What Are We Going to Do About PolyCUB!?
As a team, we've worked so hard to try and make DeFi work. We've tried countless models both in theorizing behind closed doors as well as in the open market.
PolyCUB was one of our experiments. An aim at creating a sustainable, reliable and growing yield platform that could support a wide range of crypto.
Since launch, it hasn't done so well. This is a couple of things coinciding against the success of PolyCUB. The crypto bear winter decided to hit literally weeks after launch and that certainly didn't help.
But that's not the only reason and we're certainly not going to use it as an excuse. PolyCUB has a lot of mechanics which seemed great in theory but in practice served to reduce liquidity and ultimately hurt the platform's ability to grow in the long-term.
There's a silver-lining though. PolyCUB showed us the way and helped us test and build the Multi-Token Bridge technology that now powers pHIVE, pHBD, bHIVE and bHBD.
This MTB technology is working INCREDIBLY WELL on CUB. I mean, it's generating over $10k per month in revenue on CUB.
So now we are back to the drawing board on PolyCUB.
CUB is working really well with this MTB strategy. There's a reason why we've been quiet on PolyCUB. After the last proposal we launched failed to get voted in by the PolyCUB DAO, we decided to take a step back and rewrite the proposal in a clear and informative format.
Along with that, we also decided to give CUB it's time to shine. We wanted to prove that the MTB strategy could work... and could work extremely well.
The variable inflation rate on POLYCUB is not serving growth but we have an idea which will be the centerpiece of the new PIP4 proposal that gets launched.
This proposal will request the PolyCUB DAO members to vote in a change to make rates on PolyCUB Dynamic. Instead of reducing inflation each month, we will allow for a dynamic rate in order to pay LPs enough APY to drive HBD and HIVE back into the Multi-Token Bridge.
We talk about this more in this clip. PIP4 is still being written by our team and will be released in the sooniverse. We want to make everything as clear as possible and give people ample time to understand the changes we hope to make and why we hope to get it passed. Our aim is to deliver similar mechanics that are working incredibly well on CUB onto PolyCUB and allow the platforms to both flourish together!
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