HBD Interest Rates Are Now 20% | We're Building a $5M Liquidity Pair for HBD-USDC

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ICYMI over the weekend, Hive witnesses came to a consensus to raise HBD interest rates to 20% APR. This is an incredibly bullish change for the Hive ecosystem.

In my opinion, Hive was always a top 50 cryptocurrency in terms of technology and value proposition. The technology on this blockchain is unrivaled for what we use it for: social, fast and free TXs, P2E, DeFi... It's amazing.

We also have had one of the longest standing algorithmic stablecoins in the entire crypto industry. There are 2 major problems that kept the outside world from mass adopting HBD and by extension, Hive:

  1. HBD Fixed Interest Rate (Demand)
  2. HBD Liquidity (Supply)

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As you can see, the demand problem has officially been solved in the last 48 hours. HBD now has a fixed interest rate of 20% APR which rivals that of platforms like Anchor on Terra (LUNA)'s UST Algo-Stablecoin.

With this demand in place, we have one last problem to solve: Supply.

Personally, I've been trying to leg into a 6 figure HBD position. It is incredibly difficult to do this. Why? There is literally no liquidity for HBD out there.

Our aim with PolyCUB is to build DeFi solutions for the LeoFinance, Hive and broader Crypto community. PolyCUB is an incredibly capable platform and we have a loaded roadmap of features that are being rolled out like bonding, collateralized lending, xPOLYCUB governance, etc.

Over the weekend, we've done our final testing on two major feature releases:

  1. Bonding
  2. pHBD

In this post, we'll focus on the upcoming release of pHBD.

Polygon HBD (pHBD)

We've developed an oracle for a wrapped version of HBD. This wrapped version of HBD will live on the Polygon Network and the oracle governing it will be operated by PolyCUB (LeoFinance).

pHBD will work identical to the pLEO (also, bLEO, wLEO) tokens. You can instantaneously wrap and unwrap HBD into pHBD on the Polygon network.

We've also created a vault for pHBD-USDC and will seed it with liquidity. There is almost no liquidity out there for HBD in the current market:

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This leaves 2 other options:

  1. Internal Market (also very very low liquidity)
  2. HIVE->HBD Conversions (3.5 day carry risk)

Our goal is to build a pHBD-USDC LP into a $5M+ liquidity pool in the long-run. It's extremely doable with the right focus from the LeoFinance and Broader Hive Community. To have a liquidity pool of this size and hopefully grow it into a larger and larger one would bring ripping effects throughout the Hive ecosystem.

As a large holder of Hive, I am extremely bullish already. This HBD change has me wanting more HIVE in a big way. I accumulated most of mine back at $0.10 HIVE in 2020 but now I'm seeing that HBD could supercharge this ecosystem and put it into the mainstream conversation.

This is good for Hive and it's good for LEO and LeoFinance. As a social base layer, the attention on HBD will also drive attention and onboarding for new users.

The virtuous cycle of this ecosystem is massive... We have the demand and NOW we need the supply. PolyCUB will start focusing immensely on building a massive pHBD-USDDC pool to solve this market need.

How Does This Benefit PolyCUB?

Well it's obvious that this benefits the Hive ecosystem: we're solving the #1 problem with HBD now which is supply dynamics. People simply cannot buy enough HBD. We're about to create a means for people to buy hundreds of thousands of dollars worth of HBD.

The key is to make this a synergistic relationship between PolyCUB and HBD. pHBD will have some features that feed value into POLYCUB:

  1. pHBD Wrapping and Unwrapping Fee: a 0.25% fee is accumulated when wrapping and unwrapping. This fee is paid to PolyCUB's Protocol Owned Liquidity and PolyCUB will deposit it back into the pHBD-USDC Vault (meaning that it adds to permanent liquidity for HBD while also bolstering PolyCUB's reserves)
  2. pHBD-USDC Vault Fee: a vault fee will be taken when depositing pHBD-USDC. This vault fee is paid entirely to Protocol Owned Liquidity and backs the value of POLYCUB
  3. xPOLYCUB Governance xPOLYCUB is adding governance in the near-term roadmap. This means that xPOLYCUB stakers will be able to vote on how much yield is allocated to certain vaults. How does this have anything to do with pHBD? Well, the Hive community is likely to dump lots of HBD into the pHBD-USDC vault and want to earn more than 20% APY on it. The governance system will cause Hive whales to fight over xPOLYCUB stake so that they can allocate more yield to their HBD position. Other whales in something like Aave Kingdom or WETH-WBTC may try to wrestle control and push yield into that vault. This can create a "Curve Wars" style battle for control and ultimately drive the POLYCUB price higher which in turn drives the yield higher on every vault

All of these things add up to massive value for PolyCUB and massive value for HBD. We're building an incredibly synergistic relationship that will bolster the liquidity of HBD and allow crypto whales to start legging into large HBD positions while also supporting the PolyCUB economy through trading fees and incentives paid to the Protocol Liquidity which backstops the POLYCUB price.

Questions?

This will work identical to pLEO so if you've ever used it, then you'll know exactly how it works. If you have any questions please leave a comment below and we'll reply to all 🦁

 

 

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I am still a bit concerned about the 20% interest rate offered by HBD saving option. I hope it get sustained for a long and hope it wouldn't reduce the value of hive power though.

Hearing about a liquidity pair about HBD is a good development to welcome. At a time like this, HBD really need it

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I hope it get sustained for a long and hope it wouldn't reduce the value of hive power though.

That was my worry before now, but I've been given a light that Hive Power serves much more than generating curation and staking APYs.

Your Hive Power is your governance power where you can support witnesses, vote for proposals and even operate your second layer tribes.

Holding an HBD savings will require Resource Credits which is a function of Hive Power.

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So, if I want to put 100k hbd into savings I will need enough resource credit to that by powering up some hive?

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If that's all you want to do you won't need a lot. The free RC that comes with an account is probably enough. If you want to engage in more activity then you will need more RCs and need to power up more HIVE.

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HIVE and HBD both offer unique value propositions. These need to be separated and evaluated on their own terms.

Very similar to CUB, POLYCUB and LEO. Each has its own value prop and reason for holding. Most people need to get a clear understanding of each

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Why would it reduce the value of Hive Power?

It seems like it will only enhance the value of the ecosystem. HP offers a lot of on chain utility. That is unaffected by HBD. Also, anyone who is going to utilize the HBD savings will need to have a hive account and some HP to operate.

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It is going to bring a massive benefit to the entire Hive ecosystem. Some people still view things in a narrow lense but when you take a step back and see the big picture, you see that this is a radically positive shift.

Increase the HBD APR is going to drive so much new attention to Hive which in turn, leads to more value for both HIVE and HBD.

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This is going to be a game changer for hive and I am sure People would love to move money to hbd stable coin. Earning of 20% apr is just amazing and with this increase hbd is going to be a great decentralized stable coin.

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The ROI is likely to be higher on Polycub albeit with more risks.

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Yes much higher. The counterparty risk exists although wLEO,bLEO and pLEO have been running with no issues and the rep of LeoFinance is far more valuable than a few million HBD.

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I totally agree.

Leo is my main gate to bridge assets from/to BSC and Hive.

Only once I had an issue and they helped out at each step.

Completely bullish in (and grateful for) LeoFi products. Definitely looking forward depositing some USDCHBD in that pool.

!PIZZA

-EvM

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“ Leo is my main gate to bridge assets from/to BSC and Hive.”

I love to hear that. The cool thing is that this is without the LeoBridge UI being released.

You’re doing it manually and in the sooniverse, you’ll be doing it with the simple click of 1 button to move assets seamlessly and permissionlessly across blockchains

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I loved the "sooniverse" concept within this actual metaverse hype XD

Imo, what you state here is both awesome, and exciting to read. Thanks a lot for sharing.

- EvM

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"I loved the "sooniverse" concept within this actual metaverse hype XD"

Lol the sooniverse kind of came together in an interesting way. We never saw it coming but that is reminiscent of how the whole sooniverse works: things go from soon to now in the blink of an eye

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(Edited)

The 20% APR is definitely a nice move and way forward in achieving more benefits in the nearest future and which i believe the turn up of individuals will be massive because of the profits that will be achieved when storing enough HBD in savings and I believe is a smart move happening in the blockchain

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This is definitely a very huge one and I sincerely hope this stay for a very long period of time.

Hbd is just more interesting too

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HBD is finally becoming a main point of conversation. I'm excited to provide some much needed liquidity to it

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HBD now has a fixed interest rate of 20% APR which rivals that of platforms like Anchor on Terra (LUNA)'s UST Algo-Stablecoin.

Looks like stablecoins are so difficult to make stable. The mechanism seems to be tough. Hbd have been playing around .87 to .97 for months but has maintained $1 and a bit over $1 this past week on Bittrex.

I hope we won’t experience what $usdn of $wave faced last week.

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I hope we won’t experience what $usdn of $wave faced last week.

A couple things about this:

  • The price of USDN did recover quickly
  • There were rumors that founder's stake was being used for this. Hive doesnt have this issue since we cannot have as much HIVE converted since it is locked in the DHF.

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HBD Is one of the longest-standing stablecoins in the industry. I hope now that it offers a competitive rate to UST that it will be seen by a much wider audience and taken seriously as a stablecoin to stake and HODL

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Awesome move for PolyCub with pHBD. I've personally been anticipating after hearing the news about it in one of the AMA's. Liquidity indeed has been a problem for HBD. Nice it will greatly solved with coming stable coin vault on PolyCub

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I personally need to find way more liquidity to buy a big stake in HBD. I’m excited to be on the front lines with PolyCub to make this a reality

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Bute the bullets and buy HIVE and convert.

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ew... 3.5 days!?

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Someone has to do it. And what the heck, you might come out ahead if the price goes in your direction a bit.

But year that is a security feature that protects the chain but does not make it attractive to convert.

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HBD Interest Rates Are Now 20% | We're Building a $5M Liquidity Pair for HBD-USDC.

This is definitely one of the biggest Apr right now, especially for the stable coin,hope to see how long this will stay

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It looks like this doesn't have his place on Hive's HP right now !
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With the new Interest it would even be better to have it on my savings !

I'm waiting for you right here, I hope this will be great as always 😉 !PIZZA

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HBD liquidity is desperately needed! We will create a synergistic relationship between POLYCUB and HBD and send both to the moon (in terms of POLYCUB price and HBD liquidity)

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(in terms of POLYCUB price and HBD liquidity)

Aha yes, I imagine not for HBD price and POLYCUB liquidity :')

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polycub, HBD rate increase are so good for Leofinance. And building $5 million liquidity pair for HBD-USDC will help the HBD liquidity problem. USDC is use in the polygon network, also xpolycub all useful for trade. The liquidity should now be more available !

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The liquidity problem on HBD is so ridiculously massive! It's never been more important than now for us to step up and get liquidity injected into the pHBD pair!

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Everything seems to be getting more interesting nowadays, having a very huge ApR for HBD is another means of investing.

All attention needs to be put into stable coin the more

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I have 2 questions here:

  • Is the pHBD backed by HBD?
  • I don't really understand this point

This will work identical to pLEO so if you've ever used it, then you'll know exactly how it works

Will we use the same bridge like LEO (https://wleo.io/polygon) to wrap HDB to pHBD?

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Yes it is 1 to 1 backed - just as 1pLEO is backed by 1 native LEO on the hive blockchain and is verifiable using wLEO.io.

Every pHBD is backed by 1 HBD on Hive and can be unwrapped at any time for 1 HBD

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Including a liquidity pair for HBD on Polycub is a smart one. With HBD been so lucrative for a stable coin, this would change things for the better at polycub

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It's going to drive a massive degree of value back into POLYCUB through protocol owned liquidity. I'm excited to make it happen

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Polycub to the rescue. I'm waiting to see how this would play out as the 20% APR of saving HBD on Hive is one of the juiciest but that doesn't solve HBDs liquidity issues on Hive. Great job Team Leo.
How soon would we be having pHBD-USDC vault available and is there an update on the APR?

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The 20% only further creates the need for a liquidity pool. Polycub is providing that. Hopefully it will fill up quickly so we have at least one area with a lot of liquidity.

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Yeah we are going to build the largest liquidity marketplace for HBD. Me trying to buy a six figure stake has shown me just how desperately HBD needs a deep liquidity pool.

It will all be ready in the sooniverse

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Massive HBD APR,more keep coming for investors to feast on,nice one,let go get to this too

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This is very great one and I believe it will stay for a very long time for more improvement and development in the Leofinance. HBD is great now. Kudos

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Our goal is to build a pHBD-USDC LP into a $5M+ liquidity pool in the long-run. It's extremely doable with the right focus from the LeoFinance and Broader Hive Community. To have a liquidity pool of this size and hopefully grow it into a larger and larger one would bring ripping effects throughout the Hive ecosystem.

pHBD will really be a good idea, because it add value to HBD and also to PolyCUB.

This goal will be achieved and I look forward to pHBD and also I’m getting ready to engage because I’m sure it will really be a good one.

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Are you ready for a massive liquidity spike for pHBD?

I know I am! I can't wait to be able to buy massive quantities of it

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I am ready for it!

I’m ready to invest in any leofinance project because I can see the hardwork they put in. It is inspiring.

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This is really nice but is it possible or is there plans of bHBD or WHBD in the future to make HBD available on other blockchains aside polygon.

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Yes, we’ll likely deploy this model to every Cub outpost including BSC and future ones

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Just tell us we should start anticipating THORCUB too.

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That will be amazing, I’m just comfortable using polygon and I know some users will be ok with bsc too

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Over the weekend, we've done our final testing

Bullish news. Meaning we could be seeing it go live soon. It would be interesting to see how people at hive and potential investors react to thus. Time to increase my savings

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As HBD Demand issues has been fixed, and we now have 20% APR. Would it not affect Hive? in the sense that people will be powering down to buy more HBD.

Since Hive offers 8% APR and HBD now offers 20% APR.

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Not sure; I'm personally bullish on the price of $HIVE. I believe it could be going to $8 within the next 5 years.

I'm keeping my $HIVE to be exposed to this upside potential. Also keeping amd growing HBD from post payouts to hedge.

Not powering down any time soon.

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I also think this is possible. Some people have framed me up as a HIVE hater but HIVE is one of my largest holdings in crypto. I believe firmly in the value prop of this blockchain - obviously, as we've chosen to build LEO on it.

I also believe the value prop just skyrocketed thanks to this move on HBD. Now it's hard to ignore the longest standing stable coin in the crypto industry paying comparable rates to UST on Anchor.

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I think this hatred is useless because your promotion of Leo and other Leo DApps is actually bringing new users to the hive blockchain, which automatically grows the entire blockchain.

Don't mind them, you're doing what's right to the entire hive blockchain

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I agree, it's counterproductive. I'm always focused on bringing the most value first and foremost to the lions of LeoFinance 🦁

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I'm always focused on bringing the most value first and foremost to the lions of LeoFinance 🦁

Charity they say begins at home, so it isn't wrong at all to bring the most values back home to the LeoFinance. Thank you for all your efforts to help the community grow on a daily basis.

Hope you're having little time to relax your head (sleep) for some hours.

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some people have framed me up as a HIVE hater

All I see you doing is trying to add more value to HIVE than HIVE has right now.

The bonding pair of HBD with USDC is for the benefit of hive blockchain.
It may not be seen now but you should know that time tells it all.

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HIVE offers a lot more upside than 20% plus it gives people other benefits such as helping to direct the reward pool, voting for witnesses/proposals, and is gas on the chain.

Powering down and selling Hive for HBD might be done to get 20%. But what happens if the price of HIVE goes from 85 cents to $1.35? Seems like the person shot themselves in the foot.

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It can definitely be looked at as an interesting dilemma. As Task is saying: if you're holding a stablecoin, all you can earn is the yield. In this case, 20% per year.

Though if you had bought HIVE at $0.10 and earned 8% yearly but held until today from the past 24 months, you'd be doing a helluva lot better than 40% return (20% * 2).

IMO holding both is a logical move. Speculate on HIVE while also using HIVE POWER to have more influence while simultaneously stacking HBD from author rewards and buy-ins to increase your "secure" stash of stablecoins earning 20% that you can also leg back into HIVE with during crypto dips.

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People do not put their entire portfolio's in penny stocks or major spec. They spread it around.

Speculate on Hive, go for yield with HBD. If HIVE moons, take some profits by getting it into HBD and earning more yield.

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(Edited)

pHBD sounds great, leofinance is moving to create varieties of option with the 20% move. I think it's a great one. I just think no one has explained how sustainable this would be. Plus, how would this move not make HBD push past the $1 peg?

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It is an important piece to the puzzle. When it rolls out, it is vital to get the liquidity going.

That is something that is vital to taking the next step.

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I believe the HBD rate at 20% will be highly sustainable. The growth it will bring to HIVE will outpace any inflation it causes to HIVE but as @dalz showed: the inflation is pretty minimal anyways.

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Now this right here is good news, kudos on the job well done, I hope individuals will be able to buy HBD in hundreds of dollars and more soonest. And mostly important I hope these improvements remains this way for a long time. Great job guys

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My aim is that tens of thousands of dollars will be bought and sold on pHBD every single day.

Just imagine being an investor and being able to buy a huge stake in HBD.

Now imagine being a POLYCUB investor and pHBD trading is all driving wrapping fees and vault deposit fees into PolyCUB's protocol owned liquidity vault and sending it sky-high.

The future is exciting

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Well I don't have any questions, I just want to accumulate as much HBD as I can, as an APR of 205 per year is the best I could hear today when I opened my leofinance feed, many thanks to the witnesses and developers for all the hard work they do in making Hive reach the moon as a stable and very profitable network.

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I am accumulating HBD as fast as I can get my hands on it. The problem is that there is a massive lack of liquidity out there and with POLYCUB, we're aiming to solve it.

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Congratulations team :D Thank you very much for solving this problem of lack of HBD.

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Well, the Hive community is likely to dump lots of HBD into the pHBD-USDC vault and want to earn more than 20% APY on it.

I hope this can solve the problem of HBD liquidity. And more investors will come into Hive.

Investors have USDC and swap it to pHBD and then HBD. After that what will they do. Will they put in HBD savings.

OR

They will swap USDC with pHBD and then put it back into pHBD:USCD LP.

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Exactly right, I expect a lot of both of those things to happen.

We’re giving:

  1. Existing hive and LeoFinance users the ability to deposit a lot of HBD into the first real liquidity pool to supplier it
  2. new hive investors the opportunity to buy pHBD and decide whether to LP it for high yield or stake it in savings on Hive for lower yield but without counter party risk

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We need to slap whomever taught you about the investor's delimma.

You are excelling at creating them.

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Might have to go back in time like the avengers.

The investor’s dilemma is inevitable

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If we deposit HBD into pool can we lose our HBD? And we get paid out in Polycub not HBD right?

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Technically if the pair is trading lop-sided you could have impermanent loss. This would imply that either HBD or USDC has lost its peg though.

USDC won’t lose its peg. HBD has done it before but with very different circumstances. So if you buy HBD to speculate on the price then that could impact you.

Though it could also benefit you in many ways. So there are trade-offs all over the place. If HBD maintains its peg, then you won’t have any IL since you’ll be paired stable-stable.

Yes, payouts are in POLYCUB. They are more liquid in many cases than HBD payouts for native savings and the APY will be a lot higher

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"Yes, payouts are in POLYCUB."

Will they be subject to the same 2-step withdrawal process - 1) Harvest and 2) Claim, with a 50% penalty, if executed before 90 days?

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I think that needs to be very clear before it launches for the "normies" out there. I'm conflicted but either way I'm not playing with much money, maybe $1000, but would love to learn how to be most efficient with it. After pleo-wmatic I only managed to earn and stake 5 xpolycub so far lol. But I'm learning

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Lol yes well it's all game theory in the end. You need to figure out the best move for you. In the end, providing liquidity also gets you more liquidity than staking HBD directly on-chain. Additionally, the APY for providing liquidity should be far more attractive. The downside is potential counter-party risk.

It's all trade-offs in the end.

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Eh, I like to be told what to do. Thinking for yourself is overrated.

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(Edited)

Nice! You moved very quickly with pHBD and the pHBD-USDC pool. Hopefully enough liquidity will be added to make it a huge benefit to both HBD and PolyCub.

Will they come at the same time as Bonding?

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The latest excitement regarding HBD problem put a bit more of a pump in Khal's step regarding this. It is not time to add another level which solves one of the main issues.

Hopefully the $5 million in liquidity is in there quickly. It could take a while to get to that point.

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I tend to agree this will be a rather slow process, growing the LP. Very hard to come by liquid HBD (or HIVE, to convert).

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HIVE is much easier to acquire right now than HBD. There is only about 6 million of it on the open market since roughly 3 million is in savings.

Not sure how many are looking to sell. Someone is going to have to start converting some HIVE to HBD.

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Pretty crazy to think about what could happen to the HIVE / HBD prices wen this thing moons in liquidity

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If what happened elsewhere is any indication, then we know what will happen.

It is simply a matter of getting things rolling. We are starting to see the steps revealing themselves.

The move to 20% was a big step forward. Now getting a LP open is the next. Then filling it is the third.

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Bonding and pHBD should be delivered on similar timelines. The development on both is actually complete. Right now we're testing them. Testing has become an incredibly important process for us

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They're being worked on simultaneously by two developers so I believe they'll be delivered right alongside eachother.

Right now it's a race to see who will be ready with final testing on each. I am hopeful that bonding and pHBD will be ready this week.

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20% APR is massive. Kudos to the witnesses. More reason to hold HBD. I think if the leofinance team can solve the liquidate problem of HBD it will have a positive impact on the hive ecosystem. There should be more demand for HBD now given this new APR.

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Demand is there now it's time to bring some supply. POLYCUB will do this by creating the largest liquidity pool for HBD that the world has ever seen

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(Edited)

So ...

"This will work identical to pLEO ..."

Does this mean we will have to first transfer our HBD into Hive Engine, i.e. Swap.HBD? I reread this post and I don't see this clearly answered, although "work identical" implies the answer ...

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The process of wrapping the native asset to the wrapped version and back is identical, not what comes before or after.

pHBD is wrapped HBD not wrapped swap.HBD.

So you’ll wrap HBD into pHBD and unwrap pHBD back into native HBD.

No hive engine involved

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First off - incredible things happening here. I was looking for an easy way to get HBD, and there's just not one at the moment. Bittrex seems to have stopped giving a shit about HBD.

pHBD-USDC Vault Fee: a vault fee will be taken when depositing pHBD-USDC. This vault fee is paid entirely to Protocol Owned Liquidity and backs the value of POLYCUB

How much is the vault fee?

My other question is simply - Wen?

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My other question is simply - Wen?

Welcome to the Sooniverse.

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Starting to feel like the Sooniverse is just purgatory lol

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Yeah I am also on there and there's basically no HBD. Internal market is all we got.

pHBD will change EVERYTHING for HBD liquidity. We'll also make sure it has a huge benefit to PolyCUB via driving up POLYCUB's Protocol Owned Liquidity through wrapping fees and deposit fee. Deposit fee is likely to be about 1-2%

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$5M Liquidity Pair for HBD-USDC is a huge development on Hive. Thanks to the Leofinance thing for creating this great utility for JBD on the PolyCUB DeFi.

With this, we are gradually approaching the future and just get positioned to receive the masses. This is a time for communities to up their game to receive new users as will now become a sought-for blockchain via the HBD tokenomics.

Really a terrific value.

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It is a major requirement for the system. The idea of going after what Terra did is smart. However, the liquidity issues cannot be overlooked.

This will at least provide one pool where people can access HBD (pHBD). However, will they get 2.5 million out of the 9.5 million available?

We could see a lot of HBD leave the savings and head to Polycub.

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I will personally be buying up any and all HBD I can get my hands on and staking it straight into the pHBD-USDC pool. Liquidity is our #1 issue now that the interest rate on HBD is where it needs to be (20%). I'm excited for what this entire chain can accomplish if we can rally the troops behind this one

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It can set off a firestorm, that is for sure. We are now seeing where things can go. It is always a show it process with this group.

Build it and them starting talking about it more. We will just have to keep pulling in money.

This is an opportunity to really expand the Hive ecosystem if done right.

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The value is a virtuous cycle. It goes all the way around the wheel.

  1. Hive benefits from greater HBD demand
  2. HBD benefits from greater HBD liquidity on PolyCUB
  3. PolyCUB benefits from pHBD wrapping fees + vault fees that get added to Protocol Liquidity
  4. LeoFinance (LEO) benefits from more users on HIVE = more users on LeoFinance = number go up moon moon

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QUESTION:

pHBD-USDC Vault Fee: a vault fee will be taken when depositing pHBD-USDC. This vault fee is paid entirely to Protocol Owned Liquidity and backs the value of POLYCUB

What will this fee look like? Why take a fee when one is depositing to the pool?

How about Swap fee when one swaps pHBD to USDC?

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It will mirror what the other ones have. Simply look at how they operate (I honestly havent checked them out on Polycub).

The fees are going to be based upon the pool and how much the liquidity it as compared to what is being swapped. Try to swap 1 million HBD and you might encounter a problem. Break it up over 10 or 15 transactions and the fees will be lower.

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Yes, slippage is also a consideration.

We need to build this pool as deep as possible to attract whales to the Hive ecosystem through HBD. This has become one of my #1 focuses lately.

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"What will this fee look like? Why take a fee when one is depositing to the pool?"

Likely a 1-2% deposit fee. Haven't decided the final number on that at this time.

The wrapping fee is already set: 0.25% wrap and 0.25% unwrap.

Some may say it's steep. Others will see that POLYCUB is providing a massive value here and needs to also get value in return in the Protocol Owned Liquidity to ensure that pHBD-USDC has long-term LP incentives that make sense.

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That's cool, but how about in-pool SWAPs. For example getting to buy pHBD from USDC. Would there be charges like we have here on hive-engine dieselpools?

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Just the normal small fees that AMMs deploy back into the LP as LP Trading Incentives. We'll be using Sushiswap, so it will be the same as POLYCUB-USDC - for example

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It is really exciting to see all this excitement about HBD. Liquidity is a huge obstacle but thanks to PolyCUB there is an immediate solution.

What is unique is that all of this will bring huge benefits to HIVE and POLYCUB!

Is there also a BUSD-HBD pool on Cubfinance? We could catch a lot of BSC investors

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A true win-win situation. We do not see much of them, at least this overt. This one aligned well and the timing was ideal.

Polycub was already being worked on with this pool, the fact that the increase in HBD % made it golden in terms of the timing.

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Yes I have a feeling we'll also do bHBD-BUSD on Cub. This will also have the same features as POLYCUB to build CUB's protocol owned liquidity:

  • pHBD Wrapping and Unwrapping Fee
  • pHBD-USDC Deposit Fee

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We are seeing the commerce growing. It is going to be a hotbed for HBD related activity. Find a void and fill it; Cubfinance is certainly doing that.

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The demand problem was solved by increasing HBD interest rates. The HBD liquidity issue will also be resolved with PolyCUB, which means that the supply issue will now be resolved. These will really make a huge contribution to the Hive ecosystem. Adoption of HBD, HIVE and PolyCUB will accelerate further. These are really great works.

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The liquidity problems will have to be addressed by more than Polycub. Having a LP with nothing in it is a problem. Still need to decide where it is going to come from.

That is the challenge. As Khal mentioned, he is trying to get more than $100K in HBD, and it is a challenge.

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Yes I know this problem. It will become clear in my plans when the Liquidity Pair for HBD-USDC is built. Evaluating many options for gain will provide a great advantage.

From now on I will focus on investing in HBD. Your post about HBD yesterday inspired me.

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I keep pouring HBD into the savings. No reason not to. We will see the details about the LP on Polycub. Have no idea what those numbers will look like.

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Yeah it's tough to speculate. I have a feeling that anyone holding the xPOLYCUB governance token will start to vote up the APY on the pHBD-USDC vault on Polycub.com which will be very bullish for POLYCUB as it will continually drive yields and more liquidity.

Lots of game theory involved here. Maybe we will force Hive whales to start building massive LP stakes in pHBD-USDC, then build a massive stake in xPOLYCUB to amplify their yield.

Of course, all of these whale wars will drive POLYCUB's price up, increasing yield on all vaults. On top of that, pHBD will generate MASSIVE revenue streams for PolyCUB through

  1. pHBD Wrapping and Unwrapping Fee
  2. pHBD-USDC Deposit Fee

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Lots of game theory involved here. Maybe we will force Hive whales to start building massive LP stakes in pHBD-USDC, then build a massive stake in xPOLYCUB to amplify their yield.

I wouldnt think too many will do that. My hunch is we wont see a bunch of them in POLYCUB. After all, few of them even took a gander at Cubfinance.

It is up to us to build it I believe. We will see how quickly it fills.

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It is a big piece to this puzzle. Glad to see you put out a target. That means about 2.5 million HBD is the first goal. That is what is needed.

We are going to have to watch to see how quickly things fill up.

Will this have the ability to add just one token or will people have to put in both as a pair?

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I will buy as much HBD as I can. I hope the Hive community steps up and joins in the fun and we can truly build a massive liquidity pool. This is going to be extremely important for the viability of POLYCUB in the long-run as well as the ability for HBD to truly onboard the masses to the Hive ecosystem

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Well the goal of deepest liquidity pool is not a high bar to reach. Yes it would be good if the Hive community joined in. There are roughly 3 million HBD in savings according to @dalz. So that would be a nice funding if a fair portion of it moved out.

I wonder if there are others like you who are looking at a sizeable position?

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is this the reason Hive is tanking? :P

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"Will this have the ability to add just one token or will people have to put in both as a pair?

Sorry, forgot to answer this - you'll have to LP both assets together just like the other Farms on PolyCUB.com.

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Hmm I thought I read that there is a push to single side staking in pools? Is that not something that is happening/possible?

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I'm think of at least dumping some of my HBD saving into pHBD or perhaps I'll start from today stacking up my HBD rewards from posts ready to go into pHBD. The latter seems more appealing as it's more diverse.

I'm curious if you plan on having any of the POLYCUB mechanisms work to buy regular CUB in order to burn it or something, if you are perhaps planning on limiting the CUB supply in a similar way that you did with POLYCUB at a later day?

I'm curious what's next for CUB in general since it seems to be.. I'll say.. Stable right now.


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POLYCUB and CUB are separate in this way. The connection is dual-fold:

  1. a $1M Airdrop of POLYCUB to all CUB hodlers
  2. Contracts and development for POLYCUB link over to CUB

#2 entails that CUB will also be getting Protocol owned Liquidity, bonding, collateralized lending, xCUB governance and more. It's extremely exciting to imagine this future for CUB.

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Yeah this would be an awesome service! I have friends who got into splinterlands and wanted to buy hive... it was hard to find from the outside, and at the time I didn't understand all that much about bridges and all that.

I could see people asking about buying HBD now that there's a 20% return on it. So thanks for setting that up, and yeah I'm sure it will drive up all sorts of things in the hive ecosystem, leo, and all the different moving parts that apply to polycub. I will be buying some!

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"Yeah this would be an awesome service! I have friends who got into splinterlands and wanted to buy hive... it was hard to find from the outside, and at the time I didn't understand all that much about bridges and all that."

The understated fact is that pHBD will now be a part of LeoBridge which means that we'll be able to transact any EVM coin to HBD through the LEO Token Economy.

LeoBridge is a game changer lurking in the shadows. pHBD adds to the value prop on it.

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What are the most active EVMs?

While we like what we are involved with, is there anything that is close to BSC? The others seem to get some attention for spot applications but it doesnt appear they have a ton of volume. I could be wrong though.

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Awesome, I am going to try and take advantage of this once possible.

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Ser... what will be the APR for the USDC/HBD pool .... also wen?

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Have you visited the Sooniverse yet?

That is where all in Khal's world lives.

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"Ser... what will be the APR for the USDC/HBD pool .... also wen?"

Ser, it will be ready in the sooniverse. You know this.

The APR should be 25%+ and xPOLYCUB governance will be able to tweak this and make it even higher. I have a feeling HIVE whales should start accumulating POLYCUB and stake xPOLYCUB.

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I have a feeling HIVE whales should start accumulating POLYCUB and stake xPOLYCUB.

Not sure they follow it close enough. You are introducing a novel approach to DeFi and it is taking a lot to follow it.

We will see what happens though. Perhaps there could be some bigger players interested.

Either way, I have a feeling many of the larger xPOLYCUB hodlers are pro Hive so they will vote for a pool to help HBD liquidity.

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I just wish we have this in time because I know we have people already waiting patiently for this. This will definitely solve one the problem we are having with hbd

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This benefits both ways, HBD will be even more sought of, as liquidity is removed, and also it is bringing more attention on the pCUB + pHBD environment on poly.

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It inserts Polycub at the center of a lot of things. This is going to really help out the platform while also bringing some major attention to HBD.

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I see it the same. The best time is now to put the HBD to work.

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POLYCUB is a beast in disguise. Most people have no idea what's about to hit them

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Yes they do. They just choose to ignore it. Their eyes are glued to the price to say see I told you it would keep going down.

When the protocol starts buying, especially with the reduction of emissions and airdrop the first part of May, it will be an entirely new ball game.

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It's a win-win. I'm excited to release this feature and bolster the PoL on PolyCUB while also bringing massively needed liquidity to the HBD token

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Great to see a stablecoins based pool and I wonder two things: 1. Will the stablecoins allocation ratio be kept in time as structured only between stablecoins and we won't see any Impermanent Loss? 2. What APR% should we expect on top of the 20% that is provided through HBD Savings on Hive?

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If USDC and HBD maintain their pegs, then they're both always worth around $1 USD which means 0 impermanent loss.

"What APR% should we expect on top of the 20% that is provided through HBD Savings on Hive?"

This is an interesting question because you said "on top of".

The one thing about this is that you're trading the value prop of staking HBD directly on Hive. Instead, you'll be earning POLYCUB. The APR is likely to be super attractive at 30% or greater to incentivize this. POLYCUB will stake the HBD on Hive and buy POLYCUB with it to bolster Protocol Liquidity and incentivize pHBD-USDC LPs even further

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I think it's one of the biggest things anyone has done yet for Hive. Finally some more big exposure for Hive and HBD outside into other networks such as Polygon.

Is this a test phase to see how well it goes over and then the possibility of adding it into CUBDeFi?

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I believe it's going to bring a great deal of value all over this ecosystem.

Yes, this is a tester. IF it goes well, we'll deploy bHBD and it will have the same mechanics and yet another massively deep liquidity pool for HBD in the long-run

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Damn we are going to need a lot more HBD.

Someone is going to have to break down and do some converting.

It is unavoidable.

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This is, of course, great news. Hopefully it catapults HIVE into the limelight a little bit. That said, my question is this: What happens if and when there is $100k HBD and $100k USDC in the LP and someone comes in and scoops up the liquidity? Say someone comes in and buys $100k HBD and doesn't put it back in the pool. Now what?

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(Edited)

You wouldn't want to buy $100K from a pool with only $100K on each side, this would result in enormous slippage. You would have to buy smaller chunks and hope the pool gets arbed back to 1-1 (which would add more HBD in this case).

To be able to buy $100K instantly with reasonable slippage you would need a much bigger pool.

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Exactly. Though as we have seen some people are oblivious to slippage.

If someone did do it, then we'll see arbitrage bots step in and take care of the pegs to get them back to their correct level

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Then HBD moons in price. The thing is, then someone (likely a bot) will arbitrage HBD back down to its peg on the pHBD-USDC LP. This is important for the mechanics of HBD.

The need for massive liquidity on HBD has arrived and PolyCUB is at the center of it

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(Edited)

It's quite easy to buy six figures of HBD, but you need to be willing to pay a small premium. The HBD stabilizer will sell to anyone who bids over $1 and it has a budget of over $150K per day.

If you want to snipe cheap HBD under $1 then it is much slower process depending on market conditions, I agree. There hasn't been much HBD selling recently. Wonder why...

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How much of a premium is it right now? Also, where do you buy this? Is it on the internal exchange?

Admittedly, I've never dived deep into the mechanics of the stabilizer. I arbitrage into an HBD position slowly with bots every single day.

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It buys on the internal exchange, but there are many (as in dozens) of arbitrage bots that would make the same trade on other exchanges.

I think the cutoff has been 1.01 but I've considered reducing it. But paying 1% over shouldn't be too bad for the purpose of holding for interest.

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Okay as an experiment I changed it to +0.5% for now. I'll see how that works for a while and decide whether or not to make it permanent.

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It is really exciting what is raised with this increase in the APR in HBD. Resolving the issue of supply is the task to be accomplished and we can already see that they are on the right track. I think more options besides POLYCUB will be needed to get it under control. I hope I don't miss anything.

Realmente es emocionante lo que se plantea con este incremento del APR en HBD. Resolver el tema del suministro es la tarea a cumplir y ya vemos que van por buen camino. Creo que se necesitaran mas opciones ademas de POLYCUB para tenerlo bajo control. Espero no perderme de nada.

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"It is really exciting what is raised with this increase in the APR in HBD."

I am so glad they did this!

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I need to get more facts and knowledge about polycub cause it seems am lost in some areas like the part where the polycub will benefit from adding pHBD

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  • pHBD Wrapping Fee (0.25%) is paid to POLYCUB's protocol liquidity
  • pHBD-USDC Deposit Fee (1-2%) is paid to POLYCUB's protocol liquidity
  • HBD reserves on HIVE earn PolyCUB 20% APR and that is paid to POLYCUB's protocol liquidity

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