The Top Stable Coin Yields in DeFi: USDC-p-HBD pair earning 28% on Polycub, on Polygon.

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  • Sometimes you look outside your window on the plane, and stare in wonderment at the beauty of the clouds.
  • Beauty sometimes is found in the places you least expect to find it.
  • *An example of such beauty, is USDC-p-HBD, a stablecoin liquidity pair, which currently has a APR of 28% annual, truly a financial thing of beauty.
  • And I found it while looking for safety and the highests APR stablecoin pairs, to deposit my money in, so I could weather the storm of this bear market in the safety of self custody and a stablecoin.
  • I found this USDC-p-HBD stablecoin pair, in a little gem of a project called PolyCub on Polygon.

USDC-pHBD on PolyCub, a defi project on Polygon

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This stable coin liquidity pair is one of the top yielding stablecoin Liquidity Pools pairs in all of DeFi right now with a 28% APR.

  • Polygon is a sidechain of Ethereum and one of the fastest growing DeFi economies in all of DeFi.
  • Polygon as a concept was the brainchild of the legendary Vitalic Buterin, the software developer billionaire, and creator of Ethereum. He conceptualized it as a side chain solving the Ethereum shortcomings of high transaction cost and limited scaling ability. He put together a group of developers, they took his thoughts and made them a reality: a blockchain as safe as Ethereum, but faster and cheaper.
  • Polygon has become one of the biggest cryptocurrency decentralized finance hosting blockchains outside of Ethereum.
  • The trading pair above is on found on a DeFi project called PolyCub, but hosted on Sushiswap, which is one of the biggest decentralized exchanges for cryptocurrency that is not on the Ethereum blockchain. Both PolyCub and SushiSwap are on Polygon.
  • It is very interesting that USDC, which is relatively young, but widely known, is paired with another stablecoin called HBD, a relatively old stablecoin at five years old, which is not widely known, and was created on one of the older social media platforms in cryptocurrency; Hive.

USDC

  • USDC is an open source stablecoin that has over $50 billion in circulation. It was created by Circle. Circle is the company licensed as the money transmitter in the United States.
    USDC is pegged 1:1 with the USD. This is done by having USD and cash equivalents held in reserve. Being asset backed is designed to reduce the volatility and better hold the peg.
  • USDC is available on a number of blockchains, being one of the most widely distributed stablecoins there is.

Hive Backed Dollar

  • The Hive-Backed Dollar (HBD) is one of the world's oldest stablecoins. It has existed since the inception of the Hive blockchain and - as the name suggests - it is an algorithmic stablecoin that is backed by the HIVE cryptocurrency. source
  • pHBD is a wrapped version of the HBD token on the Polygon blockchain. Which means it is a NFT or nonfungible polygon token, which represents the value of one HBD token, from the Hive blockchain, on another blockchain; Polygon.

Hive blockchain, Hive community & PolyCub.

  • This Hive is different from the non-cryptocurrency social media application by the same name.

  • This Hive is also not the Canadian cryptocurrency mining company by the same name.

  • This Hive has a stablecoin called HBD, which is paired with USDC on a DeFi project called PolyCub. The trading pair total value locked has grown from 30,000 USD to 330,000 USD, or nearly 1000% during the same time most cryptocurrencies have shed 50-80 percent of their value.

  • You will be pleasantly surprised to find out that it it created by a known/named developer: Khaleel Kazi, from a small but loyal 4 year old 20,000 plus member community based on a decentralized application called Leofinance, which is running on the Hive blockchain.

  • You will also be pleasantly surprised to find it is also CertiK certified, meaning the code has been audited for vulnerabilities. While this is no guarantee, it is much more then the majority of DeFi projects have.

    • CertiK: A comprehensive security assessment of your smart contract and blockchaincode to identify vulnerabilities and recommend ways to fix them.

  • So there you have it: a known developer, a well established and loyal community, an outstanding APR, SushiSwap, a decentralized exchange, Polygon, a fast, cheap, side chain of Ethereum, a well know new stablecoin USDC, and HBD, an old stablecoin, from an old community. It seems like the perfect balance.

  • Plus for a bear market it has the attractive features of stablecoin trading pairs on decentralized exchanges, high APR, liquidity, and unlike all other cryptocurrency exchange trading pairs, stablecoin pairs don’t have significant price volatility by definition, and thus no impermanent loss risk.

  • The APR won’t make you rich, but 28% is an outstanding return with no lock-up and easy access to your funds in minutes.

  • I think it’s worth a look at this link

@Shortsegments

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Extra Help

Here is an article which explains how to invest in USDC-p-HBD: How to Guide

Five Good reasons to invest in USDC-HBD

Five reasons to invest in USDC-HBD

Posted Using LeoFinance Beta



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5 comments
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This post didn't age well considering the recent pump we had for our stable coin haha, but this is still a good post to consider when one is looking to go into stable coins, thanks for making it man! I hope you profited a bit from the pump.


By the way, I noticed that you powered up some Leo for LPUD a week ago, thanks for helping the Leo ecosystem grow! You're one step closer to becoming eligible to win that juicy HiveFest ticket.

The next step that will take you close to HiveFest, is to Bring your Fam to Leo, make sure to check it out!

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We hope to see you in Amsterdam for HiveFest!

Posted Using LeoFinance Beta

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Ha Ha that pump was quite the surprise. Just when I thought HBD was doing so well…

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