PolyCUB is the newest addition to the CUB Defi family. Polygon CUB extends the ecosystem from Binance Smart Chain to Polygon Network.
Governance
xPolyCUB functions as a governance token for the PolyCUB ecosystem.
The second governance action is a perpetual vote and will scale cast votes with respective xPC balances once a week and adjust incentive multipliers once a week.
Every wallet can cast two votes. Only the last set of votes will be counted.
Dynamics of Staked PolyCUB
Growth of staked PolyCUB:
Growth of xPolyCUB:
Ratio of staked PolyCUB to xPolyCUB:
Stake distribution among the top 50 accounts on the 10th of July:
In comparison to stake distribution on the 3rd of July:
As of July 10th, total PolyCUB supply is 6'692'196. Of those, 76% is staked in the xPolyCUB vault:
Price of PolyCUB over time:
Stake Distribution
Account classification
- Whale = Accounts holding > 1% of total supply.
- Investor = Accounts holding between 0.1% to 1% of total supply.
- Retail = Accounts below 0.1% of total supply.
Whale Domination describes the share of tokens whales hold.
A few tokens for comparison:
| Token | Domination [%] |
|---|---|
| ETH | 14 |
| HIVE | 40 |
| DOGE | 45 |
| BTC | 63 |
| Whale Domination % | Investor % | Retail % |
|---|---|---|
| 69.78 | 24.10 | 6.11 |
Whale domination has been slowly melting off from 76%.
Stake percentage held by account type over time:
Out of a total of 538 xPolyCUB addresses, there are:
| # Whales > 1900 xPC | # Investors | # Retail < 190 xPC |
|---|---|---|
| 17 | 83 | 438 |
Number of wallets holding Koin sorted by whale, investor and retail:
xPolyCUB distribution across accounts:
| Max | Mean | 3rd Quartile | Median | 1st Quartile |
|---|---|---|---|---|
| 26666.67 | 3737.46 | 107.41 | 21.98 | 3.85 |
The extremely large difference between mean and median balance shows a strong concentration of assets in the top quartile. Although still very lopsided, the distribution is slowly improving, which can be observed by the Herfindahl–Hirschman Index (HHI):
HHI is a measure of industry concentration or competitiveness. Increases in the Herfindahl index indicate a decrease in competition. The scale ranges from 0 (highly competitive) to 1 (monopoly). In practice, a value over 0.25 already signifies high concentration.
Past Governance actions
The first governance action was about shortening the penalty period for claiming incentive tokens from 90 to 30 days.
The second governance action led to new yield multipliers for the vaults
Data source: polygonscan.com
Vote for my witness: @blue-witness
Posted Using LeoFinance Beta
I took a closer look to it, wondering how many do care about this "yield governance", and how much.
Important note: These are numbers of wallets, not numbers of xPC holders. Which is not the same. :)
Some holders keep more than one active wallet adress with xPC
As of today, numers are:
(3 of them are mine)
Todays valid vote distribution:
Total xPC count (combined) behind all votes: 247990
This is 55.96% from a total maximum (potential) voting stake,
.... 247990:(221578.44 *2)
Does anyone have heard, on which day of the week the weekly vote distribution will be updated (once it becomes regular) ???
Posted Using LeoFinance Beta
I am aware that my raw wallet number is a maximum. This is crypto and having more than one wallet is just how we go ;)
I should probably make a note in my next update, to make it more obvious.
Indeed, even when voting was new and happened for the first time, participation was rather low.
The question for small accounts is to either keep it staked in xPC, but the vote will be irrelevant from a stake perspective, or to use it in vaults to farm.
I went for the latter option.
I remember Khal talking about the snapshots in chat some time ago. But that was in the beginning and they were doing it manually.
It is probably worth to submit a question for tomorrow's AMA if snapshots are now automated and WEN.
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