PolyCUB is the newest addition to the CUB Defi family. Polygon CUB extends the ecosystem from Binance Smart Chain to Polygon Network.
vexPolyCUB
Newly announced vexPolyCUB is timelocked xPolyCUB that grants more voting weights in DAO votes.
It will be possible to lock xPolyCUB for 2 years and receive a three times higher voting weight in return.
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 3rd of July:
As of July 3rd, total PolyCUB supply is 6'625'252 . Of those, 73% 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 % |
|---|---|---|
| 69.23 | 24.40 | 6.37 |
Whale domination has been slowly melting off from 76%.
Stake percentage held by account type over time:
Out of a total of 540 xPolyCUB addresses, there are:
| # Whales > 1900 xPC | # Investors | # Retail < 190 xPC |
|---|---|---|
| 17 | 81 | 442 |
Number of wallets holding Koin sorted by whale, investor and retail:
xPolyCUB distribution across accounts:
| Max | Mean | 3rd Quartile | Median | 1st Quartile |
|---|---|---|---|---|
| 44444.00 | 5984.38 | 105.54 | 21.05 | 3.78 |
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
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