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Have you ever been in a situation whereby you start thinking about the type of investment or business you can get involved in with the sole intention of making huge profit.. Yes! I mean huge profit even though sometimes this type of decision seems to involve a very high level of risk.
As a cryptocurrency content creator, I have come across different cryptocurrency project offering different APRs via staking or farming and i can confidently tell you that the set of crypto projects I've worked it are really genuine and authentic as regards to this type of activity. I am that kind of person who believes in multiplying his investment or income using reliable, trusted and legal means, this is why I don't just invest or stake my tokens on any kind of crypto project.
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During my search or quest for knowledge about how i can multiply my money very fast by means of cryptocurrency, I came across a defi project known as POLYCUB which was developed by @leofinance. I am very family with @leofinance on Hive blockchain and the fact that POLYCUB was created by @leofinance made me more interested in making my review about POLYCUB due to the great impact of @leofinance in the cryptocurrency and blockchain space.
My content today will majorly be focused on the new project by @leofinance known as POLYCUB and I definitely hope you will find this educative. I suggest you grab some delicious pop corn and juice to step down your body system as you drive you around about everything you need to know about PolyCUB.
PolyCub the Polygon Defi Yield Optimizer
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PolyCub is a yield optimizer platform developed by leofinance which help users maximise their yields and earn more tokens on the Polygon network. This implies that users are able to earn a very high ROI or APR equivalent to 1000% or above depending on the supported coins being staked on the platform and this is one of the reasons *PolyCub isn't your average yield optimizer".
The team behind the project had also forked the xSUSHI staking contract and added it to the PolyCub platform mechanics for users benefit. Also, users have access to earn more PolyCUB tokens whenever they stake through the Liquidity Pool. This can be observed in the statement of the project docs quoted below;
Farmers also earn POLYCUB tokens. When a farmer earns POLYCUB from staking LP tokens, they are locked for X blocks. Farmers can claim their POLYCUB harvests at any time, but if they claim it before the X blocks locking period, then 50% of their harvest is returned to the xPOLYCUB contract.
The farmer who claims their POLYCUB harvest early (before the X block staking period) receives 50% of their POLYCUB yield
The other 50% is returned to the xPOLYCUB staking contract and can be claimed by users who stake POLYCUB into xPOLYCUB.
It is also important to know that PolyCUB vaults has been designed to automate the process of claiming base platform yields such as QuickSwap or Sushiswap which are compounded into each user's base deposit position. This will not only lower gas fee and transaction cost, it will also help users to maximise their yield as high as possible.
PolyCub Airdrop
Another lovely feature i love about PolyCUB is the airdrop system involved. Users are also eligible to earn themselves PolyCub tokens whenever they hodl CUB in either the CUB Kingdom, CUB-BUSD Farm or CUB-BNB farm. A daily snapshot is usually taking for users holding or keeping CUB balances in either CUB-BUSD farm, CUB-BNB farm and CUB Kingdom is taken every day for 60 consecutive days. Each day, POLYCUB tokens are then disbursed to holders depending on the current balances during each snapshot. This implies that if a user balance changes either by increasing the stake or reducing the stake, then the airdrop amount will change from day-to-day either by increasing the airdrop reward whenever a user stakes more or decreasing reward if a user stakes less.
Users who are interested in earning PolyCub tokens via airdrop can visit https://cubdefi.com/airdrop then you click on the claim button after ensuring your if you are eligible users by holding some CUB tokens inside your farm wallet.
Using PolyCub on Safepal Wallet
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PolyCub also supports other wallet extensions such as Trust wallet, Metamask, Safepal, Im Token and other trusted and secured wallet you may be familiar with but I strongly recommend you either make use of Safepal wallet, Metamask Wallet or Trust Wallet.
In this tutorial, I will be selecting Safepal wallet as a case study because I really find it very easy to use. I will be sharing other tutorials about how you can link PolyCub with other wallets in my coming posts (stay tuned).
- Click on the Dapp feature to paste the website
- Select Polygon network/explorer
- As you can see we now have the Polygon website loaded on our safepal Dapp browser. The next step is to click on the connect Button
- Select Safepal wallet
- As you can see I now have my Safepal wallet connected with PolyCub.
For users who may want to start earning PolyCub tokens, you can either stake USDC or Wrapped ETH for now. You can also stake Wrapped Matic to earn PLEO tokens as explained below;
- Click on the farm button to start staking the supported coins and earn yourself free PolyCub tokens with high APR
- These are the three pairs available for now in the farming section. You can earn your self free PolyCub tokens just by staking either Wrapped Etherium (WETH) with an APR of 1094.82% or USDC with an APR of 892.05%
Converting your tokens from Erc 20 to Bep20 and vice versa using LeoBridge
LeoBridge is a feature on PolyCub which enables you to convert your Erc20 tokens directly into Bep20 tokens using permissionless cross chain contract. Deduction of Etherium gas fee applies to the ERC20 side of the swap and a 0.25% swap fee which buys/burns CUB and bLEO.
Since the project is still at it's early stage of development, there are limited list of tokens available for now based on if it has both a ETH or BNB pairing, with time the team plans to add more tokens as time goes on. Also note that you may automatically add your desired tokens by pasting token contract address provided it's supported on the chain. These are the required steps below for users who may want to start using LeoBridge for token conversion;
- Ensure you are on PolyCub interface or website, then you can now click on the toggle bar menu as indicated in the above screenshot
- Click on LeoBridge button as shown in the screenshot above.
- You will automatically be redirected to LeoBridge and this is the type of interface you should expect.
NOTE: The project is still quite new and the Devs are also working on some features included on PolyCub. There's a 100% chance that you might not get your desired result or output when you click on the connect wallet button. The team and Devs are doing their very best to make PolyCub very easy and accessible for users. We just have to be patient with the team and Devs to do their work and give us the best result.
- The connect wallet button will enable you to link your wallet with LeoBridge as this will make it easy for the conversion or swapping process.
- You can select the token you intend to convert by clicking on the select token option and you can also input or type the quantity or amount of tokens you intend to convert.
- This is the feature that enables you to search for the token name or paste the token contract address for easy access.
- This is where you select the type of BSC tokens you intend to convert your coins into.
- As you can see you also have some available BSC coins you can convert your tokens into or you can paste the BSC token contract address you intend to convert into.
- User also have the option to input their receiving wallet address for easy withdrawal after successful conversion of tokens.
PolyCub Token Information
According to Coinmarket Cap the total supply of PolyCub token was estimated to be 1,700,000 POLYCUB with a maximum token supply of 26,000,000 POLYCUB tokens. The current circulating supply was also is also estimated to be around 400,000 POLYCUB with a market cap of $245,634.09. PolyCub users are also eligible to earn POLYCUB by participating in any of the Kingdom vaults or by staking xPOLYCUB to earn the 50% fee penalty generated by other farmers who harvest their yield before the X block locking period.
According to PolyCub documentation, it was stated that POLYCUB adopted three essential features of three major Decentralized Finance platforms utilized in the project tokenomics which is stated below;
1.Sushiswap (xSUSHI staking contract = xPOLYCUB staking contract)
2.Adamant Finance (50% early harvest penalty paid back to xPOLYCUB stakers)
3.Autofarm (Cross-composable yield farming contracts that generate yield in three ways: normal LP trading fees, base platform yield and POLYCUB yield)
The xPOLYCUB staking pool generate it's income by early harvesting penalties. Users who stake their assets in the Kingdoms are allowed to harvest their POLYCUB earnings whenever they wish but if they should harvest those earnings before the X Block unlock Period, then 50% of the harvested earnings will be penalized and sent to all xPOLYCUB stakers.
From the tokenomics system adopted, it can be observed that there's high chance of generating limited PolyCub tokens by the platform and I guess this was why the team stated that "We designed POLYCUB to contain Bitcoin hyper-deflationary features while also retaining many of the desirable traits of a DeFi Yield Optimizer - earning yield, distributing yield and generating wealth".
Understanding the Concept of Protocol Owned Liquidity (Defi 2.0) on PolyCub
Protocol Owned Liquidity is new development in the DEFI ecosystem implemented by Olympus DAO to provide liquidity to tokens on decentralised exchanges. It's really great to see that PolyCub is also adopting this same Defi 2.0 model by generating revenue through the 10% management fee on the platform auto-compounding harvests.
According to Andrew Nardez he stated that "Protocol Owned Liquidity involves the protocol selling their tokens at a discount to buyers, who in exchange will provide another token (e.g., DAI), which forms part of the protocol’s treasury. The treasury can then be deployed to provide liquidity directly to DEXs (earning trading fees) and can be invested to generate returns". This same effect can be observed in PolyCub PoL system such that
whenever a Sushiswap or Quickswap Kingdom is autocompounded, 90% of the yield is directly compounded into the balance of the protocol participants and 10% of the yield is set aside into the PolyCUB Treasury address.
This process will lead to a direct variation between the Total locked (TVL) PolyCub tokens of the protocol and the Protocol Owned Liquidity (PoL) of PolyCub tokens in such a way that the greater the higher the PoL, the higher the yield generated on the tokens. Also, the Devs had designed the PolyCub system in such a way that as the Protocol Owned Liquidity generates more yield, it will autonomously use that yield to purchase more PolyCUB tokens in a price-agnostic manner which will also have a great significant effect on the price or worth of PolyCub tokens.
Can We Have a Hive and PolyCub Partnership?
There is actually no doubt that @leofinance has been really impacting this platform positively when it comes to promoting cryptocurrency, finance and blockchain technology. The same effect can also be observed on Hive blockchain by their level of support towards cryptocurrency/blockchain/finance related content and project on Hive.
I will love to suggest if @leofinance team can include HIVE-CUB pair on PolyCub platform to enable users stake their hive tokens and earn themselves PolyCub tokens too depending on the APR they may wish to implement on the pool. It's also a great advantage that with the help of LeoBridge, Hive users will be able to convert their Hive tokens into Wrapped Hive (WHive) for easy staking rewards.
Hive and PolyCub partnership will not only only have a huge effect on the price of Hive as a result of the increase in buying pressure of Hive tokens for users who may want to stake their Hive tokens, but it will also help to generate more use case for Hive which may also bring in more users into the Hive blockchain.
What do you think about implementing HIVE-CUB pair on PolyCub? 🤔
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This will actually be the point where your views and opinion is needed as a member of Hive community, feel free to share your views and opinions on the comment section of this post.
Thank You for your time and I hope you have a great day ahead with love from @hardaeborla
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