HBD - Hive-Backed Dollars - is the talk of the Hive blockchain right now. Everyone is discussing whether or not the witnesses should raise the APR for staking HBD on Hive to 20% APR.
Obviously, I'm a big supporter of this move. I was an early buyer of LUNA around $5 and I believe that Hive could jump on the bandwagon of promoting it's decentralized stablecoin as a prime cut of meat for the DeFi world.
I believe that HBD could cause HIVE to pull a Terra LUNA and head for $100, if it's promoted and deployed correctly.
To do our part as the LeoFinance community, I want us to solve the #1 issue facing HBD adoption: liquidity.
If you want to drop $100,000 USD into HBD and lock it up to earn 20% APR, you can't.
You literally cannot find the liquidity out there to buy $100k worth of HBD. That is a massive problem.
How do you solve it?
Get ready for something truly incredible. We've been building this for a few weeks now and it is going to radically change the Hive and LEO ecosystems forever.
pHBD is going to be deployed on PolyCUB.com as a vault. pHBD-USDC will be the vault pair and users will be able to stake it and earn high yield on their HBD.
A small fee will be taken along with the 12% APR on HBD staking on-chain. All of this will be deposited into PolyCUB's Protocol Owned Liquidity (PoL) where it will seed long-term yield optimization.
The pHBD-USDC staking rewards will outpace the rewards on Hive. Right now, that means offering an APY above 12% (likely in the 20-40% range).
If/Wen HBD's APR goes to 20%, we can always adjust the POLYCUB payouts to account for the increase and raise PolyCUB's APR to increase attractiveness. In fact, all APRs and the pendulum on PolyCUB will be governed by xPOLYCUB in the sooniverse.
We're getting ready to deploy xPOLYCUB governance which means that if anyone is a PolyCUB Kingdoms Whale, a LEO whale or (soon) an HBD Whale then you're going to want to be an xPOLYCUB whale too. xPOLYCUB voting will control where the APR gets deployed on the PolyCUB platform for vaults like pHBD-USDC.
This means that large stakeholders can direct more APR to yield vaults that they are a part of. We modeled this after seeing the current "Curve wars" situation that is playing out where whales are buying CVX left and right in order to control the governance on Curve.fi.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
▶️ 3Speak
This is pretty great. We will get instructions on how to wrap and enter the vault before it happens?
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Yes, it’s identical to pLEO but we’ll have instructions out there
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That is encouraging. Is it the same basic software and contracts?
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This is a really nice idea can't wait to see how it goes and how the instructions would be like
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It’ll be just like pLEO!
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Oh! that's great 🙌🏽
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Step 1:
Send your HBD to @taskmaster4450 and he will send half of it back to you.
Step 2:
Repeat Step 1
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😂😂 Really?!! I see
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LeoFinance is always a problem solving community when it comes to finances and this one isn't bigger than us.
Bringing in HBD into PolyCUB will be an amazing idea.
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I think it will be hugely beneficial both for PolyCUB in terms of building protocol reserves and for HBD in terms of building deep liquidity
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A strong Polycub treasury will mean that we are going to sit on a lot of buying power. With POLYCUB almost non existent by the end of the year (in terms of emissions) we are going to see things really start flying.
Hopefully the fees that are generated are huge.
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The buying power of POLYCUB's PoL is going to blow some peoples' minds when they see it. I also think it's highly underrated in terms of backstopping the POLYCUB price.
Looking at the market cap of POLYCUB today and comparing it to the PoL has me really excited. POLYCUB is bottomed out in terms of price. The fundamental value will take over and it is to the moon from there
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This to me is very true, promoting HBD can lead to its all time hike and in turn bless the entire blockchain.
It’s nothing short of a game changer
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Then I can't wait for this to be actualized as soon as possible. Thanks for the reply. You're actually keeping to your words of engaging everyone on this platform. This is indeed leadership. Kudos to you my hero.
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I have a feeling we will see it this week at some point.
Just a guess on that one though but it seems to me they are getting close to it being ready. I know they want to start rolling it out.
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It's a previllege to know this and thank you so much for the reply.
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To put HBD in the true stablecoin realm, we need a lot more of it. That means a great deal of conversions which equates to a lot less supply of HIVE on the open market.
That could lead to a serious run up in price.
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If scarcity is the alternative, then, I'll suggest we follow it up. Thanks for the reply.
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I believe it will definitely change things positively seeing the new 20% APR will really see it progress
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I’m very curious. Combine this 20% with the PolyCub returns and value prop and I think we’ve got the making of a radically transforming platform
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That's definitely the definition of success moving in a positive state
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Can't wait to drink from this cup. Sounds amazing already.
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I also see all this from a dual perspective: making PolyCUB achieve it's yield optimizing goal and also increasing the potency of hive skyrocketing over a period of time.
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It's a well stated fact that PolyCUB will succeed, this in addition to the pHBD gives the entire platform to get big returns in a long run.
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It opens up a lot of things for both ecosystems.
We will watch a true win-win situation. This could really be the kickstart to something amazing for Hive.
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This will definitely help PolyCUB to achieve it's yield optimizing goal when it is finalized. Hope I'm current, what do you think about this?
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Yes it will help it. The fees from the bridge along with the vault will feed into the protocol, which then will get rewards from its holdings, which it will use to buy POLYCUB and distribute.
So it all works together. So having your holdings in xPOLYCUB will be optimized as more POLYCUB flows into the contract and the ratio increases.
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Thanks
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Raising the APR for staking HBD on hive will be a massive idea and this to me will be like that of LUNA.
Adjusting the payout of HBD when it goes up with respect to PolyCUB looks pretty good.
Thanks for sharing
It’ll change everything
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Thank you
I believe that me buying HBD is right move. Recently I started buying HBD mainly as to hedge against price of hive dipping. Now there's a lot of issue facing adoption of HBD so liquidity is the biggest hurdle. Leofinance is really do a big part to solve this. So having HBD could eventually like owning a stable coin. I'm glad I am starting to buy more HBD !
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I’m buying more as well! Can’t wait to have more liquidity as it’s paired on PolyCub.com
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Staking HBD for 20% APR is awesome and could bring some big investors to Hive but I also had worries about the liquidity as I had had serious issues the recently when I tried to buy a pretty large amount of HBD. I'm glad the Leofinance team has a solution to that and that's why I've always had big thoughts for Polycub. This is just one of its wonders.
Yeah I have tried to acquire a lot of HBD in the past. PolyCub will be a game-changer for that because we’ll have the deepest liquidity pool for HBD on the planet
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Wow I can wait for this to happen, polyCUB is a huge blessing to Hive right now.
It is amazing what happens when people are focused upon building.
That is what the Leofinance team has been doing. Hence we are seeing a big addition added to an already sizeable move by the Hive witnesses.
We are all going to benefit from it.
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Definitely, we are all going to benefit from it, polycub and HBD will be helping each other will be a huge win-win situation.
Yes it will.
Hopefully we will see other Layer 2 solutions created also incorporating HBD. This could really help the use cases for HBD.
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Exactly
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Glad you agree. LOL
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Yes indeed
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I'll be very interested to learn how this will be. Marky rather told me that keeping the HBD solid may cut Hive to a balance around $0.5.
I am personally ready to add liquidity in the pHBD-USDC pool. I hope everything turns out more beautiful as planned.
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In the short term, it might have the impact of sending the price of HIVE down. However, long term, since HIVE will be converted, the float will be tightened.
Time will tell how all this unfolds. However, we did see it with LUNA. Why wouldnt HIVE follow if we have a similar degree of success.
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Did you share thoughts on the LUNA project? Seemed to have missed all of that.
With the low liquidity available in HBD market, don't you see the possibility of HBD crushing well over $1 at the early stage of this conversion?
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No I never did anything in particular about LUNA but the record is out there. Hard to miss what they did.
No. The HBD stabilizer plus arbitrage opportunities are out there to keep it in line. Getting the Polycub LP going will really help. Another area that people can use to arbitrate, especially if there is liquidity.
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LeoFinance is definitely cooking some great things which I believe anyone would appreciate when they go live. My mind is now having a debate on how I would go about these before they even arrive. I don't want to get left behind, lol!
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Haha always got to stay ahead. The podcasts are a great way to keep up with what’s happening!
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It hurts when I'm only getting started and everyone is moving far ahead, lol! I'm going to watch every podcast from now on, thank you.
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20%+ APR sounds awesome for a stable coin. Can't wait for throw in my HBD into the vault. Been saving my HBD for this
I’ve been stacking HBD as well. I’m so excited for this festure
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Nice, great way to go. Excited also, I guess we all are for what is to come
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Boom!
Already 20% - get adjusting!
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Can’t wait to drop my HBD in the pool. It’ll be instantly liquid so no unstake period like on-chain and the Apr will be higher
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Just wondering but will this vault also suffer the 50% early harvest fee?
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Yes, everything except the xPOLYCUB vault does
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pHBD-USDC would be very amazing pair. This can be linked within Polygon and Hive. Polygon is a side chain of Ethereum so we can also link with Ethereum. I hope this will solve HBD liquidity problem.
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I think this will instantaneously solve HBD liquidity issues. The HBD vault will get continuous HBD deposits and create massive long-term liquidity
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Going to need a few major players to convert some HIVE to HBD to increase the overall liquidity. Not a ton out there in general.
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I also believe so too. With Polycub setting to improve the liquidity, this would greatly benefit hive and Polycub
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It will allow some big players to get involved in the interest on HBD.
As stated right now there is no way to get a large amount of HBD.
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This will be amazing and I can't wait to have this feature on polycub.
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It can be a central part of the Polycub ecosystem.
Here is a view on it:
I think it is going to help both Polycub and Hive.
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Now the 20% is in place. Time to really turn things on its ear.
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Will there be bonding also for the pHBD-USDC vault?
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20%✌️