frens, pHBD has been born! It's time to create an insane liquidity pool! Here's how to do it.
It's time to pump $5m into pHBD-USDC!
Not too long ago (like within the past 30 minutes), the LeoFinance Discord started popping off. It was silent, but we all knew what was going on. Then someone dropped a link into the server for the HBD Bridge. Naturally, I immediately opened it and tested it with 1 HBD.
This bridge allows users to send HBD from the Hive blockchain to the Polygon blockchain instantly and vice versa. Pretty powerful shit right here. When you bridge your HBD to Polygon, you will received wrapped HBD as pHBD which can be unwrapped back onto Hive at any point. Let's check it out!
Note: if you've never used Polygon before, you will need some MATIC in your wallet for gas fees (they're tiny). Check this guide for easy ways to get MATIC using Hive Engine.
The UI is literally as simple as it gets. When you're bridging HBD to Polygon, you'll enter your Polygon address and the amount to bridge then confirm the transaction in Hive Keychain.
When you're briding pHBD from Polygon back to Hive, you enter your Hive username and the amount. Then confirm in MetaMask or whatever wallet extension you use. This can be done on mobile as well via the MetaMask app or even TrustWallet. Hell, even Coinbase Wallet supports Polygon.
After a couple seconds, the pHBD will arrive in your wallet, which can be seen at PolygonScan by entering your wallet address. You can also add pHBD to your MetaMask wallet now by clicking Add Token at the bottom of your assets view.
Once you click Add Token, enter the pHBD Contract Address: 0x6d969cea201e427d2875724fd4e8044833fbc7f4
Everything else will populate automatically and all you have do do is click Add Custom Token. Now you will be able to see your pHBD in MetaMask.
Congrats! Now you have pHBD and you're ready to get to farming.
In order to add liquidity to the pHBD-USDC pool, visit the Farms page on PolyCUB. Right away you'll see the new pool is live and getting massive amounts of liquidity pumped in as the news spreads. (It's at $182,000 now).
Next, you're going to need to get an equivalent amount of pHBD and USDC. Don't worry, it's actually really easy. Suppose you sent 100 HBD over to Polygon. All you have to do is swap 50 to USDC and you're ready to go. Here's how:
First - visit SushiSwap and import the pHBD token by pasting the contract in the swap page.
To do this, click the drop down one either one of the 2 default assets, and past the contract address from above.
Click Import, and now switch the 2nd asset to USDC. You'll have to click Enable and confirm the transaction in MetaMask before you're able to Swap. Once enabled, swap half of you pHBD to USDC and you should have an equivalent amount of each (roughly).
Now, back on the PolyCUB Farms page, click Get pHBD-USDC LP. You'll be taken to the Liquidity page where you enter the amount. In the case of example, enter 50 and it will calculate the equivalent in pHBD.
Now all there's left to do is click Approve pHBD and confirm in MetaMask. Once that transaction confirms, click Add Liquidity.
Then Confirm Supply and confirm transaction in MetaMask.
Once that transaction confirms, you'll receive whatever amount of LP tokens for that pool and you're ready to throw them into PolyCUB.
Head back to the Farms page on PolyCUB, and click Details on the pHBD-USDC pool.
Click Enable, and confirm in MetaMask. NOTE: All of this confirming and approving of tokens is a one time thing. After this, you'll be able to swap and whatnot without 2 transactions.
Next, click Stake LP and then clik Max. Then confirm in MetaMask.
Bam! Now you're farming stable coins at 77% APY!
You're also providing liquidity for users to arbitrage trade and potentially help stabilize the price of HBD. This is going to go nuts once people realize how massive that APY is on stable coins! Let's make this bad boi DEEP! Onward and upward frens, number go up only!
Check out the official @leofinance announcement post for all the details.
Thanks for reading! Much love.
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Posted Using LeoFinance Beta
Thanks for the tutorial. Not sure if i'll get involved or not yet. Maybe when things settle down a bit.
!LUV !PIZZA !LOLZ
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lolztoken.com
Because they just got out of a prism.
Credit: reddit
@l337m45732, I sent you an $LOLZ on behalf of @gillianpearce
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (2/6)
Thanks for stopping by! The best part is... Little risk since hbd and USDC are both pegged at be $1. Hbd does fluctuate but not much
@gillianpearce(2/4) gave you LUV.
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Great tutorial. Reblogged.
Posted Using LeoFinance Beta
Thanks!
This is a good one to spell out things clearly. We need more of this. Pushed to front page so I can find it. LOL
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We really do. There are plenty of guides but a lot of them aren't "noob friendly"
Screenshots really help out a great deal.
People need them when they create the guides.
Posted Using LeoFinance Beta
Heyo!
Attempting to swap pHBD for USDC and running in to issues. . . SushiSwap is not recognizing the contract address for pHBD.
Think there is something I am missing? Or have things changed already?
Great article by the way, I'm excited to have found this LeoFinance, Cub and PolyCub.
Posted Using LeoFinance Beta
Nothing has changed. Just make sure you're using the Polygon network on Sushiswap. Paste the contract address and import the token.
Thanks for stopping by and good luck with your investments!
Hmm k. I'll have to figure out what I am doing wrong. . .
Connected to Polygon?
Indeed. . .
Finally got it to work out! :-P
For some reason the network was have some real trouble connecting to my wallet. . . but with some refreshing and other things it finally did! And was able to find my pHBD and the Contract.
Posted Using LeoFinance Beta
Very nice. Good luck!
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My cubfinance is in trustwallet. Is it fine to use metamask for polycub?will there be a conflict in sending and receiving?/ thanks..
Posted Using LeoFinance Beta
Great question. The cub tokens live in your crypto wallet. Whether that wallet be accessed via metamask or trustwallet doesn't matter.
The address is the same. The apps are just a front end. So yeah use both. Doesn't really matter.
It is pretty straightforward tutorial for new folks, easy to follow and simple.
I hope this new LP pair will lead pCub to new successes. Normally it is not that easy to put stablecoins into liquidity with such a huge return.
Well done.
!gif moon
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Via Tenor
Thanks for stopping by, glad you enjoyed it!
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Thanks for this guide. It comes in handy :) And all the best on your PolyCUB farming thru the pHBD pool!
Posted Using LeoFinance Beta
Glad it was helpful. Thanks!
Posted Using LeoFinance Beta
It is, thank you :)
Posted Using LeoFinance Beta
This is a great guide BUT no full disclosure to allow people to make a truly informed decision...
ADD...
I still think this is THE BEST stables pool out there, but you have to be careful about the best time to add to it in order to maximise!
Slow and steady ATM is the only way to buy into it because of the lack of liquid HBD at the moment!
Posted Using LeoFinance Beta
The point was to show people how to do it if they so please, not to help them make an informed decision. I'm not a financial advisor.
Posted Using LeoFinance Beta
I just think we should be upfront with all the downsides, especially if your title is saying there's a 77% APY - we should be clear of the fees and the conditions.
As far as the instructions go, yes, it's a good post!
I'm merely talking from the perspective of someone whose been there with other sites - I see an advertised rate, I dig for 10 minutes, I'm annoyed when I find the ACTUAL rate without a lock is considerably lower than the headline one, I don't invest.
If you look at the calculated APY on the pool, it's still over 77% - at 78.11% currently. The APR is 57.75% so that may be what you're looking at.
Either way - I get where you're coming from. There should be a disclaimer on the bridge itself that mentions 0.25% fee.
Ah OK I stand correct on the APY/ APR!
That's a fair point about the bridge - it's an excellent very fast bridge it has to be said, but yes a fee reminder would be good!
APY/APR can be confusing and can easily be mixed up. The bridge is sliiiiiick!
Posted Using LeoFinance Beta
It's as easy as peeling an orange, how much are you willing to invest in this?
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A lot of I had the extra capital.
Pretty insightful,and step by step. Thanks for sharing.
!PIZZA
Hello, can I get help on how to get on board using safepal wallet?
I have been able to get my HBD wrapped but I can't seem to be able to go from there? 🥺
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