pHBD-USDC is Now Live! | HBD is About to Get a $5,000,000 Liquidity Pool

in LeoFinance8 months ago

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If you're reading this post, then you'll notice that one of our most anticipated features has OFFICIALLY gone from soon to now. pHBD (Polygon Hive-Backed Dollar) is now live on https://polycub.com/farms.

This marks a vital milestone both for PolyCUB and for HBD and the Hive Ecosystem.


TLDR;


ICYMI: the Hive witnesses recently raised the HBD Fixed Interest rate to 20% on-chain.

This means that anyone can stake HBD on-chain and earn a fixed yield of 20%.

They solved Demand but only one problem remains: Supply. Personally, I tried to go out and buy over $150k worth of HBD and it was impossible to find a market to do that. I had to put out tweets and go OTC to get as much HBD as I could.

This needs to be fixed if the Hive ecosystem wants to attract the DeFi world of whales, stablecoin yield hunters and all of the massive value that comes along with it. Look no further than Terra and UST to see how important that is.

Anchor is one of the many reasons that UST and Terra (LUNA) are so successful. A simple way to stake / provide liquidity and earn yield.

PolyCUB aims to be that for the Hive ecosystem and HBD token. With pHBD, our goal is to create a $5m+ liquidity pair for HBD.

This signifies the largest liquidity source for HBD. We believe that pHBD will be the #1 route to trade and accumulate a position in Hive-Backed Dollars and we need your help - the Hive community - to make this a reality.

How to Wrap and Unwrap HBD & pHBD

It's easy! We actually radically improved the UI but it works identically to pLEO:

Head over to https://wleo.io/hbd/ and you'll see the new and improved wrapping and unwrapping UI:

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To wrap:

  1. Enter your receiving Polygon Network Address
  2. Enter the Amount of HBD to send
  3. Hit transfer and confirm with Hivesigner or Hive Keychain

To unwrap:

  1. Enter your receiving Hive Username
  2. Enter the Amount of pHBD to send
  3. Hit transfer and confirm with Metamask

pHBD Trading is Now Live!

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You can now trade any coin for pHBD on the Polygon network. We're working on exchange listings and DeFi aggregator listings for pHBD which will rank it on official token lists. First, we need liquidity, then we can make these listings happen so people can find it more easily.

For now, you need to input the pHBD contract address directly on Sushiswap or (Our recommendation) Paraswap in order to trade pHBD:

pHBD contract address:

  • 0x6d969cea201e427d2875724fd4e8044833fbc7f4

Steps:

  1. Visit Sushiswap or Paraswap
  2. Click "Select Token"
  3. Paste "0x6d969cea201e427d2875724fd4e8044833fbc7f4"
  4. Approve pHBD

pHBD-USDC LP is Now Live!

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To add liquidity:

  1. Visit https://app.sushi.com/
  2. Add pHBD Contract address in one side
  3. Add USDC in other side
  4. Approve
  5. Add Liquidity

To LP on PolyCUB.com and earn yield:

  1. Visit https://polycub.com/farms
  2. Enable LP
  3. Deposit LP Tokens
  4. Fee for deposits are currently ~0% but will not remain that way forever 🦁

Bullish PolyCUB, HBD and Hive

This is so bullish for PolyCUB, HBD and Hive.

  1. PolyCUB's Protocol Liquidity is earning 0.1 HBD + 0.25% on every wrap and 0.25% on every unwrap
  2. HBD is getting the largest source of much needed liquidity to supply a new wave of Hive ecosystem users
  3. Hive ecosystem needs HBD to gain mass adoption. Liquidity is the final hurdle to making that possible

We have a lot of content to push out today:

  1. mechanics behind pHBD
  2. Guides and tutorials on how to use it

We wanted to get this post announcing the release into your hands first. The in-depth tutorials will follow!

Questions?

Leave them below. There will be tons of tutorials today and if you write one on https://leofinance.io, we'll have some gifts sent to your Hive account ;)

Posted Using LeoFinance Beta

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This came out faster than I expected and I just checked in but at 183k liquidity, the APR has dropped to 77.85%.

Just wondering, but will the APR also change as the emission rates drop? I expect that a portion of the current PolyCUB emission was moved towards this pool and each month, the emission rate should be halved.

Posted Using LeoFinance Beta

The APR will fluctuate while initial liquidity gets in. We'll continue to update the APR and likely keep it above 30% to make it attractive for two reasons:

  1. 30% APR is better than 20% on the Hive blockchain
  2. Altruistically, people want Hive to be successful and HBD needs liquidity for that to be possible. Providing liquidity on pHBD-USDC is aiding the growth of Hive in a BIG way

We're gearing up for the release of xPOLYCUB governance where anyone staking POLYCUB as xPOLYCUB will have a governance vote on where to allocate yield and how much each vault should receive.

With this governance structure in place, we'll be able to do some really cool stuff. One of the most underrated aspects of this coinciding with the launch of pHBD is that now every Hive whale has an incentive to stake a bunch of pHBD and then buy POLYCUB and stake as xPOLYCUB so that they can drive more yield into their own vault.

POLYCUB-style Curve wars, anyone?

Posted Using LeoFinance Beta

That sounds interesting. Will everything be recorded on Polygon? I think I am spoiled by Hive where I can vote without paying any fees.

Posted Using LeoFinance Beta

This came out faster than I expected

I wasn't expecting it to be this quick either, this is great from the team putting the work.

Posted Using LeoFinance Beta

This rate is much higher than I expected. They really did a great job.

Posted Using LeoFinance Beta

I am still waiting to see. From what I see, we aren't close to the 5 million liquidity so we don't know what the rates will look like when there is enough liquidity.

Posted Using LeoFinance Beta

In spite of all of these zeroes ...

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... have done my part of helping this initiative along!

As well as reblogged this post, for a wider audience, to help get this LP to the objective TVL of $5M! 🦁🚀

Posted Using LeoFinance Beta

Ha! I just put my HBD into savings last night because I didn't think you'd be this fast. See you in 3 days lol.

Posted Using LeoFinance Beta

I wasn't expecting it that fast either. The 7-day countdown would have been nice.

Posted Using LeoFinance Beta

There can never be a good countdown. If we give too much notice, people are asking wen. Not enough and people are saying too soon.

Wens and soons, wens and soons.

Instead, we made this launch happen sooner than the wens could roll in. I liked it

Posted Using LeoFinance Beta

You're right, I didn't think about that.

Posted Using LeoFinance Beta

Do you people when things are going to roll out?

I hadnt notied.

Posted Using LeoFinance Beta

My sense is the roll out was rushed due to what happened last week.

Have to strike while the iron is hot.

Posted Using LeoFinance Beta

Yes, we were already working on pHBD and planned to release it after bonding. The update to 20% had us shift the priority quickly to get it out.

Bonding is back on the hot seat and will be rolled out in the near-sooniverse

Posted Using LeoFinance Beta

Bonding is back on the hot seat and will be rolled out in the near-sooniverse

It will be interesting to see impact of the bonding on the platform. That is one of the DeFi 2.0 variables we are awaiting for to change the path of the platform.

Posted Using LeoFinance Beta

True, but it saves me from myself and gives me 3 days to ruminate over my decision more lol. I did have a little pleo on polygon so I swapped it.

Posted Using LeoFinance Beta

You found a way to enter into the pool, that's great.
I need a day to join I hope I do it tomorrow. :)

Posted Using LeoFinance Beta

Thanks for your support! We need a lot more liquidity in the pHBD-USDC pool. Our goal to raise this thing to $5M is incredibly important for the future of the Hive blockchain.

PolyCUB is to HBD what Anchor is to UST

Posted Using LeoFinance Beta

Thank you very much for doing such a great job.

Posted Using LeoFinance Beta

With this announcement + high APR in pHBD-USDC, I believe a large portion of DAI-USDT-USDC LP in Kingdoms will be pulled out and put in pHBD-USDC pool.

Just a stupid question, is earned pCUB from pHBD-USDC also locked for 90 days?

Posted Using LeoFinance Beta

I also did that right before the announcement ;)
Now I ll try to see how this works with a small amount and move on from there on!

Posted Using LeoFinance Beta

Very nice!!! This is just making the hustle for HBD more fun like gold mining...

HBD to the moon🚀🚀🚀

Posted Using LeoFinance Beta

I think PolyCUB & HIVE is also ready to go to the moon.

Posted Using LeoFinance Beta

Lol yeah true

Posted Using LeoFinance Beta

HBD is a stablecoin :) It is always expected to have the same value as the dollar.

Posted Using LeoFinance Beta

Not just a stablecoin but a unique one and I think it can though exceed though or is it Hive

Posted Using LeoFinance Beta

HBD is a very strong stablecoin, perhaps the best. But it will be around $1.

Posted Using LeoFinance Beta

Well it's alright, always thought it will exceed that

Posted Using LeoFinance Beta

Sweet. Great to see it go live, didn't expect it as soon. Time to wrap some HBD and throw it into that pool. Congratulations and amazing work team

Posted Using LeoFinance Beta

Really the team did a great job. They do great things for the community.

Posted Using LeoFinance Beta

The sooniverse is truly a majestic creature, wasn’t expecting it so soon. Okay, so this is good to utilize, the risk is almost close to 0.1% because pHBD and USDC are both StableCoins.

Posted Using LeoFinance Beta

Wow! Congratulations to leofinance for yet again launching and wonderful way to earn and also promote this community.

I’m sure the engagement on this newly launched will be good.

I should quickly check this out.

Posted Using LeoFinance Beta

Hell yeah! See ya on the moon, bois

Posted Using LeoFinance Beta

HBD is About to Get a $5,000,000 Liquidity Pool

This is a very massive one coming , honestly all this are reason why HBD keeps on looking so interesting to invest on at this present time.

Posted using LeoFinance Mobile

Finally the long awaited day has come, it's really exciting. Now is the time to review how it's done and join PHBD-USDC early.

Posted Using LeoFinance Beta

This might have been the soonest sooniverse update ever! lol

That being said though this is a huge leap for Hive and HBD along with providing a wealth of power and flexibility to Polycubs Defi platform on the Polygon(Matic) network.

Posted Using LeoFinance Beta

Huuuuuuu! Lemme get my first few HBDs into the pool. I never expected this coming today, was looking at Three days from now.

Thanks for this value added to HBD and the Hive blockchain at large. Let's get to start earning passive bucks pooling pHBD on Polygon for 40% APY.

Posted Using LeoFinance Beta

I have Polycub, HBD, Hive in my holdings. Also Leo and Cub. Together these make a formidable team. Now HBD has a huge liquidity pool, users can trade large sums without issue. This changes everything, Leofinance are going to be massive !

Posted using LeoFinance Mobile

Why people do not want to buy hbd?, Why you do not got 150k of this very easily, maybe people know the potencial of Hive AND do not want to Sell it, waiting for prices going to go to the moon, great you are providen a great amount of hbd líquido to all the comunity.

Why would the price of HBD moon? It is a stablecoin since it is not meant to moon-that defeats the purpose.

As for why, there is not a lot of HBD out there. The float is very tight.

Posted Using LeoFinance Beta

Ohh sorry i want to said the price of hive go to the moon, for this reason people do not chances the hive for hbd consider that the hive go to the moon, sorry for mistakes.

Ah ok. No problem @galberto.

Yes HBD can really help HIVE go up in price. We still have a lot of work to do and need to have use cases for HBD.

Right now the most important use case is for HBD to generate more HBD.

Posted Using LeoFinance Beta

Thank you sr.

I think HIVE and PolyCUB will go to the moon as HBD gets stronger

Posted Using LeoFinance Beta

The much waited announcement concerning pHBD/usdc is finally here. Thanks for the detailed steps on how to go about providing Liquidity. This would be massive

Posted Using LeoFinance Beta

Damn that was too soon

Posted using LeoFinance Mobile

Great.
More utility to HBD added.
Not only HBD itself but PolyCub etc as well.
You guys rock.

LeoFinance is always given to adding value to every blockchain is leverages.

Posted Using LeoFinance Beta

It is leveraging previous activities against what was done. That is the incredible thing.

Posted Using LeoFinance Beta

Massive one towards the HBD,it keeps on getting interesting day by day

Wow,this is definitely great another reason to give more time to stable coin right away

Nice one hear once more, getting more HBD now is more important than ever before

This is awesome, I may not be in poly.. YET I am all for more use cases of HBD and locking it up. Glad to see more demand and I MAY have to put a few bucks in.

Posted Using LeoFinance Beta

YET I am all for more use cases of HBD and locking it up.

That is the bottom line. We are going to need dozens of use cases for HBD. Commerce, collateralization, lending, and liquidity pools are just a few of the use cases.

Posted Using LeoFinance Beta

very soon, very nice

Posted Using LeoFinance Beta

This means that anyone can stake HBD on-chain and earn a fixed yield of 20%.

This is really nice happening in the blockchain as it is beneficial and profitable as more HBD are been stored in savings for the 20% interest applied when saved likewise the pHBD as well all moving in a progressive state.

Posted Using LeoFinance Beta

Finally it's here. Nice to see a way the supply for hbd would be addressed. Cheers to the future of HBD, Polycub and the hive ecosystem.

Posted Using LeoFinance Beta




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Cool, i am in, lets go 🚀🚀🚀🚀🚀.

Posted Using LeoFinance Beta

Trading pHBD on Hive is good. It will also make more people to know about HBD.

Posted Using LeoFinance Beta

The awareness will be great no doubt

Posted Using LeoFinance Beta

Thank you

Posted Using LeoFinance Beta

Whoa! Impressive how quickly you guys moved with this one! On my way to the interface to have a look at it...

Posted Using LeoFinance Beta

Let's Go!!!!!!
This is massive and I'm glad it is happening sooner than anticipated.
This past one month seems to be the most exciting month for Hive, we have all these tasty options to allow everyone suceed.
Thank you so much guys.
Let us get this liquidity pool up to $5mil !!!

Let's gooooooo! :D

Posted Using LeoFinance Beta

This is good news

This is absolutely good news, pHBD-USDC has got many making the rounds, the liquidity is on...

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Hello @khaleelkazi, I have a glitch. The pHBD-USDC farm refuses to show enabled after several attempt. LP par has been added.

Posted Using LeoFinance Beta

There seems to be a lot of glitches today on Polygon/the site. I cant collect my airdrop today and it seems the price on the site is locked.

Posted Using LeoFinance Beta

great one! Any ideas about the 50% penalty for this LP?

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Fantastic. HBD to the moon.

This is great. It'll give PolyCUB token much more utility and value.

Posted Using LeoFinance Beta

Definitely

Posted Using LeoFinance Beta

Great news, nice to have a pHBD-USDC trading pair!

Keep up the great stuff

Posted Using LeoFinance Beta

Wow guys!! This is awesome! A whole new level to soon. Go Leo!!! Go Hive!!

Posted Using LeoFinance Beta

We are really trying to take things to an entirely new level. It is going to take a lot of work and development. Yet the benefits will be well worth it.

Posted Using LeoFinance Beta

Great job guys, HBD needs many pools that we can arbitrage to stabilize it to $1. Both to keep the peg stable and to make decent gains (in addition to Hive Savings' %20 APR), I believe thousands of dollars will be floating to the pool!

Let's go viral on social media 😎

Posted Using LeoFinance Beta

I believe the first level that is vital is to get the LP to $1 million. If they can do that, we will have 500K pHBD in the LP.

This is the first milestone. There will come a point where getting more pulled in gets tough until a lot more are out there.

Posted Using LeoFinance Beta

It is going to be too hard to find HBD in the open market. Since the production is also limited, I expect to see rush into Hive blog to engage and earn the stablecoin pair that yields the highest return 😎

The traffic and engagement is gradually increasing. After some point, the demand may outperform the supply of HBD 💪🏼

After some point, the demand may outperform the supply of HBD

There is no doubt about this. In fact, we might already be there since the supply is so limited. It is an issue we need to correct and, unfortunately, there is only one way: convert HIVE to HBD. But there are issues with that for people.

Nevertheless, we can keep growing. Each day more HBD is being created from those who staked and are earning 20%. This is going to mildly help things along. We might have to crawl for a while.

Posted Using LeoFinance Beta

Definitely this is a great job PolyCUB offers a way to earn high profits from Stablecoins.

Posted Using LeoFinance Beta

Liquidity is very important and leo finance has just done that

Posted Using LeoFinance Beta

Awesome, this is the coolest and fasted project to be executed.
Leofinance have found the best team that everything works with unimaginable sky rocket speed.

I believe it was kicked into overdrive once the excitement was generated by the increase in HBD interest. That kicked things off on Khal's end if I had to guess.

He sure seems excited about it.

Posted Using LeoFinance Beta

I agree with the speed part, they are the best team on hive

Posted Using LeoFinance Beta

It’s one thing to think about an innovation, it’s a different thing to put it into works. The Leofinance team seems to have all hands on deck in ensuring that the hbd gets properly recognized and indeed placed on the map . $5m liquidity pool ain’t no child’s play at all..

Seriously not a child’s play,we all believe leo finance because they will always do what they say

Posted Using LeoFinance Beta

Exactly mate !

$5m liquidity pool ain’t no child’s play at all..

Actually, when you think about it, that is small potatoes. LPs are usually a lot larger than that.

Of course, we have no where near enough HBD available. For this reason, we need to utilize all ways to expand it.

Posted Using LeoFinance Beta

Other than having to regas my TXs cause polygon got busy not has a single problem getting pHBD!

I'm kinda sad that all I can do at the moment is add $26 of liquidity but eh it's a start. I got some larger payouts coming which should get like raise that to $50 or so.

Already almost at $250,000 liquidity.


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Every little bit helps. It is a matter of continually adding to the on chain savings as well as the LP.

All can help to produce more HBD and provide liquidity.

Posted Using LeoFinance Beta

I have one question... How we will be able to keep the pHBD being 1$ since the LP will decide the HBD price?

If a lot of people start to buy HBD the HBD price will raise.

Posted Using LeoFinance Beta

The advantage of the LP is that arbitrage can occur. Hence if things start to move to the high side, there is an opportunity to arbitrage the other way and make some money.

I believe there is even going to be a trading bot running in the LP that will trade back and forth. That will help things.

Posted Using LeoFinance Beta

ok now I understand that we will need a bot to always keep the price in the right place.

Posted Using LeoFinance Beta

That is what automatic market makers tend to be. They are computerized buying and selling. They make money on the spread. One of their primary use cases is to bring the bid/ask prices closer together.

But in a situation like this, it can serve as a way to keep things pegged.

Posted Using LeoFinance Beta

Personally I thinks 20% apr for hbd is the best thing that has happened to hive so for this year and news enable later to be a perfect plan for hive growth

Posted Using LeoFinance Beta

It is one of the big steps forward that is for sure. Alone it is not going to have a ton of impact. We still need a great deal more development.

There are a lot of things we need to build which can really thrust HBD into new markets. One major area we are going to have to focus upon is commerce.

But all in due time.

Posted Using LeoFinance Beta

Development is a gradual process and time will tell. I believe Hbd is going places

Posted Using LeoFinance Beta

Awesome! Now the price of pHBD is even slightly higher than USDC!

BTW, maybe there should be a note on the swap UI denoting this? "0.1 HBD + 0.25% on every wrap and 0.25% on every unwrap"

Posted Using LeoFinance Beta

I think the bridge was quickly put together. That is a terrific suggestion though.

I am sure we will see more added. The flurry of excitement, I am sure, caused things to be rushed.

Posted Using LeoFinance Beta

30% on a somewhat stable coin is very attractive.

Amazed by how efficiently you guys delivered here.

Doesn't the amount of external money that this has the potential to bring into the Hive ecosystem make all of those internal reward pool squabbles laughable?

Just a cool $5 million liquidity pool for HBD...

Phwor!

Posted Using LeoFinance Beta

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