Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.
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Posted Using LeoFinance Beta
Yikes! Things are starting to get crazy real around here. @khaleelkazi has really gotten the powers-that-be in HIVE buzzing with his PolyCUB and pHBD LP. If you haven't read this pseudo-proposal from @threespeak, I highly recommend you doing so. It is jam-packed full of ideas that could flip not only HIVE, but the crypto-world in general, on its head. Big, BIG ideas that could literally launch the HIVE ecosystem into quite possibly the most important blockchain in existence, right alongside Bitcoin and Ethereum. Read it!
https://leofinance.io/@threespeak/hbd-partial-insurance-with-btc-proposal-to-print-1m-usd-of-hive
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We finally saw the pHBD-USDC LP go live.
What are your plans? Are you going to get into it or stick with the HBD Savings.
There are a few options with pros and cons on each.
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For a start HBD savings will be the main target for most user. It's easy and simple.
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At 20% and no messing around, the savings is the place for my HBD for a while. I just went through the nightmare of converting HBD to xPolycub and probably won't do it again for a while.
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That's nice. Had same experience when i tried it with cub back then but lost almost 10 leo before i could get the process.
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Maybe they'll invent something like Keychain for it. Do you remember the old days before that came along?
The first time is the hardest (and scariest). Once you get it done once, the next times become easier and easier.
I get it though. There can be a lot of anxiety moving things around in unfamiliar territory.
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You're not wrong there! I moved my tokens through Hive Engine and couldn't find a tutorial for that. Fortunately, I was only moving a tiny amount so had room to experiment (and succeed).
As you say, next time will be easier!
I'm lucky if I can concert my HIVE into HBD.
I'm more comfortable working with CUB now than I was 2 months ago when I began. When it comes to PolyCub, I'm still at the #ELI5 stage.
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It is and a great return at the moment. Hard to deny what it can offer or do to an account over a few years.
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I love that, I'm still confused though
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What are you confused about? Just deposit HBD and the code gives you 20% interest right now.
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Confused whether to join pool or to stay with saving
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I harvested my CUB rewards and went through the whole process of bridging them over, adding pHBD to metamask and Sushiswap, adding the LP, confirming everything all over the place, and finally swapping the rewards for pHBD and USDC and adding them to the pool. It wasn't much. Just $25 on both sides so a whopping $50 total but...I did all the heavy lifting. Now it will be easy to add to it whenever I want.
At this point, I'm leaving my HBD in savings since it's 3 days to get it out. If I decide to add more to the farm I'll probably do it with fiat. I like the pool vs the savings account though because even though it's technically easier/faster to get it out of the LP, it feels like more work. I've had a decent chunk in the HBD savings a couple times and have taken it out to use.
On the flipside, I haven't touched my LP stakes on CUB since I put them in there probably a year ago now. There's just something about all the steps you have to go through to get it out that makes it easier for me to resist the temptation to move it. That and the fact that you can't really see how much it's worth while it's in there. You can check on DeBank or whatever, but it's not the same as the number just staring you in the face in savings.
Just me...lol
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I wanted to put HIVE into savings, then I realized that the new APR applies only to HBD. Now I have to wait for Monday before I can move use HIVE to buy HBD before moving it into savings. I'll figure it out.
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Yes that point isnt exactly clear. Hopefully we start to look at ways to enhance the return on powering up HIVE.
That is something that I feel is needed to encourage people to HODL HIVE.
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The point is actually clear enough. In my case, I didn't see a direct way to put HIVE into Savings as HBD, so I need to find a way to buy HBD first before I can place it in Savings. I think I can do that via Hive.Blog or PeakD, but I'll need to take time to find out where I saw that feature first.
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wallet.hive.blog
Drop down arrow next to your liquid Hive --> Sell
Will take you to internal exchange. The liquidity isnt great but you should be able to trade in $100 blocks.
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Thanks for the address! I'll try it on Monday night after the 3.5-day waiting period expires.
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IIRC, the way to do it is to use BeeSwap to convert HIVE to swap.hive. Then there's a pool to convert swap.hive into swap.hbd. Then you withdraw the swap.hbd to HBD in Hive Engive. You pay the swap fees a couple times but it's quick and painless and all in house.
Now, I haven't done that for a while so if you try it, use a small amount first so if I'm misremembering, you're not stuck moving a bunch three or four times, but I'm pretty sure this is the way.
Otherwise, you just convert in Peakd and wait the 3.5 days.
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There are many reasons to hold HIVE. First, there's the voting power for curation. Second, there's the governance power for voting on witnesses and proposals. Third, there are the resource credits needed to transact. And fourth, and probably most important, there is the profit potential on upwards price movement.
I mean, 20% on HBD is great and all, and I definitely think people should take advantage of it with some portion of their portfolios. But there is no comparison between making 20% owning HBD and making (hopefully) 1000% or more by holding Hive. If you think HIVE is going to break out and go to $2, $5, $10 or more like I do, then the vast majority of what you have should stay in HIVE. And since it's not likely to just scream to $10, your best bet is powering it up so you can make the extra curation dollars and the almost 3% interest on your HP holdings.
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You can use mycublp to see how much is in your pools. Just connect Metamask and it pulls up the numbers for you.
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That's what DeBank does, only it can do it for all the different platforms...
I am going to stick to the HBD savings. I feel that it won't be too late to swap over later if I really want to. It does look like Khal plans to change the rewards structure so it's like 30% at least or something like taht.
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I want to see how everything plays out
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The TVL in the pHBD/USDC pool is currently at $230k. Any guesses on wen $1M?
I say 15 days. When the LMT post comes out on 4/30, I think we'll have just reached it.
Anyone else have a guess? I've got 10 LEO for the closest but if I win, anyone who guesses has to send me 1 LEO. :-)
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I will guess 1 week 4/22.
To me, there will be some people who are moving it out of savings. None of that money flowed out yet.
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REMINDER!!!
Grab all those #CANDIES. They are almost as good as pHBD* although not quite.
This is something for all to taste.
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Thanks for the reminder. Can I change my CANDIES for pHBD?
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Done. Thanks for the reminder as always
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@khaleekazi is there any reason why one cannot refresh the profile page on the leofinance mobile app? My profile was last updated 2 days ago. I have to relaunch the app several times to get new feeds or see the new posts I had.
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