Everyone is eager to know how much liquidity the Polycub protocol owns and there were talks about including a page on the Polycub website with a live feed of the POL assets. I hope this feature is still part of the roadmap since it would make it way easier for investors to know how the project is growing.
While we don't get an official page with all the POL assets there is an alternative way to find out, since this is crypto everything is openly available on the blockchain for everyone to see. We just have to know where to look.
After digging deep into the Leofinance wallets I found out that the POL assets are mainly being held in these three Polygon wallets:
- Wallet 1 - 0x1c9e05bfe2992d790378878157336380005ee5f8
- Wallet 2 - 0xcbd3d8b6848a0be1364ec020d9a62b500d55c744
- Wallet 3 - 0x967ef5d5214e1b5f8207069d8b7c9ec5cfb24818
The team never published official information about the wallet addresses and I suspect there are one or two more wallets. In this post, I will go over the assets held in these wallets. I'm hoping that the next Polycub monthly report includes all wallet addresses and more information about the POL than the previous one did.
Protocol Owned Liquidity
| Assets | Value in USD |
|---|---|
| PHive - Polycub | $70,374.00 |
| MATIC - pLEO | $37,816.00 |
| POLYCUB - WETH | $21,133.00 |
| PHBD - POLYCUB | $21,718.00 |
| pSPS - POLYCUB | $13,268.00 |
| USDC - PHBD | $399.00 |
| vexPOLYCUB | $19,563.00 |
| xPOLYCUB | $22,843.00 |
| Total | $207,114.00 |
I collect all of this data using Debank and their prices earlier today. The value in USD is always changing but this snapshot is good enough to get an idea of how much the protocol-owned liquidity currently owns. There are a total of 1,271,000 Polycub between the Liquidity pairs and the vaults. Meaning that the POL currently controls around 18% of the total supply.
Always growing
The growth of the POL has been slowing down quite a lot because of the bear market. Lower transaction volume means fewer fees for the protocol but as Polycub starts getting deflationary we will see the price and volume increase once again. The volatility of HBD and Hive also helps the protocol collect more fees both from wrapping and trading.
The POL will keep on growing forever and I plan to keep tracking it, next month I will do another update on the assets owned by the protocol and compare them to today's stats.
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This is very relevant to my interests, so thank you for this information.
How many digits we will add in the bull-market?
At least $10M !
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That would be awesome but I think that might be a little too optimistic. The protocol will have to spend a lot of Polycub to feed the Vexpolycub vault so that will hinder the growth of the POL. Lending will be huge for polycub, I could see it reaching $3 million by the next Bull market
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I am a bit surprised to see that the USDC/pHBD pool only has 399. I was expecting it to be higher as I have seen a few people commit quite a bit of funds over to it.
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This is how much liquidity the protocol owns. Not how much USDC/pHBD there is in the pool.
Interesting. Thanks !
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