pHive-Polycub & Polycub-Weth are the ones getting the yield increase. I guess it’s the fella that bought 30k Polycub before the expiring time that boosted it. This is why it’s necessary to buy some Polycub for governing especially now that it is cheap
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Yield Wars are what gives CRV the vast majority of its value.. In fact, there are entire platforms that have been built to do "Vote Bribing" on Curve where they bribe people with enhanced APY to give them veCRV.
The Yield Wars have come to POLYCUB. This being the first vote, we expected things to get shaken up dramatically.
Now, we anticipate a lot of POLYCUB staking to get yields to change in favor of certain vaults over others.
Someone bought 32k POLYCUB this morning before the vote ended and staked it all. I imagine many more will start doing this to prop up the yield in their favorite vaults.
With vexPOLYCUB, we'll add yet another dynamic to Governance which will allow users to lock up xPOLYCUB for 2.5 years to get amplified rewards + amplified voting power over the Governance System.
On our path to building the best Yield Platform in DeFi 🚀
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So if I understand this correctly - holding xPolycub allows you to basically direct the inflation to the pool(s) of your choice, just like Curve, but with the monthly halvings it seems like soon there won't really be much of any inflation to direct. Am I missing something here?
Correct
Inflation halvens monthly, so we still have a ways to go. As inflation reaches the end of the curve, it will become super low relative to how many tokens are being distributed - not necessarily the value of those tokens.
The argument you have here is the counter-argument to the success of the platform long-term. We’ve designed mechanics to accrue value in various forms and that value will begin buying POLYCUB and distributing it to the LP incentives pool once that curve starts to flatten.
All of these contribute to the pool of capital that is buying POLYCUB and distributing as LP Incentives in the future. The current value prop of governance is to control inflation. The future value prop of governance is to control protocol cash flow
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And will the governance votes influence the way PoL distributes rewards, for example, in the future, when inflation will be close to zero?
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Yes. Just think of the yield pool as a rewards pool of money.
Right now, that pool is made up entirely of inflation.
In the future, that pool will be made up entirely of revenue accrual by the protocol.
The pool is directed by governance in both scenarios
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Nice! It makes sense and gives lots of control over rewards flow to the xPOLYCUB stakeholders.
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Definitely this is definitely to the best time to acquire some and keep in your walk right nnow
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