#HBD has been like Elon Musk lately on the Hive Blockchain, by this I mean, it has always been a headline. This is expected due to the changes HBD has undergone lately.
Recently, HBD interest went from 12% to 20% APR. This was a significant change on the Blockchain, and a change that was welcomed by all.
HBD did not stop being on the #Leofinance headlines, recently, HBD was added as a wrapped token on the #Polygon Blockchain, which means that in can now be used to provide liquidity on the Polygon Blockchain and like Polycub staking, will yield high APR, which could be up to 70% APR.
After going through several posts on this, here are my key takeaways:
HBD as Liquidity on the Polygon Blockchain is Safe and Profitable.
On the Polygon Blockchain, wrapped HBD (pHBD) which is a stable coin will be paired with another stable coin USDC to provide liquidity on the Polycub Blockchain. As we all know, the idea of a stable coin is that they are less vulnerable to volatility.
So, you reduce the risk of impermanent loss resulting from the volatile nature of other traditional currencies while enjoying the 60+% in APR.
Even if there are losses resulting for an unanticipated volatility (deflation), the profit is good enough to shield over any losses incurred.
Adding pHBD-USDC to the Liquidity Pool is Fairly Simple
There has been a plethora of tutorials on how to do this. Basically, you begin with wrapping your HBD to pHBD through a wrapping bridge so that it can be used on the Polygon Blockchain, you'll thereafter need to add pHBD to your wallet (Trust or Metamask).
Next, obtain some USDC or simply convert part of your wrapped HBD to USDC. Both of which (pHBD and USDC) should be in the same wallet.
After which, go to the Polycub.com in the farms section, connect your wallet and add the pHBD-USDC pair to the liquidity pair pool.
Adding pHBD-USDC to the Polycub Liquidity Pool is Altruistic
Compared to USDC, HBD is less stable. Thus, through this initiative to add HBD to the liquidity pool, the aim is to make HBD more stable which will consequently improve HBD and according to @Khaleelkazi, attract DeFi whales to Hive.
Final Words
Adding pHBD-USDC to the Polycub Liquidity Pool could be a noble and profitable course to follow. However, as always, this is not a financial advice, so do more due deligence, and you may also need to remember that Polycub is more or less a centralized crypto project, so you need to trust the Leofinance team, who as far as we know, had been credible so far.
Thanks for coming around! Peace out!
Posted Using LeoFinance Beta
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