5 Things to Know About Today's PolyCUB Launch

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Here we are, a few hours before launch attempt number two for PolyCUB. As I said yesterday, it almost seems fitting that after months of waiting, we get to wait one final time. Hopefully today is the day.

On a positive note, however, the 24 hour delay allowed me to watch @taskmaster4450 and @jongolson's interview with @khaleelkazi on their "95th-ish" Cryptomaniacs podcast. If you haven't watched it yet, do yourself a favor and do so. It's a little long but they covered a LOT of ground and gave a very good picture of the future of LeoFinance and CubDefi. Well worth your time.

If you don't have the time, however, I'll flesh out a few things I found very interesting/enlightening/exciting about the upcoming PolyCUB platform and it's relation back to CUB and LEO.

1) CUB is the token on which all new versions will be based.

One of the questions I've had about this launch is how it all relates back to CUB. How will CUB holders benefit from this launch on a completely different chain?

The answer is quite simple. If you hold CUB, you will get airdropped PolyCUB which you will be able to sell for an immediate profit, stake in the PolyCUB Kingdom (basically the same thing as the current CUB Kingdom, only this is on Polygon as opposed to BSC-Binance Smart Chain), or pair it with another token and add it to one of the farms (liquidity pools) being created at the same time. Any and all of these options should yield very good returns for at least the first couple months as the incentives paid to holders will be extremely high early on.

The crazy thing, however, is that if and when this works (as Khal thinks it will) then the plan is to duplicate it on at least three or four more chains, possibly in the next 12 months. If the platform they've spent the last 7-9 months building works as planned, then they should be able to cookie-cutter large portions of it to enable them to bring the same thing to #Avalanche and #Terra and #ThorChain and, and, and... In other words, if you own CUB, you will be getting airdrops every time they open up a new platform.

Does that add any value to owning #CUB? Big time.

2) APYs are going to be extremely lucrative for the first couple months, at least.

I don't know how many people remember the CUB defi launch almost a year ago to the day, but the yields on the Dens and Farms out of the gate were pretty crazy. Over 1000% for a while and staying in the high hundreds for at least a couple weeks after launch.

The same thing is expected with this launch. Early adopters (of which everyone with CUB currently in the Kingdom or paired in a pool is one) will be getting huge returns for the first few weeks out of the gate. Not factoring in price, the amount of tokens holders will receive for their PolyCUB Kingdom or LPs will be very high. PolyCUB is front-loading the distribution of rewards to the early adopters in order to draw in TVL and spread it out into the Polygon Chain. As it is doing this, there will be a "lock-up" period which will deter people from harvesting their rewards and dumping them on the market. If people choose to harvest early, they will pay a penalty out of those rewards and that penalty will be paid to the stakers who are NOT harvesting early.

In other words, not only will holders be receiving the rewards from the initial inflation, they will also be getting a part of these penalties taken from people just yield farming the new platform.

I have no idea how much "extra" that will mean for the diamond paw holders, but it could be significant.

3) The LeoBridge is going to start seeing a lot more action.

Once the PolyCUB platform is live, the LEO token will have utility on it's fourth separate chain. There is wLEO on Ethereum, bLEO on BSC, pLEO on Polygon, and LEO itself on Hive-Engine. This means that you will be able to take assets from any of those chains and move them to any of the other chains through the LeoBridge.

For example, if you wanted to buy some BNB on BSC by using something you have on the Polygon chain, say USDC, then you'll be able to just input the USDC amount you want to swap, pick the token on BSC you want to convert it to (in this case BNB), hit a button, and, BAM! it will do it all for you.

This feature already exists with Ethereum and BSC but the ETH fees are so high it doesn't get a lot of use. However, Polygon and BSC are both much lower fee chains so bridging assets from one to the other now becomes a much more reasonable proposition. As more and more people learn about CUB and PolyCUB (lots of marketing and press releases coming from the team), I think there's a very good chance that people will start utilizing this feature much more. It really doesn't get much easier than inputting what you want to swap and what you want to swap to, and clicking a button. Which brings me to point number four....

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There could be a liquidity crisis coming on LEO.

As of right now, over 50% of LEO is currently staked on Hive-Engine. That only leaves roughly 5M LEO tokens out there somewhere. At current prices, that means there is only about $1.25M worth of LEO floating around in liquid form. If and when this bridge starts doing decent volume, there's going to need to be another good chunk of pLEO in the pLEO/MATIC pool for liquidity, just like there's a good chunk in the bLEO/BNB pooland an even bigger chunk in the wLEO/ETH pool. With the yields this pool is going to be paying to liquidity providers out of the gate, I would expect a pretty substantial amount of that remaining liquid LEO to get locked into the pLEO/MATIC pool, thus taking even more out of the liquid supply.

I don't know how much that will affect the price initially, but if and when more people start finding their way to LeoFinance from learning about PolyCUB and CUB, and also from the marketing campaign being launched in conjunction with the PolyCUB launch, it stands to reason that the demand for LEO will rise. Couple this with the fact that there may very well be a couple more CUB launches on different platforms in the months ahead that will also need Leo pools and you have the makings of a supply squeeze that could really vault the price of LEO upwards.

Definitely something to keep in mind as you're deciding where to focus your efforts over the weeks and months ahead. And finally....

This launch is only the beginning

As excited as I am about what PolyCUB is bringing to the table for the LeoFinance community, it is really only the beginning. In the weeks and months ahead the LeoFinance team plans on making the mobile app much more robust, providing a major facelift to leofinance.io, increasing the overall utility of Hive.Stats (including providing a "burn to learn" version where you would burn some LEO in order to get even more functionality out of the app), generating a much more user-friendly way to sign up for LEO, and, oh yeah, launching a little app called #ProjectBlank, as well as the aforementioned possibility of launching CUB on more chains. Looking at the progress made over the last year, it's hard to even envision what this place will look like in another year's time.

Khal started the last 12 months with a very small team and a very broad "roadmap" of where he wanted to take LeoFinance. Since then they've added a team of seasoned devs, done a ton of research on dozens of projects in the cryptosphere, and have now built one of the most complex Yield Optimizing Defi Platforms in existence. They've also launched the mobile app and built out LeoInfra among other things. They've learned some hard lessons along the way but they've also used those lessons to get better.

Through it all they've stayed true to the vision of creating the most value they possibly can for the LeoFinance community and they've also remained committed to making sure the projects they are building are not only solid stand-alone projects, but also provide value back to the original tokens of LEO and CUB.

So, in a few short hours #PolyCUB goes live. Will it be the catalyst that launches LeoFinance and CubDefi into the mainstream crypto world? Too early to tell right now, but in my mind, it's no longer a question of if it will happen, but when.

Keep stacking boys and girls. The ride is just getting started.

PS. Did you know that there is a swap.hive/swap.matic pool on BeeSwap? If you need to get some MATIC into your Polygon wallet for transaction fees, that would probably be the easiest way to do it. Just thought I'd pass that along....

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21 comments
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exciting times indeed!
over this past year I have proven to myself that I am a terrible trader....but hodling comes naturally! hopefully now it will all start to make sense ;p
question: in your last post comment section you mentioned bridging matic from eth network (on metamask) to polygon (as Wmatic?). What exactly do I need to do to do that?

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It was an excellent show and one everyone involved in #Leofinance should watch. Yes we went for a while but we do not get Khal on often and there is so much taking place.

Glad you enjoyed it. Everyone should be getting excited about all of this.

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I certainly am. I really didn't have a full understanding of just how powerful this all could be until I watched the episode. The amount of value this could create for LeoFinance and CUB is pretty spectacular. Hopefully it all goes according to plan. Something with this many moving parts is bound to have a few issues along the way. That said, they spent a LOT of time in development and went through the full audit first so hopefully the finished product runs as designed.

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I missed the live show but I watched the recorded version.

Insightful show

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It took a while but it's finally happening!

Despite all the crap that's going on with the world in 2022 at least we can find some comfort on Hive because things are taking off around here.

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I agree. This could be a serious game-changer for Hive, Leo, Cub etc. We'll see how it goes. Less than an hour to blast-off.

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(Edited)

How to start with Matic…is my current bsc can be used at matic???
For me polycub marks entry into polygon.
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You'll need to add the Polygon network to your wallet first. There are tutorials in the "Docs" section on cubdefi.com.

Then you'll need to get some MATIC on that chain for fees. You can do that by exchanging swap.hive for swap.matic on BeeSwap or TribalDex. Then deposit it into your Polygon wallet (metamask or whatever you use). THEN you will be able to move bleo or regular LEO over to the polygon network where it will become pLeo.

Like I said, most of this is in the Docs on CubDefi....

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Those are some great tips. I think the matic faucet should be enough to cover the transaction fees. It does look like it's still delayed as the site doesn't redirect properly.

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Down to 26 minutes. Another slight push back...

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Indeed, there is a lot more interesting stuff coming into the Leofinance ecosystem.

Reading that there could or will be an expansion to other blockchains like Terra, Avalanche, and Thorchain made me smile. Really really mind-blowing.

These give me more reasons to be committed to Leofinance and hold onto the Leo and Cub tokens.

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Absolutely! In fact picking up more CUB would probably be a really good idea since all future airdrops on other chains will be based on how much CUB you have staked. If you have some now, you should be getting some of the PolyCUB airdropped to you. You just have to get set up on Polygon Chain and claim it.

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This should bring some excellent cross-chain appeal and have some new investors come into the HIVE blockchain then, especially if they hear they can do so much with little-no fees! The more popular it gets on other chains, the more people will become aware of HIVE once they start doing their research.

I dont personally use BSC or Polygon myself (and my ETH is only for simple sends, I am not using DeFi there until sharding is complete), so I will just stay here on HIVE, but I wish the best to those taking advantage of this new platform on other chains.

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Yes, the web keeps spreading out further and further. At some point it will start bringing people back to Hive and Leo and this place is going to explode.

If you want my opinion (which you didn't ask for :-)) I might dip my toe into the CUB on BSC. All of these future airdrops will be based on the CUB you own there. You don't have to do a lot, but if you buy some CUB and put it in the Kingdom, it will autocompound for you at over 60% APY right now. PLUS, you will get airdropped some PolyCUB for the next 58 days.

Like I said, I'm not telling you what to do with your money, but it might be worth checking it out and maybe at least dipping your toe in the water.

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No worries at all man! I always appreciate some good advice on how people are optimizing their DeFi yields! It makes me aware of the possibilities and gives me ideas! :D My strategies for the most part are much more boring than yours ha ha, about 90%+ of my DeFi stuff is nothing but blue chip coins for LPs and staking: ETH, AVAX, LUNA, UST, and I am soon to deposit some BTC in Thorchain. I have been in crypto since 2010 and seen so many coins (and ICOs) die that I am too scared to buy and do DeFi with anything but the safe coins for the most part. :) I do have a few % of my portfolio in higher risk coin LPs like Haven protocol and LBC (the coin of LBRY network/Odysee.com free speech Youtube alternative), and of course HIVE, but its pretty small.

I do have a slightly more complex DeFi play on AVAX network on Trader Joe though: the AVAX/UST pool gives about 10-18% APR + is one of the only pools that gives TWO LP rewards: ~14% LUNA APR + ~23% JOE APR. Then I take the Joe and stake it, and get about 34% APR rewards paid not in JOE but in USDC. And lastly the LUNA I earn gets swapped back to native LUNA and staked for another ~8%. So it is 5 revenue streams:

  • about 14% avg APR on AVAX/UST LP
    -23% JOE APR
    -14% LUNA
    -34% USDC for staking the Joe earned
    -8%/15%+ LUNA staking rewards (this will increase to 15%+ soon, as I just discovered a way to do liquid LUNA staking!)

Then I will sell the USDC and will buy more AVAX/UST to increase the principal investment...which will make all 5 of the revenue streams grow faster, and just keep the cycle going until the LP bonus rewards pool is empty. :)

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