XPOLYCUB - Introducing a new dynamic
Polycub has been getting more interesting by the day since it was launched. The latest feature that’s gone live in the Polycub ecosystem is the Xpolycub Governance feature which I find to be very interesting.
The announcement postreferenced how most DeFi protocols had promised governance at their inception with nothing to show for it to date and it’s quite true, governance tokens were once a buzzword around crypto, launch a DeFi platform and slap “governance token” in the introduction and there’s likely to be a rush for it.
Giving the investors the ability to enact changes and have an impact on the direction of the platform is practically putting the platform into the hands of the investors, it’s a two-edged sword in my opinion.
Most people are shitty investors and don’t know what they’re doing most of the time, giving them such responsibilities might not bode very well but there is a caveat to this, the founder's idea, if allowed to be debated upon in public discourse— could be further improved through proposals that would be voted upon by the people.
Community Whale Wars
It also introduces new dynamics into the system, like Community Whale Wars. Xpolycub holders will periodically vote on proposals to where yield should be more allocated. We are going to see this put into action when other community tokens e.g Splinterlands community with SPS token are onboarded.
So to have more influence over the direction of the yield each community will have to compete for the highest Xpolycub holding power. This is one super cool utility right here for Xpolycub.
Other mentioned examples of proposals include the following;
- How much APY each vault earns
- Adding new vaults
- Changing the claim window for locked claims (currently 90 days)
- Prioritizing collateral
- Directing #PoL
- Etc.
All quite interesting stuff, with even more on the way.
- Bonding
- Collateralized Lending
- Variable Earn Rate
The most recent implementation of the governance system is taking on the Polycub claim window by suggesting options to decrease the claim penalty date from 90days to 15.
According to Polycubs emissions schedule, things are still calm, hence the tokens are finding base in the hands of long term holders.
At the time of writing this post, the price of Polycub is at $0.27. Meanwhile so much is happening in the background
Price is a shitty metric when trying to determine the potential of a cryptocurrency, most of the time. Don’t get caught up.
Hodl and build. Thanks for reading.
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Polycub is definitely a defi 2.0 that is bringing so many things gradually on 1 platform. Nice information shared my friend.
Thank Reeta. Incorporating many interesting things and tying it together. It will be nice to see everything work out together down the line
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Am sure looking forward to SPS on PolyCub, it is really looking promising on here with developments is almost every angle.
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Let’s see how the Splinterlands community will react to this
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Price is a shitty metric but people will always look towards it. So it's unavoidable and I am kind of interested in seeing where things move after emissions are halved. I think the bonding, loans, and other features may need to come out faster.
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True that. We can also agree that those people get to miss out in the end most times.
An ideal situation will be to have everything built and launched at once. But the fast pace-ness of the space doesn’t leave room for ideal situations
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After 33 hours since the first vote placed, where we are now?
15 d supporters = 29 votes...62.35 % xPC stake
30 d supporters = 28 votes...37.19 %
90 d supporters = 3 votes.... 0.46 %
Total Votes placed: 60
Voters from richlist TOP-30....8
Voters from richlist TOP-20....7
Voters from richlist TOP-10....2
Whales are still sleeping...
Everyone can track things easy, by themselves:
https://polygonscan.com/address/0x2caa7b86767969048029c27c1a62612c980eb4b8
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Wow....whales really came to “set and forget” their investment. While the trust is appreciated, we need more active whales around.
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Wow, community whale wars I bet that could get counterproductive.
Counterproductive? Do you mind sharing why you think so? It’s a gamification that is being used on CurveFi and it’s been functional in capturing liquidity.
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Sorry when I think of Whale Wars I was thinking of a few majority token holders arguing about everything killing production by downvoting each others followers into the stone age. I may have misunderstood something or let my imagination run away 🙂
Lol okay that’s fine.
Whale wars in this context is coined from a term used by a popular DeFi platform Curve Finance, as in Curve wars, it refers to fight for liquidity. Several protocols compete in a pool to provide liquidity, the protocol with the most liquidity can direct the incentives of providing the liquidity.
In this case, it refers to Whales competing to have more liquidity so that they can have control over the direction of the incentives for providing liquidity in that pool.
Okay, that is interesting. Before Hive I never used words like stake, and liquidity, and now I am redesigning my business plan to get more liquidity from the different income streams lol it is amazing what 1 year on Hive does to a person kind of like going to University 😉 Thank you for taking the time to explain that.
Lo I can totally relate. You’re welcome ser
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