Over 100% APR PSPS Polycub Farm and Expectations

Development on Polycub are on steroids these days, particularly with the addition of pSPS into the farming options. Just a few hours ago, pSPS was added into the mix, giving investors the opportunity to farm Polycub tokens in a pSPS-Polycub pair.

I decided to test out the new wrapping feature and it worked smoothly. Just like with pHBD and pHive, we have yet another asset from Hive blockchain ported to Polygon Network that offers investors the ability to earn yield from their asset. This is how to wrap SPS into pSPS and access it on Polygon Network.

• First of all, you have to ensure you have SPS tokens in your wallet on Hive. You can easily check your SPS balance at splinterlands.com but you will then need to move the SPS to Hive-engine wallet.
• After confirming your SPS balance, go to https://wleo.io/sps/

• Input your Polygon address and the amount of SPS that you want to send to convert to pSPS.
• After filling in the required details, click on "Transfer" and then input your Hive wallet address/username where the SPS will be deducted from.
• Confirm the transaction.
• To see the pSPS in your wallet, you will need to add the contract address and I normally get it from the Polycub docs page. However, it seems like the contract address hasn't been added there.
• However, through Polygon scan, I found the contract address to be 0x28cEAd9E4ff96806C79f4189eF28FC61418e2216. For confirmation, you can also check it on Polygon scan yourself here
• I attempted to wrap 70 SPS and received 68.25 pSPS in my wallet.
• After that, you use the aforementioned contract address to import pSPS to Shishiswap.

• FInally, approve the pair, stake equivalent values of both tokens and start farming Polycub by staking the pair in the farm on Polycub.

Decent value

At the time of writing, the dividend for staking SPS on SPlinterlands offers 57.39% APR, if you include the fact that you receive both voucher tokens and SPS tokens for staking. This is fair value but on Polycub, you now receive almost double that APR, thus incentivising moving over to Polycub.

The Leofinance is constantly looking out for avenues to drive traffic and value into the various projects. As far as communities go on Hive, I believe the Splinterlands community is one of the most active of the lot and this move will drive some desired traffic towards Polycub.

In about 6 days time, Validator licenses will go on sale and 80% of the SPS generated from sale will be burnt. On top of that, a bit over 50% of SPS tokens are still staked, and now we have this new avenue to stake whatever available SPS is in circulation.

As I see it, this move is going to be mutually beneficial to both Polycub and Splinterlands in the long run. I think a decent chunk of SPS will be transferred to Polycub, thereby increasing the reach of the SPS market by making it available for anyone on Polygon Network.

For Polycub, this is yet another addition to the growing value of the project. As more people troop into the farming pool with their SPS, we'll see the TVL of Polycub continue to rise, and in the long run, this will reflect on the price of Polycub, especially when the designed scarcity kicks in years from now and the PoL rises from the various value accrual assets in the system.

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