PolyCUB Update: Is the Platform Ever Going to Turn Around?
We've spent so much time lately focusing on CUB and talking about CUB. Most people are wondering: what about PolyCUB? PolyCUB had PIP3 a few months back and it didn't get passed by xPOLYCUB and vexPOLYCUB stakeholders. The problem with this is that we believe that PolyCUB needs to make a radical shift to be more like CUB.
Namely, this means shifting from a monthly halvening schedule to a fixed rate of inflation OR a variable rate of inflation that focuses on paying LPs enough incentives to actually pool HBD and HIVE on the platform to actually grow pHIVE and pHBD liquidity.
CUB has shown that having bHBD and bHIVE Liquidity can generate massive amounts of revenue each month. The problem we're facing on PolyCUB is that the deflationary setup has actually become a detriment. We tried to build a platform with sustainable tokenomics - and we achieved that, in some ways - but in exchange for achieving that, we actually caused some other pitfalls. Namely, stunting the growth and revenue of the PolyCUB Ecosystem.
We have some ideas to fix this and the next PolyCUB Improvement Proposal will be going live this month. This proposal will aim to get PolyCUB back on track . We want to align incentives with attracting productive capital to the platform.
The prior proposal was rejected by a few PolyCUB whales who found it to be unclear and too quickly timed. We are aiming to make a very clear proposal and remove a lot of the uncertainty around PolyCUB. Again, on CUB, we feel like we've finally hit a model of sustainability that works... and works well!
In this clip, Mitch and I talk about some of the ideas that have been circulating with the team and a few community members. We believe we can turn polycub around in very much the same way we did with CUB.
We've given CUB the spotlight to show that this model of sustainable, reliable and growing yield can work with bHIVE and bHBD. As long as there is sufficient liquidity and that liquidity continues to deepen. That's the real key here.
Be ready for a proposal sometime this month highlighting the changes we want to make to PolyCUB and why.
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
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▶️ 3Speak
Good to hear polycub is getting some love soon! Tried a thing didn't work quiet right, try something else. This is exactly what polycub is for, finding what works and what doesn't!
polycub is the next-gen defi that you have created and I am still confident that this will rock once the market is in better shape.
If at first you don't succeed try and try again :-)
I think that CUB has definitely improved with changes and moving that direction in polyCUB would be beneficial as well.
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I saw many projects that were not going well then the owners dropped the project.
But it not the case with Leofinance team.
I saw how CUB was improved with the new working method and I continue to trust the team can make a U-turn with pCUB.
Appreciated and hat off to the team!
I wish you a year full of prosperity and health to implement all the good things to the community!
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If these low trading volumes continue, it won't be difficult to get the APR up for POLYCUB. If we could get the protocol to generate more revenue to buy back POLYCUB, getting more TVL will become very easy.
What about bringing more wrapped assets or cross chain swaps/bridges between Polygon and BNB?
!PIZZA
!CTP
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I gifted $PIZZA slices here:
@vimukthi(2/5) tipped @leofinance (x1)
Join us in Discord!
Missed PolyCUb updates for months. Glad to have a sound again from that end.
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