For this post I’ve decided to share my knowledge on POLYCUB.
Polycub is a decentralized finance platform designed to provide value by providing liquidity or by staking it. DeFi works on blockchain and smart contracts as programs embedded on a system to execute decentralized financial transactions. A smart contract is different from a manual contract because while manual contracts can be subject to amendment and adjustments, smart contracts are rather specific and free from any form of alterations and third party.
On polycub I noticed that there are various ways of earning, there is a liquidity pool where liquidity is being provided and there is staking part where you stake your polycub and have a xpolycub.
Liquidity pool is a sector where liquidity is being provided in the form of liquidity pairs. Liquidity providing has a higher interest rate but riskier compared to staking it. Due to impermanent loss. This is a section of Defi I will have to learn more and talk about in the future. Liquidity providing is the ability to make money available for transactions. Without liquidity in the liquidity pool, then tokens could be said to be dormant and without value. Interest, however is earned in the defi token of the blockchain and smart contract.
POLYCUB is the indigenous token for the POLYCUB platform. Users can also stake POLYCUB into xpolycub, in xPOLYCUB it is subject to the X block locking period which is 90 days. If a user harvests his earning before the 90 days locking period then fifteen percent of his staked token is distributed among other users on xPOLYCUB.
I used to think polycub was on the hive blockchain till I did my own research and realized that it’s on the polycub blockchain but the Leofinance team are responsible for the project. While doing my research I realized there is another cub in the family which is the cubfinance but on the Binance Blockchain. The Leofinance team are really cool, having 3 products on different blockchains.
I have learnt the meaning of Defi and the qualities of investing on polycub. I also want to focus more on XPolycub, that’s a really cool feature. It’s a number going up all thanks to the FUDers who pay the 50% penalty fee anytime they unstake their xPolycub.
Thank you for dropping by.
