PolyCUB is the newest addition to the CUB Defi family. Polygon CUB extends the ecosystem from Binance Smart Chain to Polygon.
An allocation is dropped to holders of CUB over a period of 60 days. The token is currently experiencing a rapid inflation phase. Initial inflation started out at 5 PolyCUB per block (every 2 seconds) and already dropped to 1 tokens per block. Emissions will stay at 1 CUB per block for 1 more week.
Governance Vote
The latest feature is the use of xPolyCUB as governance token:
Introducing xPOLYCUB Governance | First Vote: Reduce the Locked Claim "Power Down" Window.
The first voting window is closing in a few hours.
Let your voice be heard
Voting participation at the time of his writing was still low. Only 73 votes were cast. Now there are 78 votes cast, out of a total of 554 potential voters (14%).
Looking at Numbers
One special feature is the option to stake PolyCUB in order receive xPolyCUB. xPolyCUB receives inflation and 50% of the early harvesting haricut.
The growth of staked PolyCUB has been slowing down:
| xPolyCUB | Growth xPolyCUB | staked PolyCUB | Growth staked PolyCUB | |
|---|---|---|---|---|
| 13.03.2022 | 118039 | 1155480 | ||
| 20.03.2022 | 147146 | 125 % | 2143376 | 185 % |
| 27.03.2022 | 165587 | 113% | 2946201 | 137% |
| 03.04.2022 | 174638 | 5% | 3414844 | 16% |
| 10.04.2022 | 182071 | 4% | 3659610 | 7% |
| 17.04.2022 | 185563 | 2% | 3799559 | 4% |
| 24.04.2022 | 189549 | 2% | 3923194 | 3% |
Ratio of staked PolyCUB to xPolyCUB:
Top 50 accounts ordered by percentage:
As of April 24th, total PolyCUB supply is 5'369'497. Of those, 73% is staked in the xPolyCUB vault, which is an equivalent of 1'059'262 Total Value Locked (TVL) in the xPolyCUB vault:
Price of PolyCUB and xPolyCUB over time:
Data taken during airdrop claims.
Stake Distribution
Account classification
- Whale = Accounts holding > 1% of total supply.
- Investor = Accounts holding between 0.1% to 1% of total supply.
- Retail = Accounts below 0.1% of total supply.
Whale Domination describes the share of tokens whales hold.
A few tokens for comparison:
| Token | Domination [%] |
|---|---|
| DASH | 4 |
| ETH | 14 |
| HIVE | 40 |
| DOGE | 45 |
| BTC | 63 |
| VET | 74 |
Distribution as of April 17th:
| Whale Domination % | Investor % | Retail % |
|---|---|---|
| 70.68 | 22.4 | 6.92 |
A whale domination percentage of 71% is extremely top heavy, but it is early times and domination has been dropping from 76%.
Out of a total of 554 xPolyCUB addresses there are:
| # Whales > 1900 xPolyCUB | # Investors | # Retail < 190 xPolyCUB |
|---|---|---|
| 19 | 79 | 456 |
xPolyCUB distribution across accounts:
| Max | Mean | 3rd Quartile | Median | 1st Quartile |
|---|---|---|---|---|
| 25378.46 | 3504.16 | 100.00 | 18.67 | 3.82 |
The extremely large difference between mean and median balance shows a strong concentration of assets in the top quartile. Although still very lopsided, the distribution is slowly improving, which can be observed by the Herfindahl–Hirschman Index (HHI):
The HHI is a measure of industry concentration or competitiveness. Increases in the Herfindahl index indicate a decrease in competition. The scale ranges from 0 (highly competitive) to 1 (monopoly).
Data source: polygonscan.com