PolyCub is a Defi Yield-based Optimizer Built on the Polygon Blockchain. It is like Version 2.0 of Cub Finance, which is also a yield optimizer but built on Binance smart Chain.
PolyCub is built by the founders of Leo Finance, a social microblogging platform on Hive Blockchain, where folks and experts in the crypto industry talk and share their experience in the World of Crypto, Blockchain, and Finance.
When did I first hear about Polycub?
I first heard about PolyCub in the month of December 2021, perhaps I'm mixing it up and it could be Late November. When I did hear about it from sighting some slight information on a Blog post on Hive Blockchain, I learned that it was from the creators of Cub Finance. Some of the great many people running Leo Finance in accord. I was seeing lots of Video AMA's being released from the creators behind Polycub (probably analysis of those techie details, what else can I call it?) but I never watched even just 1 of them. Why so?
Well, that takes me to the important subject of this post - I never joined any videos and read any posts because I believed it to be way out of my league.
Hive is SOOO Easy, I love it because I love simple things. The whole Idea of Defi (on the other hand) is something that never appealed to me because it was so hard to understand. Once the terms are not self-explanatory enough, I bolt away. You especially hear terms like Yield Optimizers, Farms, Dens and they never mean what I think them to be. ALWAYS.
I also struggled with the fact (Or perhaps I was indifferent?) that it could really be me stepping into a huge project very early and becoming an Early Adopter. PolyCub was too difficult for me to understand and I didn't try hard to understand it.
In reference to Polycub, What would I have done differently?
As my position in the Crypto, Blockchain Gaming, Defi world is increasing, I'm understanding more about Guts & Intuitions. These two abstract senses could be somewhat destructive (as opposed to our realization of them) in the real world because as humans we tend to mix real-world data with what appearances they take. BUT decidedly - Gut & Intuition are very reliable in the world of Crypto, at least, up till my current level of observation.
For Example;
When a Project seems like a HoneyComb Trap, You sense it immediately - Your final decision to push in or pull out is only fueled by desperation, greediness, skewed courage NOT your inability to access the shaky situation.
Consequently, I knew Polycub would be successful, and it was driving me crazy that I couldn't bring myself to understand it, so it took its effect in indifference.
Pls NOTE this; In addition to my indifference borne partly out of lack of Knowledge of Polycub, I want to also note that having Spare Investment Money could cause a lot of folks to follow a positive signaling Intuition that they have, like in the case of PolyCub. Just like many others crypto investors, for me, that is a given. My ideal situation would be to have enough Cash to Invest in projects that I believe in (whether they end up successful is another matter).
So yeah, some of my indifference was born out of this, and lack of Spare Investment Funds is a factor that;
(1) Can be Overcome - by working Hard in Blockchain
(2) Should never be faulted - because Opportunities never Run Dry
So my conclusion is this? - Even if I didn't have huge spare investment money for PolyCub, I should still have gotten to understand it better because I'm not only educating myself, I also stand the chance of becoming an Early Adopter and turning over a small investment into extras through the wonder of compounding income.
What is my current stance in Polycub and How was it achieved?
The first Trigger I had to delve into Polycub was a Hive Blog I read of it and in this post, the APR (Annual Percentage Returns) that was mentioned seemed definitely like Hogwash to me. When you understand the way APR works, you can immediately tell and group projects and LP staking returns in an instance - It's like having a sixth sense. And here was Polycub talking about APR over a thousand percent, unlike anything I've ever seen before.
And can you just Guess? That Trigger worked like Magic - I went ahead to understand everything about Polycub and Cub Finance in just two days, a couple of hours in each day too.
Day 1; Investing in PolyCub
The APR I could see in PolyCub Farms was almost unreal to believe and I was at a doubt whether it would actually work. I've had a meta mask wallet (that I've never used previously), so I was set up properly, switched to the Polygon Network which I'd learned how to add since last year. I decided to give it a shot in the Polycub - USDC pool in Farms because it had;
(1) the second-highest APR among all pools
(2) it seemed safer than the PolyCub - wETH Pool.
Frustratingly, there was no place to purchase Polycub, because I knew that once I did purchase it, I could swap half of it into USDC. The Link directing me to purchase PolyCub had no PolyCub anywhere in sight (I later learned that, you have to first import the tokens for it to show up).
The second obstacle was that I didn't have crypto to purchase PolyCub in my Meamask wallet(Ideally, I wanted to use USDT). Again, I knew that I could buy them in Hive Market Leodex in their pegged version and withdraw them to my wallet. But the withdrawal fees were something I didn't want to rub elbows with.
I looked around a little online and this great post; How to Use Leo to Buy PolyCub by
@readthisplease was the savior. It taught me how to Buy Pleo(Polygon Leo) with Leo and Swap Pleo for Polycub. I ended up learning about Polygon Bridge for Leo and importing token contracts like a breeze. By this time, I was understanding the dynamics of Defi a great deal and it was genuinely very interesting and fun.
I loaded myself with gas fees by buying Swap.Matic and sending Matic to my Wallet.
On Sushiswap, I Imported the Pleo & Polycub Token Contract and swapped Pleo for Polycub. It took a few trials of Transactions, Cancelling some, Improving Gas fees, Panicking, but it worked all the same. I Finally Had Polycub in my Wallet.
The step on Swapping Half my Polycub for USDC and LPing them was way simpler to do, and the link from PolyCub website took me exactly to the PolyCub - USDC pool. In moments, I was verifying my stake amount in Polycub. And a while later, I could see the PolyCub I was Earning but there were still lots I needed to learn about because I didn't know what a lot of terms still meant
Day 2; Understanding PolyCub Protocol
This day cleared up the entire fogginess I had surrounding PolyCub and its Senior Defi Platform Cub Finance. On a quest to understand the platform where a chunk of my investment was sitting, I visited @leofinance acct on Leofinance. The first impression that dawned on me a little while later was that things were happening right at the moment, and I could not be losing any more time.
Apparently, there was an ongoing Airdrop of PolyCub being distributed amongst Cub token owners that would last for 60 Days, It was already 15 days in when I realized. Furthermore, PolyCub Tokens that are minted and shared in the rewards pool are decreasing blocks over the course of time (this is as easy as I can explain it). What does this mean?
It means that the PolyCub being distributed as rewards when users stake their tokens in Farms (like I did), Kingdoms, or XPolycub is being mined in every block transaction on Polygon. On March 5 when PolyCub launched, this value was at 5 PolyCub per Block, and every week it would reduce by 1. Then after 4 weeks, it would keep reducing by 50% monthly rather than weekly. So, As time goes on, folks get lesser rewards Or NOT?
Anyway, I wanna stop here (more on this later). Understanding the implications, I knew that I wanted to start receiving PolyCub Airdrops, that way I could essentially be earning from Cub Finance Rewards, and Staking the PolyCub I receive daily for the Next, about 44 Days.
Suddenly like out of nowhere, I saw about the best tutorial guide I've ever read on Hive - the more reason I consider it excellent is that it debunked a topic that was difficult for me and many crypto newcomers to understand. It did this so well, that I understood every aspect of Defi, Cub Finance, and PolyCub. That guide is; PolyCub Ultimate Guide by @mikedcrypto. A huge thank you for creating this, it was nothing short of superb, and would continue being helpful to many folks out there.
After digesting this Guide thoroughly, the next Few steps were fun, because I knew exactly where I wanted to put my funds, and what my strategy would be. It goes as follows;
I bought Cub tokens and staked them all in the Kingdoms with an APR of 67% (as of today, March 22)
Anticipating, this would give me daily PolyCub Tokens from the Airdrop
I would then stake them in xPolyCub knowing that I would receive more PolyCub later in the future
The Cub rewards I earn from Kingdoms would be re-staked in Kingdoms OR it would be LPed (Liquidity Pooling) with BUSD in the Cub - Busd Pool. This depends on the amount of Cub rewards I receive. if it is too small (by my evaluation), I would just stake it.
And the Cycle continues.
I also have the PolyCub- USDC pool running, so I can Harvest, claim and stake my PolyCub Rewards daily.
My Conclusions
How much can I make at the end of the Airdrop? Or How many PolyCub would I be able to Accumulate in total? - Honestly, I don't know. I wanna say that xPolyCub though, remains my focus because I would always end up with more Polycub than I put in. At the end of the day, it actually depends on the Price movement of Polycub in the Long run.
@mikedcrypto explains the maths behind the contracts and protocol of Polycub, so if you want more light shed on this, make sure to read his guide above.
This has been a very fun quest for me and I've come to learn these two things;
(1) Always trust your Gut & Intuition in Crypto
(2) Things are never as Hard as they seem In Practice.
Thanks for reading about my experience and see you next time,
Chel_ ❤