Polycub Update: 30 Days Lock Window & 49% APR For pHBD-USDC Pool
Hey guys, it’s been a cool week for us, unfortunately the market is on a down trend currently but what can we do? This is the reason we need to invest in StableCoins as much as we are investing on other coins. With the rate at which StableCoins are having high yields, it will be easier to set profits aside to buy StableCoins when we make gains from our volatile coins. This way you can buy the dip during the bear seasons.
That aside let’s go back to POLYCUB, so the polycub price has stablized it self to be on $0.22, all the way from $1 which was its initial price. Buying right now should be considered a great opportunity, but then I prefer the pHBD-USDC pool because of Impermanent loss.
According to the Leofinance Twitter account, who explained why an increase in the pHBD-USDC APR pool occurred. From the statistics from coingecko, the total amount of pHBD traded within 24 hours was $20,000 and this yielded some swap fees which is distributed as an extra 7% APR to all pHBD-USDC stake holders. This has therefore increased the APR to be 50%. Does that mean that the APR of the pHBD-USDC farm will keep increasing if people keep swapping pHBD and paying swap fees? Well, I hope I get a reply from someone that understands.
The beauty of staking in pHBD-USDC is that, you earn over 40% APR in polycub, stake those earned polycub in the XPolycub and earn extra over 30% APR, and remember, a governance vote was casted few days ago and the lock up window has been changed from 90 days to 30 days. This means that when you stake your polycub in XPolycub, you can only unstake after 30 days to reap your rewards. This is quite short compared to the previous 90 days, because in the crypto world 90 days is a lot of time. That’s quarter of the year and a lot can happen within that period, so yeah, I believe 30 days is okay and I also voted 30 days. This is the same time it takes to claim HBD interest in HBD savings, so it’s no biggy, we can go with that.
Hive being a decentralized platform means that it gives everyone the opportunity to build on the blockchain without seeking permission form a central authority. This is why everyone is trying in their best way to promote Hive and make it the best social media blockchain platform. You can see from the work the Leofinance team has been doing, making pHBD(HBD on the polygon blockchain) and listing it on Coingecko.