The other day we announced that Leomarkettalk liquidity pooljoined the pHBD-USDC. One of the keys is for Leomarkettalk to be a full time liquidity provider. Since this is account is one for the Leofinance community, supporting the efforts with HBD is worthwhile.
Here is what we wrote at the time:
The main idea is for
@leomarkettalk to be a permanent provider to the pHBD liquidity pool. What goes in does not come out. It is liquidity that will keep growing as payouts come.
Ultimately, we are doing our part to get the amount in the liquidity pool up. This is a slow process but knowing that each HBD in there helps is important. After the events of the past week with UST, it is vital that Hive do what is necessary to build a strong stablecoin using solid techniques.
Leomarkettalk feels that the liquidity pool on Polygon is an important step. We also look forward to the opening up of the one on BSC which will create even more arbitrage opportunities.
Here is what we are looking at right now with the pool according to a Tweet put out by the Leofinance account.
According to the Sushiswap contract, there is $440K in liquidity.
To start, the power down that was started a few weeks ago paid out twice. The HIVE was swapped on the Internal Exchange for HBD. Here is the transaction.
As we can see, 136 HIVE from the power down was converted to HBD, 65 of them.
This was added to the HBD in the account and swapped for pHBD.
Before we added to the pool, this is what it looked like:
Here is what it looks like after the transaction was completed.
As noted, the plan is to leave this in the liquidity pool forever. It goes in and does not come out. This is supporting the HBD project and we are doing what we can by providing liquidity.
Since we had staked some in the liquidity pool earlier, there were some POLYCUB earned. This was harvested but not claims. We are going to incur any penalties. Instead, we will just wait the 30 days and take our payout.
Here is what we earned so far.
Once we can claim the POLYCUB, that will be swapped equally for pHBD and USDC. Both will be added to the liquidity pool.
Hopefully the price of POLYCUB appreciates over the next month, in USD terms, so that we can get more for the 98 POLYCUB.
All of the HBD and HP rewards from Leomarkettalk posts are all being fed into the liquidity pool. Therefore, the community can help by supporting this account.
To start, drop by the post each day and engage. This is a great way to get to know some of the other Lions.
At the same time, give each post an upvote. As stated, this is going into the liquidity pool, a move that can only help Hive in general.
Leofinance is intent on helping to move Hive forward. This is something that
Together we can help this along.
If you found this article informative, please give an upvote and rehive.
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