The whole Splinterverse is excited about SPS Validator nodes & license presale and gearing up towards it. Right now the validator software is going through an internet testing phase. Will be open for public testing within the next few months, with the "mainnet" planned to launch in Q4 of 2022. I am sure many of you are planning to buy them and earn more SPS on autopilot for running those nodes. Are you ready for some more good news?
After the successful launch of pHBD, the Leo Finance team is gearing up for the new vaults on PolyCUB. For those who don't know, it is a new DeFi Yield Optimizer platform on Polygon. Most of you are aware of the DEC-BUSD farm and SPS-BNB kingdom on Cub Finance powered by Binance Smart Chain. Now it's time to get some exposure on Polygon as well via pSPS - the wrapped version of SPS. Khal (@khaleelkazi) confirmed this on the first PolyCUB Governance vote update after which the claim window is moving from 90 days to 30 days. 🚀
Multichain SPS
SPS is the governance token of Splinterlands. You can stake within the game to earn a handsome 24.67% APY right now. The percentage keeps on reducing as more people join in, buying SPS and staking in it. It's great to have the token's representation on other chains to have more options to earn yields on the token. SPS-BNB Kingdom on CUB Finance doesn't give great yields and there is a chance of impermanent loss too. On PolyCUB, we might be able to see better returns when the vault launches. Also, @aggroed & @yabapmatt can buy PolyCUB, put it in xPolyCUB vault, and upvote the SPS farm up the ranks to ensure the highest number of APY as compared to other farms and kingdoms. 😂 PolyCUB governance is so powerful and you can actually decide what happens on the platform.
Having SPS on different chains is a great thing for the liquidity of the token. Hive-Engine doesn't have liquidity issues but new players & investors always find different ways to acquire the token. With the launch of pSPS and it's vaults, users have an entry point from different platforms & networks. Don't forget about the arbitrage opportunities. BSC & Polygon are two of the most used chains for DeFi, so it makes sense to have SPS sitting on them. There are a lot of good games built on Polygon Network, we can now expose the players of those games to Splinterlands via pSPS.
Value Accrual Mechanism of V2 Vaults
Let me tell you why you need to get excited for the 2nd generation of PolyCUB vaults. They will majorly focus on bridged assets such as Hive, SPS & other Hive-Engine Tokens. There are five different value accrual mechanisms for PolyCUB PoL as compared to V1 vaults. PoL is protocol-owned liquidity which is a DeFi 2.0 concept that helps the DeFi protocol acquire its own liquidity and become self-sustainable over a long time. If you want to know more about how it works, please this video by @khaleelkazi. For now, let's look at these 5 value accrual mechanisms:
- Hive assets like pHive & pSPS held as 1:1 collateral for the wrapped equivalent - staked on native platforms (i.e. HIVE POWER or SPS staking on splinterlands.com)
- 0.25% wrapping and unwrapping fee
- Cross-chain arbitrage
- Utility for people to buy POLYCUB to LP against their insert_hive_asset = value accrual for PolyCUB's PoL
- pSPS-POLYCUB holders need to buy more POLYCUB to stake as xPOLYCUB to control governance and drive the vault yield higher
Not just 1 but 5 ways to acquire value. A multi-chain bridge is already there and more Hive-based assets will be added in the future, each increasing the PoL and overall worth of PolyCUB. As an SPS & PolyCUB holder, I am pretty excited about this development and looking forward to it.
What do you guys think? Comment below!
