xPOLYCUB staking is a complex feature that is at the core of sustainability and growth for the PolyCUB platform.
It is a mechanism built for true ððū
$1M in TVL on xPOLYCUB Staking!
Today marked the first time - less than 24 hours after https://polycub.com went live - that we saw xPOLYCUB staked cross $1M USD.
It's pretty insane to watch the growth of PolyCUB in just the last 24 hours. Our round of PRs with Cointelegraph and Coindesk are set to release at the start of this coming week (in the next 2 days).
This, coupled with multiple podcast appearances on a few crypto influencer podcasts + some traditional marketing means that PolyCUB is going to be the most advertised launch in LeoFinance history.
The team is really excited with how the launch went. Launches are never 100% smooth but our team rallied together to fix things as quickly as possible and make progress on a multitude of goals and issues as they arose.
After much lack of sleep, hydration and food, we've brought PolyCUB to market and this is really just the first inning.
PolyCUB has just begun and the community obviously has first grabs at it. Some have pointed out in Discord already that the TVL on CUB has remained super steady while the TVL on PolyCUB has risen to extreme highs. It's evident that we are pulling in outside capital.
All of this on a weekend launch! It's only been 1 day since the launch of PolyCUB and that day was a Sunday for most of the world.
It's going to be amazing to see what happens tomorrow (Monday) as people wake up, get back to their daily routines and see PolyCUB.com for the first time.
Marketing, PRs and Partnerships
We - LeoTeam - have never done much in the form of traditional marketing. We've hired influencers in the past and have made appearances on AMAs and in various groups like that.
Never before have we spent the resources to get published in places like Cointelegraph, Coindesk and Decrypt.
We believe this is going to be a game changer for our community. We're a tight-knit family of lions and the success of PolyCUB in just day 1 is a testament to that.
New xPOLYCUB Staking Page
As you can see in the featured image of this post, we built a whole new xPOLYCUB Staking UI.
Most people have been confused by xPOLYCUB. It is a complex mechanism but the driving goal is this:
- Reward ððūs who stake POLYCUB into xPOLYCUB and hodl
The platform has early harvesting penalties on all external TVL. These harvesting penalties are paid entirely to xPOLYCUB hodlers which effectively means that short-term yield farmers are paying it forward to xPOLYCUB holders - LeoFinance Diamond Paws - who are lying in wait on the PolyCUB Kingdom. Much like a Lion on the prowl.
Everyone wins in this scenario. Early yield farmers still earn ridiculous APYs but if they want their earnings in the short-term - and most will go to sell those earnings - they are hit with a 50% tax that redistributes POLYCUB to the people that will hodl it.
It's a truly interesting mechanism and we've already seen it play out with extremely positive results. xPOLYCUB is now worth 3 POLYCUB as of this post being released... amazing!
How xPOLYCUB Works:
Users can stake POLYCUB into xPOLYCUB. xPOLYCUB staking is effectively the same thing as the CUB Kingdom on CubFinance (BSC) but with a few key differences:
- When a user stakes POLYCUB into xPOLYCUB, they are "trading" in their POLYCUB for xPOLYCUB tokens
- xPOLYCUB tokens are a claim on a % of the POLYCUB held in the xPOLYCUB smart contract
- xPOLYCUB tokens earn yield in two ways: firstly through normal yield like any other farm / kingdom on the platform. Secondly through the early harvesting penalties that are collected by short-term yield farmers
- #3 means that xPOLYCUB is a forever number go up token: the ratio of POLYCUB per xPOLYCUB will rise in perpetuity. One day, 1 xPOLYCUB will likely be worth thousands of POLYCUB tokens
xPOLYCUB is designed to be the ultimate vault for the set it and forget it hodlers. There are no penalties and no fees for buying POLYCUB and staking it in the xPOLYCUB vault. You essentially just get rewarded for hodling POLYCUB as xPOLYCUB through the two above mentioned yield methods.
PolyCUB is designed to be deflationary over time. The token inflation is high right now and will drop every single week. Eventually, it will flip deflationary through BTC-like halvenings on the yield every single month.
Once POLYCUB inflation is over, all yield will be derived from Protocol Owned Liquidity. This PoL will buy POLYCUB on the open market and then distribute it as yield to all of the Kingdoms and Farms on the platform.
POLYCUB is designed to go up in value with time. Much like BTC, thanks to all of these various mechanics we've built into the platform.
Reflecting on the first 24 hours of this launch, the team is tracking the metrics and mechanics of POLYCUB. We are extremely excited to see if our model for the first real sustainable DeFi 2.0 yield optimizer plays out... If it does, then all CUB hodlers are in for a massive surprise 60 days from now.
What is that surprise? I guess you'll have to wait and find out. For now, stack that CUB and xPOLYCUB and we'll see you in sustainable DeFi land!
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LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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