HBD Interest at 20% - xPOLYCUB Over 20 pCUB

over 2 years ago

The past few days have been a blast with family. I officiated my brother's wedding and got to spend a lot of time with my parents before they travelled back home. Then I come back to Hive to see the number 20 everywhere.

Number Go Up

Taking a breather from crypto and shit for a couple days was really nice. It can be very consuming when you write about mostly that kind of thing. There's so much noise in the space that sometimes it's hard to even think about what to write. When I logged into LeoFinance this morning, I kept seeing everyone talking about the HBD savings APR increasing to 20%. Then I hopped into Polycub and found out that the POLYCUB to xPOLYCUB ratio is over 20!

These are both incredible things to happen nearly at the same time. I know it's a few days in between, it's just crazy how it almost synced up. First off - let's talk about the HBD interest rate.

A couple days ago, I wrote a post about how to supercharge your savings account with PolyCUB by throwing funds into the stablecoin Kingdom. This allows you to pool 3 stablecoins - DAI, USDT, and USDC into a farm that pays out a little over 16% APY at the moment. Obviously this is going to fluctuate with the amount of funds in the pool and such.

Now it just got even easier to supercharge your savings account! With the Hive Savings vault paying out 20% APR on Hive Backed Dollars, it's a no brainer. No trouble of having to leave to a different platform or complete a bunch of transactions in MetaMask. This is straight on Hive, built in and easy to use. Hive is becoming more and more a social DeFi platform every day.

All you need is some HBD, which most of us are earning on a daily basis, and a couple clicks. If you wanna convert some capital over to HBD from other sources, there's a few ways to get it. It will only get easier when there's more of it out there and it starts being recognized as a stablecoin.

The other major milestone I wanted to highlight is xPOLYCUB. If you're not familiar with PolyCUB, I highly recommend checking out the documentation to learn more. It's a DeFi 2.0 yield optimizer that's going to be adding a ton of utility for HBD in the near future. The xPOLYCUB mechanic is a very interesting one because the ratio of xPOLYCUB to POLYCUB only goes up.

For every xPOLYCUB you stake, you can redeem it for X amount of POLYCUB at any point in time. That amount increases based on people claiming their locked POLYCUB from farms or kingdoms. When someone harvests and then claims, they take a 50% penalty which is paid into the xPOLYCUB vault. This increases the ratio. xPOLYCUB is incredibly scarce and it's getting harder and harder to get your hands on because you need over 20 POLYCUB to even get 1.

In terms of US Dollars, the value of POLYCUB has continued downward as people have taken profits. The inflation rate has been slashed down to 1 POLYCUB per block and will only continue going down. Anyone participating now is in on the ground floor.

With all this happening and the amazing things being built around here, Hive is definitely evolving into something much more than just a blogging blockchain. It's a DeFi hub at this point and this is just the beginning. Get ready for a wild ride over the next 5 years.

Thanks for reading! Much love.

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