How to Bridge and Farm pHBD-USDC at 77% APY on PolyCUB

over 2 years ago (Edited)

frens, pHBD has been born! It's time to create an insane liquidity pool! Here's how to do it.

It's time to pump $5m into pHBD-USDC!

Not too long ago (like within the past 30 minutes), the LeoFinance Discord started popping off. It was silent, but we all knew what was going on. Then someone dropped a link into the server for the HBD Bridge. Naturally, I immediately opened it and tested it with 1 HBD.

This bridge allows users to send HBD from the Hive blockchain to the Polygon blockchain instantly and vice versa. Pretty powerful shit right here. When you bridge your HBD to Polygon, you will received wrapped HBD as pHBD which can be unwrapped back onto Hive at any point. Let's check it out!

Note: if you've never used Polygon before, you will need some MATIC in your wallet for gas fees (they're tiny). Check this guide for easy ways to get MATIC using Hive Engine.

The UI is literally as simple as it gets. When you're bridging HBD to Polygon, you'll enter your Polygon address and the amount to bridge then confirm the transaction in Hive Keychain.

When you're briding pHBD from Polygon back to Hive, you enter your Hive username and the amount. Then confirm in MetaMask or whatever wallet extension you use. This can be done on mobile as well via the MetaMask app or even TrustWallet. Hell, even Coinbase Wallet supports Polygon.

After a couple seconds, the pHBD will arrive in your wallet, which can be seen at PolygonScan by entering your wallet address. You can also add pHBD to your MetaMask wallet now by clicking Add Token at the bottom of your assets view.

Once you click Add Token, enter the pHBD Contract Address: 0x6d969cea201e427d2875724fd4e8044833fbc7f4

Everything else will populate automatically and all you have do do is click Add Custom Token. Now you will be able to see your pHBD in MetaMask.

Congrats! Now you have pHBD and you're ready to get to farming.

In order to add liquidity to the pHBD-USDC pool, visit the Farms page on PolyCUB. Right away you'll see the new pool is live and getting massive amounts of liquidity pumped in as the news spreads. (It's at $182,000 now).

Next, you're going to need to get an equivalent amount of pHBD and USDC. Don't worry, it's actually really easy. Suppose you sent 100 HBD over to Polygon. All you have to do is swap 50 to USDC and you're ready to go. Here's how:

First - visit SushiSwap and import the pHBD token by pasting the contract in the swap page.

To do this, click the drop down one either one of the 2 default assets, and past the contract address from above.

Click Import, and now switch the 2nd asset to USDC. You'll have to click Enable and confirm the transaction in MetaMask before you're able to Swap. Once enabled, swap half of you pHBD to USDC and you should have an equivalent amount of each (roughly).

Now, back on the PolyCUB Farms page, click Get pHBD-USDC LP. You'll be taken to the Liquidity page where you enter the amount. In the case of example, enter 50 and it will calculate the equivalent in pHBD.

Now all there's left to do is click Approve pHBD and confirm in MetaMask. Once that transaction confirms, click Add Liquidity.

Then Confirm Supply and confirm transaction in MetaMask.

Once that transaction confirms, you'll receive whatever amount of LP tokens for that pool and you're ready to throw them into PolyCUB.

Head back to the Farms page on PolyCUB, and click Details on the pHBD-USDC pool.

Click Enable, and confirm in MetaMask. NOTE: All of this confirming and approving of tokens is a one time thing. After this, you'll be able to swap and whatnot without 2 transactions.

Next, click Stake LP and then clik Max. Then confirm in MetaMask.

Bam! Now you're farming stable coins at 77% APY!

You're also providing liquidity for users to arbitrage trade and potentially help stabilize the price of HBD. This is going to go nuts once people realize how massive that APY is on stable coins! Let's make this bad boi DEEP! Onward and upward frens, number go up only!

Check out the official @leofinance announcement post for all the details.

Thanks for reading! Much love.

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