Greetings everyone
The month of April has been an exciting one for hive users after the witnesses reached a consensus which cause the increase in APR for HBD to move from 12% to 20%.
The community received this news with much excitement has this move signaled more interest in our stable coin by investors and mass adoption for the Hive Ecosystem.
While everyone was still relishing the increased APR, the team @leofinance came with a much better news with the launch of a pHBD-USDC pool
Polycub which is DeFi project created by leofinance intends to solve the liquidity problem faced by HBD and propel the Hive Ecosystem for mass adoption. It aim to play role of what Anchor is to UST
Laying hands on HBD in thousands and millions can be quite difficult. Exchanges like Bittrex and Binance where HBD is listed basically lacks liquidity. Here is where pHBD comes to the rescue.
What is pHBD
pHBD is a wrapped version of HBD on the polygon network. Following that launch, a liquidity pool of pHBD-USDC was created on the PolyCub DeFi to incentivize people to entering the pool.
Here is why you provide liquidity on pHBD-USDC
Currently the pHBD-USDC pays a whooping 56% APR or 77% compounded APY for staking which is the best you could around for a stable coin pair.
By providing liquidity, you make trading of HBD attractive and make it easier for huge transactions to take place.
Also you draw more DeFi whales to buy HBD which is good one for the future of Hive seeing what the impact of UST did for Luna. It we could great to get a fraction of that, it would be very beneficial for Hive.
How to wrap HBD to pHBD and provide liquidity
This post written by me clearly details the whole process. You should check it out Getting in on PolyCub and providing liquidity in the pHBD-USDC pool
Posted Using LeoFinance Beta