So, it finally happened! We didn't have to wait too long to see HBD on the Polygon network! Thanks to the LEOFinance team, HBD is alive on another network too and it can be exchanged for other assets on the Polygon network... All this is possible thanks to the Polycub platform!
The next important step is to create decent liquidity there and to do that, everyone can contribute... In this short tutorial, I will show you how you can do it easily...
Let's do step by step the whole procedure of adding liquidity to the newly created PHBD-USDC farm!
1.- First thing that we have to do is to convert our NATIVE HBD (not SWAP.HBD from the Hive-Engine, but your HBD from HIVE wallet directly) to pHBD which is the "wrapped" HBD on the Polygon network...
Go to: https://wleo.io/hbd/
In the first field, enter your Polygon address, and in the second one amount that you want to transfer and click TRANSFER.
The Hive Keychain PopUp should appear to confirm your transaction... Click on CONFIRM... Wait for a couple of minutes and check your Metamask if pHBD has arrived...
IMPORTANT! If you have more HIVE account in your Keychain, maybe the wrong account will appear on the top... Use the drop menu to pick the right one!
1a.- As you will need the same dollar amount of USDC to provide the liquidity, and you don't have it, you can exchange half of your HBD to USDC... You should proceed to the SWAP menu on https://app.sushi.com/swap... Click on the FROM token field and enter the pHBD address 0x6d969cea201e427d2875724fd4e8044833fbc7f4 , in the TO field, you should pick USDC... Convert the half of pHBD to USDC and proceed to the next step...
2.- Go to https://polycub.com/farms and Enable LP. Click on the ENABLE button and confirm with your Metamask wallet. Wait for the transaction to be confirmed.
3.- Click to Get the PHBD-USDC LP link on the left. The Sushi website should appear...
Click on the Approve pHBD and wait for the confirmation... After that button should disappear and you should see something like this
Click to Add Liquidity, confirm with Metamask, and wait for confirmation...
4.- Deposit LP Tokens on Polycub.com
Go back to https://polycub.com/farms... Click on the Stake LP button...
You should see a Popup window like this...
Click on Max, then Confirm, and confirm with your Metamask wallet...
You are done! You have successfully added pHBD-USDC LP to the Polycub pool... You can relax and enjoy your Easter vacation! :)
You can check out the official launch post about the pHBD-USDC pool here
pHBD contract address: 0x6d969cea201e427d2875724fd4e8044833fbc7f4
(use this address to add pHBD token to your Metamask wallet > Import Token)
Thank you for your valuable time,
~ph~
If you want to support my witness, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses, or just scan the QR code down below...
Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!
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Posted Using LeoFinance Beta
Thanks for the guide. Now we just need to know how to get it out again afterwards! 😅
Posted Using LeoFinance Beta
That's the easier part, just start from the end of the tutorial and instead of adding, follow the "remove" path... :) :)
!LUV
Posted Using LeoFinance Beta
Thanks, I thought it would be simple 👍
@ph1102(4/4) gave you LUV.
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Solid guide! Now off to arbitrage trade...
Posted Using LeoFinance Beta
Hehehe... I'm off to relax a bit... Good luck with arbitrage!
!PIZZA
Posted Using LeoFinance Beta
Same here 🤗
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Posted Using LeoFinance Beta
My HBD are still transacting to go out of my savings :') I hope the rewards won't be too low before I can join the LP !! !PIZZA
Posted Using LeoFinance Beta
I think that Khal said that they are aiming for 40% APR... As there is not too much liquid HBD atm, I suppose that you will not be too late... ;)
Posted Using LeoFinance Beta
Awesome! Now anyone can add liquidity in pHBD-USDC on Polycub. Things are happening pretty fast. If it continues like this, after 3 or 5 years, we will be at a different level, maybe we cannot think about it now. :)
Posted Using LeoFinance Beta
To be honest, I didn't expect that we will see pHBD this fast on Polygon, but it was a nice surprise! Now we have to build up liquidity and I have no doubts that people will come to stake their HBD... 20% on the blockchain is an awesome APR!
!WINE
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I think the only thing missing is a way for the user to swap pHBD into USDC. Other than that, I think it has everyone would need.
Posted Using LeoFinance Beta
You are right about that! I had some, so I didn't need to exchange... I will edit the post and add a short explanation... Thanks for pointing out that!
Posted Using LeoFinance Beta
Read how this all have started with Toruk
Posted Using LeoFinance Beta
Thanks for the support and upvotes! More LEO for the LP! :)
Posted Using LeoFinance Beta
That's great and easy, but where should I get the polygon address??? I have issues with claim polycub ...
If you have a BSC address, your polygon address is the same... You have to enter details for the Polygon network in your Metamask and change it when you want to claim your Polycub... I had some post about setting up Polygon, but I'm not at my computer atm... search it up...
!PIZZA
Thanx for info.
Best regards. :)
!PIZZA
You are welcome! Thanks for checking out my post!
Have an awesome weekend!
!PIZZA
Posted Using LeoFinance Beta
I asked in another post that I should be tagged to a post where this is explained. I'm glad thar stumbled upon it myself.
You've done a great job with this.
Posted Using LeoFinance Beta
Thank you! I'm happy that the post helped you!
!PIZZA
Posted Using LeoFinance Beta
I get that. The next question is how to migrate SWAP.HBD to be able to wrap to pHBD?
Posted Using LeoFinance Beta
If you have SWAP.HBD on the Hive-Engine, you have to withdraw it (like any other crypto from the exchange...) first to your HIVE (native), and then follow the steps from the post...
!LUV
I figured that was the journey - just not found how to do that just yet. At least now I know what question to ask in search.
@ph1102(1/4) gave you LUV.
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!LUV
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Thanks for the tokens!
!BEER
Posted Using LeoFinance Beta
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