After 2 and a half days since the launch of PolyCub, I consider it a major success for those who got involved already. And, as far as I know, the major marketing deals Khal has with big names in the industry hasn't kicked off yet. I might be wrong on that, I haven't had time to listen to his special AMA from yesterday yet.
But this is not a post where I want to share my excitement.
I do have two helpful tips, hopefully, one for someone who didn't use Polygon at all before, and another for people who are already on PolyCub.
My first tip is for people who are on the sidelines, either with holdings on CubFinance - most likely benefitting of a PolyCub airdrop too - or with liquid LEO on Hive-Engine or bLEO on BSC.
I have seen enough people remembering to add Polygon to Metamask, but forgetting or not knowing how to get their hands on some MATIC for transaction fees on the Polygon blockchain.
Asking for some MATIC for initial transactions in discord works, but the easiest way to do it, in my opinion, is to use this faucet.
If nothing changed since I used it many months ago, it can only be used once per Polygon wallet and only if you never had any MATIC in your wallet before. It will only give you a fraction of a MATIC, but enough to get you started.
EDIT: After tried the faucet, it appears it doesn't give enough MATIC these days not even for a single transaction, after gas fees went up. Which makes buying SWAP.MATIC on Hive-Engine and withdrawing it to Polygon the most convenient option for people on Hive.
I hope this removes a complication you might run into when you first want to use Polygon. If you benefit of the POLYCUB claim drop, you can only claim it from Polygon! If you have liquid LEO or even if you wrapped it as pLEO, you need MATIC to pay fees on Polygon.
The second tip I want to share today is for people who already use PolyCub, and which I have just used it myself.
Both on CubFinance and on PolyCub the UI is explicit regarding the dollar value of the LP positions one has in kingdoms, which is great.
What neither of the two interfaces show is the dollar value of the LPs in farms.
There are certain tools like Zapper.fi which give such information about your LP positions, both on BSC and on Polygon (and a few other blockchains), and even what you have liquid in Metamask. But it only recognizes LPs from a few select platforms.
On BSC, we have a tool to check the USD value of the LPs we have in CubFinance farms. It's a simple tool adapted by from Hive from another open-source one. All you have to do is run it and connect to your BSC wallet. It does the rest.
On PolyCub however, I don't know if such a tool exists, although I assume it would be easy to adapt it.
So, for now, one has to know how to calculate the USD value of their LP positions in the farms manually, while an easier way doesn't exist yet.
Here's how to do it. Pay attention, it involves a bit of detective work on Polyscan.
What do we need?
We need
- your staked LP position
- the total USD value of the liquidity in the pool
- the total supply of LP tokens
How to obtain each of them?
The first two can actually be obtained from the PolyCub interface
Here's an example:
For the total supply, we need a little more steps.
- Go to the farm contract on Polyscan.
- Go to the LP token contract like in the screenshot below.
- Get the total supply amount
Now you have all the required elements.
The formula to calculate the USD value of your LP position is the following:
your_lp_usd = (liquidity_usd_value / total_supply) * your_staked_lp
I know, it's more work than many are willing to put in to find out the USD value of an LP position, so hopefully a little tool will be available soon for that purpose, if the information won't be displayed on the PolyCub interface directly.