HBD - Hive-Backed Dollars - is the talk of the Hive blockchain right now. Everyone is discussing whether or not the witnesses should raise the APR for staking HBD on Hive to 20% APR.
Obviously, I'm a big supporter of this move. I was an early buyer of LUNA around $5 and I believe that Hive could jump on the bandwagon of promoting it's decentralized stablecoin as a prime cut of meat for the DeFi world.
I believe that HBD could cause HIVE to pull a Terra LUNA and head for $100, if it's promoted and deployed correctly.
To do our part as the LeoFinance community, I want us to solve the #1 issue facing HBD adoption: liquidity.
If you want to drop $100,000 USD into HBD and lock it up to earn 20% APR, you can't.
You literally cannot find the liquidity out there to buy $100k worth of HBD. That is a massive problem.
How do you solve it?
Get ready for something truly incredible. We've been building this for a few weeks now and it is going to radically change the Hive and LEO ecosystems forever.
pHBD is going to be deployed on PolyCUB.com as a vault. pHBD-USDC will be the vault pair and users will be able to stake it and earn high yield on their HBD.
A small fee will be taken along with the 12% APR on HBD staking on-chain. All of this will be deposited into PolyCUB's Protocol Owned Liquidity (PoL) where it will seed long-term yield optimization.
The pHBD-USDC staking rewards will outpace the rewards on Hive. Right now, that means offering an APY above 12% (likely in the 20-40% range).
If/Wen HBD's APR goes to 20%, we can always adjust the POLYCUB payouts to account for the increase and raise PolyCUB's APR to increase attractiveness. In fact, all APRs and the pendulum on PolyCUB will be governed by xPOLYCUB in the sooniverse.
We're getting ready to deploy xPOLYCUB governance which means that if anyone is a PolyCUB Kingdoms Whale, a LEO whale or (soon) an HBD Whale then you're going to want to be an xPOLYCUB whale too. xPOLYCUB voting will control where the APR gets deployed on the PolyCUB platform for vaults like pHBD-USDC.
This means that large stakeholders can direct more APR to yield vaults that they are a part of. We modeled this after seeing the current "Curve wars" situation that is playing out where whales are buying CVX left and right in order to control the governance on Curve.fi.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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