The PolyCub price trajectory is looking pretty bad
So should we be worried? Maybe. Maybe not. It depends.
I'm no charting expert. But anyone with any knowledge of charts would know that this chart is pretty ugly.
Since the launch of PolyCub we've seen a pretty steady decline in the price per token. This isn't entirely unexpected as those receiving the airdrop may be prone to selling off along with anyone farming large volumes of tokens selling off their holdings quickly rather than waiting out the holding period.
So this raises the question, is it worth participating in the platform if the price per token is consistently declining?
I suppose this depends on what is planned for the platform's future and what opportunities this may bring.
A quick scan over the @Leofinance blog gives a pretty good idea of how hard the team are working on developing the PolyCub platform:
Collateralised Lending on xPOLYCUB Tokens
This post goes into detail about what this is however in brief, we will be able to take out loans against our xPolyCub tokens, with the yield earned from our tokens used to pay our loan interest.
I find this particularly interesting as, in essence, I can take out a loan of USDC, have my xPolyCub yield take care of the interest, stake my USDC in a USDC-PolyCub farm and use the yield from this to pay off my loan. This is exciting stuff. If my understanding of how this works is correct, it's more or less free money.
PolyCub Bonding Protocol
This is something that I don't feel like I fully grasp being the novice that I am. And is much better explained by the @LeoFinance team. My noobish understanding is that, once PolyCub emissions are virtually zero, those staking in farms and via the various bonding options will earn PolyCub that has been bought back by LeoFinance (or as described by LeoFinance: Liquidity providers will earn PolyCub via "Protocol Liquidity-driven buybacks").
It's through this continual buy back and re-distribution of tokens that gives me hope that we'll see an increase in value per token over time. And through the re-distribution following buy backs, we should see the LeoFinance team able to maintain a decent yield in the farms.
An ever expanding team and growing exposure
It's pretty evident that the @LeoFinance team is growing and developing along with the PolyCub platform.
In the most recent post on the LeoFinance blog (at the time of writing), the team discuss the fact that they have been growing their team over the past 18 months
This has grown to include a wide range of new talent both in terms of developers and specialists (Growth, Marketing, etc.)
And with the ever expanding pool of talent the marketing efforts by the team have also grown dramatically. Even to the point of running campaigns at Bitcoin 2022.
Please tell me the future is bright
With a growing pool of talent within the LeoFinance team to utilise to further develop the PolyCub and increase the platform's exposure, ideally we'll see an increase in users of the various LeoFinance applications/platforms.
Add to this the further developments of the platform, which very excitingly include collateralised lending, we're seeing real utility for the platform rather than just something people use to chase a quick and easy dollar.
So, while the price of PolyCub has tanked since launch, I still think there is real potential here, and I plan to stick with PolyCub to see these developments play out.
Will the price get back about $1? Who knows. I bloody well hope it does, but any predictions are nothing more than empty speculation at this stage.
Regardless, I've thoroughly enjoyed my involvement in the platform to date and am very excited about the future.
Happy farming!
