PHIVE IS ALIVE. How Can We Provide Liquidity to the PHIVE-POLYCUB LP? And My First Experiences on PHIVE-POLYCUB LP

The PolyCUB team launched pHIVE about 3 weeks after launching pHBD. Now HIVE is also available on the Polygon network and you can now trade HIVE on the Polygon network with any token. It's really great to see HIVE on the Polygon network after HBD, PolyCUB has made this possible with innovative steps. The LeoFinance team is building bridges for Hive and HBD to be available at other major chains. I think these developments will help the growth of the Hive ecosystem in the future. Now HBD and HIVE will be on the radar of DeFi whales.

pHIVE is 1:1 backed by HIVE and pHBD is 1:1 backed by HBD.

Also launched PHIVE-POLYCUB LP on PolyCUB. We have the opportunity to earn high rates by providing liquidity to the PHIVE-POLYCUB LP. Since it is still in the early stages, those who provide the first liquidity to the pool can make very good profits.

Let's do it step by step together how we can provide liquidity to the PHIVE-POLYCUB farm. In order to provide liquidity, we need to have pHIVE and PolyCUB in our wallet. For example, if we are going to add $10 worth of pHIVE to the pool, we need to have $10worth of PolyCUBs.

Trading Hive, HBD, PolyCUB on the Polygon network has become incredibly easy. We can buy or sell Hive, HBD, PolyCUB with all tokens in the Polygon network. In this post I will use my HBD, HIVE and PolyCUB assets to make the explanation simpler.

You also need to have some MATIC in your wallet for transaction fees. Transaction fees on the Polygon network are incredibly low, so even a small amount of MATIC will suffice. At the end of the post I will write the total cost I paid.

How to Wrap and Unwrap HIVE & pHIVE

To wrap:

1. https://wleo.io/hive/
2. Enter your receiving Polygon Network Address
3. Enter the Amount of HIVE to send
4. Hit transfer and confirm with Hivesigner or Hive Keychain

After a few seconds, pHIVE comes to your Metamask wallet.

To unwrap:

1. https://wleo.io/hive/
2. Click "Or transfer them back"
3. Enter your receiving Hive Username
4. Enter the Amount of pHIVE to send
5. Hit transfer and confirm with Metamask

After a few seconds, HIVE comes to your Hive wallet.

How to Wrap and Unwrap HBD & pHBD

To wrap:

1. https://wleo.io/hbd/
2. Enter your receiving Polygon Network Address
3. Enter the Amount of HBD to send
4. Hit transfer and confirm with Hivesigner or Hive Keychain

After a few seconds, pHBD comes to your Metamask wallet.

To unwrap:

1. https://wleo.io/hbd/
2. Click "Or transfer them back"
3. Enter your receiving Hive Username
4. Enter the Amount of pHBD to send
5. Hit transfer and confirm with Metamask

After a few seconds, HBD comes to your Hive wallet.

Trading with HBD and HIVE on the Polygon network has become quite easy. You can also trade PolyCUB with these assets. You can trade with them any tokens in the Polygon network if you wish.

If you have sent #HBD you have #pHBD, if you have sent #HIVE you have #pHIVE. These will appear in our Metamask wallet. To provide liquidity to the PHIVE-POLYCUB LP, we need to have the same values of PHIVE and #POLYCUB.

If you have sent HBD you have pHBD, if you have sent HIVE you have pHIVE. These will appear in our Metamask wallet. To provide liquidity to the PHIVE-POLYCUB LP, we need to have the same values of PHIVE and POLYCUB.

You can use https://app.sushi.com/swap or https://app.paraswap.io/#/?network=polygon platforms for swap.

Not :
I've seen some friends' questions about the price impact, and I wanted to give you some brief information about it.

When trading on sushi or paraswap, the price impact can be too high when swapping between those with very little liquidity. I suggest you be careful about this. Price impact seems quite high in pHBD and pHIVE swap. If you want to buy pHIVE with pHBD, the solution is if you buy polyCUB with pHBD and then buy pHIVE with PolyCUB, you will not face the price impact. I've seen this warning on other trades, and I've never done any trades when I saw this warning, so I don't know what the result will be after the trade. If anyone knows about this, they can inform us.

I transferred 200 HIVE from my HIVE wallet and got 199.25 pHIVE in my MetaMask wallet. I'm going to buy PolyCUB with half the pHIVE I have now. I have PolyCUB on PolyCUB that I haven't harvested but I don't want to touch them, after harvesting I will send them to xpolycub.

If you are going to do #pHIVE trades in paraswap or sushi for the first time, you must first unlock pHIVE. So the platform needs your permission.

Description on the platform
Our smart contract needs your permission in order to move 100 pHIVE on your behalf.

I bought 298 PolyCUB with 95 pHIVE. I now have pHIVE and PolyCUB in my wallet. Time to go to https://polycub.com/farms.

First, connect to PolyCUB with your wallet. And click Enable. And confirm with your Metamask wallet.

After enabling it.

Then click on Get PHIVE-POLYCUB LP on the left and it will direct you to the sushi platform to add liquidity.

I entered the PolyCUB amount to add liquidity and the pHIVE amount with the same value appeared automatically. Then I clicked Add Liquidity.

Then I clicked on Confirm Supply.

I confirmed the transaction with my Metamask wallet.

Now I have the PHIVE-POLYCUB LP.

Let's go to https://polycub.com/farms and click the Stake LP button.

To select all the LP in my wallet, I first clicked on max, then clicked Confirm and confirmed the transaction with my Metamask wallet. I have completed providing liquidity to the PHIVE-POLYCUB LP on PolyCUB.

I provided about $150 liquidity in this post. And my goal is to increase the liquidity I provide to this pool to at least $1000 as soon as possible. The APR is now over 124%. That's a really great rate. Now is the time to enjoy this income.

The total transaction fee I paid in the Polygon network for the transactions I described in this post is 0.0205 MATIC (approx. $0.02). Indeed, transaction fees on the Polygon network are incredibly low.

For more information, check the Hive account@leofinance blog. And if there is anything you want to ask, please feel free to ask me. Also, never hesitate to ask questions on Leofinance.io, many people will be happy to assist you.

PolyCUB has made rapid progress in a short time and I am really following the developments with excitement. PolyCUB is still in its early stages and more features will come in the future. I suggest you to follow Hive account@leofinance and khaleelkazi blog to follow the developments closely. I also recommend watching the AMAs, so you can have more information.

Detailed information about pHIVE: https://docs.polycub.com/multi-token-bridge/phive
Detailed information about pHBD : https://docs.polycub.com/multi-token-bridge/phbd
LeoFinance Twitter : https://twitter.com/FinanceLeo
LeoFinance Discord : https://discord.gg/E4jePHe
pHIVE Token : 0x456320e9b87a7c84a53b8ab300067f3a29aab301
pHIVE-POLYCUB Sushiswap LP Token : 0x29f13baded9ade12acc4069a8ffeef95146b8bc9
pHIVE-POLYCUB Vault : 0x29f13baded9ade12acc4069a8ffeef95146b8bc9
pHIVE Wrapping UI: https://wleo.io/hbd/
Add Liquidity : https://app.sushi.com
Pool LP Tokens : https://polycub.com/farms
Trade pHBD & pHIVE : https://app.paraswap.io/#/?network=polygon
Questions? https://discord.gg/E4jePHe