You must have been hearing about DeFi(Decentralized Finance) and doing your research but still confused on which defi to use. There are varieties of DeFi platforms out there, most of them have a liquidity provider protocol where you provide liquidity and earn rewards in their native tokens. But most of them are stuck in the DeFi 1.0 Realm. I called them typical Defi, or rather basic defi, but polycub is different. Some of them only have two features which are farm and pool features.
The pool feature is a liquidity pool where you provide liquidity in a liquidity pair of your choice and earn a unique APR on that liquidity pool pair. Liquidity providing rewards will be paid in the native token of the DeFi platform.
Impermanent Loss is a risk in this filed.
While the farming feature is the less risky part because of no impermanent loss, but it’s boring now. Polycub has taken it up a notch with its DeFi 2.0 feature. You don’t only get the farming and pooling feature you get a special feature called the XPolyCub. This is a number always going up feature. It’s different from polycub, because it’s a locked polycub that increases over time. It works this way, the more you buy it, the more the increase in your value of XPolycub compared to polycub.
At the early days of polycub, or rather the first day of polycub after its launch, the ration between Xpolycub and Polycub was 1:1.
This means that if you had staked 1 Polycub on XPolycub you would have 1 XPolycub. But as more people stake, the ration increases because polycub was created to be extremely scarce. There is a 50% penalty fee from people who decide to unstake their XPolycub before the block locking period and that’s about 90 days.
Today the ratio is 20.03 polycub for 1 XPolycub. The value of one polycub on the day of launch was $1, if you had bought $100 worth of polycub and staked in XPolycub on that day, you would have 100XPolycub today. Which is currently worth 20.03 polycub today. The value of polycub has dropped but the value of your XPolycub is still up giving $639.2 asset worth. So the more the value of polycub the more the value of your XPolycub. Isn’t that different from the regular Defi you know?
It just doesn’t stop here, there are upcoming features that will make polycub greater and better with its DeFi 2.0 nature.
We have the:
Collateralized Lending
Bonding and Protocol Owned Liquidity
The Collateralized lending protocol is a game changer that supposed to give everyone reasons to jump into the polygon train. This is because, if you are trying to build wealth, preserve wealth or sustain it, then this should be your go to. The Collateralized lending is a self repaying loan. You take a loan, stake your XPolycub, and your yields generated on your XPolycub pays the loan for you. You need money urgently, instead of installing your XPolycub, sell it and get penalized with the 50% penalty fee for unstaking before the block lock time period, you can easily just stake it in the Collateralized lending protocol and collect a loan in USDC. This loan will be paid back from your yields generated from your locked XPolycub.
While exploring and earning from polycub you won’t find a reason to go else where. This is why I call it the one stop polygon DeFi store. It gives you all the qualities and perks of a DeFi. It’s on the polygon blockchain so you are going to need polygon for gas fees and you will need to use sushi swap to get some polycub with polygon.
PolyCub Smart Contract:
0x7cc15fef543f205bf21018f038f591c6bada941c