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Polygon is a sidechain scaling solution that operates alongside the Ethereum network. It is well-known for its incredibly rapid transaction speed and extremely inexpensive gas fees. MATIC is the network’s native coin, and it is used to conduct operations such as staking, transaction fees costs, and more.
Polygon, which is primarily an Ethereum second layer blockchain network, is home to several decentralized applications where users may participate in the ever-expanding virtual world including DeFis, play-to-earn games, NFTs, and various financial services.
Polygon Cub, often known as Polygon, is a brand-new platform on the Polygon network. It is a DeFi 2.0 yield optimizer platform that enables users to discover safely and easily, yield farm, and profit on the Polygon Network.
The LeoFinance team created Polycub for the Polygon network. They are a rapidly expanding DeFi team that has created numerous DeFi apps such as Leofinance.io on the Hive blockchain and cubdefi.com on the Binance Smart chain network, among others.
The Polygon network appeared to be an ideal match for Polycub, owing to its lightning-fast transaction speeds and, more importantly, its low transaction costs. Nonetheless, it’s worth noting that, while Polygon has the advantage of very low fees, one of the drawbacks to those super-low fees is that the network is frequently overloaded, which means that your transactions can take hours to process.
Because Polygon is a second layer Ethereum network, it is commonly assumed that congestions on the Polygon network are caused by Metamask failing to communicate efficiently with Polygon in its estimation of gas fees.
Using the “FAST GAS” charges as a benchmark whenever executing transactions is one method of avoiding congestion and increasing the likelihood of securing lightning-fast transactions. Even better results can be gained by using advanced settings, which considerably minimizes the risk of being stuck in a transaction for hours because it provides the fastest speed with little to no waiting time.
To link your Polygon and Metamask accounts, click HERE and follow the instructions.
PolyCub aims to improve the tokenomics and mechanics of existing DeFi yield optimizers while also introducing community members to new options on the Polygon Blockchain. Many have compared Polycub token to Bitcoin because it aims to be a store of value or reserve currency with a limited supply of assets that can be used in the future for cross-chain activities and various DeFi protocols, similar to how BTC is utilized today.
Polycub allows its customers to develop yields on its platform by staking tokens in its farms, kingdoms, and xPolycub to earn yields as high as 9000% APY.
As a result of the emergence of decentralized exchanges, cryptocurrency farming has been around since 2020. (DEXs). Because of the rise in the decentralized finance (DeFi) field, it is gaining traction as a critical part of blockchain technology.
Crypto farming or yield farming involves users lending their cryptocurrencies to exchange in farms or pools to provide liquidity for trading in exchange for incentives.
Polycub provides its customers with the opportunity to participate in the liquidity pool via its farms, which leverage smart contracts on the blockchain to provide users with an annual percentage rate (APR) ranging from 350 % to 1100 % with room for growth in the future.
Farms available on the Polycub platform at the moment are as follows;
The following are simple steps for staking tokens on Polycub farms with your Leo tokens:
When you add a new network to your Metamask wallet, a dialogue form appears that must be filled out with the following details to begin using the Matic Mainet.
Your Metamask wallet is now available for use after you have successfully filled out and saved the information.
Enter your polygon address that can easily be gotten from the Polygon website. Indicate the quantity of Leo you want to convert to Pleo as well as your hive username. Your keychain will send you a message asking you to approve the transaction. The Pleo token will be transferred to your Metamask account if the transaction is successful. To see your Pleo token, you might have to import Pleo to your Metamask wallet using the PLeo smart contract stated below.
Then add the Pleo Smart contract: 0xf826a91e8de52bc1baf40d88203e572dc2551aa3
Once the token is added to the Metamask wallet, the token balance can be found on Metamask. Apply the same logic to Polycub’s smart contract: 0x7cc15fef543f205bf21018f038f591c6bada941c
Once this is done, Sushiswap will have used your Pleo to swap into Polycub, which can now be staked in one of the polycub farms.
Enable farms, stake LP tokens on farms, and earn up to 1100 percent APY.
Kingdoms are similar to farms, with the exception that Kingdoms offers auto compounding pools from which users can earn rewards. Polycub now operates four kingdoms on the Sushiswap and Curve networks. They are as follows:
Since we’ve already covered how to acquire Polycub tokens, the next step is to stake them in Kingdoms.
Deposit the token you wish to stake in the Kingdom in the dialogue box, saying the exact amount you want to invest in the Kingdom, and start reaping the benefits from the volume of trades done in the kingdoms.
Once LP tokens are staked in the kingdom harvests would now be reaped yielding up to 200% APY.
Polycub, as we all know, is the Polycub platform’s native token. Users can earn more polycub by staking it into xPOLYCUB to gain the 50% fee penalty produced by other farmers who harvest their yield before the X block locking period.
Staking Polycub as xPolycub plays a dual role in the sense that it acts as a single pool as well-paying harvesting penalties from users who harvest early to users who remain in the pool until the 90 day block locking period expires, This means that users who remain in the xPolycub staking pool are assured that the numbers go up.
Users can stake POLYCUB into xPOLYCUB HERE.
Users begin earning both from trade volumes on the Polycub platform as well as harvesting penalties from other users once the staking procedure is completed.
In the cryptocurrency world, it looks like airdrop is the one word that we’ve all grown to love. Given that PolyCub is CubDefi’s sister platform, the Leofinance team chose a collaboration that would increase liquidity on Cub’s Binance Smart Chain while introducing users to a new and exciting world of opportunities with the DeFi 2.0 PolyCub on the PolyCub blockchain on previously unimaginable dimensions.
As a result, the team has prepared a PolyCub airdrop for all users who have staked Cub in the Binance Smart Chain for 60 days after the launch date.
POLYCUB will be airdropped to everybody who has a stake in CUB:
With daily snapshots taken over 60 days, the PolyCub airdropped should represent at least 0.15 of the Cub staked on the Binance Smart Chain. This means that users having 200 Cub tokens in the kingdom will have around 30 PolyCub dropped to their Polygon address.
How to add PolygonScan explorer to MetaMask
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