My thoughts on Polycub and why I'm just observing
Polycub has been the hottest topic everywhere on Hive for the last week. Many people who are always fond of DeFi stuff are investing a lot. Nearly a year back when CUB was introduced I was so excited and the very first thing that came to mind was to explore the possibilities of the DeFi universe and that is one of the reasons why I wanted to invest and stay invested. I saw articles from many people about how they grew their portfolio by investing in DeFi.
Back then I initially used to think that Leo was one token that was sufficient and why would the team come up with a new coin altogether. But those were the days I knew nothing about DeFi and even now I don't know if I know enough or not. I was thinking CUB was great because the APR was very good and in addition to that the price of CUB was also far better than LEO at that point.
I got excited and bought CUB tokens when the price was over 4$. But the price started dropping gradually and I thought maybe I was doing something wrong or I bought them when the price was high or maybe I did not book my profits properly. These were some questions that were continuously coming to mind. Ultimately the price of CUB ended below 40 cents and I didn't lose hope and bought some more CUB tokens cheaper and used them on kingdoms. I now have close to 1k CUB tokens staked in kingdoms.
But when Polycub was introduced, I'm now skeptical after seeing the price go down every day. I now wonder why would the team keep introducing new coins every year and not do anything big for old tokens. I'm sure they have some concrete plans for each token they introduce but still, the question comes to my mind, and not sure how many other people have the same thoughts. There are projects that started but were never completed and there were a few exciting plans that were announced but did not progress much after that. I still wonder why would they come up with new tokens every year instead of increasing the value of any existing tokens.
I understand the fact that we are exploring new blockchains and gaining more attention in the DeFi world but still wondering if it is helping the full ecosystem grow or just filling the pockets of only a few. Even though I initially thought that I should invest a little bit in Polycub in addition to the Airdrop I was already received, I'm not skeptical and decided to just keep observing what happens. Many people share their success stories saying that they are getting lots of returns from their investments. But as the investor base increases the rewards will also go down further.
To be very honest, I would be very happy if the Leofinance team stops introducing new tokens with this and start focusing on improving the value of the existing tokens. 3 tokens, for now, should be sufficient to run the show. Even in the future if they explore new chains, the existing coins should be used instead of creating new tokens. This is just my humble thought from someone who did not understand all these very well.
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Posted Using LeoFinance Beta
In my own understanding, all the tokens feed into each other especially into the base token which is Cub.
According to what we’ve read and prepared for, the tokenomics for Polycub is meant to be sustainable in the long run, if it works as planned, the same pattern will be replicated on other chains, while still feeding into the base layer, Cub, as every Cub holder will be eligible to recieve the new tokens.
It’s okay to observe though, there are other busses coming you’ll ride on.
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BEER.Yeah I understand but I'm not sure if this is more like spreading too thin and it is good for the investors. Let's see.
You have a good point here but I think those guys are also trying to grow their reach and expand everything around them. Probably more users and investors. I remember when Khal mentioned that Polycub will also affect the price of Leo positively. Well, everything still work fine with them and I think they might have a master plan.
Yeah the team is skiing really well but I'm not sure if it is really bringing value for LEO.
I tend to completely agree with you. You are not mental by the way. Cub went from €14 to 20c and there was no crying around this. If I was an investor in Cub I would not be happy. Airdrop or no airdrop. Sometimes I think the Leo following are bigging up Leo because of the airdrop and free money, and the Leovoter is nicer to them on their posts if they don't criticise. Sometimes criticism is constructive and I do think this post is constructive. You are dead right to wait and see. No point investing at 80 cent if the token is 2 cent this time next year.
Yeah thanks for your reply. I wanted to be very honest on my thought and did not care about leovoter ignoring my posts just because I'm criticising. It's going to be nearly a week since I got votes from leovoter. I don't know what the reason is but yeah I don't mind sharing my thoughts and at the same time I don't want to blindly support everything the team does because it is a good team.
To be honest you make a big point about the team develop others coin instead of introducing new. But to be candid, the team know exactly what they're upto. To my understanding there is already predicted about the future, in nearest future it will be so hard to introducing new coin because the mass adoption of Cryptocurrency.
Nevertheless you make a good point which I believe many people will have the same thought, introducing new coin every time is not the solution the value of the coin it what will make people invest on it
Yeah it is important to not lose focus on existing things when new things are introduced.
This is interesting. You are mentioning about not buying just observing. It's a very good point to listen to your views. It also depends on the supply and demand. I can only think it's a better product and it's vastly superior. Polycub and xpolycub is very innovative !
Yeah maybe the price going down is an expected thing but not sure what would happen in the long run.
Poly Cub is new & hot indeed, first HIVE 2nd layer to have a Swap that costs less to use than Uni-Swap eh... !1UP
Yeah everybody likes it for the bridge.
Hi @bala41288
I think your asking good questions.
I think in light of the launch of wLEO on Ethereum, the subsequent launch of bLEO on Binance, and now with the launch of pLEO on Polygon it’s a very good time to ask Why three tokens?
I think your observation that Leofinance now has three tokens, each with a value of 25-30 cents is correct. So your question of what is Khal doing to increase the value of your tokens is an important one also.
I would like to propose an answer to your question:
If you read the so called experts on cryptocurrency valuation they usually say cryptocurrency tokens are valued based on three things:
Community; Leofinance is one of the largest communities on Hive, and it’s members are loyal, enthusiastic and involved in each project.
Developer Activity: Leofinance started with a small developer team, and has grown to be a big team. This has resulted in a large amount of activity with several new projects; onboarding webpages, onboarding tools, web page functionality revisions, and several new projects.
Utility: while Leo token began life as a social media project reward token, it has evolved into an key part of an important use case for the Leo token called Leobridge.
I think that the Leofinance project has all three of these important factors usually used to indicate value. But number three deserves more explanation as it goes to the heart of the answer to your question.
I think the three tokens are part of Khals vision for Leofinance to reach out beyond the Hive blockchain, and create a big community on multiple blockchains, using a a token with a unique utility, that utility is to provide trustless transfers of value between blockchains.
I think it’s fair to ask why that’s important?
First,
I think DeFi has taken the financial technical nexus by storm. There are many people making generous amounts of money in DeFi, but DeFi has a fundamental problem of transferring value across blockchains to allow investors to move their capitol safely from one blockchain to another where the financial opportunities are better.
Khal is proposing to provide a solution to this very prevalent problem. It is one of the complexities of cryptocurrency. The solutions are bridges, and bridges are complex, prone to manipulation, hack and expensive.
Khal proposes a trustless, solution to moving capitol between Ethereum, Binance, Polygon and Hive. This is a big project, and in time it will also include Thorchain, Avalanche, and other EVM blockchains with DeFi investment opportunities.
This means that the utility of your coins is providing a medium of exchange, moving value between these blockchains. This utility and some scarcity of a small market cap coin, should increase the value.
Earnings
Second, I look at Cub and PolyCub and notice that the Cub Air drop, free money, was based on investors holding Leo. And the air drop of PolyCub, once again free money, was based on holding Cub.
Third, Khal has stated that future tokens on Avalanche and other blockchains will also provide air drops, or free money, to Cub holders.
Fourth, Cubfinance and now PolyCub has given Leofinance community members the opportunity to make money due to early access to high APR investments.
The opportunity
I think we have had a wonderful opportunity to create multiple streams of income by being active here on Leofinance and Hive.
I hope this answers your questions.
Posted Using LeoFinance Beta
Just wanted to jump in and clarify for you that there’s only 1 LEO token
“ I think in light of the launch of wLEO on Ethereum, the subsequent launch of bLEO on Binance, and now with the launch of pLEO on Polygon it’s a very good time to ask Why three tokens?”
They are all wrapped versions of the same token. We could create 100 wrapped versions of LEO and none of them add to the supply of LEO.
Posted Using LeoFinance Beta
Thank you for this clarification. I will reword my reply to clarify this.!
Posted Using LeoFinance Beta
Well you made your own opinion because we are all entitled to our own different opinion to a particular choice, I believe the action leofinance took in introducing polyCUB is not bad at all because more people are trooping in to be part of it and it is also a good initiative to inform others about the progress
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No sé mucho del tema, pero me llama la atención la moneda, no sé si alguien pueda orientarme sobre la inversión, he leído varios post pero me siguen hablando de proyecciones y me gustaría saber cómo o dónde puedo comprarla.
I also feel that being focusing on many thing cause to lose the focus but constant expansion is also needed.
I guess , I will not be stressing myself to chase the new project and what I have I will hold.
Posted Using LeoFinance Beta
It is very complicated and I do not know what to do with Polycub.
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