Good morning Lions I hope you're all doing ferociously well today I can understand if you're a little under the weather if you were in CUB and looking at the numbers it doesn't look too good.
I know how I'm feeling I put in about $6000 at the $8 mark and I have a long way to go to regain ground. But as mentioned before this is quite common in tokenomics. Initially there's a boom that drives price and then a dip and low followed by a doubling of the initial high. This can take as long as 12 months so don't FUD just yet keep on BUIDL!.
It does go to show one thing though, alot of factions start complaining about reward farming and flag wars have occured. Those same people aped into CUB and bailed with all the highs. Literally farming the reward pools. As I've been on the block chain for 4 years I've produced a significant amount less posts than they have I also have never used bid bots. You're account has done well, well done. I'd appreciate it if you didn't constantly attack others. Hive isnt going anywhere it will only grow, you're not going to miss out on rewards. Also as I'm 4 years on the block chain I'm still bringing in Fiat not selling. It is people like me and the many others that are lifting and holding the token price. So your success is bound to us spending. Attacking us will only push people who spend and use the platform away. When no money comes in, well you know what happens.
Matic
Image source
Yesterday I wrote about Polygon which is the former Matic network and currently still uses the Matic token as its native token. Current price discovery is occurring and the token is booming, I got in as I didn't want to miss this ones bull run. This isn't financial advise but I can see it reaching $50.
Most recently to launch on the network is Polydragon which has the native token fire. It is an interesting combination of RFI and yield farming. Polydragon.io allows you to stake the token into a Den which has a similar look to CUB Finance. I believe it is built off the open source code from Pancake swap.
How is is tracking?
At current it is still early days but the token is mooning. As it is an RFI token which gives you divs for simply HODL the token in your wallet you can earn a greater yield by staking it in either one of two farms. The USDC - Fire pair in the forge or just straight in the DEN.
Slippage needs to be increased between 8% and 11% this is to ensure the liquidity pool has a continuous supply of tokens and HODLrs are provided with ongoing divs, but the rewards are far greater in the staking farms.
Yield rewards are currently sitting at 400% in the paired forge. With news emerging that there will be a Matic staking forge to be released. Every since Polydragona announcement and roll out the price of Matic has continued to go on a bull run.
Polydragon Finance has also been moving up the ranking lists quite nicely for a new project. Currently sitting at 31st position in the matic network and 145 in Defi rank and only 260s for entire market rankings. I'd anticipate this token to make it into the top 100 within the next few days.
How to access
So, it's a relatively new network and barriers to access are many, there's an entire set up, bridge and multiple links to go through to get you onto the network.
Bridging USDC from BSC to Ethereum is also a challenging process as liquidity is low but so are fees. You end up with an ERC20 token for less than Ethereum fees. Thus is why Matic will boom. Access to ERC20 but for a fraction of the price.
https://quickswap.exchange/#/swap?outputCurrency=0xe118e8b6dc166CD83695825eB1d30e792435Bb00
STAKE AND FARM $FIRE HERE
https://polydragon.io/
CHART
https://quickchart.app/token/0xe118e8b6dc166CD83695825eB1d30e792435Bb00
HOLDER LIST
https://explorer-mainnet.maticvigil.com/tokens/0xe118e8b6dc166cd83695825eb1d30e792435bb00/token-holders
BOARDING TO MATIC NETWORK
Set a new MATIC Network (not token) in your wallet app.
SIMPLY USE THE TOOL IN THIS LINK TO SET NETWORK http://chainlist.org
Details if needed:
Network Name: Matic Network
New RPC URL: https://rpc-mainnet.maticvigil.com/
ChainID: 137
Symbol: MATIC
Block Explorer URL: https://explorer.matic.network/
After setting up MATIC Network in your wallet app:
Stay in BSC and swap the amount you wish to exchange to USDC on Pancake Swap
Once you have USDC on BSC, use https://www.xpollinate.io/ to transfer USDC from BSC to Matic Network
SET USDC AS CUSTOM TOKEN IN MATIC NETWORK WITH CONTRACT 0x2791bca1f2de4661ed88a30c99a7a9449aa84174
In case you have transferred USDT from BSC to MATIC, you can still swap USDT to USDC at
https://quickswap.exchange/#/swap
Quickswap can also be used to swap to various other currencies on MATIC Network.
If you have access to telegram there is also a great video tutorial which can be found Here
Don't get too excited
There's a reason why I brought up CUB and reward farming at the commencement of this post. CUB was able to be reward pool farmed due to low supply and the ability of Hive whales to go all in and take a larger portion of the pie and then leave.
This is fine, there is nothing wrong with it I do not hold any ill feelings or thoughts to people that did that. That is the system, just like I don't complain about the amount of rewards someone earns or the amount someone posts on Hive/Leo. I do have an opinion on double standards, I don't often voice it but I do think some people are silly. Shows their greed over a supportive and successful ecosystem.
But, who cares? Just ignore it and move on it is what it is.
RFI changes or at least weakens this by having an abundance of supply Fire the yield farming token has a circulating supply of 1,000,000,000,000,000. This high supply coupled with the tax which ensures liquidity prevents massive buy outs and over valuation and more organic growth occurs.
You can follow the tokens stats and growth Here
If you're going to invest in Matic please be sure you need a minimum of 81 to undertake a transfer so if your looking to buy in and want to move them around make sure you have a plan in place to reach the 81 amount otherwise you might be stuck on an exchange.
There is also a Matic forcet which will provide you with 0.001 Matic to undertake your first transfer. I haven't shared the link as I haven't used it so I'm not sure how it works or risk associated with it.
Use services at your own risk.
I hope you enjoyed today's post and I'd recommend keeping an eye on the Matic network which will put Ethereum back on the map.