PolyCUB has arrived. So have the questions. I've been on Discord for the last 8 hours asking some of them myself. Here are 10 questions and answers that will hopefully ease some of the frustration and allow people to better understand what they're doing. It's a wall of text so I'd probably recommend just reading the questions before deciding whether you want to read all the answers.
Question #1
It says I'm getting 60 PolyCUB in my airdrop over the next 60 days, so 1 per day, but when I claimed it I only got a fraction of that. What gives?
Answer: There are actually four snapshots per day so the amount to be claimed will only be a fraction of what you're getting for the day. These snapshots are also not at set times so the numbers can be substantially different each time you claim. (Edit: there is still some debate over whether there will be four snapshots per day with four separate airdrops or whether there will be four snapshots with only one airdrop. As of this writing, I'm still waiting for a second airdrop so it may very well be the latter).
Question #2
Where do I go to see my claimed airdrop?
Answer: It will appear on the "Home" screen under "PolyCUB in wallet" and also on the xPOLYCUB screen in your "wallet" there.
Question #3
I've got my PolyCUB in my wallet. Now what?
Answer: There are multiple things you can do with it once you have it on the platform. The simplest is to do the same thing most people are doing with their regular CUB: stake it in the Kingdom. To do this, simply go to the xPOLYCUB screen and click the + box near the bottom and enter how much you want to stake.
ATTENTION: the amount of PolyCUB you stake will NOT match the amount of xPolyCub you see staked.
This is because they are two different tokens. The xPolyCUB is worth MORE than PolyCUB because it is gathering penalties from people who claim their tokens early. While you have the xPolyCub staked, you will be benefitting from those penalties. Once you decide to leave the Kingdom, you will receive PolyCUB in the amount equal to the number of xPolyCUB you are unstaking PLUS any value accrued from receiving those penalties. That number will continue to grow as more and more people claim early and pay the penalties. Last I heard, 1 xPolyCub was equal to about 1.6 Polycub so there is already a lot of value building up in the Kingdom.
For example, if you stake 16 Polycub into the xPolyCub Kingdom, you will only see around 10 xPolyCub show up. Conversely, if you unstake 10 xPolyCub, you should receive 16 PolyCub back in your wallet. The xPolyCub should continue to grow in value as more penalties accrue. By the time you decide to unstake out of the Kingdom, each xPolyCub could potentially be worth 2, 3, even 4 or more PolyCUB each. It all depends on how many penalties are generated and how long you're in there.
The second thing you can do with your PolyCub is add it to one of the liquidity pools. You can choose from three different farms (PolyCub/USDC, PolyCub/wETH, and pLEO/wMATIC). To enter these pools you need to put the same dollar value into both sides of the pool.
So if you want to enter the PolyCub/USDC pool, for example, you would pair the same dollar amount of USDC as you are using in PolyCub. If you click on the "Details" tab on the far right of these Farms, you will open a larger menu where contract addresses and links to the pools will be available to click on. You need to make sure you enter the contract addresses into your wallet (you can search for the token symbol and then click on "View in PolyScan" and find the contract there or you can go to Discord and someone there can give them to you).
I'm sure someone will be coming out with a detailed post on how to do this if you can't figure it out with the information here. Or, as before, there are plenty of people willing to help in Discord right now.
There are also 4 Kingdoms you can enter with different base tokens as well. The same rules apply to those. Get the required base tokens and then pool them using the contract address given to you by clicking on the "Details" button of the Kingdom you wish to enter.
Question #4
I'm in the pools and I see rewards building up. What do I do with them?
Answer: At this point, that's up to you. The important thing to consider here is that these are the rewards that people are paying penalties on if they claim them early. You can harvest the rewards with no penalty, but you can't claim them. There is a 90-day lock on all harvested rewards.
If you go to the "Home" screen, you will see "Locked PolyCub" and "Unlocked PolyCub" to the right. Below that are two buttons allowing you to "Claim Locked" or "Claim Unlocked" PolyCub. In the "Locked PolyCub" section you will see how many PolyCub you have that are locked and what the penalty will be if you claim them. It is 50% of the total so it's a steep penalty. That said, a bird in hand is worth two in the bush so...if you want to claim before the 90 day lockup period is over, that is how you do it.
Once you have claimed them, you can then sell them, put them in the xPolyCub Kingdom, or re-pair them with something else and put them back in a pool to earn more rewards all over again. Your call.
Question #5
Does my lockup period start over each time I harvest?
Answer: No, each time you claim a reward the 90 day clock will start for that particular set of rewards only. For example, if you decide to harvest your rewards once a week, then in 90 days your first harvest will be unlocked. Seven days later your second harvest will be unlocked, and so on. Even though the rewards will be added together under the "locked PolyCub" section, each set of rewards will have it's own timer. So if you want to know how much will be coming unlocked each time, you'll have to write it down somewhere and keep track of it yourself.
Question #6
Do I need MATIC in my Polygon/Metamask wallet to pay for transaction fees?
Answer: Yes. While fees are very minimal (even less than BSC), you still need MATIC to do transactions. The easiest way to get MATIC in your metamask wallet is probably to use the swap.Hive/swap.Matic pool on TribalDex or BeeSwap. You can then "Withdraw" the swap.matic to your metamask wallet. Like I said, you don't need much. One single MATIC token should be sufficient for a while, and once you have that on there to run the initial transaction, it is very easy to simply swap a PolyCub or a pLEO (or whatever) into more MATIC for future transactions if you need to.
Question #7
How do I get tokens from my BSC wallet to my Polygon wallet?
Answer: LEO. That is why Khal designed it this way and that is what the LeoBridge is for. You can convert whatever you want on BSC into bLeo and then use wLeo.io to convert it to LEO. From there you can use the same site only switch it to pLEO and send your LEO to your Polygon wallet as pLEO.
Or you can use the LeoBridge to do the same thing. I'm not 100% that is up and running yet but it does the exact steps I just described only you don't see it. You just see the end result. With the LeoBridge, you can actually just input the BSC token you want to send and the Polygon token you want it converted into and you won't need to do any of the in between steps. For example, with a couple clicks you should be able to convert BUSD on BSC into USDC on Polygon.
Question #8
This PolyCub is new with huge APY's. Should I move my CUB over to PolyCUB?
Answer: That is for you to decide. But, before you go chasing these returns there are a couple things you should consider. First, the massive APYs on PolyCub are going to trend down fairly quickly. They are front-loading the inflation to get the token distributed. For the first week, they are distributing 5 tokens per block, 4 per block in the second week, down to 3, 2, and then one and then they will continue to lower those rewards monthly until they basically reach zero. By that time, the mechanics Khal and Co. have put into the platform will continue to generate returns for the holders. That said, who knows what those returns will be. Plus, also remember that any rewards you generate on PolyCub will be subject to the 90 day lockup if you don't want to pay penalties.
If you own CUB already, you will be getting airdrops every day for 60 days so you will get to participate in PolyCub regardless. It's up to you to decide if you want to go through the process of getting everything set up.
The second thing to consider is that all future airdrops on other platforms (Avalanche, Terra, ThorChain, etc.) will be based on your CUB holdings. In other words, the more CUB you hold, the bigger the airdrops you'll get on these other platforms as well. How you choose to play it is completely up to you, but this is definitely something to consider before just throwing everything over there.
Question #9
I just see a number in my xPolyCub Kingdom that never moves unless I add to it. How do I know what it's worth?
Answer: As I mentioned above, xPolyCub is a different token than PolyCub. To figure out what it's worth you need to find out how many xPolyCub tokens are in existence and divide that number into how many regular PolyCub are staked. You can find the first number here, and you can find the second number in the xPolyCub section of the site. Divide the first number into the second, multiply that number by how many xPolyCub you have staked, and multiply that number by the current price and you'll know how much you have in the Kingdom.
Question #10
Where do I go if I get stuck or need some help?
Answer: One of the best features of LeoFinance is it's strong community. If you need help there are many people around willing to give you a hand. There will be many articles posted about all of this over the next few weeks. Check the trending page and do a little reading and chances are you will be able to answer your own questions. If you're a little more anxious, head to the LeoFinance Discord here, or you can go to @LeoMarketTalk and join the conversation there. As I said, there are many knowledgeable people way smarter than me willing to help.
I would encourage anyone who wants to continue learning about PolyCub, LeoFinance, CubDefi, and HIVE in general to check out @LeoMarketTalk daily. There is a new post every day where people can come and find out the latest news about things going on around HIVE as well as, as I said, getting questions answered about things they might be having trouble with.
In conclusion, by no means is this an exhaustive of the questions people might be having, hopefully it will at least give you some answers and also some help in figuring out where to go to get the rest.
It's a new day for LeoFinance. PolyCub has the potential to change the face of this place forever. I highly encourage people to take advantage of it. As I said above, simply owning CUB and staking it in the Kingdom gets you into the Defi game and will allow you to participate in any future airdrops coming with these expansions onto new blockchains. The future is bright!