vexPOLYCUB Has Paid It's First 20% APY to Holders + 40k POLYCUB Out of the Open Market and 37.8% ($4,129.80) PolyCUB Buybacks - Join the vexPOLYCUB Revolution

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(Edited)

Greetings to my esteemed Lions on the LeoFinance ecosystem and the entire hive blockchain. It's another day and a time to share about happenings around the LeoFinance ecosystem and precisely about PolyCUB and vexPOLYCUB. It's your friend @faquan, saying hello from this part of the world.

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It's quite obvious that Voting Escrow xPolyCub (vexPolyCub) will deliver it's purpose of being created. This is because at its launch a month ago, within the first 48 hours, about 40% of the entire xPolyCub that was at that time was migrated to vexPolyCub. Which DeFi platform receives such a quick investment if they aren't trusted.

This just brings us to the fact that since the launch of PolyCUB, it's been from one value creation to another and attaining financial relevance for the LeoFinance ecosystem in a bear market.

A quick reminder to those who must have forgotten what vexPOLYCUB is and why it's created. Voting Escrow xPolyCub (vexPolyCub) is a LeoFinance PolyCUB project that helps holders of xPolyCub to stake or lock up their xPolycub holdings to vexPolyCub for 2 years in return for a fixed 20% APY.

Initially, many potential investors have asked how is the platform going to generate the fixed 20% APY, but this question was immediately answered in one of the weekly AMA hosted by @khal and the @leofinance team. The way to generate this is through monthly PolyCUB buybacks.

PolyCUB buybacks is one of the amazing strategies of reducing the number of PolyCUB in the open market, which makes the protocol have complete control of the number PolyCUB that'll be in existence in the nearest future.

Since the vexPolyCub platform is open for incoming investors to stake PolyCUB into vexPolyCub, the number of PolyCUB will gradually reduce monthly and the higher the migration, the more the PolyCUB to buyback from the open market.

It amazes me to know that about 40k PolyCUB has been bought back from the open market just within a month after vexPolyCub was launched. This news was released by @leofinance in a post titled: FIRST EVER PolyCUB Monthly Report | August 2022 - 40k POLYCUB Bought Back, $11k Revenue and More!

Since this post is focusing on vexPolyCub revenues in terms of PolyCUB buybacks, we'll look at the progress made by vexPolyCub in the month of August.

This month, 40k POLYCUB was purchased from the market and sent to the vexPOLYCUB stakeholder contract. This was $4,129.80 in USD terms.Source

This is super amazing to note that just in a month, the PolyCUB buybacks could amount to slightly above $4k. Remember that the buybacks aren't just for feeding the (fixed 20% APY) vexPolyCub holders, but also to increase and sustain the PolyCUB owned liquidity (Pol).

It should be noted that after distributing the 20% APY to vexPolyCub holders, the remaining balance will be autocompounded into PoL reserves to help strengthen the protocol.

I'll conclude by saying that, this monthly reports on the progress of vexPolyCub DAO and PolyCUB DAO, will increase the PolyCUB buybacks which is beneficial to the entire PolyCUB protocol most especially vexPolyCub holders and the Pol.

It isn't too late for you to join the vexPolyCub platform and also enjoy the amazing rewards that it offers users.

vexPOLYCUB: the next value accrual channel for both LeoFinance ecosystem and the vexPolyCub holders.

Thanks!

Grace and peace to you all

Posted Using LeoFinance Beta



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