On the topic of decentralization and having the community’s interest at heart, polycub’s decision of giving the community the opportunity to choose what they want and which option they prefer through governance voting is a very good one. Most of us talk about web 3 and decentralization without experiencing it, except you have voted for Hive’s witnesses on, well that’s also part of a governance activity.

Yeah, back to polycub, we were so excited about polycub and the goodies that came with it, which is the staking of POLYCUB for XPolyCub, which is a number going up accrual kind of investment, then they came the farming sector where we have the opportunity of bridging some of Hive-engine tokens to polycub to stake them and earn more yields. Lots of us complained about the lock up period of 90 days which was quarter of the year and how long it was to wait. We were given the opportunity to vote for a new lock up period, most of us voted for 30 days. That was the first polycub governance vote, it felt really nice.

I will say that polycub is the first defi governance voting activity I have done on defi, the next governance voting was on Pancakeswap. It is way different from the polycub voting, because, it has a frontend.

Voting On Yield Dynamics

In my little experience on defi this is the first time I am seeing a governance vote to increase the yield on a vault. This means that if you want more yield to be added on any of the vault in which you partake in the liquidity prividing, and you have XPolycub staked, this is your time to exercise your voting right.

This is one of the advantages of polycub, you provide liquidity to earn polycub, you stake XPolycub to earn more yield which gives you more voting power. As you know that more XPolycub means more voting power, less XPolycub means less voting power. If 100 people with extremely low XPolycub voting power votes on a particular vault then 10 people with way higher voting power than these 100 people combine, votes on a particular vault different from what the other 100 people voted on, the vote will favor the 10 people more because they have more XPolycub voting power. So it’s a advisable to go stack up some XPolycub to get higher voting power so your vault can have more yield.

This vote is quite different from the regular voting you might have experienced on other platforms. For instance the voting I did on pancakeswap was, going to a Pancakeswap voting website, connected the site to my Metamask and voted. I confirmed the vote with my Metamask and it was casted. But polycub UI voting site is not ready yet, so we will be voting differently with our Metamask.

Voting With PID

As an XPolycub holder you naturally have 2 votes, you can’t cast more than 2 votes, if you vote more than twice, it will cancel the previous vote. Let me explain

Let’s say for instance we have 6 LP Vaults available for voting

LP Vault 1

LP Vault 2

LP Vault 3

LP Vault 4

LP Vault 5

LP Vault 6

If you want to vote for vault 2 & 6 respectively, if you cast another vault of let’s say vault 1, vault 1 will replace vault 2. This means that you still have only two votes which are votes on vault 1 and 6. If you cast another vault vote, let’s say vault 4, vault 4 will replace vault 6 you now have vault 1 & 4. The system makes sure you don’t get more than 2 vault votes.

But then these are the available vaults to be voted on from the Leofinance post on the polycub vote.

• POLYCUB-USDC PID: 0.0004
• POLYCUB-WETH PID: 0.0005
• pLEO-MATIC PID: 0.0006
• pHBD-USDC PID: 0.0008
• pHIVE-POLYCUB PID: 0.0001
• pSPS-POLYCUB PID: 0.00011

Polycub is a defi platform on the polygon blockchain. Due to the unavailability of the voting UI, voting is different, you have to send the PID: Number of your vault choice in Matic to the polycub governance address. This is possible because of the extremely low gas fee nature of polygon(Matic).

I will be voting for pHBD-USDC & pHive-Polycub.

This means that I will be sending 0.0008 Matic & 0.0001 Matic to:

Governance Address

0x2CAA7b86767969048029c27C1A62612c980eB4b8

Just like this

Posted Using LeoFinance ^Beta