PolyCUB is the newest addition to the CUB Defi family. Polygon CUB extends the ecosystem from Binance Smart Chain to Polygon.
An allocation is dropped to holders of CUB over a period of 60 days. The token is currently experiencing a rapid inflation phase. Initial inflation started out at 5 PolyCUB per block (every 2 seconds) and already dropped to 1 tokens per block. Emissions will stay at 1 CUB per block for 1 more week.
Governance Vote
The latest feature is the use of xPolyCUB as governance token:
Introducing xPOLYCUB Governance | First Vote: Reduce the Locked Claim "Power Down" Window.
The first voting window is closing in a few hours.
@onealfa created a post about the state of voting yesterday:
Let your voice be heard
Voting participation at the time of his writing was still low. Only 73 votes were cast. Now there are 78 votes cast, out of a total of 554 potential voters (14%).
Looking at Numbers
One special feature is the option to stake PolyCUB in order receive xPolyCUB. xPolyCUB receives inflation and 50% of the early harvesting haricut.
The growth of staked PolyCUB has been slowing down:
| xPolyCUB | Growth xPolyCUB | staked PolyCUB | Growth staked PolyCUB | |
|---|---|---|---|---|
| 13.03.2022 | 118039 | 1155480 | ||
| 20.03.2022 | 147146 | 125 % | 2143376 | 185 % |
| 27.03.2022 | 165587 | 113% | 2946201 | 137% |
| 03.04.2022 | 174638 | 5% | 3414844 | 16% |
| 10.04.2022 | 182071 | 4% | 3659610 | 7% |
| 17.04.2022 | 185563 | 2% | 3799559 | 4% |
| 24.04.2022 | 189549 | 2% | 3923194 | 3% |
Ratio of staked PolyCUB to xPolyCUB:
Top 50 accounts ordered by percentage:
As of April 24th, total PolyCUB supply is 5'369'497. Of those, 73% is staked in the xPolyCUB vault, which is an equivalent of 1'059'262 Total Value Locked (TVL) in the xPolyCUB vault:
Price of PolyCUB and xPolyCUB over time:
Data taken during airdrop claims.
Stake Distribution
Account classification
- Whale = Accounts holding > 1% of total supply.
- Investor = Accounts holding between 0.1% to 1% of total supply.
- Retail = Accounts below 0.1% of total supply.
Whale Domination describes the share of tokens whales hold.
A few tokens for comparison:
| Token | Domination [%] |
|---|---|
| DASH | 4 |
| ETH | 14 |
| HIVE | 40 |
| DOGE | 45 |
| BTC | 63 |
| VET | 74 |
Distribution as of April 17th:
| Whale Domination % | Investor % | Retail % |
|---|---|---|
| 70.68 | 22.4 | 6.92 |
A whale domination percentage of 71% is extremely top heavy, but it is early times and domination has been dropping from 76%.
Out of a total of 554 xPolyCUB addresses there are:
| # Whales > 1900 xPolyCUB | # Investors | # Retail < 190 xPolyCUB |
|---|---|---|
| 19 | 79 | 456 |
xPolyCUB distribution across accounts:
| Max | Mean | 3rd Quartile | Median | 1st Quartile |
|---|---|---|---|---|
| 25378.46 | 3504.16 | 100.00 | 18.67 | 3.82 |
The extremely large difference between mean and median balance shows a strong concentration of assets in the top quartile. Although still very lopsided, the distribution is slowly improving, which can be observed by the Herfindahl–Hirschman Index (HHI):
The HHI is a measure of industry concentration or competitiveness. Increases in the Herfindahl index indicate a decrease in competition. The scale ranges from 0 (highly competitive) to 1 (monopoly).
Data source: polygonscan.com
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