"Are bridged assets ultimately going to expand to include from outside the Hive community? Hope so if that is feasible. Outside money is Ultimately what could be gasoline on the fire."
We would really like to propose some external bridged assets to the DAO. It might add some more complexity to our developments, but I've already scoped it out with the dev team and it is entirely possible.
For example, we'd need to create what is essentially a two-step wrapped token.
- A native asset would need to be chosen (let's take RUNE as an example)
- PolyCUB DAO would create something on Hive's second-layer to represent RUNE - i.e. hive.rune on Hive-Engine
- From there, it would work exactly like pHBD (wrap and unwrap hive.rune to PolyCUB from Hive and back)
- hive.rune would be 1:1 backed by native RUNE which we would stake on Thorchain
- "polycub.rune" would be 1:1 backed by hive.rune (which is 1:1 backed by real RUNE)
This is kind of a crazy setup but it would most definitely work. It has the added benefit of bringing RUNE into the Hive ecosystem. So we effectively add RUNE to both Hive and PolyCUB and now anyone on Hive or PolyCUB can buy and LP RUNE.
It's an exciting idea for me - obviously when RUNE is the example - and it is completely doable with the technology that the PolyCUB DAO controls (Multi-Token Bridge from Hive to Polygon).
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These RUNE stuff are just awesome to jaw dropping levels. Can't wait to see it happen!
Make it a top level post! It's too good to be a comment :)
Coolest part is these things can be ported to CUB & other future launches. Can't wait to see that become a thing!
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Haha yes we will… SOON
This is an extremely important step for us. It needs to be carefully outlined and explained because I think people get a little scared when they hear synthetic assets.
Synthetic assets are incredibly important for the future of PolyCUB, I think the potential value accrual they hold is utterly enormous.
On top of that, each pool (I.e. pRUNE - POLYCUB) is pair with POLYCUB which makes it infinitely more valuable.
Exactly! This multi-chain token bridge extends in all directions and CUB is going to get a radical face-lift when this is all said and done
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That is huge when you are looking at bringing all those different tokens into the Hive ecosystem.
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With many different ones we increase the chances of something going ballistic.
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TO THE MOON!
We’re calling these V2 vaults - they accrue value from 5 different angles for the PolyCUB PoL
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My goal is to make this a reality through PolyCUB. PHIVE is days away and pSPS will follow. We’ll start working on this with big time focus afterwards
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Polycub will really benefit since most of those tokens do not have much exposure to other chains.
This will open the door, perhaps, for larger volume.
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Much larger volume and because we have all these new pools paired against POLYCUB, there’s going to be a LOT MORE liquidity for the POLYCUB token.
When people trade POLYCUB, they’ll have much deeper liquidity to do so.
This will also lead to more arbitrage between pools which = more trading fees + value accrual for the PolyCUB PoL
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RUUUUUUUUUUUUUNE! That would make me happy if that was the choice.
:-)
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Me too, I have HUGE bag of RUNE (obviously)..
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Sold most of mine to get moar PolyCUB.
Gotta start buying back :-)
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