Apathy on Polycub hbd
Current yield on stablecoin farm (USDC/pHBD)
The current yield on the polycub stable coin farm is 0.76%.
This is surprising because if the liquidity providers unwrapped their hbd onto hive, they could earn 20%, even if they kept their USDC in their polygon wallet, that will still translate to a 10% return, much higher than putting it into the farm on polycub.
So why have people put in $20k liquidity, and not withdrawn?
My answer is apathy, any rational person (apart form the LEO accounts which want to encourage liquidity) would withdraw their funds back into native HBD.
I did an analysis of the accounts that are currently in the farm, and I found that there are a few larger accounts providing most of the liquidity
So who are the people that have left their liquidity in there?
I did further analysis of who are the people just leaving their money in a low return (albeit probably higher risk than native HBD)
I looked at those with liquidity of $200 of more, and found the following:
- 10 accounts make up $20k liquidity out of the $21k
- Of these 10 accounts, 8 of them have wrapped pHBD from Hive to polygon
- Only one account is linked to LEO finance accounts, and that account only represents approx. $1.7k of the liquidity
- The remaining accounts are from active hive accounts.
My question to the community?
I know the hive names of all these accounts, should I tag the accounts that have left their dormant funds in polycub, so they can withdraw and bring their HBD back to hive and earn a better return?
Or do you think that's an invasion of privacy (despite it all being public information on the blockchain?
Or perhaps you think a bit of apathy is good for the rest of us, who are less apathetic?
Or maybe you think I should try to contact them through other means like discord?
Please comment below and let me know your thoughts.
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