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Introducing PolyCub Burner

Cover - Polycub Burning.png

The Polycub project is one of the most interesting DeFi projects I have ever come across. The monthly halvings in inflation will result in an extremely small total supply that will never reach 7 200 000 tokens.

Instead of using inflation to pay for farms, kingdoms and vaults forever the protocol will use the revenue generated from multiple sources to buy back and distribute additional Polycub on top of the dwindling inflation.
We're getting close to the point where inflation alone is not enough to sustain appealing yields so the protocol buyback and distribution mechanism will kick in to help boost the yield soon.

Why Create PolyCub Burner?

I want to make the total supply of Polycub even smaller than it already is. Burning tokens is the best way to bring value to every token holder proportionally to their holdings. Buying Polycub from the market and burning it will lower the supply and increase the price.

90% of all post rewards generated by this account will be used to buy Polycub the remaining 10% will go to @myfreebtc for managing fees this might be lowered depending on how successful this venture becomes.
I will also convert 100% of all second-layer tipping tokens received into Hive to buy more Polycub. The LEO earned in this account will be sent to the @null address. There will be a section at the end of each post detailing how much LEO is burned over the duration of this project.

Posts

The idea came from the buildawhale burn posts but there will be a twist to the posts. Instead of just posting an image and a little bit of text I will also try to add a little bit of value to the posts by sharing daily stats about PolyCub. Also instead of burning all the rewards I will convert the Hive and HBD to VexPolycub and burn it.

  • Current circulating supply
  • Changes and growth of XPolycub, XPoly/Polycub ratio and VexPolycub
  • Hive, Hive Power, Liquid HBD, and HBD in savings on the @p-hive and @p-hbd accounts.
  • Revenue generated by the Multi token bridge on the previous day.

I have no coding skills so I will have to grab all the data manually and add some commentary to the posts. My goal is to collect the data every day at around 11 AM UTC and Publish it around 3 PM UTC.

It will be complicated not to skip a day every now and then, especially on the weekends. I promise to do my best to be as consistent as I can.

Burning Post Rewards

All of the Polycub bought will be turned into XPolycub and then turned into VeXPolyCub. VexPolycub is a transferable token so once I have the VexPolycub I will send it to the burn address on Polygon. The Vexpolycub will keep farming more and more Polycub over time so it will keep burning more Polycub even after I send it to the burn address.

Every first Monday of each month I will buy all the Polycub I can with the author rewards from this account and make a post with all the links and information about how much VexPolycub I was able to burn.

It would be very helpful to grab khaleelkazi attention, potentially a shoutout, and some upvotes from the Leofinance accounts to bring more awareness to this initiative.

All feedback is welcome, make sure to drop a comment down below with your thoughts about this venture.

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