Greetings to my esteemed Lions on the LeoFinance ecosystem and the entire hive blockchain. It's another day and a time to share with us profitable ventures on the hive blockchain and how we can use them to better our lives both now and the future. It's your friend @faquan, saying hello from this part of the world.
One thing I've come to notice on the Hive blockchain is that there are numerous platforms that can change one's financial fortunes if only the individual can see those fruitful ventures on the blockchain.
From the first layer of the hive blockchain, the hive stablecoin (HBD) offers holders an opportunity to fix their holdings into savings and earn rewards in terms of interest.
In April, the interest rate was changed to 20% APR by a unanimous decision of Hive Witness and this have seen the mass migration of HBD to savings.
Since one of the rewards for post is HBD one can move their HBD rewards into savings and gain a lot of rewards, although, the beauty of HBD savings is for accounts that have or can afford much HBD in their savings.
Another venture on the hive blockchain but owned by the LeoFinance ecosystem that offers good APY is the vexPolyCub.
vexPOLYCUB is a PolyCUB project that offers holders a fixed 20% APY in exchange for a 2 year locking up of their xPolycub holdings.
HBD Savings Vs vexPOLYCUB Lock
Both platforms to me are savings account but of different sources. HBD savings is on-chain, while vexPOLYCUB lock is PolyCUB savings.
Similarities
Like we've mentioned above, both are saving platforms but of various degrees. One of the similarities between HBD savings and vexPOLYCUB Lock is that they both offers 20% interest to holders of the tokens.
Differences
There are many differences between the two ventures and they include:
- the rewards for HBD savings have an unlocking period of 30 days, while vexPolyCub has a 2 year unlocking period.
- two different ways of generating rewards. HBD savings rewards are generated by the blockchain, while vexPOLYCUB interest is generated from the monthly PolyCUB buybacks. The protocol have designed an avenue by which PolyCUB in the open market can be bought and the revenues will inturn be shared by vexPolyCub holders and the remainder moved to the Pol.
- to me HBD savings is short-term savings, while vexPolyCub is for long term, although one can decide to live he's or her HBD for as long as they want in savings.
- HBD savings is a straight forward venture, while vexPC holders earn rewards from holding xPolyCub as well as staking vexPolyCub for 2 years and also have 3x governance vote on the PolyCUB platform.
I'll conclude by saying that, you can choose from any of the options, but if you need a long term platform to invest your money, then go for vexPolyCub and grab your huge rewards after two years.
Posted Using LeoFinance Beta