Understanding "Harvest" & "Claim" in Polycub
Earlier today, I was exploring the Leo Finance front page when Khal's post caught my eye and without even opening the article, I know immediately that I have been thinking wrong all along. The words "Harvesting" and "Claim" on the title "PolyCUB Harvesting: How to Claim!" gave out what I have missed to understand prior to today which was of course confirmed when I watched the video.
How I initially understood the 30-day time lock:
- that I can only harvest/claim after 30 days if I didn't want my farming rewards to have a 50% penalty.
And that is absolutely wrong.
The reality is, we can actually HARVEST our farming rewards everyday or as often as we want and those harvests go to the "Locked Polycub" vault where it starts to count down the 30-day period before it goes to the "Unlocked Polycub" vault where we can then claim without a penalty.
Obviously, if the rewards are small, it doesn't make sense to harvest them often considering there are fees associated (although in Polygon network, the fees are negligible but can be something when accumulated).
I can't help but laugh at myself for being so noob, but that's the fun part of learning. I was used to "harvesting/claiming" being the same in my previous LP/farming experiences because none have any time lock on them. So when I harvest (or claim), the rewards go to my wallet soon as the transaction gets confirmed. That obviously doesn't apply in Polycub and I'm just grateful to have learnt that "new" thing today.
To experience how it is done, here's my Polycub dashboard (currently, I only have a share on the pHBD-USDC pool and I started days ago.)
claimed HARVESTED 3.953pCUB and it went to the "Locked" vault where it will count 30 days before it goes to the "Unlocked pCUB" vault where I can then CLAIM without any penalty. Or if I don't want to wait for the 30 days, I can CLAIM it now by pushing that "Claim Locked" button but I will only receive about 1.98pCUB because of the 50% penalty.
And so this has been a new learning experience for me today. I hope none of you had the same (mis)understanding as I did.
Photos are screencaptured from Polycub and No copyright infringement intended. 200522/11:50ph
Posted Using LeoFinance Beta