pHIVE Is Alive On Poly(cub)gon! .:. Wrapping HIVE, Checking the Price, Arbitrage Trading?
After pLEO and pHBD (wrapped versions of our HBD and LEO from HIVE) on Polycub, it's time to have a big brother present on other blockchain networks out there... As Polycub is located on Polygon (MATIC) network, the first place for HIVE outside the native chain will be right there! And the new PHIVE-POLYCUB liquidity pair has been added to the Polycub farms today! At the moment of writing this post, the APR is over 200%, but it will not last too long on that level... And that's totally normal and OK...
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When pHBD was launched, I have created a short tutorial on how can you add HBD on Polycub and the procedure is identical for pHIVE, so I will not create another one again... Instead of doing that, I will share a couple of important links that you will maybe need it... If you are not wrapping HIVE, but exchanging directly on Polygon, you will not need all this stuff..
So, the first thing is the address for wrapping HIVE to pHIVE... You can find it here: https://wleo.io/hive/
Just enter your Polygon address and amount that you want to wrap and click TRANSFER... It will create a transaction and HiveKeychain will popup... In a nutshell, it sends HIVE to @p-hive, with your polygon address as a memo...
The next interesting address that you could need is the "transaction explorer" for pHIVE / POLYCUB pair and you can find it here: https://dexscreener.com/polygon/0x29f13baded9ade12acc4069a8ffeef95146b8bc9
On the right side menu, somewhere in the middle, you can find something like this:
If you click on the COPY icon in the pHIVE field, you will get the pHIVE token address which you will maybe need to add to your Metamask, or to Pancakeswap when you want to exchange tokens to/from pHIVE!
As this pool is fresh-fresh, there will be a lot of arbitrage possibilities, so the above address could be a great start to notice those things... If you like to do arbitrage trading, that will be your starting point... As liquidity isn't yet built up, the volatility will be huge...
Because of that, be aware when you are exchanging from one asset to another... The slippage can be bigger than expected, so maybe you can wait between exchanging bigger amounts...
You can find additional details about the pHIVE launch in the official post here
Thank you for your valuable time,
ph
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