XB3 Hive
Last updated
Last updated
The XB3 Hive is built to complement the yield generated by Convex, while creating efficiency for the liquidity within Curve.
The XB3 Hive wraps Curve liquidity into fungible, ERC20 equivalent, yield bearing tokens which can be fractionalized and traded. These tokens earn $CRV, $CVX and $XB3 just by holding.
This product is built on top of Curve and Convex, and allows us to tap into highly novel approaches in the stablecoin, lending and liquidity provision sectors. Additionally, the XB3 Hive allows us to onboard TradFi into simple, yet effective, yield-bearing equivalents of Curve liquidity.
The XB3 Hive is a core foundational product that allows us to tap into several opportunistic ideas.
Users who have provided liquidity on Curve.Fi are able to stake their Curve LP or underlying tokens that makeup the pool into XB3, which then deploys this liquidity into Convex, and subsequently back into Curve. When a user deposits into the XB3 Hive, they receive xh Curve LP tokens. This issuance of xh LP tokens enable entirely new ways at looking at existing DeFi markets, to power new approaches previously not possible.
These xh LP tokens are really special in the fact that they earn $CRV, $CVX & $XB3 just by holding. They can be fractionized, and they can be sent to other wallets for them to start earning immediately.
By issuing fungible, yield bearing, pool share tokens - we simplify the tedious process of providing liquidity in Curve and then staking those LP tokens to earn rewards. We take the liquidity within Curve and transcend it into a way more efficient version than it currently is, while earning amplified yield on it. A large amount of the simplicity comes from the Hive vaults depositing features which allow you to start earning CRV, CVX and XB3 by depositing 1 asset that makes up the Curve Pool (or multiple if you choose). We also open the doors to unimaginable implementations in many of DeFi's sub-sectors with our new and improved delegation functions.
Wrapped Curve liquidity has an endless amount of potential!
Users will be able to deposit into the XB3 Hive with Curve LP tokens, or the underlying tokens that make-up the Curve pool.
Eg. In a cvxCRV Curve pool that is listed on XB3 - Users will be able to deposit using $CRV or $cvxCRV tokens, or users will able to deposit using Curve cvxCRV LP.
Users will be able to withdraw from the XB3 Hive in the form of Curve LP tokens. If a user wishes to have their tokens that make up their Curve LP, they will need to withdraw their LP using Curve.fi
XB3 does not accumulate the underlying tokens, but rather passes this revenue onto the people and protocols that utilize XB3, net of protocol fees. Note that all protocol revenue gets distributed to veXB3 holders.
To reiterate - the XB3 Hive is built to complement the yield generated by Convex, while creating efficiency for the liquidity within Curve. A core focus of the XB3 Finance protocol will be bridging the gap between TradFi and DeFi, and allowing them to enter the vastly complex system in a simple to use manner.
