I have a very negligible amount of liquid POLYCUB and some staked vexPOLY on INLEO's DeFi project Polycub. I entered the pools two years ago when POLYCUB was worth $1 if I'm not mistaken. My holdings were worth a little bit more then, but the price of the token dropped a lot, thanks (but no thanks) to the bear season for making them almost worthless today, lol! Not blaming anyone though, it was a risk I was willing to take when I invested.
Anyway, I wanted to see if it was possible for me to effortlessly follow the steps mentioned in the "How to Convert CUB/pCUB to LEO" post so I took it upon myself to test it out.
👉STEP 1: Unwrap pLEO thru the Leo Bridge.
I only had 1.64 pLEO in my MetaMask wallet and decided to try and unwrap it. Surprisingly, the transaction went through successfully with no error whatsoever.
I was expecting to come across some error, to be honest, since my previous experience unwrapping bLEO the other day kept failing and I ended up swapping my CUB to BNB because I ran out of patience, lol!
Anyhow, the LEO (minus the unwrapping fee) was credited to my Hive-Engine wallet after a few seconds which is nice. Kudos to the InLeo team for making it error-free even with the smallest amount of LEO being bridged (unwrapped).
I seem to have read we should send no less than 3 pLEO for a successful process so it made me wonder if I was just lucky with my transaction. Then I visited the post again and realized that I misread it.
"Wrapping at least 3-5 LEO" it said, and "unwrap at least 1 bLEO (or pLEO)" so yes, the amount was enough since I was unwrapping. But if you're sending LEO from your Hive-Engine wallet to your BSC or Polygon wallet, you should send (wrap) at least 3 LEO for the transaction not to fail. That's how I understood it anyway.
👉STEP 2 Burning POLYCUB
This is pretty simple, I just opened my MetaMask wallet making sure it was on Polygon Network. Clicked on POLYCUB, then the Send button, entered the burn or null address (0x000000000000000000000000000000000000dead), clicked on "Max" for the amount, and approved it on my MM wallet. The transaction was confirmed in a short while.
👉 STEP 3 Filling Out the Google Doc
After burning the POLYCUB, it was time to fill in the required details on the G-Form provided by InLeo. It took me just a few minutes but had to do some final checking to make sure the all information was correct before clicking on the Submit button.
And yep, it was done and I will just wait for the LEO to be sent to my Hive-Engine wallet. Maybe they need to manually check things first.
Also, I have locked vexPOLYCUB and it will unlock approximately 109 days from today. Khal mentioned in one of his video clips that there's a process for this and it is going to be manually done through Discord where we would have a "good faith agreement" submitting our Hive and wallet address, etc. There wasn't any formal announcement about it though.
Summing Up
- So far, I had a smooth experience unwrapping pLEO (from my MetaMask wallet to Hive.
- Was able to burn POLYCUB without any issues.
- Filling up and submitting the Google form didn't take much time.
- Now waiting to receive the corresponding LEO in exchange for the burned POLYCUB.
- I still have locked vexPolyCUB and looking forward to the formal announcement on how to go about it.
Screenshots from LeoBridge, MetaMask, GDocs and Hive-Engine. No copyright infringement intended. 28032024/20:20ph
Posted Using InLeo Alpha