The long awaited release of the vaults is finally here, launching at 5:00 pm UTC. A limited amount of rewards ($200K) will be available, paid out in APYS at the current rate of the vault’s unlock. After the rewards budget is expended, you will still be able to create vaults, however, no additional rewards will issued.
BNB (native), WBNB, APYS, CAKE, USDT and BUSD tokens can be locked in our vaults.
3 locking periods will be available:
- 3 months, reward 7% of the locked assets (which is 28% APY)
- 5 months, reward 15% of the locked assets (36% APY)
- 9 months, reward 27% of the locked assets (also 36% APY)
You can move tokens or BNB to the vault by a simple transfer. Vault’s total value will be expressed in USD equivalent, using the current exchange rates of the locked assets. Then you will be able to select the time period and lock your vault, while reward will be fixed in USD.
For example, if you put 10 BNB (300 USD per BNB) and 1000 APYS (3 USD per APYS) into the vault, vault’s total value will be 6000 USD. If you choose to lock it for 5 months, you will be rewarded with 900 USD.
Rewards will be paid out in APYS when the vault is unlocked, using its current exchange rate.
When the vault is locked, you can transfer a share of the vault’s ownership to other people. They will gain access to the share of vault’s liquidity and reward.
Consider the following situation, Alice has created a vault, described in the example above, and transferred 30% of the vault to Bob. When the vault is unlocked, Alice will be able to withdraw 7 BNB, 700 APYS and 630 USD in rewards. While Bob will be able to withdraw 3 BNB, 300 APYS and 270 USD in rewards.
There will also be an option for emergency vault unlock, but only if you own 100% of the vault. You will be able to get your liquidity back, but any rewards will be lost.
In the future, this tech concept beta will evolve into a fully-fledged instrument for portfolio managers, who will be able to provide specific combinations of LP, YF other tokens and even NFTs, transferrable to other parties.
Vault shares trading will occur at our marketplace, powered by Solana blockchain. Users will be able to trade the vault shares, while the assets within the vaults remain locked in staking, lending or pooling. When the shares are traded, they retain the benefits provided by locked assets and do not suffer the penalties tied to lock-up periods, making our vaults more flexible than other financial instruments.
IMPORTANT NOTICE: Please transfer only the supported assets to the vault. If some other asset is deployed, you will be unable to withdraw it manually. However, we set up a maintenance period of 100 days after the end of the program. Then, our support team will be able to withdraw this liquidity for you.