In the last couple of months, our vision of joining different DeFi ecosystems in a single unified marketplace has gotten a lot of attention. Now that our IDO is over and project’s funding is secured, we can concentrate on bringing this vision to reality.
We have a long road ahead of us, but we want to share the progress we’re making with our community. This will help us to see user reactions as early as possible and adjust our plans accordingly.
The first product we plan to release later this month is APYSwap Vaults! (with the exclamation point).
How does it work?
In its core, a Vault is a smart contract. You can create one and use it to store liquidity (for now only a handful of tokens will be supported). And what kind of vault would it be if you couldn’t lock it? Of course, you can! In this version, you lock it for one of the predefined time intervals. One is very brief (to test how the whole process works) and others are longer and also reward you with APYS tokens.
Once the Vault is locked, the interesting stuff happens. It now becomes a transferable asset, just like a regular ERC-20 token. You can transfer part of the ownership of the locked Vault to someone else and they will be able to see such Vaults instantly on their account.
Once the lock interval is over, the Vault is unlocked and you can withdraw liquidity from it. The Vault will calculate the amounts according to your share, burn your share token and send funds to you, the share owner.
What is the point?
In its core, APYSwap Vaults! is a research project. It allows us to test the technical design of tokenized vaults (one of the core concepts in the APYSwap system) and see how easy they are to use. And reward our community with APYS tokens for participating.
We really want to know what you think about the project. To share your thoughts, please email us at firstname.lastname@example.org.
When can we try it?
Currently the plan is to release Vaults! by the end of March. At first, they will be available on one of the Ethereum testnets and, after the security review, they will go to the mainnet.
Meanwhile you can track the development progress on our GitHub account: https://github.com/apyswap.