New Released Features: Read more here
★ Composite Vaults.
Future Features: Read more below
★ Improved Vaults.
★ FaaS Phase 2.
★ Decentralized Secured Loan Marketplace. Collateralize LPs, Borrow vUSD! Find out more here.
★ Core Upgrade for Value Liquid to use an external router instead of Balancer’s internal proxy. Estimated savings of up to 70% cheaper gas price!
★ Value DeFi Goes Cross-chain.
The strategy is quite simple, focus on farming BOND and auto-sell the harvest when epoch changes and the rewards become available. The code is based heavily on the Composite vault because the reward mechanism of BarnBridge is similar to Balancer (rewards are claimed weekly at a certain time instead of anytime). We believe we could improve the user-experience of BOND farmers by creating this vault.
MultiStaking Vault, with External Strategy Customization
After doing a lot of market research, we concluded that many DeFi tokens have their own staking pool for their own tokens with some disadvantages:
- High cost in gas for small users to claim the staked rewards and sell it for profit (or restake it for more compounded interest)
- Most staking pools do not have any auto-compounding capability
For example, the MultiStaking vault will:
- Take the DODO token from users as a deposit
- Stake at the DODO staking pool
- Claim the rewards on a daily basis
- Restake for more rewards per auto-compound mechanism or sell the rewards for-profit depending on the user’s choice.
All the above is now fully automated with no gas cost and no action needed for our users.
We will create an easy-to-use community developer interface for the vault to facilitate the addition of new strategies for new staking token.
Post-actions for MultiStables Vault Incident
We have made some progress on the code of the new IOU token. A new VIP vote for the fee structure and the compensation plan according to
will be posted this later week.
Improving MultiStables Vault
We continue to work with the ChainLink security team and Curve team for a solution using ChainLink’s oracle price feeds to prevent price rate manipulation. The solution is currently implemented using some feedback from both ChainLink and Curve teams. After we finish our implementation, it will be reviewed by ChainLink and put under code audit by a reputable auditor. After that, we will reopen our MultiStables vault again and support additional stable coins.
Farms-as-a-Service (FaaS) Phase 2.0
FaaS was invented with the vision of helping projects solve their liquidity and token distribution issues. With FaaS Phase 2.0, we want to create a completely decentralized fundraising platform for new projects; from token creation from scratch for the project owners who wish simple fundraising mechanisms (meaning a project owner could sell a fixed number of the created token at a fixed price) to seed pools for initial distribution and FaaS pools for any desired liquidity mining program. Fundraising will never be easier using our FaaS solution, and new projects can focus entirely on their core business model/ideas while using our FaaS technology to raise funds in a safe, easy, free of charge, and decentralized fashion (no one controls your crowd sale, not even Value DeFi, as the funds are controlled entirely by smart contracts).
There are too many rugpulls nowadays, and in order to protect our users to the best of our ability, we will have to determine a set of rules when creating a token from scratch. If the project owner follows these rules, they will receive an NFT deposited into an account that gives our approval that the project is safe.
We are trying our best to roll-out the next phase of FaaS. In this upgrade, we will have support for deflationary tokens and we plan to slowly roll out new features. New features will eventually include the ability to add new liquidity mining rewards to an existing pool beyond what was specified at the farm launch. This also means an existing pool could have multiple assets defined as a reward.
In the current state, FaaS usage is free of charge. With the launch of FaaS Phase 2.0, when we add new features into FaaS protocol (e.g. the support of deflationary tokens), VALUE holders in the Governance Vault could vote for the newly implemented feature to either be free or be subject to a fee. All revenues from this will go back to stakers in the Governance Vault.
vUSD Lending Specifications
We are working with a few individuals in the community who have strong knowledge of lending and rebasing to finalize the plan. Nevertheless, decentralized lending is a very challenging business and such protocols are more susceptible to attacks and exploits. We want to ensure maximum security to our users before rushing-in. We also welcome the community to read our initial description about vUSD lending (most credits go to Dan Bainbridge and Value Whose) and help us with finalizing it.
Vault v2 upgrade for WETH vault
The WETH vault is currently the only one using v1 code. Once the v2 code is audited, we will upgrade the vault to the new code.
The MultiBTC vault has the same mechanism and code-based as the MultiStables vault. After ensuring the MultiStables vault is running safely, we plan to release the MultiBTC vault.
Core Upgrade for Value Liquid
We will continue to upgrade the core of Value Liquid. The internal proxy of Balancer will be replaced by an external router (like Uniswap), which based on initial estimates, could result in up to 70% cheaper gas fees for our users.
Upgrade Composite Vaults to v2
We redesigned the Composite Vaults using our safe v1 codebase, but there is no auto-rebalancing feature to optimize the APY just like what we have in the MultiStables Vault, and users will have to switch between vaults manually. At the current state of Sushi and Balancer farming, these features are not needed right now since Balancer farming is much more profitable than Sushi but we believe that when more farming opportunities are available (in the near future), both Sushi and Balancer profitability will become very similar, our advantages of auto-rebalancing and multi strategies features will help users catch the highest possible yield in an optimal way. Hence, we plan to update our Composite Vaults to ensure you take advantage of some of those benefits.
Value DeFi will Go Cross-chain
While the future of ETH 2.0 looks bright, we believe that there are many other great layer-1 platforms with communities full of innovative smart contract developers. Our vision is to help farmers and startups to further innovate within the DeFi space and we are committed to supporting the development of other ecosystems as well. We are collaborating with other projects to conduct intensive R&D to port our vaults and FaaS technologies to other platforms in order to achieve a cross-chain initiative. Details will be disclosed as each collaboration is finalized and made public.
ETH 2.0 Staking Vault
This vault will give users the ability to stake their current ETH to the ETH 2.0 deposit contract. Users staking in the vault will be given a 1 valueETH2 token for each ETH they deposit to the vault as proof of ownership. Due to the unique mechanism of the ETH 2.0 staking contract, all ETH tokens of our users will be locked up until the first phase of ETH 2.0 goes live.
We will create valueETH2/WETH and valueETH2/USDC markets at ValueLiquid; which means stakers of the ETH 2.0 vault may still participate in ETH trading even if their ETHs are locked-up.
We are poised to support a new trend in the DeFi landscape. As new projects may need more farming pools, through FaaS additional vaults can be created very easily. For instance, if a project wants to adopt the DForce stablecoin vault strategy currently employed by YFI while adding their own token incentives, VaaS through our platform would make this possible with just a few clicks. The code will utilize the standard, safe strategy templates from many other reputable projects and well-audited from reputable auditors to mitigate risks.
The current state of DeFi is rife with scams and rugpulls. As such, we believe this service will empower many projects to enter the marketplace in a secure and efficient way.