Currently, we are focused on building our community organically and creating a high value-added protocol before thinking about tokens and governance.
Once we finish with Protocol development, we will share our plans for the token.
Early Users of the Protocol will be rewarded with an airdrop.
What are the receipt Tokens or shares?
Once you have made a deposit, the Vault transfers you back the receipt tokens representing the amount of your investment. These receipt Tokens are ERC20 and do not grow over time.
What grows is the price per share which represents the underlying amount of Tokens that can be redeemed back from these shares.
Why do I have less receipt Tokens than money aI deposited?
This receipt Tokens grow over time since the inception of the vault, and represent how much money has been created by the Vault.
When you deposit funds into the vault, you are getting tickets that have a value higher than 1. This tokens will keep growing in value so when you decide to remove the funds you will get more money than you deposited.
So as long as you are no the first person to deposit funds into a vault, you will always get less receipt tokens than funds you are depositing. The later you deposit funds the higher the value of the receipt tokens and the less tokens you will get.
What's the utility of the receipt Tokens?
Currently to redeem back your deposits plus the interest accrued.
In the future, as they are ERC20 and represent interest bearing collateral we should be able to use as collateral to borrow something for example.
Is there any deposit or withdrawal fee?
No, none of these fees are applied to our Vaults.
Is there any locking period before withdrawal?
No, full withdrawal of funds is available right after deposit.
Why are the Vaults capped?
The main reason is safety. This adds another mechanism of security against flash loans attacks.
How often are rewards distributed?
Normally on a daily basis. Once a harvest is done, the price per share increases during the next 6 hours.
Does the APY displayed include fees?
The APY shown in the Dapp is always net APY. In other words, is the APY that the user gets.