Image for post
Image for post

The purpose of this Medium article is to outline key components of the newly released vToken Whitepaper. For a more complete view of the system, the Official vToken Whitepaper can be referenced at: Whitepaper Link


Image for post
Image for post

Summary

Following the MultiStables Vault Exploit Post-mortem https://link.medium.com/syV3D7uV4bb, we will create a compensation fund which will be funded by a combination of the dev fund, insurance fund and a portion of fees that are currently generated by the protocol.

Motivation

We propose some changes to the fee structure as follows:

Increase vault performance fees to 20% and receipt from swap fees to 50% (previously was 14% and 30%)

Then, we consider two options on how the fees go to the compensation fund:

1) 30% of all profits (with the new above fees) go to the compensation fund (exactly 6% of…


Introducing vUSD and vETH

Image for post
Image for post

Note: This article represents a snapshot of a work in progress for the upcoming rebase decentralized lending platform. All the descriptions in this article are subject to change at anytime. We invite the community to refine these ideas with us to make a better platform.

Digital assets pegged to a stable asset with elastic supplies are a fundamentally new paradigm in the world of decentralized finance. These assets work by pegging a token to a price feed with pre-defined “rebasing” rules. …


Image for post
Image for post

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.

★ Vaults-as-a-Service.


Image for post
Image for post

New Released Features

★ Composite Vaults. Read more below.

Future Features : Read more here

★ 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.

★ Vaults-as-a-Service.


Image for post
Image for post

In light of the recent flash loan exploit on our previous oracle mechanism, we have engaged multiple security experts to find a solution for securing the ValueDeFi protocol. After many focused discussions and weighing the different options, we found Chainlink to be the best oracle solution that provides a sufficiently robust and tamper-resistant price oracle solution capable of mitigating flash loan attacks.

The MultiStables Vault relaunch will utilize Chainlink Price Feeds for all supported stablecoins to ensure our oracles maintain round the clock market coverage across all trading environments. This removes our exposure to temporary flash loan-induced price distortions that…


Summary:

The ValueDefi MultiStables vault was recently the subject of a complex attack that resulted in a loss of user deposits. What follows below is a post-mortem analysis and a description of proposed actions to mitigate economic impact on the community.

The Incident:

On Nov 14th 2020 at 03:36:30 PM UTC, a hacker performed a flash-loan exploit on the MultiStables vault of ValueDeFi protocol, which resulted in a net loss of roughly 6mil$.

The new vault uses our new code of vault v2, which had not been audited.

Our Solidity lead dev has provided a summary of the attack that…


Summary

Current VALUE emission is 1.45 VALUE per blocks as follow:

  • 0.25 VALUE/block for three v1 vaults (WETH, ETH/USDC and ETH/WBTC UNI LP)
  • 0.20 VALUE/block for governance vault
  • 0.60 VALUE/block for 2 liquidity pools WETH/VALUE and vUSD/VALUE
  • 0.20 VALUE/block for USDC/VALUE 60/40 FaaS pool
  • 0.20 VALUE/block (scale up to 1 VALUE/block) for MultiStables Vault

At the time of writing, we have around 433k VALUE left as incentives. At the current emission rate, we will have around 45 days left for reaching the cap of a total of 2.37mil VALUE.

There’s a need to redirect the current emissions to more valuable…


Image for post
Image for post

Summary

  • New MultiStables Vault of ValueDeFi could absorb 100mil$ TVL with only 14% decrease in profit, an 34% improvement over other vaults.
  • Auto-reinvest feature is included to squeeze out maximum additional yield
  • Multiple strategies are calculated in real-time
  • VALUE incentive based on TVL to ensure high and fair APY for everyone.

Motivation

One of the biggest hurdles in the vault industry is maintaining APY as the value of assets in the vaults increases. It’s hardly a problem when the equivalent of a few million dollars are deposited in a vault, but when funds increase, the return generally suffers.

For example…


YTRU case summary

The Yield Trust (ytru.finance) project contacted the Value DeFi team via Twitter when we first originally announced the availability of our Farms-as-a-Service product. YTRU launched their FaaS pool WETH/YTRU 50/50 at start block https://t.co/L7tPCcu7lF?amp=1 . Since we did not have a GUI for the creation yet, we helped the YTRU team create their FaaS pool and set the governance address to their address for post-deployment, a standard procedure that took less than 5 minutes our time. (Note: anyone who understands coding could have followed the same steps without our intervention). By design, the governance address of the…

Value DeFi Protocol

Bring True Value to DeFi — https://valuedefi.io

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store