Value DeFi Protocol

Sep 5, 2020

1 min read

Governance Vault

We are excited to share with YFV holders the latest development update from our team.

While waiting for the much-anticipated Value Vaults to be stress tested in multiple environments and for the results of the audit, we have exciting news for you in the meantime.

We present to you the latest application of vaults in the defi space, enhanced governance vaults. These vaults combine the power of YFV governance and yield farming strategies.

The YFV Governance Vault will be a replacement for the recently launched Stake Pool v2. YFV holders can deposit their YFV into the new governance vault and then receive vUSD, vETH and shared profit in YFV from upcoming Value Vaults.

However, there is a small change that will bring tremendous value to YFV stakers. The YFV deposited will not simply sit in the pool as idle capital, but will also be used to farm other protocols for yield. The profits will be used to buy back YFV and distribute them among all YFV stakers in the governance vault. All stakers in the new YFV Governance Vault will maintain the same voting power as is in the current state of stakers in the current Staking Pool v2.

Launch:

Closed private beta of governance vault will be open for invited partners on 07-September while waiting for auditing results. Public launch will be 10-September.

Process:

YFV stakers in stake pool v2 will have the choice to migrate their stakes to the new governance vault with as little gas fees as possible.