VIP 7 Result: YFV Swap Deadline on 4th Nov 2020, Vault Fee Adjustments

Image for post
Image for post

There were 776 voters who participated in VIP 7. We would like to thank the community for actively discussing and participating in the voting.

  1. YFV/VALUE Swap Deadline and Seed Pool v2 End Date

VIP 7 concluded with the deadline to end support for YFV at 8.5 days from the end of the vote.

As a result, Seed Pool v2 will be closed on 3rd Nov 2020, 15:37:00 GMT+0 (due to the end of seed pool v2 epoch). We will remind farmers on our website as well as on social media to exit Seed Pool v2 before the deadline.

12 hours after Seed Pool v2 is closed to give seed pool farmers enough time to convert their last farmed YFV, YFV will no longer be supported within the Value DeFi ecosystem. [4th Nov 2020, 03:37:00 GMT+0]

The vote on VIP 7 also concluded that 1.36 months will be the fund retrieval period for depositors who miss the deadline. That means if anyone who missed the deadline above will have his next chance to retrieve the fund by 23rd Dec 2020.

2. Value Vault Fee Adjustment

The vote on VIP 7 sets the new Value Vault performance fee at 13.96%. We round it up to 14% for the sake of simplicity. The fee might be subjected to change with a new governance vote due to market condition. This new fee will be updated for Value Vaults by 24th Oct 2020 14:00:00 GMT+0

3. Value Liquid Swap Fee Distribution Adjustment

The vote on VIP 7 concluded that 33.55% of swap fees on Value Liquid will go to Governance Vault stakers. This update will be live on Value Liquid by 24th Oct 2020 14:00:00 GMT+0

Image for post
Image for post

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