Chainswap Exploit: DVG to DVD Final Plan
Dear DAOventures community,
Today we gladly announce that the $DVD pending rewards and DVG on BSC will be dropped to your DAOvip DVD account in the form of vipDVD.
It includes:
- DAOvip gas fee reimbursements
- DAOmine pending rewards
- Defi-Wizard gas fee reimbursements
- DAOvip early bird promo
- BSC 1:1 upgrade
- Uniswap LP reimbursements
Total reimbursement amount: 496,894.5 DVD
Please go to https://app.daoventures.co/stake-dvd and check your vipDVD balance. You have the option to swap it to DVD in DAOvip.
DAOvip allows users to deposit DVD and get vipDVD as a reward. Let’s dive deeper into how vipDVD works
What is vipDVD?
vipDVD is an ERC20 token that you receive in exchange for staking DVD tokens on DAOvip. The vipDVD token is always worth more than a DVD token and will appreciate the worth as DAOventures generates more revenue on the platform. The concept of vipDVD is similar to xSUSHI tokens, which you receive in exchange for staking SUSHI tokens in the Sushibar.
Every time a user stake DVD token to the DAOvip pool, vipDVD tokens are minted based on their share of the pool. The number of vipDVD minted is calculated based on the formula:
minted vipDVD amount =
newly staked DVD tokens * vipDVD total supply / total DVD in the pool
This means that the amount of vipDVD minted decreases every time a user adds DVG to the pool.
That’s why staking DVD in DAOvip-DVD early is instrumental in getting those gains!
Where do vipDVD rewards come from?
DVD Buyback from Uniswap:
DVDUniBot will buy back DVD from UniswapV2, using funds in Community wallet, and then send DVD tokens to vipDVD smart contract. In the future, we will develop more strategies to buy back DVD from other exchanges/swaps.
About DAOventures
DAOventures is a smart multi-chain DeFi asset manager.
DAOventures provides a wide range of automated DeFi investment strategies and helps people manage their DeFi assets so that everyone can enjoy the full benefits of DeFi investment with the click of a button.
