DAOventures, a leading DeFi robo-advisor and automated money manager platform on Ethereum blockchain will launch its DVG staking program called DAOvip this week.
DAOvip allows users to deposit DVG and get vipDVG as a reward.
Let’s dive deeper into how DAOvip works.
What is vipDVG?
vipDVG is an ERC20 token that you receive in exchange for staking DVG tokens on DAOvip. The vipDVG token is always worth more than a DVG token and will appreciate the worth as DAOventures generates more revenue on the platform. The concept of vipDVG is similar to xSUSHI tokens, which you receive in exchange for staking SUSHI tokens in the Sushibar.
Every time a user stake DVG token to the DAOvip pool, vipDVG tokens are minted based on their share of the pool. The number of vipDVG minted is calculated based on the formula:
minted vipDVG amount =
newly staked DVG tokens * vipDVG total supply / total DVG in the pool
This means that the amount of vipDVG minted decreases every time a user adds DVG to the pool.
That’s why staking DVG in DAOvip early is instrumental in getting those gains!
Where do vipDVG rewards come from?
DVG Buyback from Uniswap:
DVGUniBot will buy back DVG from UniswapV2, using funds in Community wallet, and then send DVG tokens to vipDVG smart contract. In the future, we will develop more strategies to buy back DVG from other exchanges/swaps.
DAOventures will also give Early-Bird rewards for stakers who 🥩 with us before July 5, UTC 2PM on top of the rewards given by DAOvip.
The more you stake, the more rewards you can get.
- Stake minimal 1,000 DVG
- Duration: 30 days1
- Special Reward 33 DVG
- Expected APR = 40%
- Stake minimal 10,000 DVG
- Duration: 45 days
- Special Reward 740 DVG
- Expected APR = 60%
- Stake minimal 100,000 DVG
- Duration: 60 days
- Special Reward 13,151 DVG
- Expected APR = 80%
The special rewards will be distributed to your addresses after respective duration periods.
DAOventures is a DeFi robo-advisor and automated money management platform. Imagine “Robinhood for DeFi”. It is our mission to make DeFi simpler, accessible & inclusive. We believe in creating a simpler, more accessible, and more open world that is permissionless, inclusive, and guided by our DNA of continuous learning, integrity, and transparency.