Introducing vipDVG — Maximize yield by staking DVG for vipDVG
Introduction
vipDVG is an ERC20 token that you receive in exchange for staking DVG tokens. The vipDVG token is always worth more than a regular DVG token and will appreciate as DAOventures generates more revenue on the platform. The concept of vipDVG is similar to xSUSHI tokens, that you receive in exchange for staking SUSHI tokens in the Sushibar.
Where do staking rewards come from?
DVGUniBot will buy back DVG from UniswapV2, using funds in Treasury wallet or 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.
How much will be used to purchase DVG?
There will be a 0.5%-1% network fee on funds deposited to the DAOventures strategies for operational and development cost.
- Deposit below $50,000 USD = 1%
- Deposit between $50,000.01 USD to $100,000 USD = 0.75%
- Deposit over $100,000 USD = 0.5%
8% goes to Community profit sharing via DVG buyback on Uniswap or other DEXs and shared with users via DVG staking.
Why is my vipDVG balance lower than my DVG balance?
When you stake your DVG tokens, you “purchase” a share of the vipDVG pool. Because vipDVG appreciates in value compared to DVG, the amount of vipDVG you get for your DVG decreases overtime.
About DAOventures
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.
