VaporFi Monthly Roundup: Feb 10th

VaporFi
6 min readFeb 10, 2023

Hey VaporFi Fam,

2023 is here and we’re kicking off the new year with a focus on partnerships! At VaporDEX, we recognize the immense value that strong partnerships bring, especially in today’s market conditions. Not only do they provide opportunities for mutual growth, but they also help bring visibility to VaporDEX.

In addition to our partnership efforts, we are making steady progress on our development roadmap. Our dev team is working tirelessly to bring our vision to life and deliver on our commitments. Next up, liquid staking!

Here’s what we’ve been focused on…

Genesis

The Genesis Pool is coming to a close, it’s time to celebrate the transformative approach to community token fair-launches that this community has taken and participated in — and prepare for a post-Genesis world!

What’s Next?

Here’s what’s coming up for the VAPE token, it’s holders, and the community at-large:

  • Final Community Valuation for VAPE Established
  • Claim VAPE from Genesis Pool
  • Creation of a VAPE-USDC Liquidity Pool on VaporDEX
  • Swapping for VAPE opens on VaporDEX
  • VPND-VAPE Liquid Staking
  • VAPE-USDC Staking (to earn DEX fees)

Community Valuation Established

Once the Genesis Pool locks and no more VPND can be added, the community will have successfully established an initial community valuation for the VAPE token. The USD value of all VPND surrendered during the event, divided by the 420K VAPE token reward pool is the cost to acquire the initial supply. If the community creates a liquidity pool for anything less than this value, they will be incurring a loss.

VaporFi Labs has published some documentation and formulas to help the community understand the role of this initial valuation, and how it leads to the initial market value. You can read more here: https://medium.com/@VaporFi/introduction-to-genesis-9297abe39de5

VaporFi truly wants to share the amount of community control within this launch. The success of $VAPE is in your hands, and there are multiple options with how $VAPE tokens can be used once Genesis ends.

Claim your VAPE

Once the Genesis event ends, participants will be able to claim their VAPE on VaporDEX. When you claim your VAPE, it is immediately transferable, allowing you to move it freely between wallets.

Creation of a VAPE-USDC Liquidity Pool

VaporFi Labs cannot create the initial liquidity pool (that could be construed as a token sale and put us in regulatory crosshairs), but we can add to one that has already been created. VaporFi Labs will be adding our own liquidity to the first VAPE/USDC pool that the community creates on VaporDEX. Please note the pairing stated here — we will only be adding liquidity to strengthen a VAPE-USDC pair, and only one that is native to VaporDEX.

The first community member to create a liquidity pool gets to set the initial market value of VAPE! This is done by a community member depositing VAPE tokens and an amount of USDC into a new pool on VaporDEX. The amount of USDC paired with the VAPE is what determines the initial value.

Since creating the first LP will be such a significant milestone, the team wants to assist with ensuring the price is set accurately according to the estimations created. If you are set to get a large percentage (based on Genesis), and are interested in creating the LP, please reach out to Renegade by creating a service ticket in our Discord.

Realistic valuation is important, valuation too high will result in selloffs, valuation too low will result in the initial liquidity providers and Genesis participants losing value.

We are recommending that LPs focus on VAPE-USDC. Pegging VAPE to another non-stable token introduces risk of tug-of-war volatility. If VAPE is paired with a token that is “stronger” in terms of perception and demand (e.g., AVAX), that token increasing can result in arbitragers quickly selling off VAPE for the stronger token — creating sell pressure, and then swapping back for VAPE once the stronger token has starting trading sideways.

NOTE: Liquidity Providers will not be incentivized with more VAPE — but will receive rewards through Stratosphere when we move into its beta phase.

Swapping for VAPE on VaporDEX Begins

With a liquidity pool established, the community can now begin swapping their VAPE for other tokens (sell pressure), or begin swapping other tokens for VAPE (buy pressure). This is the start of trading volume for VAPE, and also represents opportunities for VaporDEX to generate additional swap fees.

If the price of VAPE increases, it will create more value for VPND which will help VPND demand. If price of VAPE falls, it may impact value perception of VPND as well. It’s important that VAPE maintains healthy value perception. It’s in the community’s hands to protect the value integrity of the token as VaporFi Labs continues to rollout new value experiences and utilities that leverage VAPE and VPND.

Development Updates:

A brand-new VaporFi website is on the horizon. The new site will serve as the central hub for all our products, connecting you to the entire VaporFi ecosystem. As we progress with our roadmap and continue to expand, you can expect regular updates to keep you informed and up-to-date.

We’re also excited to share that $VAPE claiming and liquid staking are the next priorities on our roadmap. At VaporFi, we’re known for our unconventional and innovative approach, and our liquid staking model will be no exception. It will feature a unique tokenomics design that sets it apart from other models. Keep an eye out for an upcoming in-depth article where we’ll delve into the details and share our vision with you. Stay tuned!

Partnerships

Lastly, we’re excited to share updates on our partnerships in the works. These partnerships align with our mission to cultivate mutually beneficial relationships and bring value to our community. We’ll be sure to keep you updated as these partnerships progress, and we’re excited to see the impact they’ll have on VaporFi and the wider ecosystem.

Blind Horse Winery:

We rounded off the year 2022 with a special milestone — the celebration of our one-year anniversary! To commemorate this momentous occasion, we collaborated with our friends at Blind Horse Winery to create the first-ever NFT-labeled collector’s wine. If you missed out on the chance to own one, don’t worry — you can still place an order by visiting the following link: https://theblindhorse.orderport.net/product-details/1116/The-Bored-Ape-Collectors-Edition

Bourbon N Blockchain:

Bourbon-n-Blockchain Services is a membership based club dedicated to supporting and strengthening blockchain technology. They have released 10,000 unique, utility driven, collectible NFTs that provide rewards to holders. As part of their roadmap, they will be providing liquidity to VaporDEX, and pointing a validator node towards our subnet in the future. Find out more here: https://bnbsclub.com/#the-ecosystem

Devour

Devour is getting ready to release the DevourGo marketplace: The food ordering marketplace connecting the Web3 world. Stratosphere members will be recognized on this platform and will receive discounts and promotional offers through the various restaurants onboarded onto the marketplace. Learn more about our partnership: https://medium.com/@VaporFi/vaporfi-x-devour-344628015d8a or check them out here: https://devour.io/

Cryptolids

Cryptolids is an e-commerce site by our very own Vapor Guide, Ardent! The site features all of your favorite crypto hats and beanies, and Stratosphere members get 10% off! Order here: https://www.cryptolids.com/

MechAvax

MechAvax is a collective storytelling NFT that is using multiple systems to incentivize and reward participants in the ecosystem. Core gameplay loops include PvE, PvP, and a TCG (trading card game) aspect that gives added depth to combat. Stratosphere holders will receive 10% discount on mints, and a future airdrop of SHK tokens. Mint yours here: https://mechavax.com/

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VaporFi

Home of VaporDex and VaporChain, building DeFi for the people! Website: https://vaporfi.io Discord: https://discord.gg/QFq92Ddc