What sets ACryptoS apart?
Why did you start ACryptoS? How is it different from ###?
I get asked this a lot. This is an answer from ~2 weeks after we first launched: https://t.me/acryptos9/2956
(Aside: It’s amazing that Telegram groups keep all their history. You can still scroll back to when I first launched the platform on 1 Nov to our small group of ~100 members and read everything from before then and all the crazy things that have happened till now.)
So, what makes us different?
Sustainable. Long-term. Safe.
ACryptoS is designed for the long-term farmer/investor who sees value in sustainable tokenomics and an emphasis on safety and careful risk management.
It was an intentional decision not to try and attract the “hot” money chasing the highest yields and latest hyped degen projects. Instead, I wanted to target the “sticky”/“smart” money who were willing to show more commitment to the project, and in return, they get to farm tokens with sustainable value — a stake in the protocol that we share with our users.
We pioneered the concept of the Governance Vault. Only ACS or ACSI that is staked in the Governance Vaults can participate in governance and earn protocol fees and rewards. To incentivise longer-term staking, instead of a timelock, there is a 10% withdrawal fee for Governance Vaults, which is distributed to everyone else remaining in the Vault. Almost all fees are used to buyback ACS or ACSI and distribute them into the Governance Vaults, and these are all done automatically at the smart contract level. We also just migrated ACS Farms to V2 which enables farmers to use their ACS Vault holdings to boost their ACS yields, saving the best yields for ACS HODLers.
(Aside: community member HM built this dashboard showing protocol fees and buybacks)
ACS and ACSI have a maximum supply cap of 1,888,888, with an emissions cut of 18.65% every 90 days.
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times. — Bruce Lee
Practicing one kick 10,000 times
Our Vaults farm only on PancakeSwap, Venus, and just added this week, Swipe Swap.
Why so few? While the 4+ digit APYs of the newest hyped projects can be very tempting, we made a decision not to go down that path. When evaluating a project to farm on, we ask ourselves — where does the yield come from? Is it sustainable? What value is being created by this project? Is there any longevity? When there is no clear answer then the project is likely a pure-farm/ponzi/degen play — we don’t see much value in creating Vaults for those, and they are also inherently incredibly risky. Which leads to the most important reason — SAFETY. When farming on other projects’ smart contracts, not only do you need to audit and ensure your code is safe, you also need to audit and ensure that all the underlying projects’ code is safe. Users should always ask themselves before depositing into a Vault, just how familiar is the dev with the underlying projects’ smart contracts?
When user funds were stuck in PancakeSwap due to the SYRUP exploit, we got ours unstuck in a few hours while others’ were stuck for days.
We had the first Vaults on Venus, more than 3 weeks before anyone else did. Our competitors wrote their strategies based on our approach, yet our code is more efficient and we still achieve ~5X lower gas costs for our users and ~25% higher yields. When low liquidity on Venus resulted in users’ funds getting stuck in competitors’ Vaults for days, ours continued to function normally.
This week we launched Vaults on Swipe Swap the same day their farms went live.
The projects we farm on are the largest on BSC, and are closely tied to or supported by Binance.
More than just a yield aggregator
ACryptoS StableSwap is the first Curve clone on BSC with the lowest fees and slippage for trading stable coins. We pioneered the concept of Governance Vaults which automatically earns protocol fees and rewards. We were the first project on BSC to introduce boosted yields for Governance Vault HODLers.
And there’s more to come. 🙃