Sell your yield ahead of time with APWine Sauternes
With the DeFi ecosystem more active and boiling than ever, farmers who place their funds into lending platforms have witnessed volatile, risky, and sometimes unclear APY.
Ever wished you could sell your yield and stop having to worry about fluctuations?
That day has come.
APWine is a protocol that works by locking your funds and giving you future yield tokens (FYT) in exchange. These tokens represent your yet unrealised yield for a fixed period of time, that you can sell to hedge your risk, or trade to speculate on the variation of APY.
Last September, we’ve released Muscat, the first alpha version of the platform. Today, we’re happy to introduce Sauternes, our new and final version before the Mainnet release 🚀!
In this new alpha version, we’ve integrated the AAVE protocol. You will be able to tokenize your DAI yield on AAVE. Sell it before maturity to hedge your risk, or trade it to speculate on APY volatility.
Let’s get started!
Setup your Kovan wallet
The first thing you have to do is to set up your Metamask wallet to use the Kovan network.
If these don’t work, please reach out to a team member on our Telegram and we’ll help you get on track.
In our Alpha, you will be able to lock aDAI and generate future yield tokens that you can trade or sell at a later stage.
How to get some aDAI ?
First, generate DAI directly in the AAVE faucet by clicking the Dai icon for DAI. Then choose AAVE V2.
Then you will be able to deposit these DAI in the AAVE platform to get aDAI.
Head to the deposit page by clicking on Go to deposit and click on the Dai icon then deposit the amount you want.
After waiting for the transaction to complete, you now have aDAI in your Metamask wallet.
You are all set to start making some wine 🍷!
Enter the APWine interface, connect your wallet and let’s try to make your first blend of wine.
If this is the first time you come to APWine with this wallet, you shouldn’t have anything in your Registrations yet.
Registering to a Future
First, you’ll want to register to a future. Click on the New button.
Then select a duration of time you want to deposit your funds for. You can choose from Monthly, or Weekly.
Choose and click on your desired interest bearing token.
Enter an amount, then press “Approve and Register”. You can also press “MAX” to put your entire wallet balance.
Head back to Registrations. You should now see the amount of registered aDAI. This amount of aDAI will be move to locked when the period begins, for the entire duration of the period and till you manually unlock it. Note that you are automatically enrolled for the next periods of the future.
Tokenising your Yield
When the period has started, your registered funds will become locked and you’ll be able to mint your Future Yield Tokens. To do so, click on the Mint button. As long as your funds are deposited, you can Mint your tokens at each new period, for example, every week if you’ve selected a Weekly period.
From here, you can Unlock your funds or Unregister your funds to get back your aDAI.
Note that unlocking will also remove your future yield tokens for the current period.
Let’s check your Future Yield Tokens. They will now show up here, along with your current generated yield, an approximation of total yield, and an estimated token value.
Once the period you registered for begin, you can see your Future Yield in here:
At this stage, you are free to create the blend you want. You can freely buy, sell, and send your future yield tokens from our dedicated exchange.
When the period has ended, which means your wine has matured, you’ll be able to claim your yield. Just click on the Claim button, and your future yield tokens for the corresponding period will be burnt in exchange for the underlying yield.
And there you have it! Cheers 🥂 !
Now, sit back and enjoy your hard-earned wine 🍷.