VVS Finance 2021 Year in Review and 2022 Roadmap Preview
2021 has been an exciting year for us over here at VVS Finance! We as a community have accomplished a lot in the short span of two months and have seen a massive growth of both new and experienced DeFi users choosing VVS Finance as their platform of choice on the Cronos Chain! Thank YOU for spreading the word and getting our name out there! We are truly humbled by all the support.
With so much we have done in this short amount of time, let us provide the community a short recap on what we have accomplished in the year 2021 and the plans we have for a greater 2022!
2021 Year in Review
VVS Finance Officially Launched!
At our launch, we set out with the goal of bringing amazing protocols to the masses and simplifying the complex DeFi space for everyone. We were humbled by the overwhelmingly positive reception that we received from the community, and we believe we are on the right path to making DeFi Very Very Simple!
$500 Million TVL Crossed in a Week!
Never in our wildest dreams did we expect to pass such a huge milestone in a little over a week; the amount of support and trust that community has placed in us is truly humbling.
VVS Token Listed on Both Crypto.com App and Exchange
It was a proud moment for us to see the VVS token being listed on not only the Crypto.com Exchange but the Crypto.com App as well. Kudos to both the VVS Finance and Crypto.com team that made this possible!
Opening of IGO Applications
Our hotly anticipated Initial Gem Offering (IGO) feature was subsequently launched, and applications opened to upcoming projects! We have spoken to a number of projects these last few months and are happy to announce Single Finance will be our first IGO!
Learn more about our Initial Gem Offering mechanics here and the upcoming Single Finance IGO here.
Our First Partnership — Beefy Finance
December saw us launching our first-ever partner Glitter Mine and Crystal Farm with the folks over at Beefy Finance, veterans in the DeFi and Yield Optimizer space, it was truly a pleasure to work with them and we look forward to many more partnerships with various projects in the future!
Miner Mole NFT Collection in Partnership with Crypto.com NFT
Everyone loves our Chief Mining Officer — Miner Mole, so we thought, why not share our Mining in Chief with everyone through the Miner Mole NFT collection! Shoutout to the Crypto.com NFT team; now we all can own a unique piece of VVS history!
$1 Billion TVL Crossed!
Shortly after surpassing $500M TVL, we crossed another major milestone, $1B TVL! Huge thanks to everyone that continues to support and believe in us!
Our Second Partnership — Tectonic Finance
Hot off the heels of our first partnership, we launched our second partner Glitter Mine and Crystal Farm with Tectonic, an exciting new project on the Cronos Chain providing decentralized non-custodial algorithmic-based money market services.
Community Feedback
Along the way, we received a ton of amazing community feedback on how we could better improve the platform; some of the great suggestions that we have implemented are:
- Live VVS Price in Mobile View
- Percentage Selector on the Swap page
- Dark Mode!
- Multi-Currency Support (USD, GBP, EUR)
If you have any feedback on how to improve the platform, keep them coming! We are always open to suggestions.
VVS Finance Christmas Event
Being the season of giving, we ended the year wanting to give back and say a huge THANK YOU for all the support we have received. This culminated in a slew of Christmas events and competitions we had planned along with some attractive prizes! Not only did we find who were the best Secret Mole Hunters, we also uncovered the Memelords and received some amazingly creative feedback from the community as well!
Let us also not forget the amazing Christmas Snowball Battle event where we saw who were the best traders in our midst. We saw 27.35K users participating with 75.01K trades made amounting to over $141.54M! We hope you had as much fun as we did!
Breaking Records in Market Cap, Liquidity, and Volume
Lastly, the growth we have seen in these two months has truly been humbling, from breaking over $200M USD Market Cap, Liquidity crossing $1.29B USD, and our highest trading volume so far of $270.85M USD we could not have done it without our supportive community.
We have accomplished so much in the short span of two months and we hope you will continue to grow with us as we head into 2022. With that being said, we have a lot planned for 2022 and wanted to give you a behind-the-scenes look at our product roadmap as we embark on this journey together. We are incredibly excited to put new features into your hands and add even more value and utility to VVS.
Please also understand that the DeFi market moves and shifts rapidly. We are an agile team, so please expect a degree of pivots and reprioritization based on the market forces and community feedback.
In the following roadmap, we will outline the major releases for 2022.
More details, mechanics, and instructions will be shared in advance of each product launch!
2022 Roadmap Preview
Phase 1 (Q1 — Q2)
Smart LP Removal
Set a condition/ratio target to remove your LP tokens to help you mitigate or even neutralize impermanent loss. Only if the target is reached, we remove the LP and send you the desired output tokens. You even keep earning yields while waiting for your exit strategy!
Why:
- If you remove LP tokens when the ratio of the two tokens is different than when you originally added the liquidity, you will likely incur some impermanent loss.
- We allow users to easily set the removal target to their original deposit amount, meaning if the ratio is reached and your LP is removed, you will incur no impermanent loss, and you keep all the rewards you accrued. Fortune favors the patient!
Pool/Farm Performance Insights
All the information on the farm performance you ever wanted and will ever need.
Why:
- Deposit amount, deposit price, value/price changes, impermanent loss, 1 LP token value, LP earnings, ROI, and more!
- Data points will be added gradually, but we want to keep true to make information easy to access and transparent.
Flash LP
One step to go from one single token to provisioning liquidity to VVS, obtain LP tokens, and easily stake in the corresponding Crystal Farm.
Why:
- Making DeFi yield farming more accessible to new users and continuing our journey of simplifying DeFi.
- This feature can be used at a protocol level if partner platforms want to offer simple farming to their users on their interface.
VVS Multi-Rewards Farms
Designated Crystal Farms will yield multiple rewards tokens. VVS + partner tokens!
Why:
- VVS users will be able to earn multiple rewards; what is not to like?
- Partner projects can have additional ways to open a VVS farm and bring visibility or incentivize liquidity for their project.
Introducing the xVVS token
Maximize VVS earnings; stake VVS receive xVVS, which entitles you to a share of the platform trading fees. xVVS will be a yield-bearing governance token complementary to the existing VVS token.
Why:
- VVS Buyback: a percentage of platform swap fees will be used to buy back VVS from the market and added to the xVVS pool. This will constantly increase the price of xVVS compared to VVS.
- Reduced Selling Pressure: there will be more incentive to stake VVS and xVVS for the long run with the revenue sharing mechanism.
- Maximized Earnings: we will also launch an xVVS Super Farm to stake xVVS and farming with no impermanent loss!
- Governance Preparation: xVVS will be the VVS governance token and your voice in the future of the platform.
Phase 2 (Q2 — Q3)
VVS Voting Governance:
Gradually hand over platform governance for community proposals and voting based on the share of xVVS ownership.
Why:
- A community-driven project has always been our goal; this will allow VVS users’ voices to be heard in a tangible manner.
VVS Referral System
Bring a friend, and you will be both rewarded!
Why:
- A virtuous cycle of bridging more users to VVS and increasing the platform value for all!
- The system will be flexible and configurable to incentivize desired behaviors during different referral campaigns.
VVS Union Club:
Offer tiered platform benefits and rebates for VVS Holders across the platform.
Why:
- Give additional utility to holders of VVS and reward the long-term supporters.
- Incentivize increasing the amount of VVS to reach the following tier benefits
VVS NFT Collection
Adopt your own Miner Moles!
Why:
- VVS Miner Moles, besides looking fab, will have platform utilities and enhance your VVS experience.
- They will be integral to the VVSgotchi (read below) game which is powered by VVS and is designed for engagement and fun!
VVSgotchi GameFi:
Adopt, pet, and nurture your own friendly Miner Mole. Play to earn, win, or heck, just have fun.
Why:
- We want VVS to be fun and engaging; what better than bringing our miner moles to life?
- Actual mechanics and scope for the launch version will be shared once confirmed! Expect VVSgotchi to be an ever-evolving game with new updates and mechanics each season!
Backlog / Researching / Ideas (Q4 TBD):
- Locked Staking With Higher Tier Yield
- Limit Orders
- Stablecoin Optimized Curve
- Full-fledged NFT Marketplace
- VVSgotchi Breaks Into the Metaverse
- NFT Staking
- Auto Farming / Re-Staking Optimization
All of us at VVS Finance would like to say we are immensely grateful for the love and support we have received and can’t wait to bring our plans for 2022 to fruition. We look forward to a greater 2022 as a community!
