VVS Yearly Emission Halving and 2022 Year Review
VVS Finance is reaching its ONE-year anniversary! Therefore, VVS 1st yearly emission halving will take place from 9th Nov 2022!
As we are coming to the end of the year, we would also like to have a recap of our important launches in 2022 and what’s coming up in the next few months. Thanks for all your love and support to VVS; there is still a long journey to run with you guys!
VVS Yearly Emission Halving
VVS 1st year emission halving will start from 9th Nov 2022!
As specified in our tokenomics, $VVS token adopts an emission model, where emissions will be halved every year (i.e., 50 trillion in the first year, 25 trillion supply in the second year, and so on).
When VVS inflation decreases by half every year, we achieve 2 key objectives:
- Rewarding early adopters of VVS with a greater share of VVS revenue as emissions decrease over time
- Strengthens the unit economics of VVS as supply tapers off, resulting in scarcer and more sustainable tokens
Outside of that, halving cycles is an important milestone event! As with the case of the most iconic halving cycle in crypto, Bitcoin — halvings and their resulting supply tapering could also result in stronger overall token economics for VVS.
Token distribution will remain the same as below:
Due to the emissions halving, available Farms and Mines APRs and $VVS rewards will be affected, please review the latest rewards and APRs on our Crystal Farms and Glitter Mines pages, and apply your best farming/mining strategy!
What we’ve achieved in 2022 🎉
At the time of this release, VVS Market Cap maintains a Total Value Locked of ~$448 million even in these turbulent times thanks to our strong community. From the on-chain records, the number of VVS farmers keeps increasing, with ~40,000 active users using swaps, supplying liquidity, depositing in vaults, etc. Most encouragingly, the majority of our vault users are committing to the 4-year vault!
Initial Gem Offering (IGO) enables new projects in Cronos Ecosystem to raise funds, drive community growth, and bootstrap initial liquidity in an end-to-end process.
VVS Launchpad hosted 5 IGO in 2022, including Single Finance, VersaGame, Argo Finance, Ferro Protocol, and Minted Network. We will continually deliver value and flexibility to both the project team and community participants.
Flash LP provides users with a quick way to supply LP in simple clicks, skipping the lengthy process of swapping and creating LP. Simply insert the token amount you want to invest or the LP amount you desire; Flash LP will help you obtain LP tokens and easily stake in the corresponding Crystal Farm.
As VVS always aims to promote DeFi trading in the simplest way, this feature is a great start for users to take part in supplying liquidity and earning rewards.
3. Integrations with 3rd parties
Limit Order is an integration with Gelato. The feature allows users to set orders to buy or sell a cryptocurrency at a specific price. A buying order can only be executed at the target price below the current market rate; A selling order can only be executed at a target price above the current market price.
With this feature, users will have better flexibility and efficiency in this 24–7 market. Allowing you to better manage your assets’ risks and portfolio with less effort!
VVS also provides services to protocols, such as Defira. In the Defira kingdom, VVS will act as the main router, powering the astute coin changer, Tupack, to enable seamless token swaps in-game. This integration aimed to merge DeFi and GameFi closer together, adding the DeFi primitives (e.g. DEX, liquid staking, lending) inside a GameFi metaverse.
4. VVS Dashboard and Analytics
We all care about data and numbers.
On the Dashboard page, you can easily review your current positions in farms, mines and vaults with respective APRs; your total deposits and total platform yields; and harvest rewards with simple clicks.
On the Analytics pages, we want to provide more transparency of details for $VVS and $xVVS, where you can see the market cap for both tokens, VVS liquidity, trading volume, VVS:xVVS ratio, daily buyback and etc. You can also see the top tokens/pools’ performances in just a second.
xVVS is VVS Finance’s yield-bearing governance token. You can only get xVVS by staking VVS. As we consistently spend a significant portion of our profits that are generated from token swapping on buying back VVS and adding them into the pool, the price value of xVVS will gradually increase over time compared to VVS.
You can deposit your xVVS in xVVS vaults to earn VVS without any impermanent loss. Apart from it, after locking into vaults, you will be eligible to boost available farms APRs through VVS Staking Utility V2.
VVS Staking Utility V2 is a way to receive extra farming yield by locking xVVS into the vaults and staking your lovely VVS miner moles! There are 7 available farms to boost at the moment, with NFT staking, the total max. boost multiplier can be capped at 3x (xVVS vaults multiplier caps at 2.5x without NFT staking). The longer period and the higher the amount you stake in vaults, the stronger boosting multiplier you get.
In case you are interested in the whole mechanism, we have this detailed explanation on docs for users to understand how to calculate the boost multiplier, what is boost factor, and a step-by-step guide to follow. If you have any questions, do raise them on our official Telegram and Discord for clarifications! We are happy to listen and make improvements.
Miner Mole is a collection of 10,000 utility-enabled PFP. Each Miner Mole represents a membership pass to exclusive privileges on the VVS Finance platform, including boosted farming rewards, VVSGotchi, and access to our future projects.
After the successful launch of the Miner Mole collection, we saw a significant amount of molefam joining our community and supporting each other. We love to have you all around and see you sharing your moles. Again, we are committed to bringing greater NFT utilities to the molefam:
VVS Miner Moles staking for extra yields
Holders can stake their VVS Miner Moles and earn boosted yields on two crystal farms of their choice.
Gateway to VVSgotchi
VVS Miner moles holders can use their PFP as a privilege pass to participate in our VVSgotchi game, in which you can earn extra rewards while enjoying the game.
Cronos Ecosystem NFT Boost is an NFT staking feature that allows us to bring more exciting collaborations with different Cronos NFT collections to VVS, like the Argonauts collection from Argo Finance! The idea of ECO NFT staking is similar to VVS Staking Utility V2: by staking specific Cronos NFT(s) to our partner’s farms, holders of various Cronos NFT collections will receive more rewards and greater utility of their NFTs!
We embrace different projects within the Cronos ecosystem and strive to grow together. Therefore, we are always keen to look for more awesome projects and collaborations for our community!
Upcoming Initiatives 🚀
We constantly review and respond according to changing market needs, and here are the upcoming excitements which are worth taking note!
VVSgotchi
Coming soon: Dec 2022 — Jan 2023!
VVSGotchi is an extension of our Miner Mole NFT project where you can raise and earn Experience Points (EXP) for your Miner Moles. The game will provide greater utility to our Miner Moles NFT collection and encourage broader usage of VVS various features (e.g. swapping, xVVS vaults, LP staking).
Miner Moles holders will be able to participate in various quests, keep their Moles healthy, and compete with each other for a higher ranking on the leaderboard. The aim of the game is to rank as high as possible versus your peers — the result is that you will get a stronger NFT boost factor and earn higher APRs on the available farms.
Our team is full steam ahead toward the game, and we know our Molefam is excited about it! Stay tuned to our social media and we will release more info in the coming weeks!
How about the other items in the 2022 roadmap?
To better cater to the needs of our community and adapt to the ever-changing crypto market, we continuously review the priority and urgency of our product developments and launches. In order to provide higher returns and stronger utilities of our NFTs, we chose to prioritize the launches of xVVS vaults, VVS Staking Utility V2, and ECO NFT staking this year. Also, we decided to release our first VVS Miner Mole collection and VVSgotchi gamification this year to provide a more fun trading experience and more ways for our users to enjoy higher APRs on VVS.
Regarding the features that are not yet released, such as VVS Referral System and VVS Voting Governance, they are not forgotten! We would continuously and closely observe the market situation, the maturity of our protocol, and the needs of our community to prioritize those items with our upcoming 2023 initiatives so that VVS can provide products that are perfectly tailored to the desires of our community and the market.
Backlog / Researching / Ideas (2023 TBD)
- VVSgotchi Breaks Into the Metaverse
- VVS Education Centre
- Stablecoin Swap integration
- Auto Farming / Re-Staking Optimization
- Cross-chain tokens swap and support
- And more to come!
All of us at VVS Finance would like to say we are immensely grateful for the love and support we have received. VVS will continue to grow and develop more exciting features and products for our community. Stay tuned to VVS social media for more good news and updates!
