THE MOMENT YOU ALL HAVE BEEN WAITING FOR — CORD’S OWN DEFI PLATFORM!
Friends, this moment marks the beginning of a very new and exciting chapter for our fellow CORDians, in a project that has already grown leaps and bounds, yet will grow to still more dizzying heights. The pools, the rewards, we got you gentlemen!
Let me brief you folks first about VACC our new reward token, then we will talk about CORD’s new DeFi staking pools we have worked on and tested rigorously, and importantly, were forked from a previously audited code base.
First to VACC. Unlike other reward tokens, VACC is deflationary, yes you read that right! VACC had an initial total supply of 1.9 million, or only 100:1 vs. CORD which is already low, but by employing a “buyback and burn” mechanism to maintain an approximate 100:1 ratio (and thus protect CORD-VAC-LP holders from dreaded impermanent loss), the total supply can only drop further over time and never be minted. In fact, as of the time of writing this article, we have already burned 100 VACC in pre-launch tests! These can never be restored. Verify the current total supply of VACC any time (and see the correct contract address) at https://etherscan.io/token/0xb84E55c7e55F71b446b30FE40E79FF76f108edCd. In addition, the amount of new VACC tokens released from our escrow each week to fund the pools will drop steeply every single week, all of which helps to put positive pressure and a floor under VACC.
But that is not the end of the tokenomics in place with the goal of protecting the VACC:CORD ratio! We have also designed our pool rewards to this same end. The first pool is the base pool, CORD -> VACC. This pool offers the lowest yield however it is the simplest pool to use and presents no risk of impermanent loss. Then we have the CORD-ETH-LP -> VACC pool, which will offer investors a higher APY/WPY (initially double the base pool) as it does require pairing your Ethereum with CORD. Finally, the CORD-VACC-LP -> VACC pool offers the highest APY/WPY (initially four times the base pool!). This gives investors something concrete to do with their VACC earned in other pools. And by the way, in all three pools, by staking higher amounts you can earn a 20, 50 or 100% multiplier on your rewards per token: threshold amounts for each pool are listed on the pool interface itself.
Alongside offering CORD-VACC-LP stakers the highest APY/WPY as described in the section above, we strive to protect liquidity providers from suffering impermanent loss by keeping the CORD:VACC ratio pegged as closely as possible to 1:100. For more details about our tokenomics designed for this purpose, refer to our medium article, THE ECONOMICS OF VACC AND THE WAY FORWARD! Finally, it bears mentioning that the tokenomics behind VACC have been carefully designed by our experienced and professional mathematicians and statisticians; this is something very few DeFi projects offer. The great minds behind this unique active buy back and burn mechanism as we like to call it, will strive to maintain the value of VACC, and in turn protect the value of CORD and the overall project. By exercising our tools protecting against impermanent loss, investors may stake for the very highest rewards with greater peace of mind: the CORD:VACC ratio may bounce around a little as any token pairing can, but if/when it gets too far out of whack we will whack it right back! with our unique toolkit designed for this purpose, and over time, there will be fewer and fewer VACC in existence.
What might be coming in v2 of our pools? Sneak peak for you: besides optional liquidity locking for higher APY, there will also be a tiered VACC hodler’s bonus (extra reward multipliers just for hodling, without the need to “spend” your deflationary VACC) for all our DeFi pools including partner pools, and more, so stay tuned.
So, with all of that said, what are you waiting for? GET STAKING, AND HODL THAT VACC!