Revuto Secures Strategic Partnership with VyFinance
Over the past few weeks, we have intensified efforts to establish new relationships with other projects within the Cardano ecosystem and to improve those that we already have. We are confident this will bring multiple benefits to Revuto users and wider exposure for the Revuto project in the Cardano family.
After the last spot in our first REVU/SUNDAE farming pool was filled in record time (just three days after the subscription period started!), we noticed that our community is truly ready for harvest season and a new farming pool.
That is why we are thrilled to announce the launch of our next farming pool to celebrate embarking on a journey of joint effort with VyFinance.
This partnership will start with token staking pools and vaults hosted on both the Revuto dApp and VyFi platform.
Revuto users will be able to stake REVU to earn VYFI tokens in the Staking Center built into the Revuto app, and VyFinance users will be able to stake VYFI to earn REVU on the VyFinance platform. When the VyFinance DEX becomes fully operational on the mainnet, Revuto will also provide initial liquidity for REVU trading pairs.
VyFinance will provide yield farming rewards to incentivize liquidity providers to add additional liquidity for REVU trading pairs on the VyFinance DEX.
This is just the beginning of some things we agreed to work on together, and other things will follow. So you can expect a few more bombs from this partnership in the future. But more about that later. For now…
We want to take the time to tell you more about our new partner. VyFinance is an original interpretation of a DEX and built upon four main pillars.
- First, a liquidity aggregator (Auto-Harvester) where users can come and delegate management of their funds to the Auto-Harvester.
- Second, their Neural Net, a program that teaches itself how to perform tasks and, in this case, will be learning how to optimize liquidity over yield farms.
- Third, the Bar, in which a certain percentage of fees from the exchange and a part of the farm from the Auto-Harvester will be distributed to the Bar (VYFI holders).
- Finally, the VyFinance LMS system ties it all together. The LMS aims to educate newcomers on how to interact with DEFI successfully and safely with the ultimate goal of users engaging with the Auto-Harvester and eventually gaining essential knowledge to use their more traditional DeFi tools such as pools and farms.
- REVU/VYFI Staking Pool Details
This farming pool will have the same parameters as the SundaeSwap pool had. As such, the same rules apply here:
• Staking Pool Hard Cap: 2,500,000 REVU (first-come, first-served)
• Maximum staking amount per user: 100k REVU, (minimum 2k REVU)
• Subscription period: 7 days
• Staking period: 90 days
The subscription period for our fixed farming pool starts tomorrow, 01.03.2022 at 11:00 UTC and will last 7 days until 08.03.2022 at 11:00 UTC.
During that period, investors will be able to stake a minimum of 2k REVU and a maximum of 100k REVU in only one transaction. This means that you cannot stake more than one time. There are no multiple transactions per user allowed. One user = one transaction.
The staking period will start on 09.03.2022 at 11:00 UTC and will last for 90 days. On the day that the staking period starts, APR will be 20%, which can change later on based on the price volatility of both tokens (REVU and VYFI) during the 90-day period.
Note: To be able to send out REVU in the staking pool, you’ll need to have a sufficient amount of 1.7 ADA to cover the transaction fee. 1.44 ADA is the minimum amount needed due to Cardano’s UTXO setup + 0.18 ADA for the transaction fee. You will receive your 1.44 ADA back after your REVU tokens return from the staking pool to your wallet. This setup doesn’t have anything to do with the Revuto Wallet but with existing Cardano blockchain UTXO requirements.
Once you pledge your tokens to the farming pool, they are locked for a period of 90 days. During that time frame, you cannot withdraw your tokens and you can’t harvest rewards until the lock-up period ends. One more important caveat to highlight is that in case we fill up the pool and reach Hard Cap in the first 24h, the pool will promptly be locked and no more tokens can be added.
Please note that users will not receive APR during the subscription period.
More details about the APR can be found in our recent Medium blog post where we explained APR in detail.
In case you missed:
📣 Revuto Tech Talks #5 — Watch the video
🎥 Revuto Deep Dive — Watch the video
❣️ Revuto on Entrepreneur — Read more about unwanted subscription charges
📽 Our first ever Live AMA — Watch on YouTube
💰 Share Revuto — And earn rewards!
📻 UK Radio campaign — Listen to our slot
💫 Unique Revuto NFTs — See all NFTs
🎥 Our co-founder Jos on Cardano360 — Tune in at 38:20
🎂 Our Token Generation Event (TGE) aka REVU Token birthday — See the event
🎙 Cardano live podcast with our co-founder Jos — Listen to the podcast
🧗♀️ Our first teambuilding — See our TB video
To catch up with everything, please FOLLOW OUR channels 🚀
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