It is with great pleasure that we host a $COPI/$COPI staking vault.
This allows users to stake their $COPI tokens for a return in $COPI. Now, $COPI holders on the Cardano Blockchain have the same functionality as users on the BNB chain!
How long do we expect this vault to last?
As the rewards on Binance staking total 600,000 $COPI tokens, the same amount has been allocated to Cardano staking. This first vault has 100,000 $COPI tokens total, with a yield of 3.2%. Depending on how much $COPI we are able to garner into the vault, we may either extend the current vault, or create a new vault with an adjusted yield. You can think of this vault as our first trial run with Cornucopias.
With a total stake of 37.5 million $COPI tokens, this vault would be expected to last one month. As of time of writing (3/6), with the current amount of $COPI staked (approx. 12.5 million), this vault will last for approximately three months. As more is staked, the vaults duration will decrease, but the yield will stay the same.
If you’d like to learn more about our vaults, the article can be found here: http://bit.ly/3ZH1iCf
How $COPI Staking works on VyFinance:
On VyFi, staking your $COPI is very easy:
1) Go to — app.vyfi.io/vaults/copi
2) Connect your wallet
3) Click the ‘Stake’ button
4) Determine the amount of $COPI you want to stake
5) Click ‘Stake’
6) Sign the transaction
Once these steps have been completed, within a few minutes users will see their deposit appear on the vault, and the earnings accumulate on the vault page. Users can harvest at any time, and they will receive their stake and any earned $COPI.
We are excited to welcome the COPI community to our platform. If you have any questions, reach out to us on our socials.
Happy staking everyone!