VyFinance December Update

4 min readJan 14, 2023

Intro & Summary

Hello and welcome back to another instalment of the VyFinance monthly update. We hope everyone had a great holiday season and is starting the new year with bang! While the team took a well-deserved break over Christmas and New Years the progress and building never stopped. In December we:

· V2 vaults released

· Twitter spaces

· Development reached some massive milestones

This Month in VyFi

Last month we were thrilled to release our V2 vault contracts. These new and improved vaults are run entirely via smart contract and allow the staking of non-VyFi NFTs and tokens on our platform. Along with the launch we were privileged to release four debut vaults (see at the bottom of the page for some images of the community pages set up for our V2 vaults):

Ibilecoin, See more here: https://ibilecoin.com/

Vault Page link: https://app.vyfi.io/vaults/ibilecoin

“IBILECOIN ($BLC) is a token deployed on Cardano. $BLC is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. It utilizes Cardano proof of stake [P.O.S] to algorithmically stabilize its reserve currency ($BLC), facilitates programmable payments, and opens financial infrastructure development. and also let holders access the basic Defi function by earning 6.57 % compounding interest on their holdings.”

NMKR, See more here: https://www.nmkr.io/

Vault Page link: https://app.vyfi.io/vaults/nmkr

“With NMKR, you can use the full power of Web3, blockchains & NFTs to create amazing decentralized apps, NFT collections, and more. All of this without worrying about the complexity of interacting with the Cardano, IOTA, or Ethereum blockchains. We focus on the tech so that you can focus on your product. NMKR offers the most accessible and flexible tools like APIs to mint NFTs on Cardano.”

Kirkstone, See more here: https://www.kirkstone.io/

Vault Page link: https://app.vyfi.io/vaults/kirkstone

“Our mission statement is to significantly reduce the cost of residential and vacation renting to reduce the financial barrier to real estate investment. In addition, another aim is to make a substantial impact to the homeless by utilising a significant portion of the KIRK vesting structure as well as donations from the Kirkstone Ecosystem.”

ROBOROBO, See more here: https://roborobo.gg/

Vault Page link: https://app.vyfi.io/vaults/roborobo

“ROBOROBO is a collection of unique randomly generated 3D robot NFTs. Each ROBOROBO comes with a random set of traits & weapons that set the overall strength factor for the ROBOROBO NFT. Your ROBOROBO NFT can battle other ROBOROBO NFTs to win $ROBO tokens. The higher your ROBOROBO strength factor, the higher the probability of winning battles.”

We also had the huge pleasure of opening a $VYFI/$DRIP vault!

DripDropz, See more here: https://dripdropz.io/

“DripDropz provides token dispensing services to the Cardano community. An intuitive platform that offers projects a comprehensive selection of distribution parameters. We welcome projects of all sizes into the Drip ecosystem. Delegates reap the rewards of DripDropz by providing the ability to withdraw a variety of tokens while remaining delegated to a community pool.”

Twitter spaces last month were great as always with fantastic conversations in the company of old and new friends in the space:

· https://twitter.com/i/spaces/1mnxeRPqaQWKX?s=20 — DeSpace and VyFinance CEO, Steven Ward speak about CEXs and self-custody.

· https://twitter.com/i/spaces/1ZkKzXoVlWdJv — We had the pleasure of hosting BlueShift on our Twitter Space to talk about their Cardano Index (of which we are a part of!)

· https://twitter.com/i/spaces/1MnxnpjbqQjGO — Ibilecoin & RoboRobo joined us to talk everything V2 vaults!

Before we go lets touch on development for the month of December. We released a series of teaser videos showing the backend including :

· Starting a Liquidity Pool — https://bit.ly/3GQ63Tr

· Adding a liquidity transaction/being placed and processed — https://bit.ly/3iq8G57

· Swapping ADA for VYFI — https://bit.ly/3k7efG8

· Swap Order, from ADA to VYFI — https://bit.ly/3X1KXqO

As well as this we:

· launched v2 vaults on Mainnet

· Finished BAR development and minor tweeks

· Continued to work on liquidity pools, as well the as the integration with the BAR (post MVP)

Thanks for checking in, once again a massive happy new year from the team. Its hard to believe we have been building in the space for two years already but with out a doubt 2023 will be the biggest yet! Look after each other and we’ll see you next month for the next update.

CommunityV2 Vault Screenshots: