VyFinance June Update

4 min readJul 7, 2022

Intro & Summary

Welcome back to the VyFinance monthly update! Let’s get everyone up to date with what’s been happening throughout the month of June:

· We have organized regular Twitter spaces/Discord AMAs for our community and those interested

· Our team attended two amazing events in the crypto world

· We opened new vaults for our community to engage with

· Finally, a date for the release of the much-anticipated VyFinance White NFT has been Confirmed

· We completed and submitted a Catalyst proposal

This Month in VyFi

Last update we mentioned that it was our intention to host regular Twitter Spaces/Discord AMAs to better engage with our community. We have begun bi-weekly Twitter Spaces on Wednesdays at 5PM (1700) UTC, and in Discord on Fridays at 6PM (1800) UTC. Both of these will be in an AMA/Chat styled format. We’ve already had (and plan to have much more!) some guests join us such as Ibilecoin, Apexaverse and Genesis Launchpad to name a few. We encourage anyone interested in learning about new and upcoming projects building on Cardano to come and join in, it’s also a great space to stay up to date and get the latest news with VyFinance.

During the month of June, we opened some great new vaults also, they were as follows:

· Rhodium Coin. See more here: https://www.rhodiumcoin.net/staking

Rhodium is a store of vault token of which only 1 million tokens are minted. Its namesake is inspired by the most expensive precious metal on Earth. Rhodium mentioned on their website — “We strive to make Rhodium Coin as inclusive as it can possibly be, therefore, 400,000 $RHOD (40% of the total supply) will be reserved for delegators to earn by staking their $ADA in our pools”

· Apexaverse. See more here: https://apexaverse.com/

Apexaverse is a unique take on the concept of a Metaverse. Within their vision they intend on building a variety of games, each voted on by the community. Apexaverse have said about their platform — “Apexaverse is a role-playing game with a universe behind it. Platform built on Cardano Blockchain is one of the most efficient ways of bringing together game catalogue with multiple P2E and PVP games, launchpad, token with staking capabilities, NFTs and 3D metaverse.”

· Genesis Launchpad. See more here: https://www.genesislaunchpad.com/

Genesis Launchpad has a clear goal of what they want to accomplish via building their platform. During their time on the VyFinance Twitter space, Bruce from Genesis mentioned that similarly to the vision of Cardano, Genesis strongly believes in empowering those in the developing world who may not have access to existing infrastructure that allows for functions such as KYC. For this reason, Genesis Launchpad aims to be a KYC-less Launchpad that hones in on the core tenets of why blockchain started.

Each of these projects is bringing something unique and exciting to the Cardano blockchain and we strongly encourage everybody to have a look!

This month we also had some team members attend both Consensus 2022 and NFT NYC. In Austin our team was able to rub shoulders with the brightest in Cardano. Consensus really brought out the best in our blockchain and every team mentioned how kind and graceful the community was. From all reports Cardano stole the show and we (as usual) could not be prouder to be part of it! In New York our CIO Jack Kochen was invited to give a talk and host an afterparty! Again, much like Consensus, this was a fantastic opportunity for us to meet and grow our relationships with key members of the Cardano ecosystem.

We have also released the date for the release of the VyFinance White NFT!! This moment has been long awaited by many in the community and (believe me) the team itself! The date has been set for the 21st of July. As mentioned in our various social, media outlets, the first 1500 users that staked in our Token Vaults will be verified for a free airdrop, you can now check if you are verified here — https://app.vyfi.io/airdrop

In other big news, VyFinance has applied for Catalyst funding in the current Fund9. Catalyst provides an amazing opportunity to those building on Cardano to access funding while being transparent and accountable to the community. This we believe allows projects to create the best product possible. Catalyst allows us to show the community exactly why we asking for the funds, how much we are asking for and what we plan to do with it. Please have a look at our proposal here and we would love as much community engagement as possible — https://cardano.ideascale.com/c/idea/421973

Rare Bloom tickets are still up for grabs and it’s just been confirmed Mr Charles Hoskinson will be in attendance! This is a must attend event and is shaping out to be the biggest in Cardano’s history. Make sure When buying Rare Bloom tickets be sure to use the code VYFI10 for a 10% discount!

Lastly, if any members of our community are facing issues in regards to the VyFinance platform, you can access a few different methods of support. They are as follows:

· https://docs.vyfi.io/support (first stop, almost all of our common issues can be address through this document)

· https://twitter.com/VyFiSupport

· Email support@vyfi.io

· Telegram/Discord

VyFi Development

In Development we have been charging through making plenty of progress, some key updates are:

· Completed some upgrades to our v2 vaults

· Finalized our trace/testing on the v2 vaults contract

· Updated and optimized our balancer/other code to build transactions

· Launched our estimator service to get more accurate CPU/memory values for different transactions (this should make our fees as low and optimized as possible)

· Started to experiment with replacing the chain index with blockfrost as needed

Thanks again for joining us in another monthly update and keep a close eye on our social media for the latest in news in VyFinance. Until next time!