Intro & Summary
The end of the year has come round very fast and what an exciting time it’s been! VyFinance through the month of December have added new vaults to our NFT staking (now users can earn Flickto tokens), and with our NFTs gaining more popularity than ever we have been able to reach a huge milestone of over 1 million USD in NFT value locked! In addition, our NFT staking process has been streamlined so users no longer are required to manually send the dust/NFT, now all you need do is simply click stake and let NAMI do the rest.
This Month in VyFi
December has also been a period for setting up essential components for the future. Our token swap is live and users can now swap their V1 VyFi for V2 VYFI. This was done as the ability to make tokens on Cardano came long before smart contracts. That being said, airdrops, ICO, and giveaways require something, so we gave a V1 Native Token, this was before the decimal function was known, now however our V2 token is fully equip with its proper 6 decimals. The function of swapping is very straight forward, users need only connect their wallet and if they hold V1 tokens in a NAMI wallet they will be prompted to change over, if your tokens are held elsewhere a “token swap” button can be found in the top right-hand corner of our App, here users can will be provided with an address to send their V1 tokens. A comprehensive guide on how to complete the token swap can be found on here: docs.vyfi.io. Additionally coming shortly is the imminent release of our VyFi staking pools in January. The pools will operate by users staking VyFi and in return earning another token (much alike syrup pool on Pancake Swap).
Furthermore, just around the corner is the release of the much-anticipated VyFi/Adax NFT! This limited collaboration NFT will have total supply of 750, 100 of which will be put aside for the VyFi community through a whitelisted raffle, 50 reserved for marketing and giveaways while the rest will be available for purchase through our platform. Staking vaults will also be present for 1 year from the launch, users who stake their VyFi/ADAX NFT will earn both ADAX and VyFi.
VyFi Development
On a more technical note, our engineers have been hard at work with our pools and bar on the test net. They too have nearly finished constructing token vaults for VyFi staking (to be migrated to pools once live). Also, under the hood we’ve also intensely been testing the PAB, and working on on-chain optimization which allows us to run smart contracts more efficiently.
Overall December has been full of challenges and triumphs, we now boast over 10k followers on twitter and each one of our social platforms grows by the day. January looks to be the biggest month yet for VyFinance and we can’t wait to show everyone what’s yet to come!
