Once our current VYFI/VYFI staking vault ends, we will be launching two new vaults to replace it. We will be replacing our 16.81% APR VyFi vault with one that offers a 6% APR. This vault will function the same as the current vault on our app, and allow users to harvest at any time. We are implementing this reduction so we can further focus emissions on our farm and reduce the inflation rate of the $VYFI token. This will also further incentivise users to engage with the other tools on our platform, and is an important step to maintaining stability within our market.
We are also aware that there is no strategy for farming $xVYFI without undertaking impermanent risk. It is for this reason we are introducing an $xVYFI vault that will offer a return in $VYFI. All $xVYFI staked in the vault will continue receiving rewards from the BAR for the full duration of the vault.
Our Gold NFT is currently offering an APR of 27.12% (as of 4/7/23). This is inline with our target APR of 30%. As such, we will be keeping the pay-out on our Gold NFTs as is.
The current return on both our Purple and White NFT vaults are above 70% (as of 4/7/23). This is more than double our target APR of 30%. We also recognise that a drop in NFT vault pay-out that is too large (prior to the launch of our NFT farm boosting), can have a very negative impact on our NFT market. For this reason, we are targeting an APR of 60% for the next Purple and White VYFI NFT vaults. By allowing the vaults to maintain a higher than target APR (until our additional utilities for our NFTs are released), we are striking a balance between maintaining value and reducing inflation on our token due to the NFTs.
These changes will be implemented as our current vaults end. Therefore, each of these changes will be implemented at a different time. We expect all vaults to be updated within three months.
If anyone has any further questions regarding the changes, be sure to jump into our socials, such as Telegram or Discord where you can always talk to the team directly.