Value DeFi Announces Multiple New Features

Value DeFi announced a suite of new products and features including vSWAP v2, a collaboration with Ren, and an upgraded AMM for the Value DeFi ecosystem. To implement these ambitious plans the company will make some significant changes to how it is funded, including the liquidation of its vested development fund.

By
Robert D. Knight
on
May 4, 2021
Category:
BSC News

Value DeFi String of Exploits (Updated 5/8/2021)

The Value DeFi platform has experienced three smart contract exploits resulting in the loss of 20,000,000 user funds. ValueDefi released this Tweet an hour ago, indicating that they are working with PeckShield Inc and Certik to analyze the root cause of the exploit.

Financing Big Changes

To finance the changes which Value DeFi feel is necessary to take the protocol to the next level, the company is making big changes and closing its vested development fund. Although the development fund was always meant to fund improvements to the Value DeFi ecosystem, the team had in fact self-financed project development up until this stage.

Now Value DeFi is reversing that policy as it seeks strategic partners including venture capitalists to enter the ecosystem. The team will swap roughly 600,000 YFV tokens for VALUE. Users of Value should therefore expect to see the total supply of VALUE tokens increase by 600,000. The team then plans to sell around 5% of these tokens to VCs.

Source

vSWAP v2

The biggest development in the ecosystem is the second version of vSwap. vSwap v2 has been designed to generate stronger revenue streams for both liquidity providers and stakers.

The first iteration of the DEX has proved hugely successful, with over $1.5 billion in trading volume just two months after launch making it one of the top performing AMMs on BSC.

Improvements in v2 include:

  • A new fee structure capable of capturing significant trading volume on BSC
  • Automatic connection to any liquidity pool, improving liquidity on the platform
  • Functionality which allows users to add or remove liquidity to a third party DEX
  • Disabled counting of routed volume through Value DeFi, since Value DeFi users do not profit from it
  • Upgraded proxy swap contract increasing revenue for vBSWAP holders

Ren Collaboration

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Only two months after its launch on BSC, Value DeFi continues to progress in the decentralized market. As part of driving that initiative forward, the company is partnering with Ren to create new liquidity pools and integrate RenVM and RenJS. With the integration of these technologies, Value DeFi believes it can bring BTC and ZEC deposits to Binance Smart Chain. Value DeFi promises its users that this system will incur low fees and slippage to maximize potential profits.


About Value DeFi

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The Value DeFi protocol aims to bring fairness, true value, and innovation to decentralized finance. Value DeFi is perhaps best known for its money vaults which focus on maximizing profits, efficiency and user accessibility. Top vaults on the platform include ETH-USDC at 57.65% APY and ETH-WBTC at 38.33% APY.

Closing Thoughts

The rapid acceleration of Value DeFi’s plans is demonstrative of the highly competitive landscape that the Binance Smart Chain has fostered. As the #3 DEX on Binance Smart Chain, the project is already in an enviable position, but in the arms race to provide the best and most complete services in the ecosystem, there is little room for complacency. 

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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.