Explainer: How ...
Explainer: How Degen Vaults Work
1. What are Degen Vaults?
2. Who is it For?
3. Immediate Launch Details
Vision for Degen Vaults is to create a Yearn-style platform for yield-farming strategies using LunaX (and other complementary assets).
Each vault is a combination of a smart contract and a strategy associated with it. Strategy is set by a strategy manager who is skilled at developing yield farming strategies.
Strategies can have different characteristics including APR, Risk levels, time locks, static/dynamic strategy etc.
Degen vaults can be used by any crypto user from a beginner to advanced. It helps simplify the discovery of opportunity and execution of yield farming on LunaX.
Stader aims to solve the above problems by creating a strategies platform called Degen Vaults. Anyone will be able to develop a strategy and create a vault (if governance approved) in the future.
Degen vaults will be launched in two Phases, with the first phase going live early March.
2. All user deposits are locked for a period of time (Eg: 1 month).
3. Strategies which are a predetermined set of functions will be performed on the deposited LunaX to earn additional yields* during the Lock-in period.
4. Once the lock-in period is completed the additional yield is distributed across users & users can then unlock their funds.
Watch out for the V1 Launch.
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