Degen Vaults Be...
Degen Vaults Beta Launch: Starter Pack
Stader is back with another exciting product called ‘Degen Vaults’, to open up the limitless opportunity of LunaX in DeFi for the Terra Community! Read on to learn more about the mechanism, underlying strategy and the launch plan.
The Terra ecosystem is growing exponentially with multiple innovative protocols going live every week. LunaX aims to be a core asset across Terra and this opens up a plethora of opportunities to earn additional yields on LunaX.
Degen Vaults will be a platform that provides #Lunatics access to DeFi strategies on LunaX designed by crypto degens. Learn more about Degen Vaults here.
Safety & Security of users’ funds is of utmost importance to us. Hence we are doing a guarded Beta launch which means:
LUNAtic pioneers who would like to join us on this journey to build the LunaX Degen Strategy platform can start depositing their LunaX into the first vault on 7th April from 4pm UTC.
The first vault is built in collaboration with Y-Foundry DAO who power the underlying strategy.
The strategy leverages LunaX as collateral on Mirror to mint mAssets. This mAsset is then swapped for UST which in turn is leveraged as deposit on Anchor.
Here’s How your Degen Vault Works:
We will be sharing a detailed blog article with the user guide and product screenshots soon.
What Will the APY be for the V1 Vault?
As the product is in Beta phase, for the first vault, we have chosen a low-risk strategy with a short Lock-in period of 30 days.
The vault is expected to have a LunaX APY of 8–10%* ( 4–5%* APY from the underlying strategy & 4–5% APY by Stader covering the mAsset minting fee as the vault has a short duration). The above APY is in addition to staking rewards APY on LunaX.
* Returns on the vault are subject to market risks & can vary based on changes in Luna price & mAsset volatility. Stader doesn’t guarantee returns.
Post the Beta Launch, we will add multiple vaults that offer more investment choices. This would mean:
Watch out for more details & join us on the journey to supercharge returns on your LunaX!
If you would like to partner with Stader & be a Degen Strategist, please apply on the link here and our team will get back to you with the next steps.
Join Stader’s newsletter
Get the latest updates, new DeFi strategies and exclusive offers right in your email box