VestaX.Finance™
We are truly DEFI / DAO and share 50% of any revenues with you.
With us, your voice is heard and your vote counts.
1. Introduction
VestaX.Finance™ is a community driven liquid staking DEFI service provider for MultiverseX.
VestaX.Finance™ allows users to stake the native EGLD token and earn
staking rewards without locking assets. Staking through VestaX.Finance™ will allow users to unlock the staked EGLD tokens, making them a spendable asset.
The protocol will earn as a Staking Agency from the staked EGLD Collateral, 10% from staking revenues, and 20% from the total fees generated on the DEX. (to be revised on a yearly basis through the VestaX™ DAO).
Staking the native token while having it “liquid”, creates a situation where higher EGLD staking percentages would effect an overall higher network security, while allowing capitalization of said locked assets, which wouldn’t have been previously possible.
Staked EGLD represents a locked asset, which can be unlocked through VestaX.Finance™. Users who stake EGLD through VestaX.Finance™ get spendable vEGLD according to the Ratio of vEGLD/EGLD in the Liquid-Staking SC, termed the Liquid-Index™.
Having a free and liquid asset, to use anytime without loosing EGLD staking rewards, will unlock a never before seen amount of liquidity for users, further empowering the economy of MultiverseX™. This will be a range of services from providing DEX Aggregator services, to minting synthetic stable coins, etc. (e.g. minting synthetic stable coin by staking vEGLD).
VestaX.Finance™ will not only offer liquid staking services, but also DEFI services.
2. Goals
VestaX.Finance™ aims to allow users a more efficient use of their capital, by rewarding them with liquid EGLD (vEGLD), when staking for the MultiverseX™ Protocol,
without loosing staking Rewards (which are built in the Liquid-Index™).
VestaX.Finance™ offers users more freedom and flexibility for their funds, rather than staking manually with staking Providers.
Invaluable goals that VestaX.Finance™ aims to achieve:
- 01. Allowing users to earn staking rewards without locking their liquidity.
- 02. To use vEGLD as a building block for other entities and other decentralized applications and protocols (e.g. collateralized lending, stable swap, liquidity pool yield farming and other DEFI solutions).
- 03. Allow users a more efficient capital usage via liquid staking assets.
- 04. Create a plethora of other derivative assets as well as an algorithmic synthethic stable coin.
- 05. Unlock untapped liquidity from illiquid assets to boost trade and economy in MultiverseX™.
3. VestaX.Finance™ Liquid NFTs
VestaX.Finance™ will be offering 7000 SFTs in 3 categories: Gold, Silver and Bronze - priced between 0.5 and 1 EGLD.
Liquid NFTs will act as governance Token in the VestaX.Finance™ DAO, as such their owners will decide on proposals and future developments of the VestaX.Finance™ DAO.
Funding received through the NFT sale will be used to cover development costs, maintenance, and marketing, but mostly to empower the Staking Agency that operates behind the curtains, generating profits from staking for the protocol.
To make the vEGLD token useful, an ecosystem will have to be created around it, and VestaX.Finance™ will attempt to create this ecosystem, spreading its usage as wide as possible (e.g. Listing it on other DEXes and/or CEXes).
4. Architecture
- 01. vEGLD, VST Token, VST NFTs
- 02. EGLD Staking and vEGLD minting (immediately) by the Liquid-Staking SC
- 03. EGLD Withdrawal and vEGLD minting (10-11 days Duration) by the Liquid-Staking SC
- 04. EGLD/vEGLD Liquidity Pool (to be added at a later date) for immediate vEGLD to EGLD conversion, (bypassing the 10 days Duration for a fee)
- 05. Vesta X Token for Platform incentives (name and functionality in Q1 2023)
- 06. Future EGLD-vEGLD-LP/vEGLD/VST Valuation via multiple farming opportunities (e.g. synthetic algorithmic stable currencies, OUROBOROS, etc.)
VestaX.Finance™ consists of several parts:
Profits Distribution
VestaX.Finance™ will make Profits from:
- • Running the Staking Agency.
- • Reserving 10% from the staking revenues.
- • 20% from all fees generated on the DEX.
This Profits will be distributed:
- • 45% to the 7000 Liquid NFTs (5% to Company)
- • 50% to Demiourgos.Holdings™
4.1. Stake Deposit Flow
To stake EGLD with VestaX.Finance™, users will send EGLD to the Liquid-Staking Smart-Contract, and in turn will receive the equivalent vEGLD, depending on the current Liquid-Index™, representing the ratio between vEGLD/EGLD.
The vEGLD/EGLD Ratio also known as Liquid-Index™ is dependent on the total staking rewards incurred through staking. Liquid-Index™ starts at 1.000, and begins to grow as Epochs elapse and staking rewards are generated.
This example depicts a Liquid-Index™ of 1.200, meaning you get 83.33 vEGLD for depositing 100 EGLD:
vEGLD Claiming
vEGLD is undelegated in the Staking Contract once the users unstake their EGLD.
Unstaking EGLD from the Liquid-Staking SC will not release it immediately, but after an unstaking period of 10-11 Days, just like unstaking from a Staking Provider would happen.
The quantity of EGLD released depends on the amount of vEGLD selected for unstake and on the Liquid-Index™ at the time the unstaking was executed.
4.2. vEGLD/EGLD Pool
At a later time, the vEGLD/EGLD Pool will be introduced, where users can add liquidity by pairing vEGLD with EGLD.
This pool will allow immediate conversion of vEGLD to EGLD, without waiting for the unstaking period, in exchange for paying volume fee (yet to be determined) for this privilege.
VestaX.Finance™ may add multiple farming opportunities in the future regarding the vEGLD-EGLD-LP Token, yet to be envisioned.
5. Tokenomics
vEGLD will be a limited supply Token, more valuable compared to EGLD unit for unit, because of its autostaking nature. As such, its quantity will be smaller compared to the quantity of EGLD staked in the Liquid-Stake Smart-Contract, and therefore far smaller in supply compared to the total EGLD supply.
Minting amount when staking EGLD
for vEGLD will always be determined by the Liquid-Index™.
Day 1, or the 1st 24 Hours will be the only time where users will be able to stake EGLD in the Liquid-Stake Smart-Contract and benefit from the lowest possible Liquid-Index™, thus getting the highest amount possible of vEGLD for their staked EGLD. Staking rewards will compound and the Liquid-Index™ will grow, making vEGLD value in EGLD grow on a permanent basis.
6. Roadmap and Future Utilities
Running VestaX.Finance™ Validators
Expected APR of the initial version of Liquid staking is roughly 8%.
The APR of the validators is around 13% so validators and delegate providers take around 5%. If we run our own validators, we can increase the APR of Liquid staking up to 10%.
Increasing APR from 8-10% is a big deal for liquid staking users.
The APR of the validators is around 13% so validators and delegate providers take around 5%. If we run our own validators, we can increase the APR of Liquid staking up to 10%.
Increasing APR from 8-10% is a big deal for liquid staking users.
DEX and CEX Listings
Listing on decentralized exchanges is crucial for giving vEGLD a large exposure. The more users engange with vEGLD, the more robust the protocol becomes. Our goal is to unlock a large untapped liquidity in the MultiverseX™ Blockchain and for users to freely spend and utilize the value of their assets at the same time getting rewards for staking.
Centralized exchanges (Binance, Coinbase, Kucoin, Coinzix) are also on the list of priorities once token volume is large enough.
Centralized exchanges (Binance, Coinbase, Kucoin, Coinzix) are also on the list of priorities once token volume is large enough.
Team
The creative people behind Demiourgos.Holdings VestaX.Finance™
