Vector Becoming DeFi Hub on Avalanche
Vector Becoming DeFi Hub on Avalanche to expand their protocol and provide value to their VTX lockers over the following several months.
They pursue that goal on three different fronts:
- Become more independent: expand their strategies to be less reliant on other protocols
- Continue building on top Trader Joe and Platypus and their ve-token models
- Research other ve-tokens or similar mechanics to add on to Vector
Autocompounding
Becoming the DeFi hub on Avalanche requires going beyond their ve-token concept. Vector will soon have autocompounding pools.
Start by autocompounding Vector’s pools. After launch, customers may deposit in a manual or autocompounding pool. These autocompounding pools regularly swap rewards for the identical assets customers invested and compound them back into the initial deposit. These “set and forget” pools will provide consumers additional freedom, stickier TVL, and new administration costs to the locked VTX pool.
Locked VTX when they autocompound Platypus and Trader Joe pools, they’ll also autocompound locked VTX! Locking VTX will automatically compound awards. The delegated pool and delegate rewards will also be autocompounded. The genuine concept of “set and forget” in a dynamic market.
After building the autocompounding framework for their own pools, they’d be foolish not to apply it to other Avalanche pools! Autocompounding in other pools will improve Avalanche’s DeFi hub.
Advanced, automated strategies
You’ll eventually see them developing more complex and automated techniques for Avalanche. The best protocols will be used in these strategies which will vary depending on the mechanism and aim to maximize user rewards. These will need more investigation and intricacy, but they often provide greater rewards.
Liquidity Book Vaults
Trader Joe recently released a game-changing addition to their DEX — liquidity book piqued their interest. After its release, the team has been collecting data to find out how to give automatic strategies for their users.
veJOE and Vector
Trader Joe veJOE updates. Most JOE emissions will shift to veJOE when this new version launches. This JOE will help Avalanche protocols with token liquidity. veJOE holders will vote on new farms and how much JOE benefits they get. With almost a super majority of veJOE on Avalanche, Vector is sure to become a central DeFi hub for these ecosystem projects looking for liquidity.
Platypus Bribes and USP
Vector continues to develop on Platypus Finance and has the most PTP. As the leading staker of PTP and vePTP owner, they gain substantially from Platypus advancements. Their “Delegated Voting” pool allows locked VTX holders to earn additional APR simply for voting (not including locking APR). They continue to increase bribery, Platypus incentives, and protocol utilization with their partners.
Vector will be able to leverage USP by minting against their users’ deposits, and they’re researching how to maximize value. Imagine being able to mint against your LP deposit and earn on Vector with boosted yield. USP is a capital-efficient innovation. We’re excited for its release and Platypus’s future.
Aggregating new protocols
Finally! Avalanche’s blue-chip tokens benefit their users as they accumulate them. They are actively monitoring the market and have identified at least one new protocol they expect to start accruing soon. They increase Vector’s revenue and benefit the DeFi ecosystem on Avalanche.
About Vector Finance
Vector Finance is the number one yield booster on Avalanche. Incentivize conversion of JOE and PTP on their platform, accrue ve-power on those protocols, and pass that on to their users. Vector is the top owner of vePTP and veJOE on Avalanche.
About Avalanche
Avalanche network is the blockchain industry’s quickest smart contracts platform digital asset. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
SOURCE: https://vectorfinance.medium.com/a-roadmap-for-becoming-the-defi-hub-on-avalanche-d63ac9848cbd
