Gravity Vaults Launch
Today we are proud to officially launch the Gravity Vaults. We appreciate everyone’s patience while we packed in a bunch of new fee handling options to further benefit GFI holders into the future.
Our Vaults can manage fees in one of the following 2 fee handling modes:
- Send to Fee Manager
- All non-GFI fees collected are sent to the Fee Manager (50/50 WETH, WBTC).
- Fees collected in GFI are burned.
- Send to BuyBack Manager
- All fees are sent to the BuyBack Manager.
- Non-GFI fees are converted to GFI (GFI bought on market).
- The accrued GFI remains in the Buyback Manager and can be either burned or repurposed later in new farms or other promotional activities.
Initially all Vaults will be set to mode 1 and we will take on community feedback on how and when to implement buybacks.
We can now set a Global Fee handling mode and a fee between 1% and 5%. Each individual vault can also have it’s own unique mode and fee rate.
Vaults also have an access level of Public, Tier 1, Tier 2 or Tier 3. This allows us to deploy vaults for specific GFI tiers with unique fee handling methods and rates.
As previously discussed, we plan on launching some advanced vault strategies over the coming weeks and months, both fixed and dynamic in nature. We will also be deploying exclusive vaults for GFI Tiers very soon.
The vaults launching today (v2 farm compounders) are rather simple in nature compared to what’s coming, but they have a few very specific intentions:
- Offer GLP farm compounders with low fees to allow a maximum amount of liquidity to flow back to our liquidity pools. All GLP compounders will be set to a low 1% fee (on rewards only).
- Reduce the amount of sell pressure on our token when compared to other compounders. GFI collected in fees will be burned instead of sold like some compounders.
What’s Next ?
Over the coming week/s we will start rolling out more advanced strategies that will offer much higher APYs and next level strategies unseen before. These will include some high revenue-generating strategies to supercharge the fee earning capability of our platform.