CORE is the next YFI

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CORE is the next YFI Anonymous Mon Sep 28 20:01:58 2020 No.22898498 [Reply] [Original]

I’ve nearly made it gents. First, Chainlink has been my workhorse. But meme & sushi put me much closer to the finish line. It’s my turn to give back, and boys, this is the project that’s most excited me. We all know DeFi has tons of potential that’s just being wasted by copy-paste scam projects. Yearn almost perfected the whole farming phenomenon, but then their token YFI didn’t entitle holders to any economic incentives - if it had, we’d be seeing $500k YFI tokens by now.

Let me introduce you the next huge thing in DeFi: CoreVault “the first high yield farmable deflationary DeFi token”

First, understand this: IT IS UNRUGGABLE. There are only 10,000 CORE and every single one of them will launch on Uniswap. Second, this liquidity can never be withdrawn (indeed the token contract specifically prohibits any tx trying to withdraw liquidity). So, it is literally impossible for there ever to be a lower price for CORE than it is launching with. The team has no tokens, there was no presale, and there will never be new tokens.

So what are you farming? Good question. By providing liquidity and staking your LP tokens, you can farm CORE. That CORE is not newly minted, it comes from traders. Transactions are charged a 1% fee that goes to the liquidity farmers.

Now here’s where it gets neat. Cvault is going to set up strategy vaults similar to Yearn’s vaults. Unlike Yearn’s, these will directly help CORE holders. 5% of all profits from these vaults (e.g. USDC vault) will go to buying CORE from the uniswap and rewarding the vault participants with CORE. Thus the price of CORE goes up and farmers get 1% of all those purchases. Beautiful.

CORE itself is not the governance token and you cannot stake it on its own. It is half the governance - the other half is eth. You see the LP tokens for the ETH-CORE pool are the governance pool.

https://app.uniswap.org/#/swap?inputCurrency=0x62359ed7505efc61ff1d56fef82158ccaffa23d7

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