Carve HyperVault 1.0
Community Update 01/18
We have been hearing and receiving all your questions asking what we are up to, why it all matters, and how it will compare to other products in the defi space. We hope that this article will help answer a few of your questions and share updates on where we are today.
Our main objective for Carve is and will be to build the best yield farming strategy for users in Defi. Today, we will look to address this with a single vault solution that is platform-agnostic and takes advantage of multiple aggregator/vault products, such as, Harvest, Dracula, pJars, etc. The HyperVault isn’t comparable to something like a yVault; it sits and operates as a layer above these platform strategies and harvests yield while switching automatically to a better opportunity when presented. We call this layer the “Hyper Layer” and this is a key market of Defi which is untapped and has lots of room for growth. Moreover, our product can be defined by two key parts (Vault + Governance). Each being an integral function of the Carve ecosystem.
🔐 Carve HyperVault (C-hVLT)
A Multi-Asset Stable Coin Vault.
Users will be able to deposit multiple types of stable coins and will receive a single type of token in return. The HyperVault token (C-hVLT) will represent the user’s share within all users staked in the vault. The C-hVLT token is a correspondent similar to yDAI used for the yearn DAI vault.
Behind the scenes, C-hVLT will accrue value as HyperVault’s strategy advisor puts the deposited funds to work in the best yield aggregator strategy. This will all be done while pooling gas, which will decrease fees that often eat away at rewards, especially for smaller depositors.
🚇 Carve HyperVault Journey
As newer and better strategies present themselves, our HyperVault will convert users deposited funds into the appropriate asset and deposit into the highest yielding aggregators. For example, the HyperVault may choose to switch from the DAI yVault to the sCRV pJar by withdrawing DAI from the yVault, converting DAI to sCRV, and depositing sCRV into pJar.
When users wish to withdraw their funds, they simply return their C-hVLT to the HyperVault, which will then distribute their deposits plus interest. Users can choose to withdraw into any stable coin once they claim.
💸 Carve Buybacks
Fees generated from the vault will be used to generate Carve buybacks. This will be a huge revenue incentive for our platform and will create not only added buy pressure in the market but will also add additional rewards for our staked Carve users. As well as buy-backs —We will also mint new tokens until the supply cap is hit — so there will be an extra APY on top of the underlying strategies from our buybacks.
📸 Snapshot Governance
As mentioned, we are extremely excited to have launched and implemented our snapshot governance.
- Through Governance new strategies can be voted on.
- Users who hold Carve balance will determine strategies that suit their wants and needs.
More info on Carve Governance can be found in our previous article here.
How to get started with $CARVE today?
You can start depositing LP tokens to the MasterCarve contract using the interface at https://app.carve.finance.
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