Space Summary
The Twitter Space VYFI upcoming Plutus V3 and more! hosted by VyFiOfficial. Delve into the exciting developments in VYFI's upcoming Plutus V3 release and its innovative features. From DEx and BAR to Vaults, Lottery, and Stakeless Farming, VYFI is reshaping the DeFi landscape with a strong focus on governance and community engagement. Discover how VYFI prioritizes security, enhances user experiences, and stands out through its commitment to innovation and inclusivity. Get ready to explore a DeFi platform that goes beyond the ordinary, offering a diverse range of functionalities to attract a broad audience in the decentralized finance space.
For more spaces, visit the DEX page.
Questions
Q: What makes Plutus V3 significant in VYFI's roadmap?
A: Plutus V3 aims to redefine DeFi experiences with advanced features and enhanced user benefits.
Q: How does BAR contribute to VYFI's ecosystem and DeFi as a whole?
A: BAR (BarToken) plays a vital role in governance, incentives, and value creation within VYFI and the broader DeFi space.
Q: What sets VYFI's Vaults apart in yield farming?
A: VYFI's Vaults offer secure and high-yield farming opportunities, attracting users with diverse risk profiles.
Q: Why is community participation crucial in VYFI's governance model?
A: Community involvement ensures a decentralized decision-making process, fostering inclusivity and sustainability.
Q: How does the Lottery feature in VYFI enhance user engagement?
A: The Lottery feature adds gamification and rewards, making the platform more interactive and appealing to users.
Q: What benefits do stakeholders gain from Stakeless Farming in VYFI?
A: Stakeless Farming eliminates the need for locking assets, providing more flexibility and liquidity for participants.
Q: What role does the Transaction Cart play in VYFI's ecosystem?
A: The Transaction Cart simplifies the DeFi experience by enabling seamless and efficient transactions for users.
Q: How does VYFI ensure a secure environment for users within its ecosystem?
A: VYFI prioritizes security measures such as audits, partnerships, and continuous improvements to safeguard user assets.
Q: What distinguishes VYFI's approach to DeFi from other platforms?
A: VYFI's emphasis on innovation, community-driven development, and user-centric features sets it apart in the DeFi landscape.
Q: What factors contribute to VYFI's mission of expanding DeFi accessibility?
A: By offering diverse functionalities and user-friendly interfaces, VYFI aims to onboard a broader audience to decentralized finance.
Highlights
Time: 00:15:42
Unveiling Plutus V3: The Future of DeFi Insights into VYFI's upcoming Plutus V3 release and its impact on the DeFi sector.
Time: 00:30:18
BAR Token: Powering VYFI's Ecosystem Exploring the functionalities and governance aspects of BAR Token within VYFI.
Time: 00:45:59
Vaults: Securing Yield Farming Opportunities Understanding the role of Vaults in providing secure and profitable yield farming options.
Time: 00:58:25
Community Governance in VYFI Discussion on the importance of community participation and governance in VYFI's ecosystem.
Time: 01:10:05
Enhanced User Experience with Stakeless Farming Benefits and mechanisms of Stakeless Farming in VYFI for improved user engagement.
Time: 01:25:40
Lottery Feature: Excitement and Rewards How the Lottery feature in VYFI adds a fun element and rewards for platform users.
Time: 01:40:22
Transaction Cart: Simplifying DeFi Transactions The role of Transaction Cart in streamlining transactions and enhancing user convenience.
Time: 01:55:17
Security Measures in VYFI's Ecosystem Insights into VYFI's security protocols and strategies to protect user assets.
Time: 02:10:33
Innovation and User-Centric Approach of VYFI How VYFI's innovative features and user-focused development set it apart in the DeFi industry.
Time: 02:30:45
Expanding DeFi Accessibility with VYFI VYFI's mission to make decentralized finance more accessible through intuitive interfaces and functionalities.
Key Takeaways
- VYFI is introducing the highly anticipated Plutus V3 to revolutionize DeFi experiences.
- The space covers a wide range of features including DEx, BAR, Vaults, Lottery, and Governance.
- Exploration of innovative concepts like Transaction Cart and Stakeless Farming in the DeFi ecosystem.
- VYFI's focus on governance and community participation for a more inclusive ecosystem.
- Insights into the unique benefits of VYFI's offerings in decentralized finance.
- Understanding the significance of BAR (BarToken) in VYFI's ecosystem and DeFi space.
- The Lottery feature in VYFI adds an element of excitement and rewards for participants.
- Highlighting the value of Vaults in providing secure and lucrative yield farming opportunities.
- VYFI's commitment to enhancing user experience and engagement through diverse functionalities.
- The space underscores VYFI's dedication to expanding the DeFi landscape with cutting-edge solutions.
Behind the Mic
Opening Remarks
Good morning. Good afternoon, everyone. How are we doing? Thanks for coming. Gemini, thank you for coming as well. And edits associates. Hope you're all having a wonderful start. Stephen, how you doing? I guess Steven might be having some issues with his mic. I'm not sure what's going on. He is in Thailand, so I'm not saying it's Thailand's fault, but let's see if he can jump off and come back on while we wait for him. I think what we'll do is if we can ask you guys to like and retweet the space and let everyone know that we're live, that will give you one. Okay?
Technical Issues
Am I. Yes. You are well and truly alive. Thank God my mic was working and stopped working. I wouldn't be surprised. Now that it's working, it'll stop working again soon. Sorry for that, guys. I'm really excited to be up here and I want to thank Sunny from TM one to be up for being here as well. I'm not sure why the vifinance account isn't muting. It's a bit weird, but maybe that's just me and I have so much to talk about. I'm so excited to have everyone up here. We have tm one up here as well, for a really important reason. We're doing a lot with them in the coming weeks and we're super pumped to sort of start sharing it all out with you guys. So let's start with a little greetings. So I think Sunny already said hello, but I'd like to say hello to you properly, Sunny, now that you can hear me.
Engagement and Excitement
How you doing, mate? Yeah, very well, man. Very well. Good to hear from you. Exciting new week ahead. We're in a new era now, right? So let's see if we can make the best of it. We absolutely are the Chang hard fork yesterday, guys. Congratulations to the chain. If anyone here has any comments on the chain hard fork or how things have been going since it's taking place, do feel free to put up your hands and come up and have a little bit of a chat. In general, the Shanghai talks really setting us up for Cardano v three. Sorry, for Plutus b three. And we're super excited. Yeah, super excited. Sorry, I just need to sort out the by finance account. I can just hear myself talking it myself through it one step.
Product Announcements
Yeah, super excited. Sorry, I need to sort out. Okay, around that. We seem to be having some technical difficulties up here, which I think is generally the case for any twitter space. Now let's get started. So I want to get started with not plutus v three because we've got a lot of things that aren't plutus b three that are coming up. Can you, can you hear that as well? Yeah. I'm going to get the wifi count to drop out and get back in. Yeah, I think that'll be bad. I can hear myself. Okay, now we can do a space. I really do apologize for that technical difficulty at the beginning there, guys. All right. I am super excited for all the stuff that we have coming.
Upcoming Projects
So I'm just going to quickly list it out from top to bottom of all the things that we have coming out in the next few weeks. Then we're going to go talk about each one of those products. Functionally. We have three major products that we're releasing in the next few weeks. Sorry, the next few months, I should say. Some of them weeks, some of them months. And then I want to have a bit of a discussion about each of these products, how they're going to be implemented, what they're going to look like, and what it means to you, the community. And there we're going to essentially have a bit of a discussion about two major governance pieces that I know people have wanted to have a chat about. That is, of course, the burning of the Wi Fi supply and then, of course, the management of our staking rewards once the auto harvester has been built, whether we're going to put that back into liquidity or if we're going to be putting that into buying more Wi Fi and distributing that Wi Fi to the bar.
Trading Competition Details
So this is going to be a bit of a big one. So strap yourselves in. Let's start with the trading competition. So this is something that we've been working in conjunction with t one. So for those that aren't aware, t one is our launchpad. We've been working and building out that launchpad now for a little over a year, and it's fantastic that now we've reached the point where we're going to start bringing these products together in a way that will give the community something exciting to play with. So the trading competition is exactly what it says on the COVID essentially. There will be. Oh, go, Sonny. You had your hand up. Or was that maximum accidental? I was trying to clap. Go ahead. So we're essentially going to be working with projects to host trading competitions. On their token, very similar to how SNEC just recently had a trading competition.
Availability of Trading Competitions
And this trading competition isn't going to be just restricted to the Wi Fi decks. It is actually going to be available to traders on every Dex on Cardano. The advantage, of course, that comes to traders on BiFi is that if you hold liquidity in the liquidity pool that has the competition on Wi Fi, you get an extra 10% points on all your trades. And there's a small scaling factor for that. And the last one is, of course, any trades that are done on the Wifi platform also get a bonus 10% points towards the total score on the trading competition. So we're going to be launching that with two projects we're hoping by the end of this month. So that's all looking like it's going to be starting very soon.
Incentives for Participation
And the total rewards for these trading competitions are going to be upwards of 10,000 cardano of each respective project's tokens. So to be a lot of the community to get involved and earn a little bit of, well, extra money there, of course. And we're also excited because in working with these projects, we're going to be, and we'll be starting this more with lock and load vaults. But in all these, we're going to be securing more liquidity for the platform through. So that's really excited about and well, we'll have more announcements for that on the specific projects launch very soon. As for the trading competition platform itself, that will be announced and should be published by the end of week.
Conclusion and Next Steps
We're going to start a trade competition on Wi Fi. So we want people to be able to look at a little bit of testing on public forum. We're going to starting a trading competition for wifi very soon. So we're excited about. And is the many. Yes, Steve, you were cutting out quite badly there. I'm not sure if people got the last 30 seconds of what you said, so if you don't mind repeating. That'd be lovely. Dump me a speaker. Am I working now? Yeah, you're working out. Yeah, it was very heavily distorted. You sound like a robot. So if you could repeat, that would be cool. absolutely. I do apologize for that.
Excitement for Future Developments
Guys, I think, X is having a bit of a spat today. It does that. Okay. So the last minute was, we're really excited about working with the team at t minus one. So this entire ecosystem, we work very closely together. Essentially. T one is made up, of course, the other founder, Igor, myself, and our engineering. And functionally, we've been working with this team for a little over a year now to put. Yeah, Steve is cutting out really badly again, mate. Maybe there's another spot wherever you are, like that's got a slightly better signal. Guys, please bear with us. I'm sure Steve is trying to find a better place.
Project Collaboration
It looks like Steve's has dropped down as the listener, so you should be coming back up again. I'm going to see if I can invite him. Invite to speak. Come on, Stephen, I know you can make it. Hooray. Yes, you are. I believe the last place we heard you was when you said eagle myself, and you cut out Eagle myself. And the engineering team over there. So functionally, we've been working with these guys to build all these adjunct free products that don't necessarily fit into the specifications or the Dex, but rather a sort of adjunctory products that deliver value to people who want to use a Dex and to the projects that want to launch on a Dex.
Adjunct Services
So I've just mentioned our trading competition, and forgive me for the technical difficulties there. The trading competition is one of the first adjunct to services. We're going to be able to start offering projects that launch through ourselves, but one that we're really excited for is something that we're calling lock and load liquidity. Now, we've discussed lock and load liquidity for a little while now. It's not an undiscussed concept, at least from myself, but functionally, the way that this works is very similar to a vesting for tokens, where you stake tokens and in return you earn a percentage yield. But what's different with this is that it works.
Lock and Load Liquidity
Rather than vesting just tokens, you vest LP's and you earn a boost on those LP's based on how much you vest. Now, I still think that was a bit of a poor explanation. Let me actually give that a second shot and I'm going to walk through the process very quickly of what these lock and load liquidity vaults look like for both the projects and the users, because I always find myself having a hard time describing them. But they're actually super simple. A user decides a project offers 50% of the value that they want to raise in their token, let's call it x token. And they provide 10,000 cardano of x token to be raised through lock and load liquidity.
User Involvement
The user and the community that wants to get involved are then able to provide Cardano into that vault. And once they provide Cardano into that vault, it automatically gets matched, added into liquidity. And then depending on how long the user has offered to lock that liquidity for, they're going to be receiving a bonus total amount of LP's back at the end of the vesting time. So let's say that you derive into the lock and load vault that 1000 Cardano gets matched with 1000 Cardano worth of that project's token at the price in which you enter that then gets converted into an LP. And let's say you've chose to lock it for three months.
Vesting Rewards
In that three months, you're going to receive 15% bonus LP at the end of that locked period. So if the token is still at the same price where it started, you're going to have 1150 Cardano's worth of liquidity, instead of having 1000 Cardano's worth of liquidity. So essentially this is working in a few ways. First of all, it gives users a bonus net tokens and liquidity that they're going to be receiving in exchange for locking that risk for a certain period of time. And the way that we're designing it is that it's going to be a sliding scale from three months through to one year for the projects that are involved.
Scalable Benefits
And the longer you lock that LP for, the larger the bonus that you're going to be receiving is now, of course, there is the remainder of that LP. Let's say the bonus is twenty cents and the user deposits 1000 Cardano. After that, the user gets back 1200 Cardano worth of LP. But there's still 800 Cardano worth of LP left over. And that goes through to the project and it's at which the user has locked it. So if the user locks it for three months, then the project gets the remaining LP that was created under the same vesting terms as what the user has put in.
Mutual Benefits
So this way it actually works on a few levels. First, it gives users access to more tokens for projects that they may want to be providing liquidity for. In other words, you're getting paid out extra liquidity for providing liquidity. But it also gives projects the opportunity to do a small raise on their token and boost the liquidity on their token after their launch. And this is something that has been very difficult in this ecosystem for projects to find, which is a capacity to still do a small raise after launch that isn't just focused on releasing some NFT.
Post-launch Strategies
This is a way that projects are able to do a post launch raise and give their users tokens at a discount in the form of liquidity. And that way both the projects and the community are able to benefit from the arrangement. The user gets more liquidity than what they would have gotten if they engaged naturally, that is, by just buying the token and putting in liquidity. And the project is able to do a small raise after their initial launch. So this is really a fantastic system for both users to be providing more liquidity and, sorry, for both users to be earning more liquidity, and for projects to be deriving more liquidity from their pools.
Collaborative Framework
Of course, this is done in conjunction with Wifi. Right. So something that's really important to note here is that the liquidity is going to be locked to the Wi Fi platform. So projects that have offered their tokens to be engaged on our lock and load liquidities, we'll have that liquidity automatically locked to the Wi Fi platform that period of time. And this is something that we're also really excited to be able to foster at Wifi and to be able to provide that cross service as functionally. What we're doing is we're creating a new raised product, and we're using that raised product to build liquidity on Wi Fi and to build projects access to liquidity, which is something that this ecosystem, as I'm sure we're all aware, is something that's certainly lacking in this ecosystem.
Clarification on Complexity
So. Oh, sunny, was that a bit too complex?
Overview of Liquid Locks
Well, you know, these things are tech side, so you've made it as easy, I think, as one could understand. So I think I can make it a little easier. I'm going to try making it just a little easier. So, lock and low vault, super simple three steps. You find a project that you want to engage with, you lock your cardano in there for a certain period of time. You get back your LP's that are loaded with extra lp tokens versus what you would have gotten if you just put them in the first place. Hence, lock and load liquidity. You lock your ADA and then we load it up with extra liquidity when we give it back to you. So these two items combined, the trading competition and the lock and load liquidity, are both products that are going to be built through, that are built by an on t one, but are using the Wifi infrastructure to essentially be able to run the trading competition.
User Engagement in Competitions
Doesn't just use Wifi, it uses all of the DeXs infrastructure. But because we work, because of the relationship between us, we're able to give bonuses on those trading competitions for users that use the Wi Fi platform, which is something that we're excited to build more volume, particularly with the design of our bar, we think that could be a really powerful way to essentially incentivize people subtly to push more liquidity through our push more volume, sorry, through our debts. And let's just quickly talk about how easy it's going to be to engage with this trading competition. If you trade any of the tokens that are being tracked for the competition on any decks in Cardano, you're automatically in. You don't actually have to do anything. All you have to do is go to the list on our site, put in your wallet, and you'll be able to see where you are on the ladder, how many points you have.
Tracking Trading Progress
You'll also be able to see the net volume that you've traded. So it really is as simple as that. It's going to functionally be a web page that you can come and look at and then the winning wallets will be able to come to that webpage and claim their prize. So it's really going to be that simple. And like everything we do at Wifi, we always aim for simplicity of use. The lock and load vaults are also going to be incredibly simple. You're just going to go to the page, you're going to click which project you want to get involved with and then you're going to click lock and select how much ada you want to lock it for how long and the apy that's associated with that length of time. And then you just press the go button. It's super easy to do. So. Yeah, I think I've explained both of those enough.
Q&A on Features
If anyone has any questions about the trading competition or lock and load volts or lock and load liquidity. Sorry. Don't hesitate to ask any questions. You can just put up your hands at any point in time, feel free. But I am going to just sort of continue with Plutus v three and what we've got coming up with the Wi Fi decks because there's so much to go into there. Now at the midwest, we continue. I think people might want to know. I think people might want to know. Maybe timeline. I'm not sure if you mentioned it on when these features would be going live. Yeah. So certainly the Wi Fi decks. Oh, sorry, the Wi Fi decks, the lock and load vaults will be coming second. The trading competition will be coming first.
Project Timeline
I did mention with trading competition that we expect it to all be up and running by the end of this month. And we should hopefully be running a tester with Vifi, a small Wi Fi trading competition sort of in the next two weeks. And with respect to the lock and load vaults, I'm sort of hoping within the next month or two's time it's. Certainly a question Q four. Yep, we have a question from Marsha Soros. Thank you for that. Marshasaurus. Where does the LP bonus come from? So the LP bonus comes from that original matching that we make. So if you think about it with respect to a net amount of tokens, let's go back to that example of 10,000 Ada, with 10,000 Ada's worth of token being supplied by the project.
Understanding LP Bonus
If you deposit 1000 Ada and then the project puts in 1000 Ada worth of their token to match it, combined, we've now got 2000 Ada worth of TBL or 2000 Ada's worth of LP's. So what we're able to do then is the project is able to then decide of that 50% of that value that we're giving up. My token, you know, the token of the project, how much of that are we going to be giving back to the user as a bonus for locking it for between three months and one year? So the maximum bonus that could be offered is up to 100%. That's completely up to a. That's completely up to the project.
Determining Percentage Returns
And there may be projects that decide that if you lock it for a year they give you the full 100% return, but we have up to 100% that projects can offer. We're already talking with a few projects about setting this up and most projects seem to be falling between sort of the scale of the 20% to 30% range, depending on how long you lock it for. So that's sort of to give you an idea of what to expect. Whilst theoretically it can be up to 100%, I'm not going to say that you're going to have 100% APY serial. Lovely to see you. How you doing, my friend? Hey, hey. All good, all good.
KYC and Project Accessibility
Guys, I just have two quick questions regarding the lock and load liquidity events. Right, so the first one is like this, just for new product launching on t minus, and the second one is. Will be required to do KYC to join. That's both completely fair questions. So question one. No, you do not have to be a project that's launched through tm one to access the lock and load liquidity. In fact, we're already working with two projects, both of whom did not work through launch through t minus one that we'll be starting with. There's already been a hint at the first one in the last few weeks.
Setting Up and Managing Projects
You can look back and wonder on who that is, but we essentially want to work with projects. This is a great tool, as I said, this is a great tool for projects to be able to try and boost their liquidity, costing them upfront money, because that's the big hardest time that projects have in gaining liquidity. They have to put money in upfront to cover that liquidity and then they're taking on all that risk. And that's functionally how you the only way to do it right now in Cardano. So this way we're hoping to essentially be able to find community members that are willing to share that risk with the project.
Public Accessibility of Tokens
And that's the we want to gate. Pete, by saying that you have to have launched on t minus one to access. This is hopefully going to be a useful tool for a lot of projects in the ecosystem. Now, as for KYC, since these are publicly traded tokens, that is, they're already on the market and you can trade them openly, there's no requirement for KYC, so no, there will be no KYC on accessing the lock and load vaults. Anyone will be able to access them as long as you want to get involved with that token.
Transitioning to Plutus V3
Does that answer your question? Serio, I'm going to jump down. Yeah, perfectly. Thank you. Thank you. You can stay up, that's fine. So let's now sort of navigate into Plutus V three and more. This is the stuff that I'm also super excited for now, I'm not sure. If you're aware, but we just had trim come up, so I don't know if Trim had a question on the last. Hey, guys. Hello, my friend. How you doing? Very good, thank you. How about you?
User Experience Improvements
I actually just want to come up and highlight something that is really worth pointing out that the Wi Fi Dex is really taking the whole sort of providing liquidity and yield farming and all of this really beneficial stuff that users can do and just making it so much simpler for all of the users involved. I didn't even think about this because explaining some of these concepts and how they work is much more complex than actually just sort of showing how they work and what they do. So, you know, the layer two pools, for example, I was just like, okay, I can kind of see sort of balancing your exposure a little bit is beneficial.
Instant Yield Farming Opportunities
But it wasn't until you explained it to me, Stephen, that I realized that, hey, you can actually just buy lp tokens from a layer two pool and you can instantly, with one trade, you can start yield farming, which is just absolutely crazy. And this sort of setup that you're describing now with the lock thing, it's really taking away a big pain. Point from the projects themselves that, as you say, in the starting phase, that's when you don't want to lock up too much of your liquidity outside of the token itself. And on the other side, when they do, in a traditional sense, they lock up the Ada and their tokens.
Eliminating Trading Anomalies
And then when people want to provide liquidity to those pools, you're creating these really weird trading patterns when you need to zap in and stuff. But, you know, I think it's taking away pain points on both the liquidity provider side and the project whose liquidity, you know, you want to put on these Dexs side. So, I don't know, I just really want to commend you guys for the work you're doing. You really. It sounds more technical than it is, but it's just such a much.
Advancing User Experience
Order. Of magnitude improvement in the user experience for the relevant users, which is hopefully also going to be a positive impact on price for all of the tokens that are involved in the project. So, yeah, I just really wanted to give a big shout out to Wifi that you're doing all the right things, I think. Thank you. At the very least, they've not a positive impact on price, a positive impact on net liquidity, which in turn creates more price stability. Now, functionally, I do apologize.
A New Experiment in Blockchain
I am just walking through a little bit of a loud section. I tend to pace, and I was getting sick of pacing around my room when we're also looking at this trim. I just want to quickly follow up on what you were saying. This is sort of a new paradigm. This actually hasn't really been something that's been done that I've seen, at least. I'm very welcome to be stood corrected in crypto before. And that's essentially a pipeline that a project that has already launched can conduct a secondary launch afterwards in such a way that both the community and the project can benefit.
Introducing New Concepts
And this is why it's something that we're super proud of introducing and super proud of sort of bringing to market. And again, like everything we do, we're experimenters, right? We're experimenting, being something that hasn't been done before. We need to see how it works, how sorry the market penetration is. Do people get involved? What projects are people most interested in getting involved in? There's still a lot of figuring out to be done, but it's something that we're really excited for and really excited to sort of get figured out and working on.
Governance and Community Involvement
Yeah. And just to highlight another one of these aspects that, you know, may fly under people's radar that you mentioned, this ability for a project when they launch a token to have other people lock up, you know, the opposite side of that liquidity pool. And then deciding how much of the value they want to distribute among the holders and liquidity providers is actually a much more significant thing than just attracting people by giving a high yield. If you want to launch a project that has, say, a governance tokenization that they're not really intending to be used specifically for trading, but, you know, much more for actually managing the protocol, and they don't want to create sort of a centralized revenue generation target for this product.
Equitable Distribution of Tokens
They want to make, you know, an open source protocol or whatever, but it does need some sort of management. Then you can have this management token set out and then you can literally distribute everything to just the users that are interested in this. So you don't end up with a single team holding most of the tokens and then having to pay all of the salaries of those people in perpetuity, but instead actually distributing it in this way. That's at least, I would argue, more equitable than just giving them out in some other ways.
Innovative Token Management
In a lot of cases. I don't want to give. I don't want to give too much away. But based on what you're saying, we've already sort of got the design of another product that we want to sort of implement that work off of the very concept that you were describing. But that's in the future. Yeah, yeah. Now let's stick to the present. Yes, no, I love to hear it because stuff like we had a Twitter space about layer twos the other day, and the Anastasia labs were talking about Midgard and how they plan to in the future possibly manage that.
Token Management Challenges
And they are very hesitant to doing anything resembling a token. But if you want to do a dao, you do have to have some sort of governance token, but they really don't want to make this sort of pump and dump fundraise for just the team, all of this other financial nonsense. So yeah, I'm really happy to see that you're sort of tackling some of these problems that these types of projects will be having. That's absolutely what you just described. And then what you can do is rather than do a launch that takes a launch into the project, you do a launch that takes the launch straight into the liquidity pool, and then the remainder that they've decided to not give out as a bonus to people that have vested, essentially gets vested to the treasury.
Liquidity Control and Stability
In turn, the treasury gets control of that remaining liquidity. Thereby you can essentially have a launch which should have zero downwards pressure because no one's actually receiving a token. And it's rather just setting a price and a liquidity amount which will be an initial liquidity offering. I don't know. I'm not 100% sure what we call it yet. But, yes, that's something I'm very excited for. And it's certainly a use case that. Exactly as you described. And not just that, there's other people that I've been speaking with as well who require that exact use case.
Future Use Cases for DAO
So it's perfect for a dow, exactly as you said, if a Dow needs to launch and isn't there to raise money for themselves, but rather requires that equitable distribution, particularly if they want to make sure that they're on the right side of the laws. In case regulators should ever come through, they would be able to use a tool such as that so that they can show none of the money that was raised actually went to them. It all went to the voting people as. And that is something that we're super excited to sort of be looking at and using that tool for trim.
Excitement for the Future
You're getting me excited. Yeah, you're getting me excited. All right, so I haven't even started talking about wi fi yet. My God. All right, so let's. Before I do go, I'm going to start talking about Plutus v. Three. And before I do, if you think people are going to be interested, if you think this might be of import to somebody in the community, then definitely do take a moment and share this space, please. It really does mean the world to us if you're able to do so now. Plutus v. Three has officially been actuated.
Implementing Plutus V3
It's turned on Chang hard fork. Here we are. It's happened when we do a bit of a debrief at the end, like a more relaxing conversation. Trim, I'd love to hear your thoughts on the Plutus v. Three.
Introduction to Plutus v3 Launch
I'm sorry, the Chang hard fork and what you think of how it all went, because I'm sure you have a lot of opinions there. I certainly do. But let's save that for later. For now, I really want to say this is, I think, the most formal announcement we've made that we are going to be launching Plutus v. Three, or Wifi, as hopefully the first, if not one of the first, Plutus v. Three, dexes on Cardano. And this is something that we're super excited for. We've been working on this for many months now. And we are down to the home run stretch, which is why I feel very comfortable in now coming up and saying we're almost ready. Our whole back end has been updated and is ready to go. Really the only phase we have left is to make some, is to make the adjustments, or final adjustments on some of our smart contracts. And then once we've made those final adjustments on some of our smart contracts, we should be pretty close to getting audited.
Challenges and Timeline for Audit
So I don't want to give an exact timeframe yet, because unfortunately, all of those things that I've just stated can be variable. Right. Maybe we run into some problems that we're not even aware exist yet, which is certainly something that I'm sure people here that have worked in tech, we've all experienced. But we're certainly targeting Q four of this year to be the launch for the Plutus V three Dex. So we're looking by the end of the year is certainly our target. Now what's really exciting is that alongside the Plutus V three Dex, this really gives us a lot of capacity to run a lot of really cool implementations and upgrades over the next sort of the month, leading into the Dex and then into the V three, and then of course going forwards, because all of a sudden we have capacity to do some really cool things that we haven't been able to do before.
Upcoming Features and Order Types
So as an example on this, we're going to have a whole host of order types that are going to be introduced. Of course you can do otos. Otos, that's the wrong letter. Good. Till cancel all these different order types that you haven't been able to see on Dexters, on Cardano. But what we're most excited for is merging these order types with LP's. And this will allow you to create, hopefully, incredibly bespoke structures that they're not concentrated liquidity, but they're going to feel and look a lot like concentrated liquidity. Through the capacity that we have of the way that our LP's work, we can actually set up, limit orders around those LP's, still deliver you farm back on those LP's. Whilst now you've got all your price protections on the tokenization, allowing you to not need to worry about when we hit a certain price. You're going to have to exit liquidity, because that's already being done for you. So the smart contract won't concentrate the liquidity between price ranges, but it will give you price control over where your liquidity is entered and exited, or in other words, the price range across which your liquidity is executed.
Liquidity Interfaces and Builder Functionality
And you can do this for all liquidity pools. What's really sort of coming instead with that is our liquidity. What's the word for it? Our liquidity interface. We don't actually have a name for it yet. I'm going to call the liquidity builder is our liquidity builder, and our liquidity builder is going to be part of the front end. We're doing a bit of a front end redesign. And in that way, introducing a portfolio page. And on that portfolio page you're going to have access to the liquidity builder. And the liquidity builder essentially allows users to input tokens that are in their wallet in a drop and drag fashion. So there's a list on the side. You can drop and drag the token that you want into the list. And once you've dragged it into the list, you're going to see 100% this token. And then you can select another token and drag it into the list. And then it's going to show you 50% this token, 50% this token, right? Then it's going.
Interactive Portfolio Management
Then you can pull in a third token and you can say, do I want this to be the majority of the L two LP, or do I want this to be, you know, not the majority of the L two Lp. In other words, for example, you could draw in Wifi, WMT and then put AdA on the other side. So then you'd have Wi Fi WmT, adaliquidity pool. And this liquidity builder will essentially allow you, as you drag it in, to track what your net risk profile is. In other words is my net risk profile. And this is going to be shown as a decimal, is my net. Or actually it's going to be one of those web charts, the ones where like it shows, dot like goes out in a star in certain directions. And it'll essentially show you which token you have the most risk on, given that liquidity structure. And the idea here is that users should be able to essentially build n dimensional liquidity pools.
Community-Driven Auto Harvesters
You know, you should be able to merge eight tokens together to create a bundled basket, and that bundled basket will give you that star or that certain set of risk profiles based on the tokens that you hold. And what then becomes really fun there. But that's something that we'll talk about on a future date, is how we are then going to be merging that with giving users the capacity to build their own auto harvesters. But that is definitely a discussion for after Plutus v three now let's just do a very quick recap of the stuff that I just spoke about, because it's already a lot and I haven't even gone into the v three s ness itself. New order types, super excited for new order types, but more specifically bespoke order types for liquidity, which is something that we're going to be able to offer that no one else ever has. And then we're going to have the liquidity builder and the portfolio page.
Innovative Features in Liquidity Building
And the liquidity builder is really what we're excited about. A portfolio page you can get from a few sources, but the liquidity builder will allow you to bespokely build your own risk profiles by layering your tokens however you like to essentially create whatever combination of liquidity risk you want to hold. Now with that, we're also super excited to be introducing a merge of our vaults with our farms and this. Oh, trim. Let's go to trim first. And then I'll go into the merge of our vaults and farms. Yeah, yeah. No, I just wanted to ask a little bit about the. So I think the bespoke orders for LP tokens is amazing as a, you know, if you're doing yield farming, you may want to pull out profits at a certain price point. And with this, you can basically do both without having to constantly monitor charts and all of this stuff. Right?
Portfolio Builder and Yield Farming
Like you can set up an order, a limit order that will effectively do that for you, which is really quality of life improvements again. But the other part, the portfolio builder thing I'm curious about, how does that play into the Dex? Are you able to build a risk profile of tokens while yield farming those tokens? Or is it sort of just like an index of sorts? No, it's a risk profile of tokens while you build those tokens. Again, this is me going further than I should, and my team is going to get annoyed at me. But I'm going to introduce the concept. I'm going to introduce the concept. I'm not going to say this is happening just yet. I. If you create, if we have a system whereby users are able to create bespoke liquidity profiles like this, you could create, let's say an l six layer six liquidity pool.
Structure of the New Liquidity Pool
And that layer six liquidity pool is made up of, let's say, let's keep it simple. It would be something along the lines of 50% Cardano and then 8% of six other tokens, right? That would be or 8.5% of six other tokens. That would be an example of a simple l six liquidity pool. Now, in the circumstance of that l six liquidity pool, the first thing that you have, which is a big problem when you're holding six tokens, is that it's really difficult to farm each of these six tokens independently. Well, that l six that you've just created is actually independently made up of those six fundamental liquidity pools, right? You've got six liquidity pools that have been merged to give you 50% ADA and 8.5% of each of those other liquidity pools. That's crazy.
Auto Harvester Functionality
So as a starting point, we're able to roll that all up. So because we've got the non custodial farming, we're able to roll up all that farm from those six liquidity pools into this new structure that's matched with Cardano. But what's really fun now and again, this is now me getting into the really fun stuff that isn't, you know, please give us a little bit of time. This is functionally an introductory level of auto harvester. In other words, if a user were to purchase that L six liquidity token, they would functionally be indexed 50% Cardano, 8.5% across those other tokens, and receiving farm for holding that index. In other words, those risk profiles that are generated based on these individual liquidity pools that we build, that we can build, we will then be able, or we're then hoping to, sorry, create the capacity for users to select from a list of risk profiles and then automatically engage with those risk profiles.
Community Engagement in Strategy Building
In other words, automatically becoming engaged in ten tokens simultaneously, all of whom are receiving farm, rather than needing to go out and purchase those ten tokens independently, and independently put them into liquidity. And this should get to a point where essentially users are able to select indexed profiles that have been built by other users and participate index structure on the Cardano chain. So, just to play this a little bit back to, in a less technical sense, there are projects like Cerberus, right? Some of these other ones that want to make an index where someone from outside of the ecosystem, they could come in and they can say, okay, give me exposure to aaa rated tokens, or give me exposure to AI tokens, or gaming tokens or whatever.
Conclusion and Future Prospects
And what this does is it sort of takes your ADA or whatever token you use to buy it, and it takes that funds and put it into these other tokens, and then you just hold the tokens. Nothing sort of happening there while that's going on. Whereas in the Wi Fi case, in this case, you would do the same thing. You would get the same exposure, basically, but you would go directly into yield farming. So you would have the same number of steps. You select the, you know, whatever basket that you want, you just buy a token, and instead of having an index token that does nothing and you hope that the price increases, you have an index token that is yield farming for you while you're waiting for the price to increase. That's crazy. That is such a big step forward in order to bring liquidity not only into the tokens, but into the Dexs as well, and into deFi.
Price Exposure Dynamics of Ada
Similarly, I can tell you, for Ada, in that circumstance, you're going to have a far more closer to 75% price exposure. So if Ada goes down, you're going to be exposed 75% to that price exposure of Ada's movement and similar. If Ada goes up and with WMT, it's going to be about the same as what it was for Wifi. It's like 11.5%, twelve and a half percent. So what we're essentially able to do is given any set of combinations that you decide, we can essentially tell your price exposure to any given token within that combination in the way that you set up your LP's. And what makes that really fun is that you can play with different combinations. You know, you can try slotting in a token into one, let's say like the. Into one position in the L four LP, and then move that token into another position inside the L four LP and see how that adjusts your risk profile.
User Experience and Risk Management
Right. And by looking at that, we're hoping to give users a far more clearer picture and understanding one on how our layered LP's work. Because it's going to be a far more tactile and visual experience. But two, we're also hoping to be able to give them more control over their portfolios because they'll hopefully be able to farm simultaneously whilst also engaging in a certain degree of risk management across a net bucket of assets. Does that answer your question, Celia? Yeah, yeah. Thank you. Thank you. And can I just follow up question? Unless you really need to. Yeah. All right. Will Wi Fi put out like pre made baskets or there would be just user made and also like, can I see other user baskets or I'll only be able to access my own one?
Accessing User Baskets
Yeah, so that's exactly what I was just talking about before with trim. Initially, we know all users will be able to see all the baskets because the baskets will functionally just be on the front of our decks. One of the big things that we're building is an arbitrage bot to ensure that all of these baskets remain arbed to the actual value of the tokens. And that's why, as I said, this has to be a step by step process. A lot of what I was talking about is further steps down the line. It's not going to be starting as a fully generalizable system that allows users to share different strategies between each other. But what you describe is certainly the goal of where we want to get to with this system. Yes. All right. So again, I think that pretty much answers all on that.
Integration of Vaults and Farms
So let's move into the fun stuff that we're doing with our vaults. So we're going to be merging our vaults with our farms. And this is something that we're super excited for. It will essentially allow ourselves and any project that wants to create what I would consider the most bespoke DeFi combinations for their users when engaging with any decks on Cardano. And the way that this works is essentially projects can set up gated farming rewards based on assets from their project that have been staked against a certain liquidity pool. So an example would be if users stake 10% of, let's say, WMT. Again, if users stake up to 10% of the value of their LP against the WMT liquidity pool, they'll be able to earn up to 10% boost in their farm. That would be an example of what could be set up.
Integration with NFTs
But what makes this a lot of fun is that it doesn't just have to be tokens that we merge these systems with. We can also do it with NFTs, which is something that we're super excited about because of course the Wi Fi NFT. So one of the first implementations that we'll be putting in here will be the capacity for users to, rather than stake the NFT against an individual vault, will be to rather stake their NFTs against specific liquidity pools. They have higher value in that they want to be earning boosted rewards on. That way we'll be able to essentially use those NFTs to give people boosted rewards, and you'll still be earning as much, if not more Wi Fi as you currently do from the NFT, but rather that reward is being delivered in such a way that motivates users to put liquidity into our platform, which in turn boosts volume, which in turn boosts distribution to the Wi Fi token.
Project Collaboration and Unique Rewards
And what's going to be a lot of fun is that we're going to be able to work with projects and implementing their assets, to be able to do unique and individualized rewards regimes or reward programs for their users, so that if their users were to stake their assets or their NFTs, they can unlock unique rewards for doing so for their community. Engaging in liquidity. So this is something that, again, we haven't really seen this be used in Cardano in this way. And we're super excited to be merging our rewards from our vaults with our liquidity pools and be providing that power back to projects to be able to deliver more value to their community and to users that provide liquidity on their behalf or for them, for their project.
Future Launches and Innovations
So this is looking to be launching very soon after our Plutus V three. It's not going to be launched exactly at the same time, mostly because it'll need to go through some further testing, but this is also looking to be launched in very close proximity to the Plutus V three launch of our decks. And as I said, we expect, honestly, at this point, we expect all of this to be taking place in Q four. So on top of the expected, you know, ten to 15 x in scalability that we get on our decks, we're also going to be releasing the trading competition and lock and load vaults alongside TM one. We're going to be releasing the Plutus V three of our decks, which is going to be coming with all heaps of new order types to give you more specific control over the way that you trade, as well as those same order types for your liquidity, to give you more control over the way in which you engage and the price ranges over which you engage with your liquidity.
Community Engagement and Q&A
We're also going to be releasing a liquidity builder as part of our portfolio page to help people manage and build their own risk profiles using our layering of LP's. And then we're going to be merging our vaults with our vault rewards with our liquidity pools and our farms so that users are going to be able to create, or projects will be able to create new and exciting ways for users to engage with that project's liquidity. That's a lot. So I would like to open it up to the community. I know you guys have already spoken a little bit, but I would like to open it up to the floor now. I think I've gotten out all seven major points that I wanted to get out and all seven major things that we have coming for which I am super duper excited. Sorry for using such childish words.
Addressing Community Questions
All right, well, Sunny, do we have any questions that were written to us? No, not recently. I think because we pulled everyone up, they've been asking you directly, so I would like to give the opportunity now. Here we go. Got a hand up to anyone else who hasn't got the question? If you don't want to talk, just type it out, but it'll be nice to hear your voice and bring you on the stage. Shoot. Crypto intelligence. So in terms of the recent upgrade of chang, are you guys planning to be a D rep or, you know, act as a D rep for the project? That would be a good thing, like something similar to what Minswap has done. Wherever Wi Fi holders are able to use some of those Ada that's been staked on the Wi Fi website to help to vote in the main cardinal treasury.
Advocating for Project Governance
It's only fair, you know, this project is also part of the cardinal ecosystem, so it's also. So it's fair that you guys have a, we, as a project, have a say in what goes on in the whole ecosystem. Yep. Yeah, absolutely. So I've actually got to get working on that. I haven't gone through the process to become a D Reb, but we absolutely should. So thank you for bringing that up to me. And that's certainly something that I'll be working on and I'll be putting out some more information in the next few weeks once I've worked on it, because that I agree with you is super important. Yeah, that's a great show.
Discussing Token Burn Mechanics
Something I actually did forget to mention that I really wanted to. This is the first time I want to formally start discussing the concept of burning some Wi Fi tokens, I guess, in a public forum. So we've had a lot of different ways in which it's been introduced to us that we could burn it. There's quite a few on the treasury, sorry, on the governance proposals page. So I want to spend a bit of time over the next few days essentially going through that and talking with you guys about what you think are going to be the best ways that we can go about it. And I want to write up, and I will be writing up an article that I will, it'll be on our medium, but we'll share through to the community to really begin engaging in that discussion of a burn.
Slow Token Release and Its Implications
As has already been mentioned, we do currently have the capacity to burn half of our token supply, and we still have the original 21 years of release because we're currently releasing our token. Well, I mean, we are literally the slowest rate of any Dexs farm in terms of net supply of tokens of any Dex in crypto. So we do have the slowest release. And as such, that does give us a lot of power to essentially adjust our net value of tokens. We've got the tokens of available to be burnt. So whether that be. One of the really interesting proposal that I saw was that we burn tokens alongside Farm, so that with every farm we basically burn the same amount of tokens alongside that farm and essentially we get the same 21 year result, but it just takes place more slowly rather than being sudden change to the net supply.
Exploring Various Token Burn Strategies
We can, of course, just burn taught amount of token. That is certainly something that's more than capable of being done. And then we could do something a little bit more bespoke, whereby. No, I can't think of anything more bespoke. They're the two main ones that I can think of whether we do it slowly or whether we do it fast, or whether we don't do it at all. So these are the big things that I want. These are three big things. I would love you guys to sort of bring up to us in discord and bring up to us in telegram what your thoughts are. And even now, of course, because we're super interested in getting this discussion going and hopefully getting this burn achieved in the next few months, because I think it's something the community is very interested in doing.
Next Steps for Stakeholders
The next big one that we want to be discussing after that, by the way, it'll probably take place after the burn, but it is what we're going to be doing with the stakeholders on our side in terms of should we be delivering that back to liquidity or should we be using that to buy back WiFi and deliver it to the bar, and I think the bar will be the winner of that personally. But that's very much got to do with the fact that by delivering it to the bar, we are still delivering it to liquidity because we're using it to buy back WiFi tokens. But rather than delivering it to liquidity directly, we're delivering it through price stability in the farming token.
Proposals for Governance Discussion
So that was a proposal that I really loved seeing. I can't remember the name of the community member that put it up, but absolute legend. Really good idea. And I think that is certainly something that we should be voting on straight after the burn. So they're sort of the two big ones that I want to be looking at in the governance over the next month and a half. Over the next month, two months, sorry. So let's definitely get those discussions started. I'll be hitting up in telegram and in discord as well to get some of those discussions started too.
Discussion on Token Burn Effects
So you go crypto? Yeah. Wouldn't burn in, destroy some of the liquidity, just. No, no, we've got the tokens. There are currently, I want to say, 415 or 420 million tokens that exist. So we could put 230 or 260 million of that into a burn wallet and reduce our net supply to 260 million, for example. Okay. Because, for example, I've seen what some projects have done in the past where they've just issue a new token, if, you know, it's not so that it can reflect to everyone. Because for some reason, what I've realized is that people have always misunderstand in the burning or token Max supply, if you understand where I'm coming from.
Clarification on Tokenomics Concepts
I think everyone misunderstands the concept of max supply, FTV and emissions. The stock market has got a far better understanding of how those things work than the crypto markets, let's just say that. But we also have to deal with the fact that we exist within a system that most people don't understand. So doing it in a way that is easiest for people is often the best answer. So that is certainly something that we should consider in the approach that we take to our burn. So maybe a slow burn that takes place over ten years isn't necessarily a super effective way of doing it for that very reason.
Definitions Around FTV and Market Cap
Thurio, please. This burn you guys talking about is about like reducing FTV, not reducing market cap. Correct. We know that FTV is one of the big, it's one of the big things that people have held against us for a long time. So let's not allow them to hold that against us anymore because it's a ridiculous, given the design of our emissions, it's a ridiculous argument, but at the same time it is still an argument that I'd rather people not be able to make.
Recap of Upcoming Features
All right guys, so very quick recap. Just before I head off, let's go through all the things that are coming. Trading competition, lock and load liquidity, both working in conjunction with t minus one trading competition, allowing projects to run a trading competition on their token. And the lock and load liquidity, allowing projects to put up their token in exchange or put out, yes, sorry, put up their tokens in exchange for the users locking ADA against their token in liquidity for a certain period of time to receive a boost. Oh, that's a wordy one then we of course have Plutus v three coming up on the Cardano decks for which we are super excited.
Features Accompanying Plutus V3
And alongside that Plutus v three we have a host of upgrades that are going to be coming. Order types is one that we're super excited for, but more, even more so is order types for liquidity pool tokens, allowing you to create really controlled entry and exit points for your liquidity strategy. We also have the liquidity builder which will assist users in setting up their risk profiles and better engaging with layer two, layer three, layer four and so forth. Liquidity so that they're better able to understand how this is adjusting the way that their portfolio looks and how this is going to be affecting their risk. And then we're going to be merging our vaults with our farms, allowing users to engage and access new modes to get rewards from engaging with liquidity farming, and also give projects the capacity to give new rewards and entirely new ways in which their users can earn out of providing liquidity to their project.
Conclusions and Future Engagements
All of this is expected. Well, trading competition this month and all of this is hopefully going to be coming. Q four will be keeping you guys all well in the loop in terms of our expected timeframes. And we're also going to be hosting quite a few spaces coming up in the next few months. Essentially just pushing all of these upgrades that we've got coming, all of these things that we're going to be introducing to Cardano that have never been seen before, and how users and projects are going to be able to best take advantage of what we're bringing to the ecosystem. All right, any final questions? Speak now or forever hold your peace.
Final Remarks
I think that's a lot for people to take in, to be honest. Yeah, I know questions won't come right. Now but I'm sure we're going to be having another space soon, right? Yes. So this has sort of been a presentation space on everything that we've got coming. Each and every one of those products that I'm describing, each going to have dedicated spaces, dedicated articles, dedicated entries into our docs. Of course, every single one of these is going to be its own product that we're going to be presenting individually as well. So this is a good opportunity to take in all the things that we have coming up, and then over the next few months, tune in and learn how you guys can take advantage and make some profit off of all of these new systems that we're going to be introducing to Cardano.
Invitation for Collaboration
And see. While we're here on the stage, I would just like to let people know that, you know, if they've got any projects they're working on or if they're looking at tokenomics for their own particular project or anything that might be connected with the token launch, please reach out to us, DM us. And even if it's just, you know, an hour chatting about your project, we'd like to give value back. We love to meet these people, these founders of projects, and see where we can add value to them. So reach out to us and. Or let any friends that you know who are looking to launch a project and we'd love to support them.
Concluding the Discussion
Yeah, that's what I wanted to say. So, you know, we're here. Absolutely. I want to second that as well with you, Sunny. If anyone is thinking of launching a project, has already started towards that, or is just looking for some advice on how they can do so please don't hesitate sending us a message hitting us up. We've helped a lot of people sort of set themselves up and set up their project, so we'll love to help you guys as well. All right, guys, well, look, thank you so much. I think we can end it off now. And I hope you have yourselves a wonderful rest of your week and a great rest of your Monday and a. Great September ahead for all of us.
Final Transition
We hope. Yes. I don't think I can end the space, though, Steve. So whoever's there, they can do that?
