DAOvip Staking Program (vipDVD)
Last updated
Last updated
DAOvip is DAOventures staking program to incentivize DVD community and build a sustainable ecosystem for DAOventures governance.
You can stake your DVD at https://app.daoventures.co/stake-dvd and receive vipDVD in return. The vipDVD token is always worth more than a DVD token and will only appreciate relative to DVD as DAOventures generates more revenue to add more DVD to the pool via Uniswap buyback. The concept of vipDVD is similar to xSUSHI tokens, which you receive in exchange for staking SUSHI tokens in the Sushibar.
Every time a user stake DVD token to the DAOvip pool, vipDVD tokens are minted based on their share of the pool. As more DVD is added to the pool via Community Wallet distribution and Uniswap buybacks, vipDVD would worth more and more DVD over time thus allowing users to earn additional DVD via DAOvip.
When users unstake from DAOvip, the vipDVD would then be burnt and converted back to DVD. The DVD amount received would be based on the vipDVD:DVD ratio at the time, and should always be higher than the amount that was originally staked.
Visit this link: https://app.daoventures.co/stake-dvd. You can stake your DVD for vipDVD by connecting your wallet, typing the amount you want to stake, and clicking Approve Staking, and approving the transaction on your wallet.
You can check your total DVD amount plus staking rewards, in the form of vipDVD. Please note that the value of vipDVD changes continuously due to the fluctuating amount of newly staked DVD tokens, current vipDVD supply, total DVD in the staking pool.
The exact DVD amount you get will be shown ONLY when you withdraw your DVD from DAOvip.
You can get DVD by unstaking from DAOvip, and sell DVD in a secondary market. DVD is also available as your voting right for DAOventures governance system. In the future, we will develop more strategies to create DVD use cases.
There are two sources of DVD rewards:
Part of the profits generated through the various strategies is used to buyback DVDs via Uniswap V2. These purchased DVD are added to the DAOvip pool and distributed to all DAOvip stakers as a way to reward the community.
As part of the tokenomics update, DVD tokens from the Community Wallet (instead of minting new tokens via liquidity mining) are distributed to the DAOvip pool over two years.
