Introducing The Crew’s Vault, The Fuel Vault, and xVSO.
📡 The Head Builders call you to the Station’s main deck to inform you of long-awaited news!
- Introducing revenue distribution model with veTokenomics.
- xVSO: the more VSO tokens or LP tokens you stake, for longer, the more xVSO you accumulate revenue share you’ll be entitled to.
- The Crew’s Vault: single-sided VSO staking (accrues xVSO)
- The Fuel Vault: Trader Joe or Pangolin LP tokens staking (accrues xVSO)
With the deployment of the first products in the Station’s Marketplace, we are approaching the release of our revenue distribution model. VSO’s tokenomics and utility are getting a boost.
The Token module has been in the lab working on 3 special upgrades to the Station: The Crew’s Vault, The Fuel Vault and xVSO.
These are key pieces in Verso’s tokenomics and incentive alignment strategy between all elements of the project, i.e. product providers, VSO token holders, stakers and liquidity providers, and distribution channels.
The Crew’s Vault 🧑🚀
The Crew’s Vault is a smart contract where users can single-side stake VSO to receive part of the aggregate revenues from all products across all distribution channels.
Essentially, the more VSO tokens you stake, for longer, the more revenue share you’ll be entitled to. When rewards are distributed from the Crew’s Vault, a larger share will go to stakers who have more accumulated xVSO.
But what is xVSO and how does it connect to the Crew’s Vault?
xVSO is our own twist to the ve (vote escrow) model introduced by Curve, and of Platypus’s vePTP, both of which have seen immense adoption across DeFi.
The veTokenomics we have developed aim to foster long-term holding and liquidity provisioning. xVSO is a “loyalty” measure and a lever or how much revenue will be directed from the Crew’s Vault to each staker.
💰 There are 3 ways to accumulate xVSO.
- Stake VSO in the Crew’s Vault: Stake your VSO in the Crew’s Vault and accrue xVSO.
- Provide liquidity in the VSO/AVAX pools on Trader Joe or Pangolin: Stake your JLP or PGL tokens in the Fuel Vault and accrue xVSO. Since liquidity providers take on more risk by LPing because of impermanent loss, the amount of xVSO distributed to LPs is higher, compared to the other two options.
- Have VSO staked in the Stake-and-Lock pools If you have staked VSO in one of our current stake-and-lock pools at the time of xVSO’s launch, you are also entitled to receive xVSO.
The Fuel Vault ⛽
Every station needs fuel. Liquidity providers for the VSO/AVAX pools across exchanges are fundamental for the sustainability of the Station. Therefore, if you stake your Trader Joe or Pangolin LP tokens in the Fuel Vault, you will also accumulate xVSO at a much higher rate than single-sided stakers in the Crew’s Vault.
Akin to how CRV emissions towards LPs work for veCRV holders in Curve, in order to receive your share of the distributed rewards, you still need to single-side stake VSO in the Crew’s Vault. The Fuel Vault acts as a booster for your xVSO count.
The Fuel Vault will be the first to launch next week.
All the calculations for xVSO accrual for each participant will be outlined with examples in our GitBook this weekend.
We will provide more details on the revenue distribution mechanics via the Crew’s Vault (including how the contract is funded after sales are made) in a coming article, so keep an eye out for our announcements on our social media!