we have YFV token with governance and staking functions also capped at 3.8m supply. Now VLT token, what is this? Is it not enough to have vUSD and vETH for yield farming rewards? Since VLT can be swapped to YFV 1:1 it is basically same token and actually diluting YFV token to +3m, i.e. 6.8m supply. Or am i missing something? Imo early investors in YFV token should have special treatment, don’t they?
It seems it will act in the same way BPT does as a liquidity token whereas YFV is a governance token. From what I can tell YFV is building out an entire ecosystem and DEX on their platform similar to what Balancer/Uniswap has set up. Isn’t being an investor in a project similar to those, being able to farm pools with massive rewards special treatment enough? We’re so early into crypto and DeFi that if this is successful I would expect this to be a multi billion dollar project. Being early to something like that takes foresight and vision, esp with all these YFx projects popping up that are just a quick money grab when it seems YFV is the real deal and is actually building…not just offering low token supply for a promise of a quick 100x with no real value underneath. Many of those projects are a Lamborghini with no engine under the hood, YFV looks like it could be a fleet of Lambos, engine and all.
I think the whole plan will be revealed to us soon. A glimpse of the plan can be seen on the Devs last update. I am excited on these plans.