What is EOS Vault and How to Use it?

Dmd.finance just announced the official launch of EOS Vault. Its previous Beta testing started on October 2, with a 200 EOS limit of every single account to invest, and a total pool cap of 100,000 EOS. Within two days after the Beta test launch, the Vault had reached its maximum pool size.

What is EOS Vault?

EOS Vault is a vault that use EOS to earn more EOS, the token that earned will be added to the vault. The vault will choose the best strategy to help earn token and convert it into EOS.

As we introduced above, dToken will empower the original token and EOS Vault will bring more value to the EOS token. And we are here to bring these two together, the dEOS and the EOS Vault.

Initially, if you stake your 1 EOS to EOS Vault, the contract will issue 1 dEOS to your account. And if you return 1 dEOS to the contract, it will burn 1 dEOS and return 1 EOS to your account.

As time goes on, the vault will earn more EOS and put it into the vault, your dEOS’ value is larger than 1 EOS. Meanwhile, you can’t get 1 dEOS when you stake 1 EOS to the vault, but there is no loss.

With the completion of stage 1 of DolphinSwap, we will provide a EOS/dEOS LP pool for all dEOS holders.

With this liquidity pool and dEOS:

1. You can enjoy the profit of the EOS Vault.

2. You can use your dEOS to swap to any other token on EOS.

3. Token reward (like DOP or HUB or DFS) from providing liquidity.

4. You can use dEOS to lend USDT and other tokens on Pizzalend

What is dToken?

dToken is a token that reflects the original token on EOS. And its price will be 1:1 if there are no other factors.

dToken aims to solve the problem that when you stake your tokens, your tokens are frozen and cannot be circulated. With dToken, you can get both the staking reward and use it as the original token.

How to use EOS Vault when the official version launches?

Unfortunately, EOS Vault has reached its pool size cap in its Beta stage currently and users are not able to participate at the moment. However, we expect it to release the official version soon. Here is how you use EOS Vault with TokenPocket Wallet.

  1. Login to TP Wallet and switch to EOS as the underlying asset. Go to [Discover] and select Dmd.Finance or search it in the search box.

2. Tap on [Vault] -[Select]- [Enter the amount of EOS you want to deposit]-[Deposit]. Approve the transaction and you will see the dToken you get.

3. You can return the dToken and get your EOS back by tapping on [Withdraw]. You will be able to get your EOS back anytime as long as if there is sufficient balance in the withdrawal pool. And a 0.1% anti-whale transaction fee will be charged for each withdrawal.

During the Beta testing, the withdrawal will take 4 days.

dToken Ecosystem

With the above illustration, I’ll briefly explain the dToken ecosystem.

  1. Users deposit EOS to the Vault in exchange for dEOS. To return the dEOS, users will get the EOS back with interest.
  2. By depositing dEOS to the Gauge, users will get extra rewards.
  3. Users are allowed to participate in EOS and dEOS market making to gain liquid mining rewards and support the swap of dEOS and other tokens.
  4. Participating in the frictionless market making can bring users liquid mining rewards, which will be deposited to the Vault, DMD-DAO, and others proportionately.
  5. The EOS tokens in Gauge will be used to
  • Support liquidity with Gauge
  • Conduct investment on third-party platforms according to its strategies
  • Node voting
  • Node voting

6. Delegated voting conducted by a trusted delegate which supports dToken ecosystem

  • Voted by super representatives elected from DMD-DAO
  • 90% of the rewards generated by voting will be charged to the Vault and 10% will be used to buyback DMD.
  • Among the 10%, 6% will be up to DMD-DAO for the use like supporting the development of EOS ecosystem, 3% will be allocated to the foundation, and 1% will be used for strategic development.

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