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Vaults
The intro page for Vaults - explaining their function and benefit
Vaults on the VyFinance platform allow users to earn a variety of tokens by staking CNT tokens or VYFI NFTs
https://app.vyfi.io/vaults
Why have NFTs locked?
This adds to the utility of the vaults. Locked staking implies that those tokens are temporarily out of circulation. This results in scarcity on the markets, affecting the price and inherent-utility of the token.
How are tokens made are available?
All tokens are either provided by the company they are for, or bought on the open market by the staff.
What is an IFO?
IFO means Initial Farm Offering. It is a method of disbursing tokens into circulation via Farm/Staking rewards. The "I" in IFO implies that this is the first distribution, the very first time the tokens are entering circulation.
That being said, IFOs can occur alongside an IDO (Initial DEx Offering, listing the token on a DEx), an ICO (Initial Coin Offering, Selling the token direct from the company), and other offerings, such as an ISPO (Initial Staking Pool Offering, tokens are rewards from staking to the related pool).
Last modified 6mo ago