How to deposit on Vyper Vaults — plus our open call for users’ feedback!

Hello dear reader, welcome to Vyper Vaults! We recently announced our devnet and are extremely excited that you are here looking forward to trying it out. The devnet is a safe environment where no real money s deployed. Feel free to play around with everything Vyper Vaults has to offer, feel free to break things and — most importantly — feel free to use the platform in ways we have not thought of.

We see the devnet as a great way to better understand what users are looking for, as such, we have prepared a form that you can use in any moment to provide feedback on Vyper Protocol.

We are looking forwards any kind of feedback, about UI, about the protocol itself, about the general experience when using the website, about the way risks are displayed, about anything really! We want feedbacks to be as critical as possible, yet constructive.

Step 1.
Head over to https://vaults-devnet.vyperprotocol.io and select your favorite vault according to your risk-appetite and the assets you own. In this example I will pick the Pool_1 SOL-USDC Leveraged Vault. If you don’t know which Vault is best for you head over to the “How to choose the right Vault” section below. Pool_1 is just the placeholder to indicate the protocol on which the funds will be deployed (e.g. Raydium, Orca, Atrix, Aldrin and all the others).

Vyper Vaults — Homepage

Step 2.
Connect you wallet and press the “Airdrop” button to receive your devnet LP tokens. In Mainnet, you will be able to either input LP tokens or native tokens directly (like SOL and USDC).
Reminder: if your wallet is new or has no SOL balance, top it up as you will need few fractions of cents to pay for the tx fee (airdrop here)

Vyper Vaults — Airdrop LP tokens

Step 3.
Choose the amount of SOL-USDC LP tokens you want to deposit. Click on “Deposit” and confirm the transaction. Done!

Vyper Vaults — Detailed Page

Let’s dive a little bit more on what’s in the Detailed Page View.

In Section 1), we have all the details about our deposit, like the Deposit Pending (what has been deposited and will be deployed into the destination protocol at the beginning of the epoch) or the Total Vault Tokens (what the user has deposited and is already deployed in the destination protocol). The Deposit Summary is a human readable explanation of timelines and payoff involved with the strategy.

In Section 2), we have the timelines for the deposit and the deployment of the strategy.

In Section 3), we have the key indicators like current market price of the asset, the platform where the funds will be deployed and the key risk parameter of the strategy, which can be either the Max Leverage (the max leverage the farming strategy can have — no path dependency risk) or the Protection range (range of price within which the user IS NOT affected by any Impermanent Loss)

All the parameters are totally customisable and once in Mainnet there will be multiple Vaults with different risk-reward and duration setups.

Vyper is a protocol that allows users to split risk and reward according to their preferences. In this way, Vyper brings to the market a whole new set of DeFi products gathering to both users who want more protection (and less returns) and those who want more returns (and less protection).

The Vyper exchange mechanism

In relation to yield-farming, users can choose to deposit into Vaults offering protection from Impermanent Loss (PROTECTED) or selling the protection against Impermanent Loss (LEVERAGED).

In short, the PROTECTED Vault will pay a % of its farming rewards for protection to the LEVERAGED Vault, who will in exchange pay the PROTECTED back if — and only if — there’s any Impermanent Loss.

As such, if you wonder what is the best Vault for you you need to take two elements into account:

Which assets do I own and on which platform am I currently farming?

What is my risk appetite? Do I want to have Impermanent Loss or not?

Answer to Q1 will determine the asset and answer to Q2 will determine the side (PROTECTED/LEVERAGED).

By reading this article you now understand how to deposit and use Vyper Vaults, as well as how to pick the right Vault given your personal preferences. So it’s your turn, head to https://vaults-devnet.vyperprotocol.io, unlock the power of DeFi and let us know how was your experience.

Also there is a rumor that users providing us with their thoughts could unlock something special when mainnet is live, so don’t forget to do that.

Official Website: https://vyperprotocol.io/

Twitter: https://twitter.com/VyperProtocol

Discord: discord.gg/DuXVSgjmuW

Github: https://github.com/vyper-protocol

Telegram channel: https://t.me/vyper_protocol

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Vyper Protocol

A DeFi primitive allowing users to create, trade, and settle any kind of on-chain derivatives 🐍 vyperprotocol.io