I wanted to share my first experience with defi, and the token I chose to start with, so that others might feel emboldened to try it themselves. I was recently looking at Crypto.com (CDC from here out) when I noticed that they had a token called VVS Finance that is earning ~78% APY at the moment, with 28 day staking periods, so I decided to jump on it. I had previously set up my CDC Defi wallet, so all I need to do was fund my wallet with a little CRO to pay for transactions. That was done easily by transferring it from my linked CDC app account, with this method there is no need for Metamask and the fees are cheap unlike with ERC-20 / BEP-20 tokens. As you can see, this coin is still fairly low with regard to market cap and volume and could be that token that blasts off, and I feel that since it is associated with CDC and the Cronos chain, it has incredible potential to do so.
Built on the low-fee and high-speed Cronos blockchain, VVS Finance leverages proven and audited protocols. It stands out with a comprehensive and rewarding incentive program, powered by its governance token with the ticker of VVS.
Different stakeholders of VVS Finance can benefit in multiple ways:
Liquidity providers (LPs): ⅔ of swap fees collected are distributed to the LPs of the respective pools. Those who stake eligible LP tokens in the “Crystal Farm” tab will receive VVS rewards.
VVS stakers: Those who stake VVS in the “Glitter Mine” tab will receive VVS / partner token rewards.
Trading incentives: Those who swap tokens on VVS Finance will receive rewards (details to be announced).Referral program: Those who refer users to trade on VVS Finance will receive rewards (details to be announced). In order to sustain rewards for the contributors and users of VVS Finance, a significant portion of the VVS supply is earmarked for future community initiatives.
Litepaper: https://docs.vvs.finance/litepaper
Essentially, the goal is to create a moderately more stable defi investment vehicle and make it easier to access, which is right up my alley, being that I'm still pretty new and the defi space is confusing for anyone who isn't already well-versed. If you'd like to sign up for CDC feel free to use my link and we'll both get a bonus:
https://crypto.com/app/z23eyern9s
As always, stay safe, be patient, and don't just HODL, stake it too!
