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Vector, what is it and how do I use it?

Avr 16, 2022
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Vector, what is it and how do I use it? Vector allows users to generate boosted returns on their stablecoins.

Vector

Vector Finance is a protocol that integrates synergistically with Platypus Finance. Vector allows users to generate boosted returns on their stablecoins, even if they don’t own a PTP.

In the context of the hot DeFi news, we could not ignore this incredible protocol.

This protocol is able to do this by aggregating PTP from users who choose to convert their PTP into xPTP. In doing so, Vector also unlocks utility for the PTP token: users who convert their PTP into xPTP receive ~66.6% of all yield generated by the protocol. This allows for better capital efficiency and a more diverse user base for Platypus.

Vector Finance magnifies your stablecoin yields

VTX (Vector’s governance token) receives a share of Vector’s revenue (~33.3%) and unlocks the highly sought after voting power from PTP holders who may not be as concerned with governance. VTX is rewarded to xPTP stakers, stablecoin depositors, and liquidity providers.

Vector, more details:

Through this ecosystem, users have the ability to convert PTP to xPTP. Once converted, the protocol automatically places it on the Platypus platform. By staking this PTP, the platform accumulates vePTP.

The accumulation of vePTP allows this protocol to offer attractive stablecoin returns to depositors.

The stablecoin returns will be higher than the base returns on Platypus, due to the vePTP balance we will have accumulated.

The platform, similar to Convex, will charge a performance fee of 18% for all stablecoin returns generated.

The majority of this performance fee (~66.6%) will be redirected to xPTP holders, giving the xPTP token significant value. The remaining performance fee will be redirected to users who stake or lock VTX.

VTX is the governance token for the Vector protocol. VTX will be used to help incentivize PTP conversion, stablecoin staking, and liquidity providing.

How to use Vector?

Earn higher rewards in PTP and VTX

Vector allows users to deposit stable currencies and earn increased returns on the Platypus platform, without having to stake their PTP and worry about accumulating vePTP.

Depositors can take advantage of a large vePTP balance and use it to earn increased returns in PTP and VTX.

Direct access to the official website


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