ve8020 Mechanics
Last updated
Last updated
Inspired by Radiant, our $yPLX token creates better liquidity depth, increased token value, and more utilities.
We believe the ve8020 model is superior to single-sided governance token staking in many ways, in terms of token price appreciation, creating deeper and stickier liquidity, and value alignment across various participants.
Increase APY on all deposits across the platform.
Capture platform fees
Randomized airdrops
Access to exclusive vaults and future unannounced features (something big coming in Q3)
Increase your APY as other $yPLX holders unstake
Users deposit 80/20 PLX/WETH on Balancer
Receive Balancer Pool Tokens (BPT) tokens
Deposit BPT on Parallax’s staking page.
Set timelock duration for BPT and receive $yPLX
With deposits made into strategy vaults, users would get increased APY on all vaults, platform fees, airdrops, and bonus features.
If users want to unlock early, users will be subjected to a penalty, which will go to the remaining stakers.
We hope to further incentive the 80/20 Balancer Pool with our participation in the Balancer and Aura wars to lock $BAL and $AURA governance tokens. This will translate into more boosted rewards in the future.
Let’s compare the APYs on LSD vaults:
Regular LSD vaults — 6–8%
Parallax’s LSD vaults — 12.5%-14.5% (no lock)
Boosted Vaults (if users have $yPLX) — 20% to 30% (same vault but with locked yPLX)
The same goes with all other vault strategies available on Parallax.
Users can generate an additional 300–400% on their LSD assets just by depositing on Parallax via safe and audited vault strategies.
