Ok all, it’s time for the big news about the new features that we could only tease until now.
First of all, we’re making our swap fees adjustable between 0.10% and 0.16%, as a way to make sure that we always have flexibility to achieve a balance of the lowest possible swap fees paired with the deepest liquidity to drive more trading volume in a capital efficient manner, especially from 1inch and the various other DEX aggregators. We will of course keep it set at 0.16% as often as possible, we will only set it lower if the economics work out that temporarily lower fees will actually bring us more volume and dividends than higher fees. This allows us to ‘price’ the market efficiently over time.
To achieve deep capital pools, we need a lot more liquidity, and vaults are a great way to gain large amounts of liquidity from those who prefer the auto-compounding route to standard farming and harvesting. People investing should be able to allow their capital to work efficiently for them, without requiring constant attention from their side.
Initially the vaults will be centered around U92 with an innovative dividend accumulator, LP enhancer, and auto-compounding pools. After the release of the U92 vaults, we’ll be adding more Uranium and non-Uranium DeFi strategies.
The benefit for U235 holders and the ecosystem is that a portion of the profits from these successful strategies will feed into future moneypots and dividends
0% Farms / Moving forward the Roadmap:
All farms during the next phase will have 0% deposit fees.
New deposits into our 4% farms have essentially stopped altogether, as happens with farms as they age and move out of the initial bootstrap phase of liquidity so there’s no point in keeping them. Our primary goal now is to attract more liquidity to get more trading volume coming through from both directly on Uranium and via volume aggregators like 1inch.
The various other changes with this migration to streamline our changes are:
- Building the groundwork for our other new features which are coming very soon!
- We continue to roll out additional pairs to the AMM, as we systematically build up liquidity (LINK-BUSD will be the first of many in V2.1), all with 0% deposit fees
- We’re removing the BUSD and WBNB single token pools but will bring back single token staking in the future once vault strategies have been implemented to allow them to add value to the uranium ecosystem (this is one of the most interesting problems and in time our solution may surprise people)
- Overall upgrades to optimize efficiency, performance, and scalability for the future.
V2.1 LP Migration:
In order to make the addition and function of the new vaults and our upcoming new features as smooth and efficient as possible, we’ve decided to migrate our current LPs to new V2.1 pools with various upgrades. We know it’s only been 11 days since our V1->V2 migration but with the 1inch listing, new features and therefore new growth we’re expecting in the near future, we’ve decided that it’s best to get these upgrades done now rather than later. The fact is its easier to make changes today with under 100m of TVL and a focused and dedicated community that understands this process than in the future when we have started our upcoming marketing campaigns and the numbers are dramatically larger and people are then actively utilizing Uranium as core infrastructure of DeFi on BSC.
The easy parts, if you hold U235 or have U92, BUSD or BNB in the pools you don’t need to do anything, there is no migration required. Having said that, BNB and BUSD single token pools are being sunset and will have rewards end on May 1, 2021. We will be excited to share our new single pool options next month.
Now the harder part, to enjoy the benefits of the new upgraded variable swap fee LPs all deposits in LPs will need to be taken and reformed into new LPs.
The details for the updated farms are below and as highligted all now have 0% deposit fees and enhanced rewards multipliers as below:
U92 Pool x8
Just after the publication of this article, all the transactions with the upgraded code will be pushed into the 24hr Timelock (9 transactions for initializing the new farms and 14 transactions deactivating the rewards from the old farms).
After 24hrs (the 28th April 2021 at 5am UTC):
- app.uranium.finance and swap.uranium.finance will be updated and will take you to the new V2.1 pages
- New menu available: V2 farms, on which it will be possible to withdraw (only) for the user
- New menu available: V2 swap, on which it will be possible to break the old LPs (will send to legacy-swap.uranium.finance)
- New V2.1 farms are initialized
- A few minutes after the new farms a live, the old farms will be deactivated — during this few minutes, both the old and new farms will be active, so every farm will give only half of what it should
For all our users, the moving of LP from the V2 to V2.1 farms is incredibly simple.
All you need to do is:
1. Withdraw your LP from the V2 farms
2. Unbind/break the V2 LP on legacy-swap.uranium.finance
3. Go to the V2.1 swap page — swap.uranium.finance
4. Rebind/create your LP
5. Deposit the new V2.1 LP in the new farms
The whole detailed procedure will be put with all the needed links on https://lp-update.uranium.finance
As you can understand, we had a lot of debate internally if we do this upgrade now or we wait given how crazy the last one month has been. The reality is DeFi waits for no one and we know completing this upgrade now secures Uranium a potential runway for infinite growth through getting our Vaults live and implementing dynamic low swap fee liquidity pools that will super charge rewards to token holders and users of Uranium.finance. In order to make it as smooth as possible, we have prepared an action plan to simplify it and to provide you with the best possible support, we thank you all for accepting this chaos but working with something as volatile as Uranium is never easy :)
1. For those who have joined the V2 pools in the last 48 hours, we are aware that this news isn’t in your favour. For this reason and because we want to take care of our community, a specific compensation plan will be made available to you, we will communicate very soon on this subject, but know that we intend to try and make sure the transition is profitable for all.
2. In order to reduce costs associated, we have chosen to keep gas costs to a minimum during the transfer phase. So the fees will be reduced from 0.16% to 0.10%, which is the lowest fee we can set.
Our entire support team will be available in our TG to help you make the best possible transition to the future of Uranium.
We’ve also decided to reschedule the AMA with cryptoDAKU which was initially set for 27th tuesday at 2PM UTC so that we can announce the rollout of the upgrades including Vaults alongside.
Thank you for bearing with us in what will be our last migration for a long time we promise!