ACryptoS Farms V2 brings an exciting new feature to the protocol, allowing ACS Vault holdings to be used to boost ACS rewards by up to 2.5X. It also addresses a long-standing user gripe and staking/unstaking now no longer automatically triggers a harvest (and harvest fee).

Image for post
Image for post
Photo by jean wimmerlin on Unsplash

Phase 0

The SFP-BNB Vault&Farm and LTC Vault&Farm were the first Vaults on Farms V2 to go live on 10 Feb 2021. We completed a successful audit with Hacken on 21 Feb 2021. We now have 15 Vaults on Farms V2 with more than $25M TVL.

Phase 1

We will migrate the UNFI-BNB Vault to Farms V2 from 5–8…


ACryptoS Vaults and StableSwap to be integrated into DefiYield’s cross-chain asset management platform

Image for post
Image for post

We are proud to announce that leading defi platform and community DefiYield.info has successfully completed a comprehensive audit of our project, and have awarded us with their Low Risk rating.

We will also be integrating our Vaults and StableSwap into DefiYield’s cross-chain asset management platform, and are going to cooperate on developing and growing our communities together going forward.


We were the first to launch Vaults farming on Venus Protocol, and remained the only ones for 3 weeks after, accumulating a TVL of more than $2M in our Venus Vaults alone. We have published all our smart contract code before, but we did not publish the source code of our Venus Vaults’ Strategies at first, as I was curious to see how much of a competitive edge it would give us. Now that Beefy has released their Venus Vaults, we should now review if we would like to publish our source codes.

Image for post
Image for post

Considerations

Beefy’s Venus implementation is a relatively poorer…


How to fully repay your borrow balance and redeem your supply balance on Venus Protocol by interacting directly with its smart contracts

I see users have been complaining about this since Venus launched, and I thought it would have been a quick fix by the Venus team. But since it’s already been 2 weeks, hopefully this quick guide will be helpful.

Image for post
Image for post

Repaying your borrow

Step 1 — Go to the smart contract of the vToken you want to repay on BSCScan

One way to do this is to try and borrow or repay on the Venus app and copy the address that MetaMask tries to interact with.


Could an attacker with $2M steal everything in the protocol?

Summary:

  • Collateral factor is currently set arbitrarily at 60% across all supplied assets, including XVS with an $11M market cap. Venus currently has $127M of TVL.
  • The collateral factor of supplied assets is used to determine the borrow limit of a user. However, the minting limit for VAI is determined by a different, independently set “collateral factor” (“VAI Mint Rate”), originally set at 50% and recently changed to 60%.
  • This flawed implementation impedes effective risk management of the protocol, needlessly exposing users to market risk and/or preventing full utilisation of the liquidity of lower risk assets.

Recommendations:

  • Perform an immediate risk assessment…


How to yield farm using a single token with leverage on Venus Protocol through direct smart contract interaction.

Swipe’s Compound and MakerDAO clone has just gone live on Binance Smart Chain, offering XVS incentives to users who supply and borrow assets on their protocol. Let’s review the different yield farming options we have here.

Image for post
Image for post

Strategy 1: Simply supplying assets

Difficulty: Easy
Risk: Low

Probably the safest and most straightforward strategy is to simply supply assets to the protocol to earn interest and an XVS reward, currently giving you a combined APY of ~1–35%, depending on the asset. Your risk is mostly smart contract risk in the Venus Protocol, and liquidity risk if somehow the protocol becomes undercollateralized.


First pool is live, offering trading between BUSD, USDT, DAI and USDC

We are proud to introduce the first and only Curve clone on Binance Smart Chain, enabling fast and efficient stablecoin trading at the best prices with low slippage and fees.

Our first core pool is live, offering trading between BUSD, USDT, DAI and USDC here: https://app.acryptos.com/stableswap/

Image for post
Image for post

Cheaper Better Faster

Exchange fees are set at 0.04%, ~10X cheaper than the >0.3% charged by all the other UniSwap and SushiSwap clones, and slippage is typically ~100X smaller. All this is thanks to Curve’s specialized algorithm tailored for trading of stablecoins and other pegged assets.

Trading on Binance Smart Chain also means gas costs up to…


I exploited the SYRUP bug on 3 November 2020. I regret it very much, and would like to return all the gains I made from it.

Sorry, #BSC community. Please forgive me.

Image for post
Image for post

What happened?

On 3 November 2020, I noticed a suspicious transaction to the PancakeSwap timelock, removing the timelock from their MasterChef contract. I looked deeper into it, and discovered that there was a bug in their SYRUP contract that allowed anyone to mint unlimited amounts of SYRUP. I immediately reached out to the team about the bug, but got no response.


Image for post
Image for post

We’ve been working on a new project called ACryptoS Vaults, which is essentially a Yearn clone on Binance Smart Chain combined with SushiSwap farming mechanics. The project is less than 2 weeks old, and we have been testing and improving it within our small telegram group. We now feel it’s ready to be shared a bit more widely.

Automating yield farming

We’ve currently got 7 Vaults farming on PancakeSwap where you can deposit CAKE or Cake LP tokens, and the Vault will farm and compound CAKE for you, automatically swapping the farmed CAKE for Cake LP tokens when necessary.

Concurrently farming ACS

Depositing in the Vaults…


The way new farms are currently added on PancakeSwap makes it unfairly profitable to those who are able to stake first. Getting in first means you get 100% of the rewards allocated to the farm until others can join. Yes, the devs can make it more fair. But instead of waiting on them, I will do my part by sharing the knowledge on how to to be the first into these new farms, getting in even before they are added to the PancakeSwap app by interacting directly with the smart contracts on-chain. …

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store