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.

Considerations

Beefy’s Venus implementation is a relatively poorer…

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.

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.

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…

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.

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.

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/

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.

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.

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…