The Balance team is pleased to announce the launch of the USDB Investment Vault with Takepile for the general public. As you know, we shared the novelty concept of Liquidity Vaults a few days ago and outlined the critical benefits for DeFi protocols and investors seeking stable earnings. If you are still unsure what the Vaults are, please have a quick read.
In short, Vaults are platforms through which DeFi protocols can access capital and for investors to earn handsome rewards.
In this article, we would like to provide a detailed guide to using USDB Takepile Vault as an investor and earning up to 30% APR in USDB stablecoin.
Navigate to USDBalance website and click on Vault in the main navigation.
Separately, you can also access Vaults from the link: https://www.usdbalance.com/vault
Ensure your wallet is connected to our dapp and is on Fantom Opera Network.
On the first day of launch, we have introduced the USDB investment vault with the Takepile protocol.
The overview of all the Vaults shows up on this page and investors can learn about the status and the amount of capital the DeFi protocol is seeking to raise, the APRs for the investments, the lock duration on the investment as well as associated currencies.
USDB Takepile Vault offers 30% APRs for the lock period of 182 days - in USDB stablecoin.
Click Open to continue
On clicking the Open button, investors will be redirected to the Takepile Vault page.
To inform investors about the DeFi protocol, which in this case is Takepile, we have compiled a list of relevant information.
Notice the lock duration freeze time and repayment time in the screenshot below. The lock duration countdown starts on the declared freeze time. Before the freeze time, investors can deposit as much of their USDB as they prefer. After the freeze time, the Vault is locked for any further investments.
Click on the Deposit button and provide the amount of USDB to invest in the Vault.
Now, click on the Request Allowance button.
Confirm giving permissions for the Balance dApp to access your USDB on Metamask wallet.
Finally, click on the Deposit button on the flyout modal.
Confirm the transaction on Metamask wallet.
At the end of the lock duration, Vault will pay back the initial investment as well as 30% APR rewards in USDB stablecoins.
Note that once the fundraising period has passed, the total financing provided by investors will be provided to the vault creator’s wallet, and the receipt tokens will be issued to the investors representing their share of the Vault. The receipt tokens will be a tradeable and transferable NFT. Also, the vault creator will not be able to access the funds until this point in time.
The Balance Ecosystem encompasses a wide range of innovative products and projects that are and will be operating in various areas of DeFi and Web3 technology.
Balance is poised to build bridges between the theoretical and practical sides of finance so that there is a means by which we can provide real-world solutions and create value-driven products within the web3 space.