But first, a short backstory.
We first launched in July 2019 into one of the harshest bear markets ever seen, and we’ve always had people suggest we should as a community be funding large centralized exchange applications and listings, which on the surface may sound super wonderful, simple and good for everyone, right?
Wrong. While centralized exchanges (CEX) can offer many benefits over P2P or Atomic Swap based trading, they are far inferior in areas such as personal security for users, privacy and especially cheaper use with less middlemen along the way.
We have always focused on a more grassroots, community based approach that respects all users and not simply the day traders, miners or any other specific group of individuals. We always strive to provide benefits to the entire community that are not only logical but as fair as can be for everyone included.
Fast forward to October 2020, where it became glaringly obvious that DeFi provided a path to bypass many of the things mentioned above by simply allowing users to use a peer-to-peer swap based platform without KYC that respects the users right to privacy and self custody, all without obscene listing fees and rigged voting contests.
We soon realized the massive opportunity that DeFi could be for curing one of our main side effects of being a community project that declined to spend many thousands worth of time and more importantly, DVT, on possible exchange listing goose chases.
What is $wDVT and how do I use it?
$wDVT (click to view contract on BscScan) is a tokenized aka wrapped version of the DeVault coin that resides on the DeVault Blockchain. This token is a 1:1 representation of the DeVault ecosystem that allows users to take advantage of the Binance Smart Chain network to trade, farm, provide liquidity and any other fun technology this space can come up with. The price (similar to tether and wBTC, although sometimes can vary a tiny %.) and supply will remain in line with the DeVault blockchain via partners such as HyperJump & SouthXChange(and you?).
wDVT Wallet on SouthX: https://main.southxchange.com/Balance/Index/WDVT
Note: If you are swapping 1 million or more DVT, please attempt to manually swap via admins in Discord to avoid requiring large DVT/wDVT walls on a CEX for now.
HyperJump Direct Swap Link
https://swap.hyperjump.fi/#/swap?outputCurrency=0xa47d132bfc00bc7b1b99238e08b91f1a08ccdbf3
How will it work?
Simple. IF you would like, it is not required, but if you would like you can easily change your DVT coins into wDVT tokens simply by depositing them to SouthXChange and selling them into the DVT:wDVT (there are no fees on this pair!!) pair. Larger holders are asked to ping the DAO for large swaps as to avoid tanking the pairing and will also help us avoid keeping many many millions of wDVT on SouthXChange, just in case.
wDVT/DVT Pair URL: https://main.southxchange.com/Market/Book/wDVT/DVT
Note: If you are swapping 1 million or more DVT, please attempt to manually swap via admins in Discord to avoid requiring large DVT/wDVT walls on a CEX for now.
How do I use wDVT?
We have partnered with HyperJump.fi (prev. THUGS.FI) to bring $wDVT to the Binance Ecosystem and will be launching it on the HyperJump platform. This initially will just include the HyperSwap AMM and we will slowly expand the offerings as we see fit to best educate and facilitate this new aspect of the DeVault Ecosystem in a way that makes it digestible.
If you are not sure how to use MetaMask (this is how you can store $wDVT and get a $BSC address), or do not understand things like GWEI and Gas please do a bit of reading or watch a couple YouTube videos because there is a bit of a learning curve for everyone at first but its very manageable.
Start Here: How do I use BSC on MetaMask?
What's next for wDVT?
After the 1:1 tokenization is live and performing well we can turn out attention to the other areas of interest such as Liquidity Providing, Farming aswell as increasing incentives for trading both wDVT & DVT. We also have a secret plan we are working on, slowly, which currently has no announced launch time but lets just say solidity is alot easier than core development… and fun!
What will happened to DVT blockchain and coin? Is this the end for us all? Nope.
We will continue to build and operate the main DeVault Chain, wrapped DeVault is meant to serve as a decentralized liquidity bridge, help support the network with cross chain compatibilities, more access to traders and more on and offramps in general. wDVT also provides many more opportunities to grow the DeVault Ecosystem than simply focusing on core blockhain development all the time, which can prove very costly and taxing on the people building the project which in turn requires more developers and time to be invested overall. Without large budgets this can be a very difficult environment to succeed in, so leveraging DeFI movement as a stop gap for many of those issues will prove beneficial for the DeVault blockchain, community & ecosystem overall.
What questions do you have for us?
Drop into Discord, Telegram or tag us on Twitter @DeVaultCrypto with your questions!
Other links of importance may include:
DeVault.cc, HyperSwap, HyperJump.fi, SouthXchange, Graviex, Mine DeVault (sha256), Cold Rewards, DVT Coingecko, DVT CoinMarketCap, DVT CoinPaprika
