Elastic Vault Officially Opens; DAO Sets Goal of 500,000+ AMPL in Vault Deposits Within 30 Days

Today marks the official opening of the Elastic Vault. The Elastic Vault enables Ampleforth (AMPL) stakers to put the asset to work and earn yield during all AMPL rebase phases. The DAO’s goal is for the community to deposit 500,000+ AMPL into the Elastic Vault within the next 30 days. If this goal is met by April 24, 2022 at 23:59 UTC, the DAO will provide AMPL stakers with a bonus reward of 500 EEFI. Join the AmpleSense team for a Twitter Spaces about the Elastic Vault on March 31, 2022.

Today, after more than a year of work and preparation, we are pleased to announce the official opening of the AmpleSense Elastic Vault. The vault’s primary objectives are to allow AMPL stakers to:

  • Hedge against negative AMPL rebases and earn yield in the form of Elastic Finance token (EEFI)
  • Earn 2x EEFI yield during neutral AMPL rebases
  • Benefit from a deflationary token EEFI, which is purchased and burned by the vault, and earn ETH rewards during positive rebases.

The Elastic Vault was audited by Omniscia, a well-regarded blockchain security firm specializing in helping startups and enterprises design, build and secure complex decentralized networks and applications.

Our initial goal is for the community to deposit 500,000+ AMPL in the vault over the next 30 days. The vault currently contains 150,000+ AMPL. Higher AMPL staking levels equal:

  • Increased EEFI rewards
  • Greater EEFI buys and burns during positive AMPL rebases

If this goal (500,000+ AMPL staked in the Elastic Vault) is met by April 24, 2022 at 23:59 UTC the DAO will provide AMPL stakers with a bonus reward of 500 EEFI.

AMPL holders can:

Twitter Spaces: Finding Success in AMPL’s Age of Utility: March 31, 2022 at 8:30 p.m. Eastern

Join the AmpleSense DAO team with special guest Nestor of AMPLCast, for a Twitter Spaces titled: Finding Success in AMPL’s Age of Utility. The event will take place on March 31 at 8:30 p.m. Eastern. We’ll focus on how the Elastic Vault helps the Ampleforth ecosystem, and how to use other AMPL-focused utilities, such as lending and borrowing. Follow the DAO’s EEFI Twitter account to join the event.

Mini Elastic Vault FAQ

Below are some commonly asked questions about the Elastic Vault.

Why Should AMPL holders use the Elastic Vault?

Traditionally, AMPL holders have purchased the asset and waited for AMPL to enter a positive rebase period.

Today, with the official launch of the Elastic Vault, AMPL holders can do more than just than “buy and wait.” By depositing a percentage of their AMPL portfolio to the vault, they can earn yield during all phases of the rebase. 

  • During neutral and negative rebases, the vault delivers rewards in the form of EEFI.
  • During positive rebases, the vault provides AMPL stakers with ETH rewards. In addition, a portion of the new AMPL tokens generated during the positive rebase are sold to buy and burn EEFI from the market. This means AMPL stakers and other EEFI holders can benefit from EEFI’s deflationary supply mechanic.

AMPL deposits are locked in the Elastic Vault for 90 days to enable the vault to operate.

Do AMPL Elastic Vault stakers lose exposure to positive rebases?

Yes. In order for the vault to function, AMPL deposits are locked for 90 days. AMPL stakers do not have access to the full positive rebase.

However, the vault provides downside protection (delivering EEFI yield during negative and neutral rebases) and exposure to a deflationary reward token (EEFI) — in addition to ETH rewards.

Can I deposit other assets into the Elastic Vault?

We have developed additional liquidity and “Pioneer Vaults” where holders of the following assets can stake to earn rewards:

  • EEFI/ETH LP Tokens: Liquidity for the EEFI/ETH pair on Balancer is essential to vault operations. To incentivize liquidity, EEFI/ETH liquidity providers can stake their LP tokens to earn EEFI and ETH rewards – Learn more about providing EEFI/ETH liquidity here
  • kMPL/ETH LP Tokens: Holders of kMPL/ETH Uniswap v2 liquidity tokens can deposit them into the Pioneer Vault III staking pool to earn EEFI and ETH rewards. Note: From March to August 2022, kMPL/ETH LP stakers will earn 2x EEFI rewards – Stake kMPL/ETH LP tokens here
  • kMPL Tokens: Community members can stake kMPL the AmpleSense governance token) to earn EEFI and ETH rewards – Stake kMPL here

Are there any strategies I can use to optimize my experience with the Elastic Vault?

We have developed a detailed strategy guide. Access it by clicking here.

Did the Ampleforth team develop the Elastic Vault?

No. The Elastic Vault was developed by the AmpleSense DAO, an independent community-led organization. However, the Ampleforth team is aware of the vault and congratulated the DAO on its development.

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