Greetings, numans! It's been a long time coming, but we're excited to announce that vault 2.0 and lending will go live on Arbitrum main net next week!
Process
We will post a follow-up announcement the day before vault 2.0 launches and right when the process begins, so that our community can track the progress.
Pause vault 1.0
Deploy vault 2.0
Remove rETH from vault 1.0
Deposit rETH into vault 2.0
Unpause vault 2.0
Publish new app
Audits
We've added a page to access our audits here.
Review of Features
Vault 2.0 was developed to enable lending and leverage, which would not be possible with the first version of the vault. With lending, users are able to borrow the rETH-backing of their NUMA tokens without fees or interest in normal conditions, freeing up liquidity while maintaining exposure to the NUMA token. Additionally, vault 2.0 enables the dynamic buy fee which increases the efficiency of the collateral snowball, as the NUMA token gains value against rETH at a much quicker rate. The buy fee can expand in times of increased demand for the protocol, accruing additional yield and allowing for rapid NUMA price expansion. When demand slows, the buy fee lowers to track the LP price and force more vault transactions, keeping the flywheel going.
