Greetings, numans…it’s finally time—the vault launches tomorrow! Thanks to everyone who has stuck with us through this pivot. Tomorrow marks the beginning of our journey to bring sustainable yield to real-world assets, and we couldn’t be more excited!
A recap of the benefits of the vault
Why hold BTC when you can hold nuBTC and earn real yield?
Why hold USD when you can hold nuUSD and earn real yield?
Why hold GOLD when you can hold nuGOLD and earn real yield?
NUMA tokens will now be explicitly backed by rETH.
The vault is a collateral snowball which makes NUMA tokens continually gain value in rETH terms, as the protocol continues to absorb more collateral—overcollateralizing nu money synthetics as a utility.
Single-stakers of nu money synthetics will earn sustainable real yield, as a structural part of the protocol.
The numa protocol will pay sustainable LP staking rewards to providers, which incentivizes liquidity and secures the protocol for the long run.
The vault doesn’t rely on liquidity and is zero-slippage: all NUMA holders can exit their positions through the vault at the current market rate with a 5% fee. In fact, if every $NUMA holder decided to dump their tokens into the vault, the price per $NUMA would rapidly increase, such that the first "sellers" (burners) would get the market price and subsequent burners would get more and more rETH.
The vault provides transparent proof-of-reserves for the synthetics that are minted.
The vault provides the core of the “liquidity vacuum”: the arbitrage opportunities of the vault provide incentive for the protocol to perpetually accrue liquidity, by design.
For more info on the benefits of the vault, review our blog post and whitepaper.
Steps for tomorrow
Remove the existing ETH/NUMA LP from SushiSwap
Burn approximately 5m NUMA tokens
Convert the ETH to rETH
Deploy vault contracts
Deposit rETH to the vault
Create new LP for DAI/NUMA on Uniswap v3
As always, if you have any questions or simply want to join the conversation, please join our Telegram group.
