Velvet.Capital blog

Velvet.Capital: Venus Integration & Bounty Hunting

Velvet.Capital: Venus Integration & Bounty Hunting 🤠

Howdy partner, in the spirit of the Old West, it’s time for the new sheriffs in town to show themselves. Velvet.Capital here and reporting for duty. We’re on a mission to bring financial freedom- free of intermediaries and centralized parties- to the next billion crypto users. The vision is to be the #1 multi-chain platform to manage digital assets.
Velvet.Capital is a multi-chain DeFi protocol that helps create automated crypto portfolios & indexes with additional yield at the tips of your fingers! We put a premium on honesty, integrity, and fairness & are excited to be part of bringing more of that to the world of finance. With that sentiment, it’s with great pleasure we’re announcing Venus Hackathon bounties as completed!

Venus Integration

We’re so excited to have Venus as our first integration (please check it out here) on getting extra yield. We thought it was a perfect first choice because of both our shared commitments to not only the BNB chain but also to building out the DeFi space for the entire globe. Consider those bounties good as done. :)
Our Venus integration will essentially allow Velvet.Capital to lend tokens into the Venus Protocol while the assets are being held in the portfolio/index to earn additional yield. Then when the user withdraws from the portfolio the tokens will be automatically redeemed from the Venus protocol and the user will get the additional interest (which will already be displayed in the portfolio balance). The user will get back the tokens put in plus some additional interest from the protocol!

Wanted Dead or Alive 🤠 (Okay maybe we’re being a little dramatic but you get the idea):

What we’re doing at Velvet.Capital is building a user-friendly, multi-chain DeFi protocol that will act as an open platform for the creation of automated crypto portfolios (and other financial instruments). That’s right! You’ll be able to create your own diversified thematic crypto portfolios, indexes, etc., more intuitively than ever before. We leverage modern portfolio theory and yield farming to deliver you with additional yield in just a few simple clicks.
Our portfolios are constructed based on clear parameters that allow for a uniquely customizable experience. They automatically rebalance- according to your preferences- so you don’t have to constantly be making trades yourself- which saves you time and limits your risk. Stress less! Not to mention the tax benefits that come with our unique portfolio construction- you will have less taxable events than if you manage your portfolio yourself.

The Bounties

✔️ Bounty 15: $15,000 Owner: Venus

DEX Integration

  • We’ve integrated Venus’ borrowing and lending capabilities with a BNB Chain DEX (Decentralized Exchange) protocol to enable more financial use cases- like trading.

✔️ Bounty 16: $15,000 Owner: Venus

Account Vaults

  • We integrated with Gnosis Safe so that Velvet.Capital funds can be stored in customized account vaults according to the user’s specifications.

✔️ Bounty 25: $10,000 Owner: Venus

Automatic Portfolio Rebalancer

  • With Velvet.Capital we can automatically rebalance your investments based on your unique investment preferences.
  • Select investment criteria and themes you’re interested in, everyone can use our protocol to create new portfolios and indexes and we’ll be rewarding creators

✔️ Bounty 27: $2,000 Owner: Venus

Automatic Portfolio Simulator

  • Velvet.Capital has created an interface-only (React.js based) simulator that will accept hypothetical investment positions on Venus & then display the expected yields and payments- based on current interest rates & rewards offered.

Don’t forget to Vote on Dorahacks!

If you want to support what we’re building here at Velvet.Capital, please vote for us on DoraHacks. You can check out our latest demos from the hackathon on Youtube here and here.
Please vote today and join our army of early supporters! Voting completes on May 10th! :)

You Know the Drill

Here’s the signup link: Your Automated Crypto Portfolio (early adopters will not be forgotten 😁)
Don’t forget to join us on Discord and follow us on Twitter, Instagram,LinkedIn , & Telegram. The more the merrier. We want to hear from you, don’t be shy.
Until next time,