Tuesdays on Liotes are reserved for creative posts about different aspects of the project, or about some other investment opportunities, or ideas, like in this video... We have created one video before with our view about the MusicForLife tribe, their tokens, and why we have invested in them and will invest in the future...
Almost two months after that video, the team around M4L has created a new farming platform here on HIVE, where you can stake Hive-Engine tokens and earn VFT tokens, which has its use case! The platform isn't yet finished, but it is in some kind of "Alpha stage", it works, farming is working, but there are still things to finish and bugs to be fixed...
If you are familiar with CubDeFi you will notice a big similarity with VFTLab.Finance... One of the biggest differences is that VFTLab is completely powered by HIVE, and there is no need for additional plugins, tokens, etc. to make it work... You just need Hive Keychain and you are ready to go!
Also, another big difference is that farmed VFT tokens have use-case as a token that will be used for buying different NFTs, so in a certain way, it is backed up with that... When you want to stake certain tokens, there is a deposit fee that will be used for burning VFT tokens, but even when you purchase some NFT with them, the transaction fees will be burned!
At the moment, it is possible to stake VIBES, STARBITS, LEO, DEC, HIVE, and VFT tokens, but they are planning to add more tokens in the future...
Check out the video for more details...
Links mentioned in the video:
https://vftlab.finance/
https://vftlabdashboard.netlify.app/ stats tool by @okean123
Official Discord: https://discord.gg/sTyG5vBTVb
Tribe Website: http://musicforlife.io/
All that is written and recorded are our personal views about this platform and mentioned tokens... This post isn't financial advice of any kind, and please DYOR before investing your money into any project
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Great tutorial, I started it earlier and deposited all the available tokens to grab some VFT, and it's working pretty cool. Music4life is a good tribe and we like to spread good Vibes.
!LUV !BEER !PIZZA
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It looks neat, and I share your opinion about the tribe in general... I just hope that they will finish the product and fix the bugs... There are no doubts that potential is there... ;)
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I just started using VFT labs this week, thanks to a comment in the Liotes Discord. It is a great alternative to Cub. I have wanted to jump into Cub for awhile, but the fees make it super difficult. I love that this allows anyone to jump into DeFi no matter how small of an investment they are able to make. Fingers crossed you guys can get LEN added to VFT, or something else like it one day. !LUV 1
Yeah, that is the major issue for small investors... It is better than the Uniswap thing and ETH fees, but still, you need at least $1-$2 to harvest and add liquidity back... and sometimes, that's more than the initial investment
I would like to see the platform 100% finished with polished stats and functionality... It would be great to see LEN tokens up there... ;)
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My pleasure :) this is the least I can do .
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ENGAGEtoday.I had heard about VFT, but had not looked into the details. Thank you for the explanation. I will have to look into this deeper.
It's very similar to CUBDefi... so if you know how that works, you will easy get into VFTLab... ;)
Thanks for your time... ;)
!ENGAGE 20
!LUV 1
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I like the concept of VFT Lab and I'm staking VFT on the platform. Until I watch the video, I did not know about the website developed by okean123. Now I have an idea about the daily distribution ^^
I'm sure the developers will turn the platform into more informative state. I'm happy with staking the tokens without any fees on VFT slot. Fingers crossed for the growing project :)
Thanks for the video dear 😌
I hope that developers will finish the project and fix the bugs... There is a huge potential in it!
!PIZZA
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Maybe I did it wrong? Three days and nothing?
Sorry man, I didn't see your comment... Almost missed it... Check out your Hive-Engine wallet, as those data aren't visible on the website...
Cheers!
!PIZZA
Thank you! It's rough when there's no manual. Nothing I read said it went there. lol
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I only deposited some VIBES since the fee was the smallest. Then I started just depositing my VFT to compound. It does look like the Starbits pool is too full.
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I was thinking in the same direction as you, but I had some DEC accumulated, so I went that way... VFT compound maybe isn't that bad idea...
!PIZZA
I was just looking at the fees and I was thinking if its just 1%, I probably wouldn't notice the difference when I pulled it out and the VFT would cover it easily so I went for it.
!LUV
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I've stacked a little bit there to see what it's all about. It's missing some features such as showing x value per category and current APR rate. Besides that it's rather solid.
Yeah, those things are missing... I hope that they will add them up and fix the problem with distribution...
!LUV 1
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This is interesting. I haven't tried it yet, maybe I'll wait a day, but it seemed to me that the Liotes team is thinking along these lines.
CubFinance took me about a week to understand how the process works in general, I find it quite complicated, there are a lot of steps, you have a fee for each step and in the end there is no particular profit, not to mention that CUB has fallen quite a lot.
For the average user on Hive, not having to go anywhere else is certainly an advantage. btw: here I see the possibility of where to park my LEN tokens (if you decide to go up there of course)
You've earned your dinner today 😎 😁. !PIZZA !BEER
Like I said in the post, the main advantage of VTFLab is that everything is on HIVE, so ZERO transaction fees... Deposit fees are OK and it's normal to have them... Especially, If they are used for burning the base tokens...
We would like to see LEN token added there, but that doesn't depend only on us... If they create some POLL to what token people want to see there then we will activate all our powers... hehehe...
Thanks for the !PIZZA and beer... I'm not sure if I have some left :)
Of course, this depends on many others not just you and the farm developers. Probably also from the interest of investors. Definitely I cheer for it.😎😀🍺
@ph1102, sorry!
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Oh, this is a great site! I already made a few wallets and put a few tokens in there to try it out.
It'd be good if it showed the payout rates though!
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Yeah, it needs polishing... I hope we will see those stats soon on the website directly...
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Well done video! Thanks for showing my app :)!
Regarding the wrong number: I still haven't figured out what exactly the problem is. The numbers seem to be correct with the other pools, it's the DEC one specifically that seems to be wrong. But as you already said, always take the numbers with a grain of salt, they may be faulty.
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Thank you for creating that tool!
It's probably some problem in their distribution script, or something similar... Your calculations are OK, as I have checked them manually... :)
Cheers!
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Now wouldn´t that be a great way to put another use case for LEN? Staking LEN tokens earning VFT sounds very nice to me :)
!invest_vote
Hehehe... it would be awesome... We will see when @al-gaming decides to add new tokens if we can negotiate about adding LEN tokens :)
!PIZZA
It would keep some of my LEN away from the shop :)
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I didn't know of the stats site. But it didn't work for me. It showed where I had tokens staked and their number, but the rest of info wasn't right. One step at a time I guess.
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Was it like I said in the video? I mean like in my case? Numbers for the staked amount was OK, but the VFT payment number was way off?
Did you do the DEC staking also?
!PIZZA
No. On my end it showed
Infinityfor both my pool share and my expected VFT. Deposited amounts were ok, exactly. I don't have any DEC staked.Interesting... Can you check this out @okean123?
This is showing for me.
Sometimes the data doesn't load properly (when the APR, deposited tokens etc don't show), then try to reload the page. @gadrian
It could be a division by zero somewhere. But in most coding languages that produces a division by zero error.
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Thanks for the pizza! We will see to review the PIZZA project in some of the following weeks!
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