View source for CVault.finance (CORE)

{{Crypto_info_template|website = https://cvault.finance/|total_supply = 10.000|type = Deflationary Yield Farming}}

== Basics ==
* Announced on:
* [[Mainnet]] release:
* From their [https://medium.com/@CORE_Vault/introducing-core-fef3e1b77d12 blog] (18-9-2020):

"''CORE is a non-inflationary cryptocurrency that is designed to execute profit-generating strategies autonomously with a completely [[decentralized]] approach. In existing autonomous strategy-executing platforms a team or single developer is solely responsible for determining how locked funds are used to generate [[ROI]]. This is hazardous to the health of the fund as it grows, as it creates flawed incentives, and invites mistakes to be made. CORE does away with this dynamic and instead opts for one with decentralized [[governance]]."''

How the governance will be done is still (4-1-2021) unclear.

== History ==
== Token ==
=== Launch ===
=== Token allocation ===

* From their [https://medium.com/@CORE_Vault/introducing-core-fef3e1b77d12 introduction] (18-9-2020):

''"The CORE team is kickstarting the initial distribution with a liquidity event. Contribute ETH to the CORE Fair Launch smart contract to receive tokens, and the contributed ETH will be matched and added to the [[Uniswap]] [[liquidity pool]]. <mark>Note that once added, liquidity tokens can not be removed from the CORE Uniswap LP pools.</mark> This is by design."''

=== Utility ===
* From their [https://medium.com/core-vault/core-the-gateway-to-limitless-growth-1a04112d9892 blog] (31-10-2020):
"''Each transfer of CORE has a 1% fee attached to it. 93% of this fee is collected by the staked [[LP]] token holders and 7% goes to the dev fund. A positive feedback loop is generated when LP stakers sell their rewards. They generate additional fees which lock up more liquidity and drive up [[APY]]. An increase of APY attracts additional minting of LP tokens which increases the [[TVPL]] as well as the value of the next [[liquidity]] addition."''

* [https://github.com/cVault-finance/CORE-v1 From] their [[Github]] (9-12-2020):

''"CORE tokens holders will be able to provide strategy contracts and vote on what goes live and when, in order to [[Decentralized|decentralize]] autonomous strategy execution. 5% of all profits generated from these strategies are used to auto market-buy the CORE token."''

=== Token Details ===
* From their [https://medium.com/core-vault/core-the-gateway-to-limitless-growth-1a04112d9892 blog] (31-10-2020):
"''While CORE has a limited supply of 10,000 coins, it also has the possibility of minting new kind of tokens inside the ecosystem — CORE Liquidity Tokens (LP Tokens). These create a market inside of CORE, promoting trade and speculation between LP token holders."''

=== Stablecoin ===
== Technology ==
* [[Whitepaper]] can be found [insert here].
* Code can be viewed [https://github.com/cVault-finance here].
* Built on: [[Ethereum]], [[ERC-95]]

=== How it works ===
* From their [https://medium.com/core-vault/core-the-gateway-to-limitless-growth-1a04112d9892 blog] (31-10-2020):
"''We created a [[permissioned]] ecosystem of locked [[liquidity]], where CORE serves as the key to access this space. Each transfer is charged with a 1% fee which continues to grow the [[liquidity pool]]. CORE found a way to assure its value through [[decentralized]] [[Permissionless|permission-less]] [[smart contracts]]. Now that the system started, it cannot be stopped, inevitably locking more and more assets as time goes by. Each additional currency that we add to the ecosystem will indefinitely grow that pool, strengthening CORE’s purpose to gate everything. [[ERC95]] takes advantage of the movements of other coins by mirroring them, allowing the ecosystem to benefit from the volatility and volume created by that. We permanently positioned ourselves in [[DeFi]] by modifying the [[Uniswap]] liquidity removal process and enabling arbitrage through a second pair.''

''By [[Wrapped Tokens|wrapping]] the underlying asset with ERC95, a Prime is created which has the ability to track volume and collect data on average prices as well as weighted average prices. This is used to create “greeks” for setting up automated options markets that are too expensive to manipulate. The data collected by ERC95 is exclusively available to the CORE ecosystem with private functions that only CORE [[Contracts]] can call."''
=== Staking ===
=== Liquidity Mining ===

* [https://github.com/cVault-finance/CORE-v1 From] their [[Github]] (9-12-2020):

''"The CORE team is kickstarting the initial distribution with a [[liquidity]] event.''

''Our solution is called deflationary farming, and it is quite simple in only two steps:''

# ''Charge a fee on token transfers''
# ''Users can earn the fee by farming"''

=== Layer Two ===
=== Interoperability ===
=== Other Details ===
== Privacy Method being used ==
=== Compliance ===
== Oracle Method being used ==

* From their [https://phadzhiev.medium.com/core-vault-and-delta-financial-a-perfect-symbiosis-bd03fef8af83 blog] (14-2-2021):

''"CORE leverages its [https://medium.com/core-vault/erc95-a-new-standard-e59e806b7d82 ERC-95 Standard] to set up an environment around the token that is rich in data. The assets in the CORE markets are wrapped into ERC-95 tokens which support native market data like liquidity and volume. Native, as in that data can be queried on-chain. The tokens’ smart contracts are essentially serving as [[oracles]]. This functionality is already leveraged by the arbitrage smart contract that constantly trades between CORE’s markets. Now, it will also be used by coreDEX to settle derivatives."''

== Their Other Projects ==

=== Delta Financial ===

* From their [https://medium.com/delta-financial/introducing-delta-financial-769d387e9430 Medium] (19-2-2021):

''"[[Delta Finance (DELTA)|Delta]] is an [[on-chain]] [[options]] layer which utilizes a combination of liquidity standards to reduce premiums and offer competitive options prices."''

* How both projects complement each other can be read [https://phadzhiev.medium.com/core-vault-and-delta-financial-a-perfect-symbiosis-bd03fef8af83 here] (14-2-2021).

=== ENCORE ===
* From this [https://btcpro.com/2020/11/01/encore-to-be-absorbed-by-core/ article] (11-11-2020):
''"[https://evault.finance/ ENCORE], a [[fork]] of CORE Vault, will be absorbed back into its “parent” coin, CORE. This is one month after ENCORE held a Liquidity Generation Event (LGE) where 10,000 [[ETH]] (around $4 million as of writing) was contributed. Participants of the ENCORE LGE have not received gains proportional to their original principal due to low trading volume for the ENCORE token. As such, the ENCORE team has decided to bring ENCORE’s [[liquidity]] into CORE’s [[liquidity pools]], which benefit from forced arbitrage and significantly higher trading volume (and thus, higher accumulated fees)."''

== Governance ==
* From the [https://cvault.finance/ website] (4-1-2021):

''"CORE is designed for great community governance. The community decides everything, from developer fees, to deciding on the fee approver [[contract]], adding new pools, rebalancing, and even disabling pools in the CORE Transfer contract.''

''If the holders decide COREVault should have a [[YFI]] pool, we can set the ratio of fees it will be able to distribute, as well as when people should be able to withdraw YFI tokens from it."''

As of date, there is no concrete plan for actual governance.

* [https://github.com/cVault-finance/CORE-v1 From] their [[Github]] (9-12-2020):

''"All transfers have to be approved by the CORE Transfers [[smart contract]], which will block all liquidity withdrawals from [[Uniswap]]. This will guarantee a stable market, giving holders and farmers skin in the game."''

=== DAO ===
=== Treasury ===

=== Emergency Shutdown ===
* From their [https://medium.com/core-vault/core-the-beginning-of-phase-1-22d07ff932c9 blog] (20-12-2020):
"''The CORE Panic Button [[smart contract]] is intended to be triggered, in case of a serious emergency, such as a hack, security breach or possible malicious governance activities. Once 500 CORE are placed inside the COREPanicButton Contract, it enacts immediately to shut down the entire system. The dev team will be able to take a look at the threat and eliminate it. The community members who contributed 500 CORE to the COREPanicButton contract and stopped the malicious event from further damaging the protocol will receive a bounty reward of 10 CORE, split among its contributors. In case of a false alarm, 500 CORE inside the contract will be [[burned]] and the protocol will restart unchanged."''

Who decides what a false alarm is and how 'emergencies' will be stopped is not further disclosed.

== Upgrades ==
== Roadmap ==
* Can be found [Insert link here].
* From their [https://medium.com/core-vault/core-the-gateway-to-limitless-growth-1a04112d9892 blog] (31-10-2020):
"''The next phase will focus on implementing trading strategies similar to other DeFi ecosystems.''

''Flash LP Loans — allowing the underlying assets to be unwrapped and loaning it out atomically in the same transaction adds value to each loan due to the fee on transfer. LP pool farmers will generate yield at absolutely no risk.''

''Collateralized loans — CORE Vault has access to a diversified selection of different coins which can be taken out as a loan. Due to the oracle data collected by ERC95 we can adjust risk, based on bottom prices and liquidity of other coins. This creates non exploitable collateral systems with the lowest risk for borrowers and greatly reduced up-front cost for people borrowing."''

== Audits ==
* [[Bug bounty]] program can be found [https://medium.com/core-vault/cores-bug-bounty-reward-announcement-4b9af30827e7 here] (11-11-2020). It seems people earn 'points' for reported bugs.
* [https://defisafety.com/core-cvault-finance-process-quality-audit/ Scored] a 66% on [[DeFi Safety]] (3-11-2020); ''"An [https://arcadiamgroup.com/audits/CoreFinal.pdf audit] by [[The Acadia Group]] was completed October 8th. Cvault.Finance was released September 18th." ''And as a [https://t.me/c/1453353094/1818 comment]: "''Strong on their contracts and audit, but testing and docs are weak.  But they have said they will improve so things will get better."''
=== Bugs/Hacks ===
== Usage ==
=== Projects that use or built on it ===
Delta Finance is one of the building blocks of the 

== Competition ==
* Other asset management projects like [[yEarn]] and [[Harvest (FARM)|Harvest Finance]].
*From their [https://medium.com/core-vault/core-the-gateway-to-limitless-growth-1a04112d9892 blog] (31-10-2020):
"''The major difference lies in the fact that [[ERC95]] collects data live from the [[blockchain]] and thanks to the CORE [[permissioned]]- fee, we can trust this data because it is incredibly costly to manipulate it. Our strategies will have access to more accurate data which boosts performance and accuracy. The competitive landscape heavily relies on [[centralized]] [[oracles]] or governance, creating a stop gap. All systems should be governed by code and changes to code should be governed by [[governance]], NOT variables inside code."''

== Coin Distribution ==
* About [https://etherscan.io/token/0x62359ed7505efc61ff1d56fef82158ccaffa23d7#balances 65%] of all CORE tokens are within [[Uniswap]] [[contracts]] (4-1-2021). After these (probably) liquidity pools, the two biggest holders both hold about 4% of the supply. 

== Pros and Cons ==
=== Pros ===
=== Cons ===

* Has strong [[Admin Key|admin keys]] which pose a risk due to having anonymous founders.

== Team, Funding, Partnerships, etc. ==
=== Team ===
* Full team can be found [here].
*The team is anonymous (2-2021). 

=== Funding ===

=== Partners ===
* Is a [https://medium.com/core-vault/core-the-beginning-of-phase-1-22d07ff932c9 partner] with [[Cover|Cover Protocol]] (20-12-2020).
[[Category:Coins/Tokens]]