My indepth analysis of CORE (Core Vault)

[Anonymous No.22693861]

---Token im talking about is cvault.finance

I saw someone shilling CORE here earlier, the website looks pretty cool. So I decided to dig more into it.
Here are all my findings from reading all the materials, reading code, and talking to devs;

tl;dr -
This is something completely new and different. Its like a amalgamation of YFI and Sushi. Its impossible to withdraw liquidity tokens from uniswap (its pretty cool how they achieved it). They made a new way to launch tokens, and its pretty fair and interesting. You can farm it and the supply is fixed at 10,000.

1) All LP withdrawals are blocked -
ref - https://github.com/cVault-finance/CORE-v1/blob/master/contracts/FeeApprover.sol#L64
This ensures all liquidity withdrawals will reverse. Because uniswap calls _burn function first, and adjusts supply in their smart contract state. Making it exploitable. Brilliant.

2) Farming without inflation.
This is the craziest thing in this. Pay attention. How all the farming tokens did it so far is keep printing new tokens to allow people to mine. Core lets you "farm volume" by taxing every transaction and letting everyone farm it. This will make the token price explode.

cont..

[Anonymous No.22693871]

3) All CORE tokens are in the uniswap liquidity pool from launch.
This is a interesting part of how the "liquidity event" (gay name) works. All of the CORE tokens that will ever be created are used to kickstart liquidity.
This means couple of different things :
a) Price is FIXED at the point, it can't go lower than listing price. It can only go higher.
b) Price will keep going higher and higher because of how uniswap works.
- When you buy or sell a token there is a 0.3% liquidity provider fee.
- All liquidity is locked here, so there is no way to take it out
- Liquidity provider fee goes back to the pool
- How price is calculated is reserve0/reserve1 - this means there will be more and more ETH and the same max amount of tokens inside
c) Every new person who wants to farm has to buy CORE and then lock the LP forever. Making this a mega ponzi.
- They buy, it goes locked inside the pool at higher price ( cause they just bought )
- Price cant go down from that because of b)
- Price just keeps going up

cont..

[Anonymous No.22693895]

>>22693871

4) Add YFI like vaults to the mix
Because everyone is locked into this coin and will stay with it, governance should be the strongest out there.
This is the most unclear point about it, but I understand whats going on after talking to devs.
There will be pools you can farm CORE with other tokens. But the CORE you get will be market bought with your token yields.
People will still farm with it because it will provide high automatic yield thanks to strong governance. Similiar to how it works on YFI.
Only difference from YFI here is that yield will be paid in CORE. And because there is a transfer fee, even if the whales farming it insta dump it, it still will benefit the people staking CORE LP tokens. And bigger fees will bring more people staking and locking LP tokens, raising the price of CORE...


I have to conclude this has stronger economics than YFI, with added ponzinomics from SUSHI (+ LP lock).
If this works out how I think, this will be the biggest token out there.

[Anonymous No.22694255]

So LP tokens are locked forever then...
wth I’m in for 1 eth

[Anonymous No.22694457]

YOLOd in to this as soon as I saw the website kek

[Anonymous No.22694673]

OH MY GOD...
this site has minesweeper on it

[Anonymous No.22694965]

>>22694673
did you win yet

[Anonymous No.22695589]

>>22694965

[Anonymous No.22695851]

>>22695589
This is now a meme thread