What is the ETH DeFi Vault on the P2P Widget?
It's an upgraded version of the Veda BoringVault*. This vault provides users with access to potential rewards opportunities within the Lido ecosystem. For more details, check out the Lido FAQs. All information about the Veda BoringVault can be found here.
How does the vault work?
Users deposit their ETH/WETH to the vault, post which the vault will deploy the funds across a basket of DeFi opportunities on multiple different networks. The vault is auto-compounding, meaning rewards are automatically added to the principal.
How can users access the vault?
Users can access the vault via P2P’s widget at https://eth-defi.p2p.org.
How to use the P2P widget?
See the guide
Who manages the vault?
The vault is managed by Seven Seas. For more information regarding Seven Seas, check out their website.
Why should I use the vault?
Be liable for higher rewards for your ETH holdings
Auto-compounding returns meaning no more rebalancing headache for you
Access simple diversification by Seven Seas
Zero fee and exclusive incentives during the initial phase
Which tokens does the vault accept?
The vault currently accepts ETH and WETH, with support for stETH/wstETH due to be added soon.
What are the strategies in the vault?
Here are the protocols enlisted within the vault as of launch on 3rd September:
Uniswap
Gearbox
Aave
Euler
Balance
Fluid
Morpho
More protocols will be listed later
Are the strategies limited to the Ethereum network
No, Lido GGV uses blue-chip strategies across multiple networks so that users don’t have to manually look for DeFi opportunities across L2s. Just deposit your assets to GGV and it will handle the rest.
I deposited ETH/WETH but received wstETH while withdrawing. Why?
The GGV’s primary objective is to introduce users to stETH’s DeFi ecosystem and hence enlists strategies that use stETH/wstETH (Lido staked ETH) with implicit rewards. Therefore, whenever you make a withdrawal request, the vault returns wstETH. Note that with wstETH, you can still keep accumulating Lido’s liquid staking rewards. If you wish to get ETH, you can redeem your wstETH via Lido.
Should I be aware of any risks?
The vault is exposed to risks associated with decentralized finance, including smart contract vulnerabilities and economic risks. Funds may be deployed into liquidity provisioning, which can lead to impermanent loss. The use of leverage introduces the possibility of liquidation.
Hey, I found a bug / I have question
Please contact P2P’s customer support team on Telgram or email if you face any problems while using our widget.
What does the figure “12%” mean? Is this APR? If so, is it fixed or variable?
12% signifies the expected NRR (Net Rewards Rate) from the vault. Rewards are not guaranteed and may vary. They depend on factors outside of P2P.org’s control, including blockchain protocol changes, validator performance, and network-specific rules and mechanisms.
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The materials provided herein are for informational purposes only and shall not be construed as legal, financial, or investment advice. The use of these materials is at your sole discretion and risk. We disclaim any and all liability arising from the use or reliance on these materials.
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