Wednesday, August 4th, 2021 — Planet Finance will be upgrading seven vaults starting on August 4th at 1:00pm EST. All vaults being upgraded were aggregating vaults from AutoFarm that originate on either PancakeSwap or Belt. We’ll be cutting out AutoFarm & aggregating the vaults directly from PancakeSwap or Belt.
We’re doing this for a number of reasons.
Our mission is to provide the best defi applications at the apex of high yields and low risk. Aggregating a vault that is on AutoFarm but originates on another platform naturally carries additional levels of both risk and reward. There is a tipping point where the additional yield doesn’t justify the added layer of risk in doing so and we believe that these vaults have reached that point.
So, these seven vaults will now be aggregated on Planet Finance directly from their source on PancakeSwap and Belt. All of these vaults incurred an additional 0.1% deposit fee charge by AutoFarm and that will no longer apply anymore after this upgrade.
This will simultaneously reduce risk & increase reward. All vaults except BUSD-VAI will be have a 50% increase in their AQUA rewards.
Which vaults are being updated?
- BNB (Belt) (Red Planet)
- BTCB (Belt) (Red Planet)
- ETH (Belt) (Red Planet)
- 4Belt (Blue Planet)
- BUSD-VAI (Blue Planet)
- BUSD-USDT (Blue Planet)
- BUSD-UST (Blue Planet)
What do I need to do?
It’s very simple. You just need to withdraw your LP tokens from the (old) vault to your liquid balance. Then deposit that LP in the new vault & you’ll start earning again. You do not to leave Planet Finance at all to complete this process.
If you have any questions or need any further help please join the Telegram group.
