By Minerminer
Intro
I want to start off by thanking everyone for the ongoing support for Ryu and the team. Ryu Vault Services is a project that has been in the works for far longer than is known publicly. We have been working on this protocol for almost as long as we have been building Ryu NFT.
RVS is the third protocol in a list that has seen several iterations, starting way back with Avapool Finance and Probably Wrong. Each was an iteration of the simple idea, bringing tooling and utility to the ecosystem with real yield and sustainability at the core of the design. Each prior version met its hiccups; whether for legal reasons, development reasons, or lack of product-market fit. Each prior version allowed the team to iterate and try new ideas, helping us cultivate the product and platform we have built today. Ryu Vault Services has acted as another iteration in this quest for the final form of our DeFi platform. RVS will be retired as a name with the release of this Medium.
This protocol is a novel idea stemming from this 17-month-long research, innovation, design, branding, and implementation endeavor — and it doesn’t end here. Today, we bring to you the final iteration of our novel DeFi solution.
We are proud to announce the reveal and upcoming launch of FortiFi, a next-gen vault platform. This platform seamlessly offers users access to diversified and competitive yields. This is all accomplished with simple single-sided staking vaults.
Meet FortiFi
FortiFi Vaults offer single-sided staking for assets like AVAX, BTC.b, USDC, sAVAX, and more. FortiFi is built to scale DeFi protocols that derive real yield for underlying assets. This features notable AVAX protocols including Benqi Finance, Yield Yak, Vector Finance, Trader Joe, Delta Prime, and more. Our goal is to provide a layer of optimized strategies for users of FortiFi to leverage the existing deep and robust network of decentralized liquidity.
Vaults feature a novel, yet unique DeFi primitive called “sub-strategies”. Sub-strategies are immutable, bespoke, and fully automated vault contract components designed to diversify yield and mitigate exposure. When users stake an asset, funds are automated into the several underlying sub-strategies to generate yield, all with a single click.
Single Asset Multi-Strategy Vaults (SAMS) Vaults are the inaugural product of FortiFi. These vaults require a single asset to be deposited and automated into several underlying strategies. This provides access to diverse yields through several underlying farms, all in a single gas-efficient click. SAMS Vaults will include three at launch: USDC, BTC.b, and sAVAX.
Powering the FortiFi platform is $FORT, a governance token used to decentralize the decision-making process and protocol voting gauges. Platform governance will be managed by Snapshot. Voting gauges are a decentralized approach to managing the incentivization of FortiFi Vaults. The Fortifi Voting Gauge allows holders of vFORT to cast votes in favor of specific vaults receiving emissions. The percentage of votes a specific vault acquires from vFORT holders is proportional to the percentage of emissions the vault receives. vFORT is a nontransferable token issued to users who staked FORT for sFORT. The FortiFi Snapshot system will use vFORT to calculate voting weight for governance proposals.
FortiFi takes a performance fee for profit made in the vaults; this means we only profit when the vault profits. We do not charge a deposit, withdrawal, or any other hidden fees. Platform fees will be shared with users that stake $FORT in the $sFORT.
Executive Partnership Program
Ryu will be the first and main Executive Partner of FortiFi. FortiFi is a DeFi infrastructure for asset management, not a community hub; Ryu is a community hub on Avalanche. As a result, we will be partnering up to provide the Ryu Fam with bespoke tooling for the FortiFi platform like ryu.fortifi.pro. Executive partners receive a number of benefits on the platform including custom tooling, discounts on performance fees, and more.
Ryu will be the first and only Executive Partner for 2023. The Partnership Program will expand starting in January 2024, with more communities added to the FortiFi Executive Partnership Program.
Ryu holders who participated in the Burn2Claim will still receive tokens, however, instead of $RVS, burners will now receive $FORT. The same Burn Scores will apply for the $FORT airdrops, as will any remaining monthly vesting for participants.
FortiFi Important Links
Website: Link
Substack: Link
Gitbook: Link
Twitter: Link
Closing Remarks
If anyone has any questions, please don’t hesitate to reach out. Feel free to hop in our discord, open a ticket, or shoot the Ryu account a DM. In closing, I want to reiterate that all the benefits that RYU holders had with RVS carry over with Fortify. Thank you again, we are eager to usher in this exciting new phase for Ryu and FortiFi.
