Vapor is the first reserve currency riding the waves of the #Suinami 🌊 Community-run account: @VaporeonOnSui
Sui
Joined December 2023
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Reminder! 🚨🚨🚨
Many have still not redeemed their $Vapor.
Please read:
Vapor DAO will be winding down all operations. Unfortunately, the protocol did not see the traction we hoped for and will be refunding the entire SUI backing back to existing VAPOR holders. The treasury has profited 15,000 SUI through passive income strategies over time, and the VAPOR/SUI LP will be removed to add the SUI in the LP to the total redemption amount.
Total amount of SUI to be refunded:
190,077 SUI in treasury +16,525 SUI in LP = 206,602 SUI
Recent buyers this month will be refunded at break even. Buyers after this post was published will be not receive a refund, as a snapshot has been taken last month and the treasury refund will go to existing holders who have held until the Vapor closure.
Each VAPOR token will be redeemable for 1.262 SUI
Refund Process:
(1) Holders must first unstake their sVAPOR tokens through the UI vapordao.finance/stake
(2) Eligible holders must send their VAPOR tokens to the treasury address vaporfarming.sui or 0xd48b79199748b9c1ddfa81618258a67ac49db4e378e996e114abc88ce033fa98
(3) VAPOR transfers will be indexed and SUI will be refunded to the sender address.
Important Announcement:
Vapor DAO will be winding down all operations. Unfortunately, the protocol did not see the traction we hoped for and will be refunding the entire SUI backing back to existing VAPOR holders. The treasury has profited 15,000 SUI through passive income strategies over time, and the VAPOR/SUI LP will be removed to add the SUI in the LP to the total redemption amount.
Total amount of SUI to be refunded:
190,077 SUI in treasury +16,525 SUI in LP = 206,602 SUI
Recent buyers this month will be refunded at break even. Buyers after this post was published will be not receive a refund, as a snapshot has been taken last month and the treasury refund will go to existing holders who have held until the Vapor closure.
Each VAPOR token will be redeemable for 1.262 SUI
Refund Process:
(1) Holders must first unstake their sVAPOR tokens through the UI vapordao.finance/stake
(2) Eligible holders must send their VAPOR tokens to the treasury address vaporfarming.sui or 0xd48b79199748b9c1ddfa81618258a67ac49db4e378e996e114abc88ce033fa98
(3) VAPOR transfers will be indexed and SUI will be refunded to the sender address.
GM, fam –
Over the past two weeks, we’ve executed four more $vapor buybacks, spending a total of 4,710 $sui to purchase + burn an additional 6,347 $vapor.
This brings the total amount of $vapor that we’ve permanently removed from the market to 31,428 (~13% of the total supply).
Have a great weekend!
GM Vapor family.
Over the past week, we’ve executed four more $vapor buybacks: spending 2,230 $sui to purchase/burn an additional 2,694 $vapor.
This brings the total amount of $vapor that we’ve acquired to permanently remove from the market to 23,371 (~10% of the total supply).
Of the remaining supply, 124,000 $vapor are staked and 35,818 $vapor are in the LP.
Vapor DAO (💧,💧) retweeted
There's a lot of conversation around the upcoming Sui token unlock starting this Friday, May 3. Understandable—it's a big one—with the circulating supply of Sui set to increase by ~1bn. A lot of the speculation is naturally around potential price action, but from my view, we're just turning the page to an even more exciting phase for Sui as a technology and ecosystem, so let's unpack it a bit.
Firstly, a breakdown of where the 1BN unlocked tokens are going (represents ~10% of Sui's Max Total Supply and a 75% increase over the present circulating supply):
• Series A investors: 496M Sui – *new tranche
• Series B investors: 232M Sui – *new tranche
• Early contributors: 109M Sui – *new tranche
• Community reserve: 148M Sui – *net new
• Stake subsidies: 2M Sui – *net new
• Mysten treasury: 14M Sui – *new tranche
Price speculation: any negative impact will likely be short-term with the dynamic being reminiscent of Solana's major token unlock in January 2021. For comparison's sake, that unlock saw the circulating supply of Solana grow by 211% (from 151M to 470M $SOL). By November 2021, the price of $SOL had appreciated to a high of 108x its pre-unlock price (from ~$2.3 to $259) before closing out the year at $177 (~75x its pre-unlock price).
Wild! And while it'd be silly to assume that $SUI will appreciate in a similar manner (different macro + supply/demand dynamics, etc.), it's reasonable to expect the new liquidity to be a net positive for the ecosystem with $SUI price appreciation to follow.
IMO, Sui represents the most significant leap forward in L1 tech since ETH (yes, I believe it's another stratosphere vs. Solana). Combined with explosive and accelerating YTD growth across TVL, ecosystem projects, and active users, it's safe to say the most exciting times lie ahead, and soon we'll see the truly game-changing Web3 consumer apps that we've all been waiting on. Follow the tech, my friend.
If you're new to Sui, and looking to dip your toes in, here are some of my favorite projects by category, and builders worth following:
Projects
• @navi_protocol - Lending
• @Scallop_io - Lending
• @suilendprotocol - Lending
• @VaporProtocol - Reserve Currency + Liquid HF
• @TypusFinance - Options Vaults
• @CetusProtocol - DEX
• @Turbos_finance - DEX / CLMM
• @HopAggregator - DEX Aggregator
• @AftermathFi - DEX Aggregator
• @ABExFinance - Derivatives
• @bluefinapp - Derivatives
• @SuiNSdapp - Sui Name Service (SNS)
• @SuiGenerisAH - 1of1 Auction House
• @suiscanofficial - Explorer (SuiScan)
• @blockvisionhq - Explorer (SuiVision)
Builders
• @EvanWeb3 - Co-founder + CEO @Mysten_Labs
• @b1ackd0g - Co-founder + CTO @Mysten_Labs
• @EmanAbio - Co-founder + CPO @Mysten_Labs
• @elliscopef - Cooking @ Navi
• @its_matrix_rick - Cooking @ [redacted] (w/ me)
• @_smkotaro - Co-founder + Creative @_StudioMirai
• @0xrinegade - Founder & CEO @aldrin_labs
• @Zzvonarka - NFT Artist (Unbound, Galaxy25)
• @Eason_C13 - Researcher @bucket_protocol
• @matteodotsui - High-value Info Guy
• @AF_intern - A literal egg
Let's build.
Pandora Finance <> Vapor DAO Whitelist Giveaway!
@pandora_finance is offering 20 whitelist spots to the Vapor community for their groundbreaking Hybrid NFT mint on Sui: Pandorian! How to enter:
1⃣ - follow @VaporProtocol & @pandora_finance
2⃣ - like & retweet this post
3⃣ - tag 3 friends in the comments
🍾 Winners announced this Friday, April 26!
We've executed another 1,100 Sui ($1,340 USD) buyback this morning using yield generated from our Treasury staking strategies—effectively removing an additional 1,266 $vapor from the circulating supply.
Blue skies at last. 🫡
Rough waters out there, but we’re starting to see incredible results from our buyback strategy!
To-date, we’ve market-bought 5,500 $vapor using 3,700 SUI (yield-earned from our Treasury DeFi strategies) – effectively removing the $vapor from the circulating supply and helping $vapor’s market price recover to ~$1 USD.
We’re currently earning yield through our first DeFi strategy: deploying Sui held in our Treasury into the LST/SUI Cetus LP on @CetusProtocol – which is yielding an impressive 40%+ APY, on average.
While we’re excited that $vapor has shown a strong recovery over the past few days, it’s still trading at a significant discount to it’s true backing value of $1.45 – our next target.
Onward! 🫡
$sui $ohm #defi #suinami
Vapor DAO (💧,💧) retweeted
Shoutout to all the memes still memeing in $SUI #Goblintown 💙.
Gotta love the Eco for it's welcoming culture.
Carp and Cinn are on the hunt for WOOD.
Can you spot everyone else?
@HsuiOnSui @VaporeonOnSui @suizukisui @SimbaOnSui69 @SuibaOnSUI @LamballOnSui @Mew_Sui @OvanWeb2
✅ Docs updated with all of our contract links + full audit by the great and powerful @Verichains
📄 Docs: docs.vapordao.finance/
🔒 Audit: github.com/verichains/public…
💙 ~Vapor
$2 Sui feels great!
300,000 Sui in your Treasury feels even better! 😉
Congrats to the Sui community and early believers – something tells us that we're just getting started! 🌊
The airdrop for VAPOREON holders is live! Check your allocation at vapordao.finance/airdrop.
The VaporDAO commuunity is invited to vote on some of the topics discussed during the AMA:
1 ) The reference peg asset
2 ) Usage of treasury yield
3 ) Secondary liquidity pool for DexScreener
4 ) Usage of treasury to buyback VAPOR itself and airdrop collaborating communities
If you'd like to vote on these questions, please join our Telegram (t.me/VaporDAO) and vote on the pinned polls.
