Deposit receipts
Governance level: Depositor.
Last updated
Governance level: Depositor.
Last updated
- - .
The details provided below are a generalisation of all deposit receipts issued by listed CDPs and LDPs. For details specific to a CDP or LDP, please review the sub-list of pages relating to Deposit receipts.
As with a majority of other protocols, receipts are minted in lieu of deposits received. In this instance, 3.finance is no different.
A user chooses a CDP or LDP to deposit into,
Accessing the action panel for the pool provides a means to deposit the native asset,
The pool passes the native asset on to the external protocol implementing a strategy,
The external protocol confirms deposit via receipt,
On receiving the external protocol receipt, The Grove mints a '3-receipt' and credits it to the connected wallet.
The process of course works in reverse to retrieve the native asset which had been deposited.
Unless otherwise stated during the deposit process, The Grove applies no fee, lock or penalty for deposits or withdrawals. Harvests that facilitate the compound/liquidation processes incur a 1% handling fee.
Deposit receipts will be used to compose standardised and fractal 3.NFTs. The NFTs themselves become receipts for a specific number of assets within each participating CDP.
The number of assets a NFT has ownership of is determined by the 'Power Level' of that NFT. The higher the power level, the more assets it owns. (Thus the higher (day) rates it receives).
Enabling 3.finance deposit receipts to be the composable-building-blocks to access the world of 3.NFTs presents a number of exciting possibilities:
Different participating CDPs produce different NFT collections.
Fractal defined asset allocations produce different NFT power levels.
NFT formatted receipts open new markets to non-DeFi oriented individuals (Culturalist's).
Standardised NFT bundled asset allocations (lots) enable bulk asset purchases and sales.
The following are a list of deposit pools and their current state.
No liquid deposit pools have yet been deployed.
This is a reiteration of the description found in .
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- cvxCRV staked in Convex, 100% preference for stables.
- cvxCRV staked in Convex, 100% preference for governance tokens.
- CVX staked in Convex.
