The first upgrade of the Vine Money dApp is now complete, offering an enhanced user experience 🚀

To try it out, go to:
https://vinemoney.xyz

Then click "Launch App".

Updated FAQs doc here:
https://medium.com/@vine_money/vine-money-faqs-ef08d9d0fd18

Big marketing & BD push starting Monday 🍷

Dear Vine Money Community,

We’re disappointed to announce that IllumineX has chosen to delist $VINE and $vUSD from their exchange as officially recognised tokens.

Whilst it's unfortunate to be delisted from the primary DEX on Oasis Sapphire, VINE and vUSD may still be traded by copy and pasting the token contract addresses on IllumineX.

The contract addresses are as follows:

VINE Token Contract: 0xCC34EBcB6ecD87754380C811BdD8b6A35be40dd7

vUSD contract address: 0x9b439999b816eCc2B733f9889509157b7983B8C4

We have been endeavouring to work collaboratively with the Vine Community and the wider Oasis Sapphire Ecosystem to address any bugs and concerns and believed we were close to resolving all issues.

The protocol is still functioning as per normal bar outstanding bugs. We will be discussing internally the best way forward and will look to resolve all bugs ASAP.

VINE MONEY PROTOCOL UPDATE:

We wanted to provide a detailed post-launch update for the Vine community addressing a number of points recently raised, and their resolution:

Improved Decentralization and Security

Some members of the community had some justifiable concerns about some erroneous functions in the VineToken contract that risked centralization issues. We believe this was the cause of IllumineX temporarily removing VINE and vUSD as whitelisted assets on their DEX.

To rectify this, we took on extensive feedback from our advisors, IllumineX, Oasis, and Dedaub (our auditors) and delivered a satisfactory solution in a timely manner. This involves the deployment of a proxy contract that disables the functions in question.

This was delivered to the exact specifications requested by IllumineX, Oasis, and Dedaub and meets the highest standards of decentralization and security.

As we promised the proxy transfer of ownership was delivered today: https://explorer.sapphire.oasis.io/tx/0x0e88924ae2d544f2ef338007cbda02637c695bbe4aebdefa5ad1f4309dfef0d1

Further, we will transfer ownership to the DAO following a grace period to allow for the adjustment of any of other functions or features should their be any more feedback on that front.

To confirm, we have disabled the functions in question, and the audit report has been updated to reflect this: https://docs.google.com/document/d/1vr_NZ3pEVeJJKpnllHYil7YY8ReqmFf_hqcFgTffTo4/edit?usp=sharing

Clarification on Perceived Rewards Claiming "Bug"

There are no technical bugs around claiming and the protocol is functioning as it was designed to do. It's a slightly complex mechanism that we realize we should've taken time to explain more clearly on the UI.

To explain, the lock and boost function is associated with locked weight. The initial claimable reward assumes every user has reached the lock share (locked $VINE/total locked) to 2x their rewards.

However, according to the lock weight/boost multiplier rules, users can only claim the full 2x reward if their locked share (lock weight/total locks) is greater than or equal to the proportion of their claimable rewards out of the total rewards for the week.

If it's less, the rewards they can claim will proportionally decrease to 50% of the 2x reward. We do understand that the concept of locking weight and boosting is a bit confusing.

To simplify, we've changed the UI, now displaying the same amount in the rewards/claim section as the amount the user can actually claim so it is clear and transparent on the UI. Users can now clearly see their claimable rewards and needn’t worry about the underlying formula.

The system is designed this way to encourage sticky, long-term engagement in the protocol and give the highest rewards to those that demonstrate a longer term commitment to the growth of Vine.

To summarise the protocol functions as intended, no one has "lost" rewards, and we are making continuous UI upgrades to ensure a clear and efficient user experience.

Next Steps

To the best of our knowledge and based on community feedback we believe the primary centralization issues and any oustanding bugs have been fixed or clarified. We will continue to make improvements to the UI based on user feedback.

We have approached IllumineX and asked them to kindly whitelist VINE and vUSD on their DEX. We are submitting the necessary information for CG, CMC, DexScreener, and DeFiLlama.

Now our focus is on community building, marketing and business development to bring new users to Sapphire and Vine, and TVL and utility for both VINE and vUSD tokens.

We’ve now got over $360k in TVL, $160k vUSD in circulation, and $330k+ accumulated in our LP and Stability Pools, which provide a robust basis for the next stages of our growth.

We appreciate the patience and support from everyone in the Oasis Sapphire community, and two weeks in believe we have a solid base to focus on collaboration and growth of the Sapphire ecosystem.

Join us during the Oasis ecosystem call tomorrow to learn more about the future of VineMoney!

https://x.com/OasisProtocol/status/1805377734282994055