Oct 022020
 
how to buy CORE defi token from cvault finance

This is a guide on how to buy CORE token from Cvault finance.

Like with many other DeFi tokens in recent weeks, CORE is inspired by YFI especially the vaults feature. While YFI had the lead for a couple of months after launch, newer projects like Core and Pickle are nibbling at its heels. This is not surprising since the rewards are high – after all, YFI is close to a billion dollars in marketcap and even if a new project can get 1%-10% of that market, it is worth a try.

CORE has strategy contracts similar to YFI. These charge a 5% performance fee. This fee is used to auto buy the CORE token. There does not seem to be any withdrawal fee from these vaults.

CORE however goes beyond just a usual clone. It has a funky UI which has become the norm after Curve. More interestingly though, it is a deflationary token unlike YFI which is a fixed supply token. The number of CORE tokens is capped at 10,000 but that number will only go down over time.

How to Buy CORE

Currently the best way to buy CORE with ETH is on Uniswap. If you’re starting from a non-ETH token – say you want to diversity from YFI, make sure to first convert to ETH on an aggregator like 1inch so you get the best rate.

As you can see, CORE has healthy trading volume. Over the last 24 hours, the trading volume of CORE on Uniswap is over $70 million. This is pretty impressive by itself. This is almost 3 times as high as YFI in the same time frame.

CORE trading volume on Uniswap

How to Farm CORE

Currently you can also farm CORE with the CORE-WETH Uniswap LP token. Once you have acquired this token, you can go to cvault.finance and stake this token under Wallet > Farm.

Before you farm for CORE, be aware that this is unlike other LP tokens that you may have used to farm. In the team’s own words,

Note that once added, liquidity tokens can not be removed from the CORE Uniswap LP pools. This is by design

Therefore, don’t farm CORE without doing your due diligence and research first.

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