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FAQ
Frequently Asked Questions (FAQ) for Visor and related topics.
Here you will find our repository of Frequently Asked Questions (FAQ). If you don't see an answer here, consult the Visor team members or community moderators. We'll add it as soon as possible.

UNDER DEVELOPMENT

What is the general strategy of the team regarding growth?

The product comes first, as we believe user engagement and loyalty are key to build the future of Defi. We are actively engaging with the community and seeking new partnerships to find new ways to better serve our users.

Is Visor considering other applications for its technology besides liquidity pools?

Yes. There are many excellent applications for Uniswap V3. These include locking liquidity on Visor, decentralized ID, credit evaluations, lending, and much more.

Is Visor blockchain agnostic?

Visor is built on Ethereum and it would be difficult for us to migrate to another chain. If needed, it could be done though. We feel that Ethereum currently has a commanding lead as a platform for our application.

What makes Visor different from other LP solutions?

Visor is different in several ways. Our innovative use of NFTs as the smart vault ensures that your tokens remain safe while staking. We are strongly geared towards Uniswap V3 as well.

Has Visor had its code audited?

Visor is currently being audited by Certik.

I thought NFT’s were for art/collectibles…

NFTs typically contain distinctive information. These properties commonly manifest as art or in-game assets. Visor seeks to utilize NFTs capacity for uniqueness for different purposes, however. For example, we see this capacity as an opportunity to expose a vault's history of past interactions with DeFi protocols, holding merkle roots of large sets of permissioned addresses, enhanced liquidity visibility at a network level and more.

Why do we use WETH instead of ETH

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Does Visor have a cryptocurrency?

Yes. The VISR token.

What platform is VISR built on?

VISR is built on Ethereum (ETH) and is an ERC-20 token. Our NFT Smart Vault is an ERC-721 token (an NFT).

What is the contract address?

0xF938424F7210f31dF2Aee3011291b658f872e91e

Is this an EIP-55 address?

Yes. VISR’s contract address makes use of lower and uppercase letters.

Where can I store my VISR?

Anywhere you can store ERC-20 tokens. Metamask, Ledger , and Trezors with support for Ethereum. You’ll just need some Ethereum in the wallet ( gas ) to move it around.

What does the VISR token do?

Visor captures fees by taking 10% of the re-invested Uniswap v3 fees. Fees will be re-invested every X number of hours, which is also when VISR gets simultaneously purchased with 10% of the fees. That VISR is then distributed to those that stake VISR in their vault.

Will the VISR token ever do anything besides distributing revenue?

The VISR token will likely have other features in the future.

How do I find more information on the VISR token and contract?

Please see the Token Information links.

How do I find more information on VISR’s performance in the market?

VISR is currently tracking on all major charting and information databases. These include CoinGecko, AstroTools, DexTools, ChartEx, CoinMarketCap, LiveCoinWatch, Blockfolio, Delta, Coinbase, Crypto Slate, Coin Tracker, Messari, Crypto Rank, Nomics, and Crypto Atlas. All these sites are linked on our trading page.

How many VISR tokens are there?

There are 100,000,000 total VISR tokens.

How many VISR Tokens are circulating?

Approximately 25,000,000 (25%) of the 100,000,000 VISR tokens are circulating.

Was there always 100,000,000 tokens?

Yes. VISR has always had this supply.

Was there a presale or initial coin offering (ICO)?

VISR launched on Balancer’s Liquidity Bootstrapping Protocol. The purpose of the proposed Liquidity Bootstrapping event is to: Distribute the Visor token among the wider Visor community, to decentralize decision-making power. Build liquidity for the Visor protocol, setting it up for long-term success. Begin price discovery for the VISR token.

What is the Balancer Liquidity Bootstrapping Protocol?

A Balancer Liquidity Bootstrapping Pool is a pool designed to allow a project to generate liquidity through variable weighting of assets. This is a fair launch that makes distribution more equal between participants because the price curve is designed to dynamically react to the free market forces and is completely public. The price curve also does not favor early participants so alpha and insiders have no advantage.

What was the allocation?

30% of the total supply of VISR tokens will become available through the Liquidity Bootstrapping Event.

Was the allocation public or private?

Public. To participate in the fair launch anyone could visit our Balancer Bootstrapping Liquidity Pool.

When did the sale occur?

The fair launch on Balancer lasted 48 hours starting at 5pm on Friday, March 12th 2021.

What was paid for VISR?

Ethereum.

What were the prices of the bootstrapping protocol?

30 000 000 VISR and $100,000 USD in ETH with weights 96 : 4 = (30000000 * .96)/(56.33 * .04) The average price for participation in the Balancer Liquidity Bootstrapping Pool was nearly 40 cents. The price weights start at 96:4 and change linearly over time towards a 50%-50% split after 48 hours.

What level of liquidity is being provided on launch?

Liquidity Provision: 20% (Depositing ETH-VISR pair to Uniswap)

Is there a liquidity lock?

There initially was a liquidity lock on Unicrypt. But Visor is migrating to Uniswap V3, and there is currently no ability to lock funds. In fact, locking funds is not desirable due to the liquidity management requirements on Uniswap V3. Visor may explore locking other’s funds on V3 as part of our product.

What is the distribution of the VISR Token on launch?

Balancer Liquidity Bootstrapping Pool: 30% (LBP fair launch) Liquidity Provision: 20% (Depositing ETH-VISR pair to Uniswap) Post-launch Liquidity Minting Incentives: 25% Retroactive Gas subsidies: 5% Bounties / Grants: 10% Development / Operations: (Locked and released each month for 24 months) 10%

What is the Uniswap Liquidity Provision?

Liquidity will be provided immediately into Uniswap within the ETH-VISR pair. This will be 20% of the ETH raised and 20% of the tokens as needed. The Liquidity will be locked in Uniswap for the entire duration leading up to the Liquidity Minting phase and after.

What is the Post-launch Liquidity Mining Program?

The liquidity minting phases will consist of multiple rounds of liquidity incentivization periods. However, during our first phase of the reward program we will be optimizing for the minting and initial usage of the Visor NFT by key DeFi participants.The goal of the first phase is to distribute tokens to a wide range of smaller, very active participants in DeFi. To achieve this, we are introducing a whitelist where only addresses that have been active governance participants in other protocols are eligible. The whitelist is composed of addresses that participated in the off chain governance of any protocol on Snapshot.page or onchain governance on Compound, MakerDao or MolochDao as well as delegators on Compound, voters on Yearn, voters on UMA, delegators on YAM, voters and escrowers on Curve and delegators and voters on Uniswap. Before Phase 1 begins, there will be another announcement with all the deployment details and contracts. Phase 2 of the rewards program will focus on the incentivization of liquidity for VISR. This will additionally be accompanied with the use of a Visor NFT. Other phases of Liquidity Minting Incentives will follow soon after phase 2 and focus on the unique usage of the NFT for liquidity mining with our partners.

What are the Gas Subsidies?

Minting an NFT takes a significant amount of gas to execute the transaction. For this reason we are designating a portion of tokens and ETH to subsidize the gas costs for first time NFT minters who are on the whitelist.

How are the Bounties / Grants allocated?

In order to promote the standardization of NFT Smart Vault usage in DeFi, there are certain bounties and grants that we need to create to stimulate both developers and community involvement.

How is Development / Operations allocated?

In order to pay for costs associated with Visor, for future development and any initiatives that may arise, 10% of the tokens will be issued to the team for ongoing implementation of the Visor smart contracts, Web App, marketing, and continuing to build out what is on our development road map.

How are the development / operations funds locked and distributed?

Is VISR built with a proxy contract?

No. VISR’s token contract is customized and omits critical security flaws such as mint common on proxies.

I want to “invest” in Visor?

To be incredibly clear on the “investment” terminology, nobody is “investing” into VISR. There isn’t a single guarantee/commitment of return to qualify as an “investment”. If you own VISR and like the project, phenomenal. If you don’t, that’s okay also.

Where can I buy the VISR Token?

You can currently buy VISR on Uniswap.

Are you going to list on a centralized exchange (CEX)?

The Visor team has had discussions about that, and with a few exchanges. At this time, we are only listed on Uniswap . With the overall decline of CEXs, and our current unique role in Uniswap V3, we feel Uniswap is our best chance to offer liquidity and safe access to VISR. We do not want to pay to list a token that will likely not contribute much volume. Larger exchanges are always on the table in the future.

What if I see you listed on an exchange that’s not Uniswap?

Exchanges that we feel are legitimate that list the VISR token will be linked in our documentation and announced on our community channels?

Does Visor have a leader or a CEO?

There is no chief executive officer, founder, or official leader of Visor.

Is the team public or private (anonymous)?

In its current form, yes the team is anonymous.

Why is the team anonymous?

We want Visor to be about the protocol and not an individual or team.

How does the organization work?

Different members are responsible for code development, community moderation, document creation, marketing, and strategic decision-making. A development board exists where non-developers discuss ideas, strategies, and review documents.

Who are the project developers?

What do these developers do?

What’s the background of the developers?

Where does community interaction happen?

We have Discord , Telegram , Twitter , Medium , Reddit , and more.

How can I contact the Visor team?

You can reach out by messaging Visor team members and community managers on Discord, Telegram, Twitter, Reddit, or directpm/dm.
Why is active management needed?
Providing liquidity on Uniswap v3 got trickier and more labor-intensive (than it did in Uni v2) because LPs are required to provide liquidity at set price ranges, so if the price of the underlying asset moves outside of the set price range, the LP no longer earns fees without re-adjusting the price ranges. For example, if a user provides liquidity for the ETH-USDT pair at a price range between $2,500 - $3,000, and the price of ETH rises above $3,000, the user will no longer earn fees. Additionally, fees earned from providing liquidity are not automatically re-invested. Typically, the narrower the range that liquidity is provided, the greater the capital efficiency and the greater the yields that may be earned by the LP. Capital efficiency gains can reach up to 4000x improvement versus Uni V2 for LPs providing liquidity within a single 0.10% price range.. The Supervisor automatically manages the price ranges, rebalances assets, and re-invests earned fees to generate yields in an optimal fashion.

What are the benefits of active management?

Much higher yields than a passive LP strategy. Yields above 300% APR are not uncommon. Greater savings on gas fees as users only need to pay gas to deposit assets into their vaults. Compounding of fees through re-investment

What are the risk of active management?

Price risk – Regardless of which side of liquidity that you provide, you are still exposed to the price action of both pairs of assets; i.e. providing only USDC to the ETH-USDC LP pair, will still expose you to the price of ETH Divergence costs – Divergence costs represent impermanent loss becoming permanent as a result of rebalancing assets into a new range Impermanent loss can in certain cases be more pronounced than a Uni v2 strategy, but the higher yields from providing concentrated liquidity should more than make up for that
Are there any management fees?
10% of all fees earned go to VISR stakers and 90% get re-invested. No fees go to treasury
What is the difference between providing single-sided vs double-sided liquidity?
The main difference is convenience. You are able to supply only one side of the pair vs. both You will receive an LP percentage based on the value of your contributed assets You are still subject to IL (divergence costs) even if you supply only USDC of an ETH-USDC LP pair
What happens when there are more of one asset than the other in an LP pair?
The excess assets will then be placed in a limit position to enter into the main position as needed The alternative would be to swap for the correct balance of assets; however, this incurs a 0.3% swap fee which is unfavorable for returns
Does impermanent loss still exist? Even if I only provide stablecoins?
Yes, impermanent loss still exists even if you only provide USDC of the ETH-USDC pair The ability to provide only a single asset into the LP pair is strictly for convenience; your LP % exposes you to both assets in the pair. In Uniswap v3, the ratio of assets can waiver from a 50/50 ratio, unlike in Uniswap v2. As one asset moves up in price in relation to the other within a set price range, the ratio of that asset decreases in relation to the other. For example, in a ETH-USDT LP where liquidity is provided between $1000 - $3000 and the current price of ETH is $2000, as ETH approaches $3,000, an LP will have more USDT & as ETH declines to $1,000, an LP will have more ETH. Given the dynamics of Uniswap v3, impermanent loss can be more magnified than in a Uniswap v2 situation due to the fact that the ratio of assets can sway completely one way or the other

What is divergence cost?

Divergence cost is the result of impermanent loss becoming permanent As the price of an asset sways within its range and moves out of range, there will be some amount of impermanent loss, and rebalancing will realize and cement those losses

What do the APRs on the dashboard represent?

The APRs on the dashboard refer strictly to fee-based APR, which is total fees earned as of the last rebalance divided by the current value of assets

Do the APRs include IL or divergence costs?

No, the APRs currently do not reflect IL or divergence costs The new analytics dashboard will include profit & loss metrics and graphs to track your performance against other benchmarks
How are the fees distributed?
If you are an LP, your total assets + fees will be reflected in the “Current Balance” section of your dashboard When you stake VISR, you receive vVISR as a receipt token which represents your share of the vVISR pool. 10% of fees earned from the LP positions are used to buy back VISR and deposited into the vVISR pool. As more protocol fees are earned, the value of your vVISR will rise.
When I withdraw from an LP position, what assets do I receive?
You will receive assets directly in proportion to the assets in the pool regardless of what you originally deposited. I.e. even if you deposited only USDC into the ETH-USDC pair, you will receive back USDC & WETH
How are the fees handled?
90% of the fees will be automatically re-invested into the LP positions. 10% of the fees will be used to buy VISR on Uniswap and distributed to VISR stakers
Are the vaults audited?
An audit by Certik has been released. Please see here: https://link.medium.com/5LSj1rLZKhbWe also have an Immunefi bug bounty. Please see here: https://immunefi.com/bounty/visorfinance/Two more audits by top tier auditing firms (ConsenSys Diligence & Quantstamp) are currently in the works

Who is developing active management strategies

Gamma Strategies, a research foundation, is responsible for researching and developing active management strategies on Uniswap v3 for Visor Finance • If you are interested in developing strategies for Gamma, please apply here: https://airtable.com/shrE2y3iicf0IxkTi

What is vVISR?

vVISR is interest-bearing VISR which is the receipt token for staking VISR. 10% of protocol fees are used to buy back VISR on the open market and distributed to the vVISR pool. The value of your vVISR tokens will rise as the pool gets more funded with VISR distributions. In the past we distributed VISR to each individual vault. With vVISR, you will no longer receive these distributions, but instead will accrue the 10% protocol fees through the increased value of vVISR. Additionally, upon launching on Arbitrum and Optimism, those staking VISR will receive protocol fees from all networks. For more information see our docs here: https://docs.visor.finance/visr-economics/staking-visr-for-vvisr-fee-distributions

Why is active management on Uniswap v3 needed?

Providing liquidity on Uniswap v3 got trickier and more labor-intensive (than it did in Uni v2) because LPs are required to provide liquidity at set price ranges, so if the price of the underlying asset moves outside of the set price range, the LP no longer earns fees without re-adjusting the price ranges • For example, if a user provides liquidity for the ETH-USDT pair at a price range between $2,500 - $3,000, and the price of ETH rises above $3,000, the user will no longer earn fees • Additionally, fees earned from providing liquidity are not automatically re-invested • Typically, the narrower the range that liquidity is provided, the greater the capital efficiency and the greater the yields that may be earned by the LP • Capital efficiency gains can reach up to 4000x improvement versus Uni V2 for LPs providing liquidity within a single 0.10% price range. • The Visor Supervisor automatically manages the price ranges, rebalances assets, and re-invests earned fees to generate yields in an optimal fashion. . . (edited)

What are the benefits of active management?

• Much higher yields than a passive LP strategy. Yields above 300% APR are not uncommon. • Greater savings on gas fees as users only need to pay gas to deposit assets into their vaults. • Compounding of fees through re-investment . . (edited)

What are the risks of active management?

• Price risk – Regardless of which side of liquidity that you provide, you are still exposed to the price action of both pairs of assets; i.e. providing only USDC to the ETH-USDC LP pair, will still expose you to the price of ETH • Divergence costs – Divergence costs represent impermanent loss becoming permanent as a result of rebalancing assets into a new range • Impermanent loss can in certain cases be more pronounced than a Uni v2 strategy, but the higher yields from providing concentrated liquidity should more than make up for that . . (edited)

What is the difference between providing single-sided vs double-sided liquidity?

• The main difference is convenience. You are able to supply only one side of the pair vs. both • You will receive an LP percentage based on the value of your contributed assets • You are still subject to IL (divergence costs) even if you supply only USDC of an ETH-USDC LP pair . .

What happens when there are more of one asset than the other in an LP pair?

The excess assets will then be placed in a limit position to enter into the main position as needed • The alternative would be to swap for the correct balance of assets; however, this incurs a 0.3% swap fee which is unfavorable for returns . .

Does impermanent loss still exist? Even if I only provide stablecoins?

Yes, impermanent loss still exists even if you only provide USDC of the ETH-USDC pair • The ability to provide only a single asset into the LP pair is strictly for convenience; your LP % exposes you to both assets in the pair . .
What is divergence cost?
Divergence cost is the result of impermanent loss becoming permanent • As the price of an asset sways within its range, there will be some amount of impermanent loss • When the price of an asset moves out of range, and the assets are rebalanced, then the impermanent loss becomes permanent resulting in divergence costs . .

What do the APRs on the dashboard represent?

The APRs on the dashboard refer strictly to fee-based APR, which is based on average of the past 7 days of fees earned. It is also compounded daily to account for daily reinvestment . . (edited)

Do the APRs include IL or divergence costs?

No, the APRs currently do not reflect IL or divergence costs • The new analytics dashboard will include profit & loss metrics and graphs to track your performance against other benchmarks . . (edited)
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When will the new analytics dashboard be released?

We hope to have this out soon. We are still working on the new dashboard which will show personalized profitability metrics, showing total APR, inclusive of divergence costs . .

Are there any management fees?

All fees go to the community • 10% of all fees earned from LP positions are used to buy back VISR and are distributed to VISR stakers • 90% of all fees earned from LP positions get re-invested in the LP positions . . (edited

How are the fees distributed?

• If you are an LP, your total assets + fees will be reflected in the “Current Balance” section of your dashboard • When you stake VISR, you receive vVISR as a receipt token which represents your share of the vVISR pool. 10% of fees earned from the LP positions are used to buy back VISR and deposited into the vVISR pool. As more protocol fees are earned, the value of your vVISR will rise. .

When and how often will my LP position accumulate fees?

• Once a day, fees will be collected from the LP position and 90% will be re-invested back into the position • Therefore, if you staked, you must wait at least one day to see the fees accumulated in your position . . (edited)

When I withdraw from an LP position, what assets do I receive?

You will receive assets directly in proportion to the assets in the pool regardless of what you originally deposited • I.e. even if you deposited only USDC into the ETH-USDC pair, you will receive back USDC & WETH . .

Why did I not receive all my assets upon withdrawal?

You likely do not have WETH as recognizable in your Metamask wallet • Add the token address for WETH in your Metamask wallet and you should be able to see WETH in there . .

Why am I seeing super high gas prices?

You likely deposited assets in excess of the individual cap . .
Can I deposit multiple times?
Yes, you can deposit as many times as you like. Total deposit value can exceed the cap. . . (edited)

Will the individual deposit caps be removed? What is the point of having caps if I can just deposit multiple times? -

Likely not. They are in place for flashloan mitigation & security purposes . .

What is progressive cap? -

The progressive cap indicates how full the vault is. The closer the % is to 100, the closer the global cap for that vault has been reached. - It is called progressive cap because it represents a certain % of the overall pool size on Uniswap v3. So as the TVL in the overall Uniswap v3 pool increases, the Visor global cap for that vault will increase accordingly . . . (edited)

How well do the Visor Vaults perform?

The Visor Vaults are highly likely to outperform a passive strategy on Uniswap v3 due to providing liquidity in a concentrated range • The analytics detailing performance metrics for the ETH-USDT pair can be viewed here:
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