The CORE team has been working on building an ecosystem that distances itself from the unsustainable trends in DeFi and clearly draws a path of innovation. COREVault launched September 2020, introducing deflationary farming to the public, a new concept that was foreign to this sector. The team wanted to emphasize that taking the risk, to do something different, is necessary to push this space forward. Our first Liquidity Generation Event caught everyone by surprise and resulted in one of DeFi’s fairest distributions. Three months later, our community is standing strong with a total of three liquidity pools. …
Protect your capital through Smart Contract Coverage
CORE decided to collaborate with COVER Protocol and bring smart contract coverage to our ecosystem.
In order to give our users the best experience, this article will explain the main points on how COVER works and how the CORE community can benefit from this collaboration.
COVER is a peer to peer smart contract coverage protocol. You can participate in this protocol either as a Coverage Seeker or Market Maker (Liquidity Provider).
A Coverage Seeker aims to secure their capital by purchasing smart contract coverage. …
With the completion of our third and final Liquidity Generation Event, CORE ended its fundraising phase. Phase 0 created a strong foundation for CORE by establishing three liquidity pools which contribute to a TVL of $42,000,000. With the wCORE/coreDAI LP tokens distributed, our community looks forward to the launch of Phase 1. The next chapter in our ecosystem will focus our development towards value creation, by implementing new strategies and tools which take advantage of our locked liquidity.
Phase 1 will not only emphasize on developing the protocol further but also forming strategic partnerships and creating valuable collaborations which will accelerate CORE’s value creation goals. The first collaboration will improve the security of our users capital. CORE decided to partner with Cover Protocol to deliver Smart Contract Coverage to our users. We offer lucrative incentives through their shield mining mechanism, to attract market makers to our coverage pools. …
FANNY, our dynamically priced merchandise token, creates new possibilities for CORE. For the next 30 days (200,000 Blocks), users can stake CORE in the FANNY Vault and receive staking rewards paid in FANNY.
Staking and unstaking CORE tokens does not have a Fee On Transfer, giving you full flexibility.
A total of 100 FANNY tokens are farmable for the next 30 days by staking CORE in the Fanny Vault.
Users can increase their yield, by choosing to lock up CORE for a specific period or burn CORE for an extra 25x Multiplier. Each month of locking up your token, will add towards your Multiplier. Starting at 1x for no lock-ups and 12x for locking up your CORE token for 12 months. …
The Final Liquidity Generation Event (LGE) is launching tomorrow, it will last 7 days and introduce stable coin DAI to CORE’s ecosystem. Recent trends in DeFi have shown increasing demand for stablecoins, since they are naturally used to short crypto markets. LGE 3 will be the final opportunity for participants to contribute to the pre launch of CORE. Arbitrage will grow extensively, our ecosystem will be able to use this stable coin pair to hedge against any downward movements in the cryptocurrency market and the new pair will be essential for our future lending product.
Participation in the third Liquidity Generation Event is the final opportunity to contribute funds and receive a pre-launch position in the project. …
CORE owes its initial success to its early supporters who provided the first liquidity and made this project possible. The continued support of our community helped us grow rapidly. To celebrate this, we decided to create limited-edition merchandise with a twist.
FANNY is a different approach of distributing and pricing merchandise. We let the community determine the price of our limited-edition merchandise by creating an ERC-20 token which can be redeemed for a real-world exclusive CORE Fanny Pack and putting it in a Liquidity pool, together with CORE. Each buy and sell of FANNY influences the price, making it truly a community priced merchandise token. In addition to trading, 100 FANNY tokens will be farmable for 200,000 Blocks (~30 Days) after launch, by staking CORE in the FANNY Vault. These rewards will be distributed equally among all staked CORE. …
After successfully launching CORE’s second pool and adding over $3 Million worth of Bitcoin as an underlying asset to CORE’s ecosystem, the project is preparing for its third and final Liquidity Generation Event.
Connecting DAI to CORE’s ecosystem
Phase 0 of the project aims to create a strong foundation which allows us to build new tools and strategies to harness the power of locked liquidity. A successful completion of the first phase is achieved by linking the majority of the cryptocurrency market to CORE. This is done by carefully choosing pairs and timing our Liquidity Generation Events accordingly.
The first LGE launched CORE and linked the ecosystem to Ethereum and its underlying projects/tokens. Wrapped Bitcoin was chosen to join the ecosystem for the second Liquidity Generation Event. It connects CORE to the world’s hardest asset and creates exposure to Bitcoin price movements. The third LGE will introduce the stable coin DAI to the ecosystem, representing the link to fiat currencies. Assessing current market movements signifies a unique opportunity to add a stable coin to CORE. The new pool will be affected by Ethereum, Bitcoin and CORE price movements. If the price of these assets increase, the stable coin pool‘s liquidity will rise. …
After announcing the absorption of ENCORE, several other forks have come forth, asking to be absorbed.
A due diligence check is needed for each new absorption. We assess the smart contracts and check for alterations in the code. If all processes check out, we give the green light to receiving the keys.
CORE developed the Fork Migrator Contract which allows us to mix and match multiple LP zaps. This is required to efficiently absorb a multitude of projects. Our goal is to migrate these forks into CORE’s ecosystem and give them maximum value for their migrated tokens. …
To make sure you have a good understanding on how to use the new feature, we need to break down the mechanics on how CORE’s Flash Arbitrage works and then take a deep dive into the smart contracts.
CORE Flash Arbitrage consists of two principals:
Arbitrage represents an opportunity for low risk profit from discrepancies in prices of financial instruments. While Supply and Demand is the primary driving factor behind financial markets, a change in one of these factors can affect the price of an asset. To successfully profit from such an opportunity, one must spot the differences in price. In other words, if one and the same product is traded on two markets at different prices, one may profit from arbitrage. …
On October 17th, 2020, the CORE team launched a Bug Bounty Program for its Smart Contracts. We have been evaluating reports on bugs and vulnerabilities submitted by dedicated CORE community members and security specialists. Thanks to their reports, we were able to improve the security of our ecosystem and implement fixes.