We've answered some of the most commonly asked questions for Vaults from the community in this F.A.Q list below.
1. Does Unagii have a token?
Unagii has not issued any governance token. Any tokens seemingly related to Unagii in the market now is a scam. Kindly stay vigilant and do not fall for scams.
2. Will Unagii be issuing a token?
No comment. There are no plans at the moment.
3. What is the APY shown based on?
The Annual Percentage Yield (APY) shown for Vaults is a weekly annualized rate.
It is computed post-performance fee and 3-days period compounding.
Hovering over the ROI rates on the Deposit page will show full daily and weekly rates.
It does not include bonus/slippages incurred on Convex and Curve Finance Strategies.
4. Why does the APY fluctuate?
The APY on our Vaults, which are currently yielding in Compound Finance and Convex/Curve Finance strategies, are highly dependent on $CRV prices, $CVX prices, $COMP prices, trading fees earned by the pool (if any) and lending yields (if any).
5. How are the APYs so high?
We have a list of whitelisted strategies to ensure that our Vaults will optimize to deploy on the highest-performing strategy in the market.
Currently, our Vaults are designed to auto-harvest $CRV and $CVX from the Convex strategy pools or $COMP from the Compound leveraged strategy, then sold into the base asset with the highest premium. This allows for the most efficient compounding while removing all gas costs for the user beyond deposit or withdrawal.
6. Why isn’t my balance being updated?
Balances shown in your Portfolio are updated in real-time daily. Try refreshing the Portfolio page for an update.
A 72hr change indicator has been included for better visibility on the Portfolio page.
We recommend checking your deposits again after a few days to see greater accrued earnings after a 3-day harvests.
If you are an Unagii account user, you can download a CSV file that shows your Portfolio balances on a daily basis up to 12 months.
7. Why are my Vaults balances fluctuating?
Depositing stablecoin that is less valuable (relative to other stablecoins) into some protocols such as Convex and Curve Finance returns fewer shares than depositing more valuable stablecoin.
Fewer shares mean you can withdraw less. Hence, you may notice a dip in your balance for stablecoins like USDC and USDT, before balances go up again from accruing interest, trading fees, and profit from governance tokens.
Depending on the Strategy of the Vault, deposits might be subjected to some slippage that will be reflected in your balance. Leaving deposits in the Vault for a few days to offset any slippage is recommended.
There might also be instances where the Compound Finance leverage Strategy returns a slighty negative APY until the harvest. This is due to variable borrowing rates incurred by the Strategy.
8. Is there any insurance cover for the Vaults in the event of a hack or exploit?
Not at the moment. But we may explore existing offerings in the market.
12. What are the fees involved?
A 10% performance fee is the only fee Unagii charges. It is auto-deducted from earnings from selling incentive tokens when we call harvest once every 3 days.
There are no deposit or withdrawal fee. And no management fee.
Ethereum gas costs are borne by users - for initial approval of the Unagii smart contract, deposits, and withdrawals.