What are the odds the team changes their mind on the 12000VRT to 1 XVS swap option?

With everything that has happened I really worry that they will change their minds again and decide NOT to offer the 12000/1 VRT swap. I worry because I have a lot of VRT that I cant do anything with right now. I had it on pancake swap earning interest but they just ended that.

I am hoping they stick to their word and offer this with their new Vault.

Also, anyone know when the new Vault is going to be released? Beginning of the month they said it was going to be mid Sept and it hasnt happened yet.

I love Venus Defi, I just am hoping I dont get screwed.


From the last weekly update.

" Venus Vault

Some issues in the vault code and tests have been identified after thorough testing and review. We are going to delay the release and focus on fixing these issues. Security is not an option but an obligation. The new estimate for the release is early October."

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I have a lot of VRT

Quick question: how did you get them?
Airdrop? If yes, so you got them for free, and so you’ve nothing to lose.
I still don’t get that rage around VRT, this token never really had any consistence or value, and is not in the Venus Whitepaper (unlike XVS and VAI). The Venus token is XVS, its stablecoin is VAI, simple. Why VRT? To avoid diluting XVS value? But where would VRT value come from then? Just looping non-sense.

Many people bought/held XVS to get the airdrop, when it was trading at a high price.

I don’t get where the value comes from either, people did try drawing parallels with Vechain and their dual tokens, but like you said VRT is not in the whitepaper.

So they’re crying because they’re bad at trading cryptos?
The last BTC I sold was for $3000 years ago. The last I bought was $40000 days ago. I’m definitively not a good BTC trader, but I’m not crying on Satoshi’s shoulders.

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Im not crying. Its promises that were lies. Like Fat said, the price of XVS spiked before the VRT airdrop. People wanted to get the airdrop so the price went up. But low and behold it also went up because it was a planned scam by the previous team that none of us knew about.

We just dont want to be lied to and scammed again.

Fool me once…

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This is what I call bad trading: actually buying high a real token to potentially get, in some vague future, an obscure token with no value.
About lies, Joselito also promised us, VAI holders (sorry to switch again to the VAI topic) he would set-up the Stability fee, around april 2021. Then he vanished and that feature is barely planned as of today.
I talked about VRT and VAI holders. What Joselito lie am I missing? Ho, sure, the one toward XVS holders.

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Im not going to debate with you. You obviously dont agree and that is fine. That is your opinion. But you cant argue that Venus has a history of being missleading and bad behavior. If you are honest with yourself you can think of a list of things.

Hence my concern that they will again change their mind.

I found we agreed on all but the legit status of VRT. I see it as an airdropped valueless token noone should expect to get anything back from.
Baring from that, I love Venus, am a very early adopter, and blame only who Joselito became and said just before leaving Venus.

Meanwhile, everything Venus did followed the good way:

  • Stop VAI minting (yes, VAI, again)
  • Planned Stability fee
  • Using the Guardian to Cancel the fraudulent VIP40 and 42
  • Simply give-up VRT and cancel it (I own VRT and am ready to lose them, no matter, I got them for free)
  • Killing the principle of XVS borrowing rewarded with more XVS (another arithmetic loophole)
  • Adding quality tokens like TUSD

I’m not bashing Venus at all, and congratulated them several time. Just, that VRT thing is a relic of the past and takes much more resources than it should, IMHO.

Waiting is long, time is precious

A relic of another Venus lie from only 3 months ago… I wouldnt call that the distant past…

I am glad you are ok with losing them. I have a lot of them and I am expecting something for them. I am hoping they dont do what they have done many times already…

While I have been critical of the new team, they seem to be moving in the right direction.

I would like to see more updates, although once a week is still pretty good. I just wished things would move a bit faster.

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When things were really urgent (VIP40 and 42, and previously the lack of VAI liquidation) they moved super quick. After all, that’s what counts.
It would have been better they stop the XVS leak out of the XVS borrow faster, for example, but that’s not that an issue.

Stupid question: what about exchanging them on Pancake?
I tend to be harsh about airdropped tokens because I only had bad experiences with them. From HUSH in 2016 (very quickly became valueless) to more recently r4BELT (same). I feel like noone should expect an airdropped token to have any actual value.

Sad but true, these events tend to be buy the rumor sell the news events, normally better off selling the day before the drop and then buying a few weeks after if you want the “free” tokens.

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