Vapor DAO (💧,💧)

Vapor is the first reserve currency riding the waves of the #Suinami 🌊

Community-run account: @VaporeonOnSui

[Vapor DAO (💧,💧) @VaporProtocol]

@Sui_jak LEGENDARY

[Vapor DAO (💧,💧) @VaporProtocol]

💀💀💀

[Vapor DAO (💧,💧) @VaporProtocol]

Reminder! 🚨🚨🚨

Many have still not redeemed their $Vapor.

Please read:

Vapor DAO will be winding down all operations. Unfortunately, the protocol did not see the traction we hoped for and will be refunding the entire SUI backing back to existing VAPOR holders. The treasury has profited 15,000 SUI through passive income strategies over time, and the VAPOR/SUI LP will be removed to add the SUI in the LP to the total redemption amount.

Total amount of SUI to be refunded:
190,077 SUI in treasury +16,525 SUI in LP = 206,602 SUI

Recent buyers this month will be refunded at break even. Buyers after this post was published will be not receive a refund, as a snapshot has been taken last month and the treasury refund will go to existing holders who have held until the Vapor closure.

Each VAPOR token will be redeemable for 1.262 SUI

Refund Process:

(1) Holders must first unstake their sVAPOR tokens through the UI https://t.co/5JDHky8UwW

(2) Eligible holders must send their VAPOR tokens to the treasury address vaporfarming.sui or 0xd48b79199748b9c1ddfa81618258a67ac49db4e378e996e114abc88ce033fa98

(3) VAPOR transfers will be indexed and SUI will be refunded to the sender address.

[Vapor DAO (💧,💧) @VaporProtocol]

Important Announcement:

Vapor DAO will be winding down all operations. Unfortunately, the protocol did not see the traction we hoped for and will be refunding the entire SUI backing back to existing VAPOR holders. The treasury has profited 15,000 SUI through passive income strategies over time, and the VAPOR/SUI LP will be removed to add the SUI in the LP to the total redemption amount.

Total amount of SUI to be refunded:
190,077 SUI in treasury +16,525 SUI in LP = 206,602 SUI

Recent buyers this month will be refunded at break even. Buyers after this post was published will be not receive a refund, as a snapshot has been taken last month and the treasury refund will go to existing holders who have held until the Vapor closure.

Each VAPOR token will be redeemable for 1.262 SUI

Refund Process:

(1) Holders must first unstake their sVAPOR tokens through the UI https://t.co/5JDHky8mHo

(2) Eligible holders must send their VAPOR tokens to the treasury address vaporfarming.sui or 0xd48b79199748b9c1ddfa81618258a67ac49db4e378e996e114abc88ce033fa98

(3) VAPOR transfers will be indexed and SUI will be refunded to the sender address.

[Vapor DAO (💧,💧) @VaporProtocol]

GM, fam –

Over the past two weeks, we’ve executed four more $vapor buybacks, spending a total of 4,710 $sui to purchase + burn an additional 6,347 $vapor.

This brings the total amount of $vapor that we’ve permanently removed from the market to 31,428 (~13% of the total supply).

Have a great weekend!

[Vapor DAO (💧,💧) @VaporProtocol]

@0xM_TT 🧑‍🏭

[Vapor DAO (💧,💧) @VaporProtocol]

@richby33 👀👀

[Vapor DAO (💧,💧) @VaporProtocol]

Happy Friday, Vapor fam!

Over the past week, we’ve executed three more $vapor buybacks, spending 1,682 $sui to purchase and burn an additional 1,560 $vapor.

This brings the total amount of $vapor that we’ve permanently removed from the market to 24,931 (~10.5% of the total supply).

[Vapor DAO (💧,💧) @VaporProtocol]

@0xM_TT 🙏

[Vapor DAO (💧,💧) @VaporProtocol]

GM Vapor family.

Over the past week, we’ve executed four more $vapor buybacks: spending 2,230 $sui to purchase/burn an additional 2,694 $vapor.

This brings the total amount of $vapor that we’ve acquired to permanently remove from the market to 23,371 (~10% of the total supply).

Of the remaining supply, 124,000 $vapor are staked and 35,818 $vapor are in the LP.

[Matt @0xM_TT]

There's a lot of conversation around the upcoming Sui token unlock starting this Friday, May 3. Understandable—it's a big one—with the circulating supply of Sui set to increase by ~1bn. A lot of the speculation is naturally around potential price action, but from my view, we're just turning the page to an even more exciting phase for Sui as a technology and ecosystem, so let's unpack it a bit.

Firstly, a breakdown of where the 1BN unlocked tokens are going (represents ~10% of Sui's Max Total Supply and a 75% increase over the present circulating supply):

• Series A investors: 496M Sui – *new tranche
• Series B investors: 232M Sui – *new tranche
• Early contributors: 109M Sui – *new tranche
• Community reserve: 148M Sui – *net new
• Stake subsidies: 2M Sui – *net new
• Mysten treasury: 14M Sui – *new tranche

Price speculation: any negative impact will likely be short-term with the dynamic being reminiscent of Solana's major token unlock in January 2021. For comparison's sake, that unlock saw the circulating supply of Solana grow by 211% (from 151M to 470M $SOL). By November 2021, the price of $SOL had appreciated to a high of 108x its pre-unlock price (from ~$2.3 to $259) before closing out the year at $177 (~75x its pre-unlock price).

Wild! And while it'd be silly to assume that $SUI will appreciate in a similar manner (different macro + supply/demand dynamics, etc.), it's reasonable to expect the new liquidity to be a net positive for the ecosystem with $SUI price appreciation to follow.

IMO, Sui represents the most significant leap forward in L1 tech since ETH (yes, I believe it's another stratosphere vs. Solana). Combined with explosive and accelerating YTD growth across TVL, ecosystem projects, and active users, it's safe to say the most exciting times lie ahead, and soon we'll see the truly game-changing Web3 consumer apps that we've all been waiting on. Follow the tech, my friend.

If you're new to Sui, and looking to dip your toes in, here are some of my favorite projects by category, and builders worth following:

Projects
• @navi_protocol - Lending
• @Scallop_io - Lending
• @suilendprotocol - Lending
• @VaporProtocol - Reserve Currency + Liquid HF
• @TypusFinance - Options Vaults
• @CetusProtocol - DEX
• @Turbos_finance - DEX / CLMM
• @HopAggregator - DEX Aggregator
• @AftermathFi - DEX Aggregator
• @ABExFinance - Derivatives
• @bluefinapp - Derivatives
• @SuiNSdapp - Sui Name Service (SNS)
• @SuiGenerisAH - 1of1 Auction House
• @suiscanofficial - Explorer (SuiScan)
• @blockvisionhq - Explorer (SuiVision)

Builders
• @EvanWeb3 - Co-founder + CEO @Mysten_Labs
• @b1ackd0g - Co-founder + CTO @Mysten_Labs
• @EmanAbio - Co-founder + CPO @Mysten_Labs
• @elliscopef - Cooking @ Navi
• @its_matrix_rick - Cooking @ [redacted] (w/ me)
• @_smkotaro - Co-founder + Creative @_StudioMirai
• @0xrinegade - Founder & CEO @aldrin_labs
• @Zzvonarka - NFT Artist (Unbound, Galaxy25)
• @Eason_C13 - Researcher @bucket_protocol
• @matteodotsui - High-value Info Guy
• @AF_intern - A literal egg

Let's build.

[Vapor DAO (💧,💧) @VaporProtocol]

We've executed two more $vapor buybacks to round out the week—spending 370 Sui to purchase 490 $vapor from the market.

To-date, this brings the total amount of $vapor we’ve permanently removed from the market to 8,586.

Have a great weekend! 🏝️

[Vapor DAO (💧,💧) @VaporProtocol]

We've just executed our 10th buyback of $vapor using yield generated from our Treasury staking strategies—spending 1,000 Sui ($1,369 USD) to purchase 1,513 $vapor from the market.

To-date, this brings the total amount of $vapor we’ve acquired to permanently remove from the market to 8,096.

[Vapor DAO (💧,💧) @VaporProtocol]

Pandora Finance <> Vapor DAO Whitelist Giveaway!

@pandora_finance is offering 20 whitelist spots to the Vapor community for their groundbreaking Hybrid NFT mint on Sui: Pandorian! How to enter:

1⃣ - follow @VaporProtocol & @pandora_finance
2⃣ - like & retweet this post
3⃣ - tag 3 friends in the comments

🍾 Winners announced this Friday, April 26!

[Vapor DAO (💧,💧) @VaporProtocol]

@bishengke_eth 🕰️

[Vapor DAO (💧,💧) @VaporProtocol]

We've executed another 1,100 Sui ($1,340 USD) buyback this morning using yield generated from our Treasury staking strategies—effectively removing an additional 1,266 $vapor from the circulating supply.

Blue skies at last. 🫡

[Vapor DAO (💧,💧) @VaporProtocol]

@bishengke_eth We'll be sure to tag you this time next month. 😂

[Vapor DAO (💧,💧) @VaporProtocol]

@citadelwolff @Sceat_ Thanks for sharing 🤝

[Vapor DAO (💧,💧) @VaporProtocol]

@citadelwolff @Forgiving15 And to clarify – we have used some "yield" from Treasury to buy back tokens, which is part of our strategy, but have not use a cent of the Treasury's principal. The rest of the buys after Sceat sold were free market participants. These are just the facts.

[Vapor DAO (💧,💧) @VaporProtocol]

He sold his tokens and then the market bought them back? Not a single cent from Treasury was used to buy back the tokens. Rather, there were multiple new buyers + existing holders and founders rebuying, also known as: a free market.

Moreover, did you know that Sceat made a profit on his dealings with Vapor? Probably not. At one point he was holding 25% of the tokens due to a bonding error. Fair play, our mistake. But during that time he was consistently selling into the market for more than 8,600 SUI + he received another $14-15K USD in his market sell earlier this week. All of fair play, but no one is a “victim” here – the protocol is working exactly as stated. There is no “peg” – read the docs, which simply say that we’ll enable inverse bonds if the market price stays *persistently* below $1. "Persistently" – words are important. No one forced Sceat to sell his tokens (which were essentially free due to our bonding mistake) when he did.

Everything mentioned above is public information that can easily be verified by looking at transaction data.

Facts are important.