Earning APY on DOGE with Thorsaver’s Vaults on KeepKey

Utilizing the ShapeShift Application

Technologies Used

• Dogecoin: https://dogecoin.com/
• KeepKey Desktop: https://keepkey.com/get-started
• ShapeShift dApp: https://shapeshift.com/

Topics Covered

• DeFi: https://www.coinbase.com/learn/crypto-basics/what-is-defi
• Staking: https://www.coinbase.com/learn/crypto-basics/what-is-staking
• dApps: https://www.keepkey.com/dapps
• Thorchain: https://thorchain.org/

Frequently Asked Questions

How do I stake?

Follow this guide: How to stake unwrapped native Dogecoin on Thorchain

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Deposited assets are secure in THORChain’s liquidity pools. THORChain utilizes several mechanisms to secure its liquidity. As a network, THORChain is composed of ~100 anonymous nodes — each of which bond RUNE to validate blocks and earn rewards on THORChain. There are 5 Asgard Vaults — each of which is controlled by 20 randomly selected nodes via Threshold Signature Schemes (TSS). There is no person, group, or entity that can unilaterally control user funds on THORChain. In the event of a loss of funds, node bonds are slashed to recoup all losses due to all vaults always being overcollateralized. The solvency of THORChain’s vaults can always be verified on-chain.

Transparency is the default. All user funds are always solvent, accessible, and verifiable on-chain.

There are no minimums, and with Dogecoin fees for adding and removing liquidity are very minuscule compared to other DeFi protocols, for instance, on the Ethereum ecosystem.

Deposits are available for withdrawal.

Tutorial for withdrawal: How to unstake Dogecoin from a Thorsavers Vaults

There are no lock-up periods; you may withdraw from the pool at any time. (There are brief periods of maintenance in the pools, they are not scheduled and are uncommon.)

There are slippage fees paid on entering and exiting a Savers Vault. Slippage fees increase with deposit size relative to total pool depth. Smaller deposits and withdrawals will incur less slippage upon entry and exit, as will splitting up large transactions into smaller ones. Users should carefully consider their deposit and withdrawal size before taking any action — fees charged are final as soon as the transaction is made.

Earnings are LP based, meaning they are dependent on the amount of swap the pool makes. There are no penalties for you removing liquidity, nor multipliers for leaving your DOGE in the vaults long term.

Yield is variable and driven by swap fees, block rewards, pool depth, and the incentive pendulum. Annual percentage rates (APRs) are calculated using an extrapolation of past performance data from the last 30 days. Past performance does not guarantee or predict future results.

For more information on Thorsavers vaults:

Savers Vaults Live on THORChain
Deposit BTC, Earn BTC. Earn yield on your Layer 1 assets. THORChain Savers Vaults allow users to earn yield on native…

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