Dragon Bank FAQs

Dragon Bank, a decentralized lending platform, prioritizes capital efficiency, enabling both protocols and individuals to lend and borrow cryptocurrencies across Ethereum, Fantom, Avalanche, and Optimism. It plays a crucial role in enhancing the DeFi lending ecosystem, promoting safety and efficiency by establishing trusted entities as the backbone for both DeFi and CeFi liquidity infrastructure.

Dragon Bank leverages smart contract automation to facilitate protocol-to-protocol lending through whitelisting, featuring both undercollateralized and uncollateralized lending options. Its collaborative partners encompass Fixed Forex (Keep3r Network), Yearn Vaults (Yearn Finance), Alpha Homora (Alpha Venture DAO), Multichain, PleasrDAO, and others. Although its primary focus is on protocol usage, Dragon Bank extends its services to non-protocol users, allowing them to seamlessly supply and borrow within its platform.

About Dragon Bank & veDB

#1	Frequently Asked Questions	Answer	Reference Anns
1	What is veDB?	veDB acts as the value accrual token for Dragon Bank and is a modified version of the veCRV token model with elements of Andre Cronje’s ve(3,3) model for Solidly. 25% of Dragon Bank protocol fees will be shared regularly with veDB holders by weekly. As with veCRV, the amount of veDB a user receives is dependent on how long the underlying DB tokens are locked, up to a maximum of 4 year.	https://twitter.com/ibdotxyz/status/1514551493981966340?s=20&t=k5B2GetUdynOYKabXIRmVw
2	What is the key differences between veDB and veCRV?	One wallet can have multiple time locks as a NFT- The veDB time lock / NFT is transferable
3	How can I lock $DB for veDB?	To lock DB tokens for veDB:- Go to https://app.dragonbank.xyz/vedb- Click “Create Lock”- Click “Approve” and confirm the tx in wallet- Decide DB token amount and duration(from 1week to 4 years) to stake- Click “Stake” and confirm the tx in wallet
4	Is the veDB transferable?	The veDB time lock / NFT is transferable
5	Which chain does veDB exist?	veDB is deployed on Fantom Opera network and migrated to Optimism from Nov 3rd 2022.	Migration from Fantom to Optimism: https://twitter.com/ibdotxyz/status/1580485970205417472?s=20&t=BzLEcetE4n03S1h8ACJxzQ
6	Can I update the locking duration or change the $DB amount I've locked into veDB?	Yes, you can increase the locking duration and lock more DB token to the veDB NFT through the 'Manage' button here. Once the veDB NFT is created, decreasing the locking duration and reducing the DB token amount is not allowed.
7	Can I hold several veDB NFTs in one wallet?	Yes, you can create different lock at https://app.dragonbank.org/vedb
8	How does the weekly protocol fee distribution work?	25% of Dragon Bank's protocol fees will be distributed & claimable every Thursday for the fees earned in the previous week. To be eligible for a weekly emission, the user must hold veDB by Wednesday 23:59 UTC for the week prior. Protocol fees are distributed in $dUSDC, tokenized deposit position for $USDC on Dragon Bank Optimism. Example: Lock for veDB by Apr 20 23:59pm UTC and 25% of the Dragon Bank protocol fees earned between Apr 21-27 will be claimable on Apr 28 in $dUSDC.	https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=k5B2GetUdynOYKabXIRmVw
9	Where can I claim the rewards?	You can check the rewards and claim rewards at https://app.dragonbank.xyz/vedb
10	How do I know about the reward APR?	You can check the reward APR at https://app.dragonbank.xyz/vedb. The reward APR is based on 4-year lock of veDB and previous week's rewards.
11	For the veDB holders who locked before Apr 20, 2022, what kind of the fee distribution they can get?	In addition to the weekly fee distribution, veDB holders who locked before Apr 20, 2022 UTC will also be able to claim the following tokens, starting Apr 28, 2022: - veDB distribution: 2.02M veDB over 52 weeks, - Protocol Earned SOLID: ~133.7K $SOLID over 4 weeks, - Protocol fee(Feb 24~Apr 20): ~269K dUSDC over 4weeks. For the veDB holders who locked after Apr 20 2022 UTC, the reward will begin to be calculated once the lock/claim is processed and the distribution takes place on every Thursday as the same way as weekly protocol fee distribution. Check the announcement & numbers: https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=0y-3vMts271aiJjQGq 40nw **The iceCREAM and Long-term CREAM stakers prior to the snapshot block 14319512 can claim their veDB at app.dragonbank.xyz to join the fee distribution as above.	https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=k5B2GetUdynOYKabXIRmVw
12	If I don't claim rewards, will the reward keep accumulating?	The reward will be accumulated for 20 weeks. From the 21st week, you will no longer be able to get the first week of reward.
13	Why can't I find my $DB reward in my wallet?	The DB token reward will automatically lock into your veDB NFT with the same locking duration.
14	Where can I find my $dUSDC reward?	You can find it in your wallet or check the balance of $USDC at Lending page or Portfolio page.
15	What is $dUSDC?	$dUSDC is tokenized deposit position for $USDC on Iron Bank.
16	Where can I use $dUSDC?	$dUSDC is tokenized deposit position for $USDC on Iron Bank. Holding $dUSDC can keep getting supply APY of $USDC on Iron Bank. Or you can use $dUSDC to withdraw $USDC
17	What is an dToken?	$dTokens are tokenized deposit positions for the assets you supply on Dragon Bank. It acts as the key to withdraw your supplied assets. Please note that if you have transferred the dToken to another wallet, then the new wallet will have rights to the supplied position.

Frequently Asked Questions

Answer

Reference Anns

What is veDB?

veDB acts as the value accrual token for Dragon Bank and is a modified version of the veCRV token model with elements of Andre Cronje’s ve(3,3) model for Solidly. 25% of Dragon Bank protocol fees will be shared regularly with veDB holders by weekly. As with veCRV, the amount of veDB a user receives is dependent on how long the underlying DB tokens are locked, up to a maximum of 4 year.

https://twitter.com/ibdotxyz/status/1514551493981966340?s=20&t=k5B2GetUdynOYKabXIRmVw

What is the key differences between veDB and veCRV?

One wallet can have multiple time locks as a NFT- The veDB time lock / NFT is transferable

How can I lock $DB for veDB?

To lock DB tokens for veDB:- Go to https://app.dragonbank.xyz/vedb- Click “Create Lock”- Click “Approve” and confirm the tx in wallet- Decide DB token amount and duration(from 1week to 4 years) to stake- Click “Stake” and confirm the tx in wallet

Is the veDB transferable?

The veDB time lock / NFT is transferable

Which chain does veDB exist?

veDB is deployed on Fantom Opera network and migrated to Optimism from Nov 3rd 2022.

Migration from Fantom to Optimism: https://twitter.com/ibdotxyz/status/1580485970205417472?s=20&t=BzLEcetE4n03S1h8ACJxzQ

Can I update the locking duration or change the $DB amount I've locked into veDB?

Yes, you can increase the locking duration and lock more DB token to the veDB NFT through the 'Manage' button here. Once the veDB NFT is created, decreasing the locking duration and reducing the DB token amount is not allowed.

Can I hold several veDB NFTs in one wallet?

Yes, you can create different lock at https://app.dragonbank.org/vedb

How does the weekly protocol fee distribution work?

25% of Dragon Bank's protocol fees will be distributed & claimable every Thursday for the fees earned in the previous week. To be eligible for a weekly emission, the user must hold veDB by Wednesday 23:59 UTC for the week prior.

Protocol fees are distributed in $dUSDC, tokenized deposit position for $USDC on Dragon Bank Optimism.

Example: Lock for veDB by Apr 20 23:59pm UTC and 25% of the Dragon Bank protocol fees earned between Apr 21-27 will be claimable on Apr 28 in $dUSDC.

https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=k5B2GetUdynOYKabXIRmVw

Where can I claim the rewards?

You can check the rewards and claim rewards at https://app.dragonbank.xyz/vedb

How do I know about the reward APR?

You can check the reward APR at https://app.dragonbank.xyz/vedb. The reward APR is based on 4-year lock of veDB and previous week's rewards.

For the veDB holders who locked before Apr 20, 2022, what kind of the fee distribution they can get?

In addition to the weekly fee distribution, veDB holders who locked before Apr 20, 2022 UTC will also be able to claim the following tokens, starting Apr 28, 2022: - veDB distribution: 2.02M veDB over 52 weeks, - Protocol Earned SOLID: ~133.7K $SOLID over 4 weeks, - Protocol fee(Feb 24~Apr 20): ~269K dUSDC over 4weeks. *For the veDB holders who locked after Apr 20 2022 UTC, the reward will begin to be calculated once the lock/claim is processed and the distribution takes place on every Thursday as the same way as weekly protocol fee distribution. Check the announcement & numbers: https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=0y-3vMts271aiJjQGq 40nw ***The iceCREAM and Long-term CREAM stakers prior to the snapshot block 14319512 can claim their veDB at app.dragonbank.xyz to join the fee distribution as above.

https://twitter.com/ibdotxyz/status/1516719410097967105?s=20&t=k5B2GetUdynOYKabXIRmVw

If I don't claim rewards, will the reward keep accumulating?

The reward will be accumulated for 20 weeks. From the 21st week, you will no longer be able to get the first week of reward.

Why can't I find my $DB reward in my wallet?

The DB token reward will automatically lock into your veDB NFT with the same locking duration.

Where can I find my $dUSDC reward?

You can find it in your wallet or check the balance of $USDC at Lending page or Portfolio page.

What is $dUSDC?

$dUSDC is tokenized deposit position for $USDC on Iron Bank.

Where can I use $dUSDC?

$dUSDC is tokenized deposit position for $USDC on Iron Bank. Holding $dUSDC can keep getting supply APY of $USDC on Iron Bank. Or you can use $dUSDC to withdraw $USDC

What is an dToken?

$dTokens are tokenized deposit positions for the assets you supply on Dragon Bank. It acts as the key to withdraw your supplied assets. Please note that if you have transferred the dToken to another wallet, then the new wallet will have rights to the supplied position.

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Last updated 9 months ago