PSA on vHYPE
when the withdrawal queue is processed tomorrow, the vHYPE staking vault will reach the 500k minimum HYPE required to operate an HIP-3 deployment
this means that further withdrawals are paused until the stake goes back above the 500k HYPE minimum
the withdrawal pause is by design to avoid trader disruption on the markets on Ventuals that are already live, and was acknowledged by those who deposited into vHYPE via our UI (two explicit confirmation steps) and in our docs
as a reminder, the HYPE you deposit into vHYPE is always owned by you through audited smart contracts, and you earn native staking yield + Ventuals points with multipliers
however — we know this isn’t ideal for those who need immediate liquidity on their HYPE
so we are taking 2 steps to address this:
1. we are working with private LPs to increase the HYPE stake. more details to be shared on this later
2. in the meantime, there are secondary pools where you can swap vHYPE and HYPE instantly, where users are already arbing price discounts
starting this week, Ventuals and our partners will provide a backstop at a 0.85:1 vHYPE to HYPE ratio, through the main secondary liquidity pools, effectively acting as a price floor
this means if you need immediate liquidity, you will be guaranteed to be able to exit vHYPE at a max 15% discount
as the first community-owned HIP-3 stake, we expected some potential bumps in the road. thank you to all of our depositors and traders, and we promise that we’re working hard to resolve things fairly for everyone involved
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