Vampire Protocol is the first of its kind in DeFi, an elastic supply stablecoin token VAMP that can perform a positive rebase at any price. Because the rebase is determined not only by movements in price but also by volume. The team behind the project ETHTARI plans to gamify the protocol, adding in elements such as an enemy token and NFT farming, to create an RPG DeFi themed experience.

What is Vampire Protocol?

The Vamp token can issue a rebase, much like Ampleforth. However, the team has identified that a major issue with elastic supply protocols is the size of the adjustment. For example, if the price of AMPL is too low, the price can enter a spiral of death. Before determining if the protocol should add or remove more tokens, VAMP will check the price and average volume. As a result, you have an elastic supply with more subtle increases or decreases. To summarise, the true innovation here is that VAMP can rebase positively, even when the price is going down.

What is vampire protocol? farming DeFi platform with gamification elastic supply stablecoin

Note the target price for VAMP is between $0.96 – $1.06, as long term it aims to stay stable.

From The Same Flavor:

Gamification… the team also gamified the whole experience of issuing a rebase through a second token: vMANA. Users can farm vMANA by supplying VAMP liquidity on Uniswap and staking LP tokens.

Two token ecosystem with vampire protocol

By holding vMANA you have higher vitality points and can survive rebases better. Meaning it will decrease a negative rebase and increase a positive rebase by a bonus.

  • As you may have guessed ETHTARI has plans to integrate additional blockchain-based minigames into the protocol. It is expected to come in the form of NFT farming, where users can farm unique Vampire themed collectibles, to be used in a card game.

The enemy token… Excitingly there is also an unknown third token which users will farm by providing VAMP/vMANA liquidity on Uniswap. The team mentions this token is an enemy and will have a different type of rebasing mechanism. Surely it has to be Brother Grimm coming to hunt VAMP?