Vulcan Forged is introducing the Vulcan City Decentralized Bank. This is a single-gamified staking solution where users can deposit $LAVA to earn tokens and other rewards. Meanwhile, this institution was not always what it is currently. Like everything within the VulcanVerse, this establishment also has its lore.
🔥The First Fantasy Metaverse Bank: Today!🔥
Today we release the first in-game fantasy #defi bank in @VulcanVerse.
Walk into a bank and stake your tokens with the Goblin Governor of Vulcan City.
Economies in virtual worlds: The #Metaverse.$PYRhttps://t.co/w3QecMAMFe
— Vulcan Forged (@VulcanForged) October 7, 2022
Robafella started out as a Kobaloi thief in Boreas. However, he was a very smart fellow and did not spend his fortune on wine, food, Kobalettas or other frivolities like most criminals do. Instead, he launched a lending business that offered loans to people who paid back with interest. In no time, his business grew, and he expanded into Vulcan City.
However, Robafella soon realized that he needed to establish a more reputable venture that would not be associated with anything sinister. In this regard, he got insurance from the temple of Poseidon and rebranded his outfit to Vulcan City Decentralized Bank – a PLC. You will see the goblin governor ready to assist you when you enter the building.
Services of the Vulcan City Decentralized Bank
The Vulcan City Decentralized Bank offers a wide range of services and solutions. However, you must own a limited Vulcan $LAVA Ledger NFT to use them. You can activate this asset on My forge through the LAVA Bank Page. This segment also holds information on how to grow your earnings within VulcanVerse.
As mentioned, this financial institution is a staking medium. With the LAVA Bank section, you can access the available slots left. From this dashboard, you can also track your profits. In addition, users can increase their deposits or secure more deposit options.
The staking system uses cold LAVA, which you can check via the My Forge page. This off-chain token can be traded for $LAVA in a 1:1 ratio. It is different from $LAVA token that is powered by the Polygon blockchain.
Before depositing in a staking pool, ensure that you have enough cold LAVA. You can earn them from playing any game in Vulcan forged or trade $LAVA for it. If you meet the requirements mentioned above, you can choose any of these programs:
- Flexible Plan (The Thesmophoria) – 5% APY and no withdrawal fee.
- 1 Month Lock Plan (The Pandia) – 8% and 25% withdrawal fee
- 3 Months Lock Plan (The Heracleia) – 14% APY and 25% withdrawal fee.