What is vSPY Token by ItoVault?

Join DeFi boom with ItoVault. Learn how to trade its vSPY tokens on Tokpie exchange.

itovault token on Tokpie

The boom of decentralized finance (DeFi) continues. Today, we would like to introduce the ItoVault project and its vSPY token. Like Maker DAO, Itovault allows users to issue tokenized assets on the smart contract vault. These tokenized assets mirror classic market’ indexes or whatever you want to hedge and trade.

What is vSPY token V1_0?

The vSPY Token V_1_0_0 (vSPY V1_0) is a corresponding Digital Asset. The V1 abbreviation means that Itovault will issue V2 to reflect other popular indexes, manage governance, and so on. Anyone can mint vSPY token by sending collateral into Itovault’s smart contract (vault). Also, check the liquidity pool size for vSPY V1_0 on Uniwap.
Use case. Let’s imagine a user wants to open a short position against the SPY index. Then he locks ETH collateral in the vault to mint vSPY tokens that correspond to the SPY index. After such minting, a user sells vSPY in the market for ETH and waits for the SPY index down. When S&P touches the bottom, the user buys back vSPY for a lower price to make a profit. Then he returns vSPY to the vault to unlock his collateral. That’s how DeFi works on smart contracts.

How to buy vSPY token?

To purchase vSPY V1_0 tokens for USDT, ETH, or WBTC do three simple steps:

  1. Fund your account with USDT, ETH, or WBTC. Note that you can purchase ETH and USDT with a bank card in a few minutes.
  2. Open vSPY/USDT, vSPY/ETH, or vSPY/WBTC order book, and place your trade order to buy.
    Use this instruction if you don’t know how to place a trade order.
  3. Withdraw vSPY V1_0 tokens to your personal Ethereum wallet or hold them on the account.

How to sell vSPY tokens?

To sell vSPY V1_0 tokens for USDT, ETH, or WBTC, follow three steps:

  1. Deposit vSPY V1_0 tokens on your account.
  2. Open vSPY/USDT, vSPY/ETH, or vSPY/WBTC order book, and place your trade order to sell.
    Read the instruction if you don’t know how to place a trade order.
  3. Withdraw USDT, ETH, or WBTC to your personal Ethereum wallet or hold them on your account.

How to deposit vSPY V1_0 tokens?

To deposit vSPY V1_0 tokens on your Tokpie account follow this guide. Make sure that you are going to deposit vSPY V1_0 tokens that relate to the smart contract address: 0x3e1e15AFD5d50b090aDcC88160dD84a48EA1B80E. If you deposit the wrong tokens, Tokpie could not identify your transfer.

Note: Tokpie doesn’t charge any fees for depositing.

How to withdraw vSPY V1_0 tokens?

To withdraw vSPY V1_0 tokens from your Tokpie account, use this instruction. You must have an eth compatible wallet address to be able to withdraw tokens. Also, Check the vSPY token withdrawal commission.

Disclaimer

Please be aware that Tokpie charges a fee for the listing. Tokpie does not give any investment, legal, tax, financial advice, or warranty of token price performance or successful fundraising.

Useful links

For any questions or cooperation, you can contact Tokpie at https://t.me/tokpie.