1. Overview
This platform is designed to allow users to deposit funds into a vault, allowing their yield to be sent to the 🔥SHI Burn Bank🔥 while maintaining complete control over their deposit. The yield that accrues in the vault is owned by an immutable smart contract, meaning no one can steal or influence the destination of the yield produced by your deposit.
It should be noted that because PoolTogether contracts function as a no-loss lottery winnings platform, by using this platform you are also eligible to win prizes from the Ethereum Prize Pool🎉. However because 90% of the yield is being sent to the 🔥SHI Burn Bank🔥 your chance of winning is reduced to 1/10th of what it would have been (if 100% of yield was sent to the prize pool).
2. Depositing Into Vaults
When depositing, there are a risks to be aware of.
Strategy Risk: The yield generated by your deposit comes from the underlying strategy used by the vault. These strategies can range from providing liquidity to pools, lending, and more. You can find information about the specific strategy used for each asset in the link provided in the top right corner of the deposit and withdrawal box.
Smart Contract Risk: The vault you are depositing into is a PoolTogether vault launched via the Cabana Factory. The yield generation protocols also use smart contracts and are subject to similar risk. The contracts handling user deposits have all undergone official audits. You can view the audits on the websites of the respective protocols.
3. Donating Yield
As yield accumulates in the vault, the amount available will be displayed via the Donate button. As long as the amount is more than $0 a user can harvest the yield and send it to the 🔥SHI Burn Bank🔥 by clicking the Donate button and paying gas. When activated, the contract claims the yield, swaps for ETH, and sends it to the 🔥SHI Burn Bank🔥 using the give() function.
