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7. Managing the Vault
DON Vault is a function of staking DON tokens with a fixed period and receiving DON token with high yield rates according to the vesting period. You can cancel and redeem at anytime if you pick interest only vault. However, you can redeem only the principal and give up the interest.
Therefore, we recommend you to choose the vesting period and utilize it to get the maximum DON token for free.
Let's look through how to use DON Vault
First, access the DON Vault. (https://www.donkey.fund/en/vault)
Please check out the fixed interest of each products and select the product you want to deposit.
Because of the nature of Ethereum network. all DON Vaults need to be approved once in every period. Even though you finished the approval of 3 month long vault, you have to approve one more time if you want to open a 6 month long vault. We feel very sorry because it is inevitable due to the nature of Ethereum.
if you click Register button, it opens Metamask wallet. (if you use other wallets, Ethereum wallet will be opened.) Check out the transaction fee and press Confirm.
Within 3 minutes, the approval will be done. After the approval, you can select the vault.
If you select the vault, it will ask how much quantity you want to stake. The sum of the number of DON tokens in your Metamask and the number of DON tokens that have not yet been redeemed will be displayed as "My DON balance" .
If the amount of DON tokens you choose to deposit exceeds the total amount of DON tokens in your Metamask wallet, you will be charged with all DON tokens in your wallet and some of them will be withdrawn into the vault.
For example, let's say there were 200 DON token in my wallet and 1,000 DON tokens that I haven't charged yet. Then you can deposit up to 1,200 DON tokens by pressing the maximum button below. However, I choose to deposit 500 token because I want to deposit partially. Then Donkey will charge 1,000 of them in your wallet at once and only 500 of them are taken out into the vault. There will be 700 DON tokens left in the wallet.
After selecting the stake amount, read the precautions and press 'Register'. Metamask (or the wallet you use) appears again as below and asks whether you are going to approve the transaction.
It should be noted that gas fee costs quite a lot due to the nature of the Ethereum network because token claim and vault registration occur at the same time. In particular, many things happen internally because the billing function collects all the DON token profits I earned from Donkey's various supply/borrow markets at once. That's why gas costs are relatively higher than other transactions.
This is due to the high gas fee in the Ethereum network, We will try to reduce the inconvenience you experience through Ethereum Layer-2 or other network support in the future.
If you approve the transaction from your wallet, all DON token rewards you have received so far through supply and borrow from Donkey will be charged to my wallet at the same time, while the amount I choose will be withdrawn to deposit DON to the vault again.
Then, the status of the vault I chose to deposit begins to appear on [Your Vaults] at the bottom.
If you chose interest only vault, not the interest + vote vault, it is possible to terminate at any time by pressing the "Redeem" button on the screen above. If you redeem, you can get the entire principal back from the vault as if you were breaking your installment savings account. But you don't get any interest.
If you signed up the same vault several times, you cannot terminate at once because the due date is different. Therefore, you have to terminate each vault you subscribed.
On the due date, the blue "Expiration" button will be activated on the screen above. Then you can press it to claim the entire interest promised with the principal. Please approve the transaction when the wallet comes up. Then, the principal and interest will arrive in your wallet in DON token.
The Donkey team will continue to make good services.
Thank you!
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