Treasury gained around 13kUSD mainly from providing liquidity on VVS in the VVS-$VERSA Pool. Another source of return was our partnership with Single Finance where we have deployed 81kUSD to their market neutral strategy in USDC-SINGLE, and 316kUSD in CRO deposits. 

Dev Fund had an outflow of 30kUSD which was team bonuses in celebration of all the hard work put into VersaGames heading into our IGO.

23 Apr 2022 Update

IGO at VVS raised 2mUSD, 1mUSD in CRO and 1mUSD in VVS.
Treasury was also prefunded with 9k USDC and 23mio VERSA tokens with IGO price at 0.1USD.
From the raised amount 500kUSD was sent to Dev Fund.

13 Apr 2022 Update

CRO have gone down by 31% since our IGO and similar with VVS. Luckily we converted most of our CRO to stables as our mandate is GameFi and aim for a more stable token backed by a robust and growing treasury. For VVS we have continued to follow our upon agreed divestment schedule of 100kUSD per week.

Sent 100kUSD for our private seed allocation in Path of Survival.

Dev Fund payed 27kUSD in salaries.

4 May  2022 Update

Both CRO and VVS is down 60% since our IGO and markets in general have shown weakness which got a major shock by UST depeg and Luna collapse. However, we have weathered the storm quite well since we early swapped all our CRO to USDC and continued to divest VVS according to schedule which currently only accounts for 104kUSD. 

Treasury also bought NFTs for 15kusd for the xVERSA Raffle.

Dev Fund outflow of 33kUSD which mainly consists of wages. Current team of 16 has a running cost of around 40kusd a month.

29 May 2022 Update

As our VVS Farm/Mine is ending we stopped providing liquidity to VVS-VERSA, instead we converted all VVS to USDC and have made VERSA-USDC our main liquidity pool which currently sits at 2.2mUSD in depth. This also means VERSA emissions is greatly reduced with only source being from VERSA stakers. More than 19m VERSA out of 24m circulating is currently being staked which is amazing.

11 June 2022 Update

Concluded our 2nd private round, this time in D.G.Pals where we invested 100kusd.

We have deployed around 780 kUSD to Ferro Protocol, in their 3FER stable pool, earning an attractive yield above 60% APR.


22 June 2022 Update

Ferro Protocol produced very nice yields for almost 2months. However, today MMF launched on Polygon which presents an great yield opportunity.

As we are familiar with the MMF team and verified that the Polygon contracts are almost identical to the Cronos contracts (which are very close to PancakeSwap) and has been audited, we felt comfortable in providing liquidity in MATIC-USDC earning above 100% APR. As we don't want to take directional risk we supplied USDC into AAVE on Polygon and borrowed the MATIC which we then could use to provide liquidity on MMF (Polygon) keeping us market neutral and earning about 100% APR on approx. 572 kUSD.

13 Aug 2022 Update

Treasury has been making a nice yield and buybacks from that yield has led to positive price impact for $VERSA. In the past month the treasury has made more than the overall cost of running VersaGames.

As we also partnered with MMF and open a farm we have moved the majority of our liquidity over to MMF. $VERSA holders can currently make up to 100% APY by lending to Single Finance or provide $VERSA and borrow USDC to leverage yield farm and earn roughly 140% APR.

27 Aug 2022 Update

Yields came lower for a while but with VVS implementing their boost system with help of xVVS and Miner Moles. We are again able to earn above our running costs.

24 Sep 2022 Update

Since last update we have made roughly 90kusd in yield farming which has more than covered our costs. However, due to the uncertainty in the markets with FTX unfolding, we have decided to fully derisk. Closed all our farming positions and only holding USDC on Polygon. Currently we have over 1.2mio in stables and invested 200k in two game projects. 

10 Nov 2022 Update

As still there is uncertainties in the market we are holding onto our stables. Next week we are kicking off our first LaaS and expect many more to line up.

25 Nov 2022 Update

We have started deploying our treasury again as APE staking together with gTrade hedging gave too good of an opportunity and avoids CEX risk. Currently we have roughly 455kUSD of ape staking earning (140% in yield) and cost of hedge is currently only 25%, giving a net APR of 115% on 455kUSD.

Our first LaaS got another pushback due to market conditions and that our partnered projects wants to align the marketing and LaaS program with a few other launches that is happening in January.

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