Polynomial has made the difficult decision to sunset its Vault platform, a process beginning with moving all Earn Vaults into Withdrawal-Only mode on Earn Vault’s User Interface starting 25 May 2023.
This wasn't an easy decision to make. We've spent a significant amount of time contemplating it, weighing the pros and cons, and considering all the constraints we face. One of these challenges is our inability to scale the product to a place that's viable from a yield standpoint for the user. On top of that, frequent incompatible upgrades from our partners also played a role in our decision.
At this stage in our journey, we believe that our team's efforts are better directed towards a product that can be scaled more effectively, helping us in our mission to build a decentralized future.
We want to take this opportunity to express our gratitude to all 60,000+ users who have supported us by trusting us with their funds throughout the lifespan of the vaults.
We've activated the Withdrawal-Only mode, allowing users to withdraw their funds smoothly and without any fees. However, please note that for V1 vaults, the existing withdrawal process will remain unchanged.
While we are sunsetting the vaults, we still believe in the potential of structured products. We plan to delve deeper into this area with our Perps/Square Perp product, and we'll be sharing more about this in the future.
Finally, we want to assure our users that we remain committed to providing the best possible user experience. Our team and community managers are always ready to help, and you can reach out to us via Discord if you have any questions or need assistance.
- Polynomial Team
About Polynomial
Polynomial Trade is a decentralised derivative trading exchange powered by the Synthetix protocol on Optimism. The exchange allows leverage trading up to 50x with a faster and smoother UI and lower fees than other derivative exchanges.