How to use V3 vaults

Vault Approval Flow

To use the V3 vaults, you need to acquire tokens corresponding to the vaults pair (you would need at least one of the pair to deposit) and then approve it for use by the vault

Vault UI Components

1. APY

The estimated annualized return of the vault based on the rolling 24H performance of swap fees and farming rewards

2. Range

The current active price range of the vault’s liquidity position

To change the displayed price quote, for example from BNB per USDT to USDT per BNB click on the double arrow icon near the bottom

Price Range Invert

3. Token Price

The value of 1 unit of the vault token measured in the pair quote token and in USD. if in profit, the value should be increasing and vice versa if in loss, hence the price reflects the vault performance

Token Prices

Vault token price always start at 1 unit of the quote token during initialization, thus you can track the vault performance since inception from the current price deviation from 1.0

You can click on the chart icon to the right of the prices to bring a Chart popup that will display historical token price for that vault

Vault Token Price Chart

Depositing

If in V2 vaults you deposit LP tokens, in V3 you deposit the tokens belonging to the pool pair in any ratio you wish and Hippo will automatically convert it to the correct ratio and add it to the current active position

Deposit Modal

After depositing, the vault will mint you vault tokens and you can then view your balance along with the composition of the underlying tokens.

Vault with balance

!IMPORTANT! The minted tokens which have a “hhPCSLP” token symbol, serve as your vault deposit receipt, transferring it to another address will also transfer your claim of the vault position to that address.

In V3 vaults, the composition of the underlying tokens will be dynamic as price change and the strategy rebalance the active range to follow market movement, however, under ideal condition your investment value measured against the quote token(the 2nd token in the pair) which in this example is BNB, should steadily increase over time. Though the increase in value will not be a straight line as in period of market turbulence small drawdowns are expected

Withdrawing

To withdraw, use the minus button, and the withdraw modal will pop up

Withdraw Modal

Type in the amount of token you wish to withdraw, and it’ll burn the vault token and gives you the underlying tokens according to the displayed composition

Details Section

Vault Token Composition

To view the overall composition of the underlying tokens, click on details near the bottom

Details Section

Get Tokens

To get the tokens required to deposit in the vault click on the the GET link below Total Value Locked. The link will take you into the Zap page that will allow you to swap tokens

Zap Menu

View Contract

To view the vault contract on bscscan, click on the view contract link. Every Hippo v3 contract is verified with the source course published

See Pair Info

To view the analytics (volume, tvl, price history) of the token pair in the pool, click on the link and it will bring you to the Pancakeswap analytics page for that pool