# CVI V3

CVI Platform - The previous version 2\
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In 2021 the CVI shipped v2, alongside the CVI ERC20 token, which is pegged to the CVI index. The token’s innovative design enabled it to unlock two of the four design requirements stated below, while the new CVI v3 is designed to fulfill all of the original design goals. We will revisit each design requirement and illustrate how they were addressed in v3.\
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CVI Platform - Version 3 (Live on the Arbitrum network)

The defining idea of CVI (The Crypto Volatility Index) v3 and its new features, including our new innovative liquidity vault: the Theta Vault, is to allow a sustainable and scalable source of liquidity for the CVI volatility tokens on any secondary market and decentralized exchange.

This major scalability improvement allows shipping one of the flagship products of the CVI ecosystem - the leveraged volatility tokens, which have been the early vision of the platform since its inception. In comparison with previous versions which were targeted toward early adopters, the new v3 is a complete and mature version of the ecosystem.

**Below are the 4 design pillars upon which the volatility tokens are built as implemented in CVI v2 and v3:**

<figure><img src="/files/moSt6JDkDRlCgNN2QBRN" alt=""><figcaption></figcaption></figure>

### The users funnel under the new architecture includes the following actions:&#x20;

**1. Swap to/from volatility tokens on the DEX**\
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**2. Deposit/Withdraw liquidity to/from the Theta vault**\
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**3. Mint/Burn volatility tokens**

<figure><img src="/files/tPFtFUUxK4ShLnsrPm8y" alt=""><figcaption></figcaption></figure>


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