AnyStake TestNet (Phase 2)
Today, we have two words to say: USER INTERFACE.
Our legendary developer, Quant, has deployed Anystake’s TestNet UI, putting us in TestNet Phase 2.
“How long ’til Mainnet, sir ?”
Let’s answer this question 1st, with a simple reminder: We are audited by Hacken. Security is the zero-compromise, elephant in the room for crypto. This one can hurt you, and really badly. UI is upgradeable, but contracts are not (in general) or exploited before a change to upgrade is possible.
So here’s the answer: Once we get the Audit back, we fix a couple things (hopefully not a lot), we provide you with the transparency report, and we should be good to move to Mainnet. This will roll out much like the original DFT Staking Pools for those around for that long! Until then, let’s have fun with the UI.
Anystake, and beyond
We all know that Anystake’s most important feature is the ability to manage a large amount of farms using limited gas costs: While traditional farms requires a “massUpdate()” function that increments the gas costs with the number of pools, DeFiat’s approach alleviates this costs with a more refined pool reward management.
But there’s more than just that.
Enters… the mighty REGULATOR.
The regulator is an important part of DeFiat’s ecosystem and makes full leverage of the dual token solution (DFT + DFTP).
Let’s dig into that… (ya dig?).
Anystake Structure and Fees, and the vault.
In this model, the 2% fees taken from DFT trading are sent to the Vault.
The Vault is a separated, more secure contract whose role is to dispatch trading rewards and distribute the initial DFT rewards (a lot!) to the AnyStake and Regulator contracts.
70% of rewards are sent to AnyStake (1.4% of total TX fee)
30% of rewards are sent to Regulator (0.6% of total TX fee)
AnyStake redistributes these rewards to stakers, using pools with specific weights. The DFT/ETH LP and DFTPv2/ETH LP AnyStake pools will receive a 5x reward weighting bonus.
The Regulator is another farm where you stake DFTP. The Regulator divides up the fees it receives in the following way.
70% of rewards are distributed to stakers (.42% of total TX fee)
30% of rewards are stacked and used for DFTPv2 buybacks
DFT and DFTP have a bond for life now: 1 to 10.
1 DFT should always be 10 DFTP, at least as close as possible.
The Regulator will constantly monitor for these prices changes and will perform DFT or DFTPv2 buybacks on Uniswap. If we buyback DFT, it goes back into the Vault as rewards. If we buyback DFTPv2, we burn it.
What does it means for DFT and DFTP?
That is THE question: It means arbitrage opportunities, hence more volume, hence more rewards… hence better farming rewards for DFT and DFTP stakers.
Classic farms can enter in a vicious circle of diminishing returns: Less rewards mean people trade less, or exit projects, meaning less rewards…
The REGULTOR solves that and creates new trading opportunities.
But the Medium article title says “TESTNET” and you spoke about everything else… (crying emoji)
Here is the link to allow you to finally test the solution: https://testnet.defiat.net
Make sure you connect to the Rinkeby network on the TestNet site. Some functionalities (such as token prices and APR) will be added for Mainnet launch.