What Is DShares(DSHARE)?
An algorithmic stablecoin on the Fantom Opera blockchain, pegged to the price of 1 TOMB. Degen utilizes multiple bonding mechanisms at the DAO as well as seigniorage. Stake your DEGEN-TOMB LP in the Graveyard to earn DSHARE rewards. Then stake your earned DSHARE in the Mortuary to maximize profits!
Do your own research before investing. Investing is risky and may result in monetary loss. Degen is beta software and may contain bugs. By using degen, you agree that the Degen team is not responsible for any financial losses from investing in Degen.
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The main innovation is a method that they found out in order to be able to boost any pool’s APR to a multiplier of couple X (depends on how many pools are live) without hurting any other existing pool’s APR in the process. 2) TBOND Staking Pool 3) USDC Staking Pool.
DEGEN is designed to be used as a stablecoin for things such as exchange, lending, borrowing etc. The protocol’s algorithm aims to maintain DEGEN’s peg of 1:1 DEGEN:TOMB in the long run.
DSHARE – Protocol Shares
DSHARE are one of the ways to measure the value of the DEGEN Protocol and shareholder trust in its ability to maintain DEGEN close to peg. During epoch expansions the protocol mints DEGEN and distributes it proportionally to all DSHARE holders who have staked their tokens in the Mortuary.DSHARE holders have DAO voting rights on proposals to improve the protocol and future use cases within the Degen Finance ecosystem.
DSHARE has a maximum total supply of 100,001 tokens distributed as follows:
- 1.DAO Allocation: 15000 DSHARES vested linearly 150 days
- 2.Team Allocation: 5000 DSHARES vested linearly over 150 days
- 3.Rewards: 80000 DSHARES are allocated for incentivizing Liquidity Providers for 180 days
- 4.Initial mint: 1 DSHARES minted upon contract creation for initial pool
DBOND – Degen Bonds
DEGEN Bond’s (DBOND) main job is to help incentivize changes in DEGEN supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of DEGEN falls below 1:1 TOMB, DBONDs are issued and can be bought with DEGEN at the current price. Exchanging DEGEN for DBONDs burns DEGEN tokens, taking them out of circulation (deflation) and helping to get the price back up to peg.
These DBONDs can be redeemed for DEGEN when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for DEGEN when it is above peg, helping to push it back toward 1 DEGEN to 1 TOMB ratio. Contrary to early algorithmic protocols, DBONDs do not have expiration dates.
If your DEGEN is below peg exchange it for DBOND and redeem after peg is above 1.1 to receive bonus DEGENs! All holders are able to redeem their DBOND for DEGEN tokens as long as the Treasury has a positive DEGEN balance, which typically happens when the protocol is in epoch expansion periods.
Epoch duration: 6 hours Deposits / Withdrawal of DSHARE into the Boardroom will lock DSHARE for 4 epochs (24hrs) and DEGEN rewards for 2 epochs (12hrs). The above is the same for DEGEN rewards claiming, this will lock staked DSHARE for 4 epochs (24hrs) and the next DEGEN rewards can only be claimed after 2 epochs (12hrs).
Distribution of DEGEN during Expansion
80% as Reward for Mortuary DSHARE stakers 15% goes to DAO fund 5% goes to DEV fund Epoch Expansion: Current expansion cap base on DEGEN supply, if there are bonds to be redeemed, 65% of minted DEGEN goes to treasury until it’s sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate.
Mortuary UI Information
Next Epoch indicates a countdown timer to the next calculation of seigniorage. (Each epoch duration lasts for 6 hours) APR refers to the simple returns in USD value relative to the amount of DSHARE staked (USD value).Note: APR fluctuates from time to time and is dependent on certain factors such as: Price of DEGEN Price of DSHARE Amount of DSHARE staked in Mortuary,.
At the beginning of every epoch, if the time weighted average price (TWAP) of DEGEN is greater than 1.01, new DEGEN will be minted in the boardroom.The amount of new DEGEN distributed depends on the current circulating supply of DEGEN.
The first 28 epochs (7 days) after the Mortuary (boardroom) launches will have 2.5% emissions to account for continued Degen rewards during this time.Circulating Supply / Degen minted. Below 10k / 4.5%Up to 15k / 4% Up to 25k / 3.5%Up to 35k / 3% Up to 60k / 2.5%