Stake FRANK to earn Multiple tokens inflation when the network expands.
We have implemented two significant improvements to the original algorithmic stablecoin, including:
- Require to deposit collaterals (FTM) to claim tokens from Boardroom
- Multi-rewards for Boardroom (multiple pegged tokens) Users will stake $FRANK in the Boardroom to earn multiple rewards. Every time users claim rewards from Boardroom; there are two options available for claiming. Users must pay an amount of $FTM according to 25% rewarded tokens. Or you can receive a 20% discount (according to 20% rewarded tokens) by using $DARK as the payment token. To start, we chose to launch three initial pegged tokens: DARKO (FTM), DBOO (BOO), and DUAH (pegged to Ukrainian Hryvnia), which are popular among the strong community on the Fantom Opera chain. More pegged tokens in the future under voting or through partnership.
- A 1% transaction fee will be applied for every transaction of $DUAH, which is forwarded to the Red Cross to support Ukrainian affected by the war.
When $DARKO, $DBOO, and $DUAH are under the peg, instead of using the Bond mechanism, 15% of token transfer will be burnt immediately as tax to reduce the token supply and help to push the token price up to the peg.
- 1.Epoch duration: 8 hours
- 2.There is a 2% tax fee per stake. The unstake fee is 0% during expansion, and 2% during the contraction period. These fees will be used to buy back DARKO.
- 3.Deposit / Withdrawal of FRANK into/from Boardroom will lock FRANK for 6 epochs and DARKO rewards for 3 epochs.
- 4.DARKO rewards claim will lock staked FRANK for 6 epochs and the next DARKO rewards can only be claimed 3 epochs later.
- 5.Distribution of DARKO during Expansion: 45% as Reward for Boardroom FRANK Stakers 40% goes to DAO fund 10% goes to Insurance 5% goes to DEV fund.
- 6.Epoch Expansion: The first 21 epochs will be the bootstrap phase with a rate of 4.5% no matter what DARKO's price is. After the bootstrap phase, the current expansion cap is based on DarkO supply, if there are bonds to be redeemed, 65% of minted DARKO goes to treasury until its sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate.
Expansion rate based on DARKO supply:
- 500K or less: 3.5% Cir.Supply
- 1M or less: 3% Cir.Supply
- After 1M:
Epoch number refers to the current epoch in which DarkOpera protocol is in.
- 1.Next Seigniorage indicates a countdown timer to the next epoch. (Each epoch duration lasts for 8 hours)
- 2.APR refers to the simple returns in USD value relative to the amount of FRANK staked. (USD value)
The boardroom will not mint any DARKO, DBOO, DUAH (NO REWARDS ON BOARDROOM) while TWAP < 1 FTM
Rewards can't be claimed during contraction or upcoming contraction phase