Platform
How everything works in unity
Boardroom
Epoch duration: 6 hours Deposits / Withdrawal of STRAW into the Boardroom will lock STRAW for 4 epochs (24hrs) and FUDGE rewards for 2 epochs (12hrs).
The above is the same for FUDGE rewards claiming, this will lock staked STRAW for 4 epochs (24hrs) and the next FUDGE rewards can only be claimed after 2 epochs (12hrs).
Distribution of FUDGE During Expansion:
80% as Reward for the Boardroom go to STRAW stakers 15% goes to DAO fund 5% goes to DEV fund Rate of Expansion: The rate at which the boardroom expands and mints new FUDGE tokens is set by a dynamic set of tiers
Tier 1: 0 to 500000 FUDGE --> 2%
Tier 2: 500000 to 1000000 FUDGE --> 1.75%
Tier 3: 1000000 to 1500000 FUDGE --> 1.5%
Tier 4: 1500000 to 2000000 FUDGE --> 1.25%
Tier 5: 2000000 to 5000000 FUDGE --> 1%
Tier 6: 5000000 to 10000000 FUDGE --> 0.75%
Tier 7: 10000000 to 20000000 FUDGE --> 0.5%
Tier 8: 20000000 to 50000000 FUDGE --> 0.5%
Tier 9: 50000000 and greater FUDGE --> 0.25%
Boardroom 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 STRAW staked (USD value).
APR fluctuates from time to time and is dependent on: 1. Price of FUDGE 2. Price of STRAW 3. Total value locked in the Boardroom
Boardroom During Debt Phase
Boardroom will not mint any FUDGE while TWAP < 1.01.
The boardroom stops minting any new FUDGE tokens in order to stop expansion.
Debt phase takes place after the protocol has regained pegged and transitioned from a contraction phase back to expansion phase. The debt paid enables for the redemption of bonds. Therefore, 50% of Expansion during Debt Phase is allocated within the contract to prepare for the CARAML Redemption. This amount is still reserved whether or not CARAML holders are redeeming bonds or not.
Once FUDGE in the contract is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
Farms
The Farms are responsible for the distribution of the share token (STRAW) as well as promoting the growth of the overall liquidity to promote stability and reduce price volatility. The share token reward pools will be available for 12 months. There are two primary pools that will have the greatest allocation of shares to distribute and will be available during the full 12 month duration:
FUDGE-DAI LP Pool
STRAW- DAI LP Pool
Please note that the exact allocations are dynamic and may be subjected to change according to the teams best discretion.
Bonds
CARAML (bond tokens) are available for purchase when FUDGE falls below the 1 DAI peg. If FUDGE TWAP is between 1.00 and 1.01, neither CARAML nor FUDGE will be issued.
e.g. if FUDGE's TWAP < 1, exchange FUDGE for CARAML will be in a 1:1 ratio.
CARAML (bond tokens) are available for redemption when FUDGE goes above the 1 DAI peg.
To encourage redemption of CARAML for FUDGE when FUDGE TWAP > 1.1 and incentivize users to redeem at a higher price, CARAML redemption will be more profitable with a higher FUDGE TWAP value, of which CARAML to FUDGE ratio will be 1:R, where R can be calculated in the formula as shown below:
Where coeff = 0.7
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