- Epoch duration: 6 hours
- Deposits / Withdrawal of SNOTE into/from Boardroom will lock SNOTE for 6 epochs and DNOTE rewards for 3 epochs.
- DNOTE rewards claim will lock staked SNOTE for 6 epochs and the next DNOTE rewards can only be claimed 3 epochs later
- Distribution of DNOTE during Expansion100% as Reward for Boardroom SNOTE Stakers
- Epoch Expansion: Current expansion cap base on DNOTE supply, if there are bonds to be redeemed, 65% of minted DNOTE goes to treasury until its sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate
Next Seigniorage indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)
APR refers to the simple returns in USD value relative to the amount of SNOTE staked (USD value). Note: APR fluctuates from time to time and is dependent on certain factors such as:
- Price of DNOTE
- Price of SNOTE
- Amount of SNOTE staked in Boardroom (Locked Value)
Boardroom will not mint any DNOTE (NO REWARDS ON BOARDROOM) while TWAP < 1.01
Debt Phase take place on the expansion epochs that start after a contraction period where there are still BNOTEs to be redeemed.
65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the BNOTE Redemption. This amount is still reserved whether or not BNOTE holders are redeeming bonds or not.
Once DNOTE in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
Stake your LP to earn SNOTE tokens
Shares Pools (Shares Reward) available for 12 months:
- DNOTE-FTM LP: 27000 Shares
- SNOTE-FTM LP: 18000 Shares
BNOTE (bond tokens) are available for purchase when DNOTE falls below the ½ FTM peg. If DNOTE's TWAP is between 1.00 and 1.01, neither BNOTE nor DNOTE will be issued.
e.g. if DNOTE's TWAP < 1, exchange DNOTE for BNOTE will be in a 1:1 ratio.
BNOTE (bond tokens) are available for redemption when DNOTE goes above the 1 FTM peg.
To encourage redemption of BNOTE for DNOTE when DNOTE TWAP > 1.1 and incentivize users to redeem at a higher price, BNOTE redemption will be more profitable with a higher DNOTE TWAP value, of which BNOTE to DNOTE ratio will be 1:R, where R can be calculated in the formula as shown below: