SafeCenter is opening on SafeDollar.fi
Dear SafeDollar Community,
The moment we are all waiting for is here! SafeCenter is opening on SafeDollar.fi
Deposit SafeShare and earn inflationary rewards!
Read on and get full details below..
Safe Center opens on June 18, 2021, 17:00:00 UTC
Epoch 1 will start on June 19, 2021 08:00:00 UTC
Epoch duration: 8 hours during expansion ; 6 hours during contraction
- Each wallet can deposit a maximum of 1% SDS total supply, at the time of deposit.
- Upon deposit, the fund will be locked for 6 epochs.
- Any time the user claims rewards or deposits more funds or withdraws fully/partially, the lock counter will be reset.
- After the lock period, users can withdraw partially or fully their funds with all the rewards earned.
- During the lock period, if users need to withdraw early, users can withdraw with the conditions:
- All unclaimed rewards of the users will be burned.
- There will be a penalty fee of 5% for each remaining locked epoch.
- Partially withdrawn funds will reset the lock counter.
- Rewards can be claimed after 3 epochs after deposit.
- Each time rewards claimed, both locked and reward counter will be reset
- Users can stake a maximum of 9 epochs without any tax. If users claim rewards after 9 epochs from the counter time, there will be a 15% tax fee on total unclaimed rewards. This tax fee will be burned.
Expansion: During expansion phase
- Starting Max Expansion Rate is 2.5%
- First target is 1M total supply for SDO
- For each and every 25% increase in Total Supply of SDO after first target, the max expansion rate will be reduced by 5%.
- Total supply increase to 1.25M SDO, expansion rate will be 2.375
- 1.56M total supply, expansion rate i 2.25625%
- and so on,
- 86M total supply, the expansion rate is 0.8%
- Expansion rate is 0 during the contraction phase.
This setup is learnt and adapted from all pre-existing algo stablecoins. SafeDollar is well positioned to be the next generation of algo on Polygon.