Launch Control
Key protocol metrics will be carefully controlled during our launch
In order to secure a harmonious launch that benefits users fairly and equally, we have opted to control several key protocol metrics during the initial phases of launching Zest.
Zest will either enter an expansion or contraction phase based upon the TWAP of FTMz. If FTMz maintains peg > 1.005 FTM for an hour, the maximum supply will increase. Otherwise, in a contraction phase, the supply will remain the same.
Although the protocol determines and calculates the expansion rate (if any), the smart-contract is called by the development team to start the next epoch by an automated task on-chain.
FTMz will have a maximum supply that can be minted according to the stability of the peg. This prevents a single user receiving the lion's share of liquidity rewards from the farm, and subsequently dumping their rewards.
The initial maximum supply of FTMz will be 100,000. Every 6 hours a new epoch begins, this is when the protocol will determine if it is entering an expansion phase and what the expansion percent should be. Each epoch is triggered by an automated task that runs on-chain.
Similar to Tomb Finance, for every epoch, the maximum supply of FTMz will increase so users can mint more FTMz (depending if the TWAP is > 1.005)
For example:
Current total supply of FTMz: 100,000 - FTMz 6-hour TWAP: 1 FTMz = 1.05: FTMz will be allowed to expand 25% -> Max Supply = 125,000 -> for the next 3 hours, from the start of the epoch to the middle of the epoch, the max supply will slowly grow from 100,000 to 125,000 -> this is to prevent big wallets or bots will just mint the whole chunk of expanded supply right after the epoch starts.
Note that the minimum collateral ratio is 90%
Last modified 9mo ago