As we cross a landmark epoch, here’s a quick overview of the protocol and an update of what’s coming next.
WhaleStreet is on a roll. We are now 100 epochs into this fascinating DeFi-NFT journey and if anything, we believe the protocol is close to self-sustaining. Here’s a quick look at what the protocol looks like right now -
- $hrimp Farming began Dec 6, 2020
- 1% of $hrimp distributed to early liquidity providers.
- Current Epoch: 100
- $hrimp current supply - 36,000,000
- ≈35k : early providers
- ≈40k : post-launch
- ≈100k : team
- $hrimp rewards withdrawn - ≈7.5m
As you know, WhaleStreet right now is a system of three smart contracts, and a staking algorithm which enables the $hrimp farming.
The 3 Smart Contracts
- Pacemaker.sol (Heart) - A heart beat every 8 hours (epoch)
- BasePool.sol (Skeleton) - Core Farming Logic
- UNIV2SHRIMPPool.sol (Skin) - User-facing contract
Rewards per second depend on
- Stake percentage - decreases with time, as more users stake into the pool.
- Stake duration - rewards calculated every second
- System updates rewards / sec for a series whenever a Stake, Unstake, or Claim happens within that series.
- System will need to be updated (manually from the UI, via a claim operation) just before a series ends, otherwise it will take into account next series rewards / sec for current series payout. The team will take care of this update.
Audited with 100% Coverage
When it comes to Smart Contracts, there are no half measures with Lendroid. Our long-time collaborators at Quantstamp submitted a complete report, which you can access at this link.
In the audit, we had 100% branch coverage, so no loose ends. We acknowledged and resolved eight out of nine issues at the smart contract level and the ninth issue was something we could handle via the UI instead of via the smart contract.
As per usual, our audit process helped us improve aspects of the protocol. In this case, the staking algorithm.
In other words, the system is working, and you, our community, have been keeping the protocol and token moving.
It was a close-knit but surreal experience. We live streamed a presentation to the community, walking through the WhaleStreet journey so far. We covered some of the updates shared in this blog, and a lot more about what we have planned for the future of WhaleStreet over the next few weeks.
You can access the complete broadcast at this link. Please feel free to write in to us with your questions, comments and suggestions. We would be happy to take them up in the next community broadcast.
On January 13, we intend to make another broadcast, with some important protocol level announcements. Significantly, these will involve some enhancements in the DeFi Keys / DeFi Collectibles catalogue. We hope to onboard artists in the generative art space to craft these NFTs - making them truly collectible even before they are deployed on the protocol.
The other announcement is, again, at a protocol level. It adds to what WhaleStreet is designed to do. Apart from the Whale Swaps, scheduled for April 2021, we are launching another use case more immediately, by the end of January. Stay tuned and we’ll share more.
Do join us for the next team broadcast. Follow the WhaleStreet Twitter, and Lendroid’s Twitter and Telegram channels.
Here’s to the next 100 epochs!