The DUCAT Supernova distributes DUCAT tokens to those who provide liquidity on Uniswap V2. The more liquidity you provide, and for longer, the greater share of the DUCAT pool you receive.
The pool in Supernova unlocks gradually over time, and stakers receive their share over time.
The total size of Supernova pool is 10% of total supply.
1. Deposit ETH and DUCAT into Uniswap V2 Pool
2. Receive UNI-V2 LP Tokens
3. Stake those UNI-V2 LP Tokens in the Supernova
That's it! Once you've deposited staking tokens, you can check your current stake and reward amounts using the Supernova interface. You can add more staked liquidity whenever you want and there is no minimum lockup period. You receive your share of the Supernova pool when you unstake.
Uniswap contracts hold the tokens associated with the UNI-V2 LP tokens as they normally do. The Supernova contracts hold the staked UNI-V2 tokens and the DUCAT tokens for distribution (in the locked and unlocked pools). All ownership is accounted for on-chain via smart contracts.
The more you stake and the longer you stake them for relative to others, the greater share of the unlock pool you receive.
Ownership share of the unlock pool is equal to:
User_staking_token_time / Global_staking_token_time
Imagine there are two users in the system, Alice and Bob. Alice has staked 10 DUCAT for 1 day, Bob has staked 5 DUCAT for 3 days.
Alice_token_time = 10 DUCAT * 1 days = 10
Bob_token_time = 5 DUCAT * 3 days = 15
Global_staking_token_time = (Alice_token_time) + (Bob_token_time) = 25 token_days
Alice owns (10 / 25) = 40%
Bob owns (15 / 25) = 60%
The ownership percentage is over the unlocked pool. As soon as you withdraw your staked tokens, you get your share of the currently unlocked tokens, irrespective of the locked tokens still waiting to unlock.
Ownership percentages and token unlocks are continuous, meaning they're calculated block-by-block.
Yes. DUCAT supply changes are universal and affect all users proportially and equally, whether they are an end-user (EOA) wallet or a contract wallet.
This means the Supernova locked pool, Supernova unlocked pool, and Uniswap's DUCAT pool can increase or decrease in size each rebase period. Your UNI-V2 LP tokens remain static in balance, but can be converted into the correct amount of DUCAT when they are redeemed, similar to Compound CTokens.
Yes. The profit-and-loss of Uniswap tokens are unchanged by the Supernova. The Supernova contracts simply hold the UNI-V2 LP tokens for you as long as they are staked.
Near identical on-chain code of Supernova has been audited by CertiK. Outside of variable changes for duration and amount, the Solidity code has widely remained untouched for Supernova.
The code is non-upgradeable and cannot be paused or halted.