Biweekly Report [2H June 2022]
(Disclaimer: The contents are subject to change without prior notice, and under no circumstances can it be used as evidence of legal responsibility for investment results. The information provided here does not constitute investment advice. If you have any questions, please contact the Stackswap team.)
Hello, StackSwap Community.
Here’s the first team to use the Launchpad — Group Farming feature, which the Stackswap team aimed to achieve completely permissionless.
The Welshcorgicoin.btc ($WELSH) team plans to gradually release about 1 billion tokens to the Stackswap Launchpad — Group Farming — LP Staking pool and use them to reward community users.
We have opened the Stackswap Cross-chain service, where you can exchange tokens on the external network (BTC, ETH, USDC (ERC-20)) and the internal network (STX). This update focuses on the ability to move assets between different types of networks, ultimately aiming to expand the Stacks ecosystem and improve user convenience.
We started farming support for Citycoin v2 version on Stackswap Farm v2.
> Stackswap Dashboard (at block number 60,643)
> Stacks Accelerator Verified Tokens: 9
- Stackswap (STSW)
- Stacks (STX)
- Arkadiko Token (DIKO)
- Arkadiko Stablecoin (USDA)
- Miamicoin (MIA) v1
- Miamicoin (MIA) v1
- Newyorkcity Coin (NYC) v2
- Newyorkcity Coin (NYC) v2
- Lucid Bitcoin (lBTC)
> Group Farming — use case : Welshcorgioin
The Welshcorgioin.btc ($WELSH) team, the most famous memecoin on the Stack network, will release about 10% of the total supply using Group Farming on the StackSwap platform. We are very happy that the Welshcorgioin team, working on various community activities and NFT projects on the Stack network beyond memecoin, is using the StackSwap platform.
You can see below how the Welshcorgioin team pays and works.
$WELSH LP Pool reward available on Stackswap!
We are happy to announce the launch of STSW-WELSH LP Token Staking!
( Caution: The StackSwap team only provides functions for the reward system, and detailed policies such as token reward method and reward amount are operated by the Welshcorgioin team. For more information, please contact the Welshcorgioin team. )
Welshcorgioin team is using total STSW-WELSH LP, NFT Staking.
1) Single Token : Not operated
2) STSW-WELSH Farming info.
- Reward List (reward amount per round) : 14,285,714.286 WELSH
- Number of Rounds : 70
- Current round : 2 / 70
- Blocks per Round : 500
- Operation Period : 35,000 Block
>> Start Block : #65,538
>> End Block : #100,538
3) NFT Staking Farming info.
- Reward List : 50,000,000 WELSH
- Priority : 30
- Priority Ratio : 0.3 (15,000,000 WELSH)
- Stake item : Gold Pass
- Burn item : Silver Pass
- Operation Period : 4,320 Block
>> Gold Pass Start Block : 65,538
>> Silver Pass Start Block : 66,618
>> End Block : 69,858
※ NFT Staking detailed function information
*Priority: Number on a first-come-first-served basis to participate in NFT Staking
*Priority Ratio: Ratio paid to first-come-first-served participants out of the total amount of rewards allocated for NFT Staking
Based on the above figures, the amount set in Priority Ratio among the amount allocated to first-come-first-served NFT staking participants is paid in 1/N
(Example of compensation)
Priority: 30, Priority Ratio: 0.3 days, Reward List: 50,000,000, total participation: 50
30 first-come-first-served participants will be compensated in the form of 1/30 for 30% (15,000,000) of the total amount of NFT Staking.
Assuming that the total number of NFT Staking participants is 50,
1) Priority reward: 15,000,000 / 30 = 500,000 reward
2) Residual reward: 35,000,000 / 50 = 700,000 reward
1 ~ 30 (NFT Staking) Participating users: 1) + 2) = 12,000,000 reward
31 ~ 50 (NFT Staking) Participating users: 2) = 700,000 reward
StackSwap operates a cross-chain beta version that increases the accessibility and convenience of interspecies blockchains to enable more practical integration of blockchain-based protocols and services.
External Network : BTC, ETH, USDC(ERC-20)
Internal Network : All tokens that have built a pool on Stackswap
(STX, STSW, MIA, NYC, USDA, etc.)
※ Precautions for use
1) External Network <-> Internal Network both require a minimum amount
2) When moving from Internal => External, community tokens cannot be converted if they are larger than the size of the Stackswap pool.
3) Incorrectly entered wallet address cannot be recovered
4) Exchange or recovery is not possible if the expected deposit amount and the actual deposit amount are different
> Citycoin v2 Farming Support
The Stackswap team has started supporting Farming of Citycoin v2 coin.
You can provide liquidity to the STX — NYC v2, MIA v2 pools and receive commission rewards.
About current status of LBTC
There has been the first liquidation event of LBTC vaults after an anonymous user unrelated to us calling a public function that leads to the liquidation. Everything worked as intended during the process of liquidation. LBTC is still a work in progress, and we are continuously collecting data to determine the direction of future development.
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