To recap, this upgrade to V3 implements a new burn mechanism, adds staking, and decentralizes the liquidity.
Decentralized liquidity:
- The migration process includes a step that automatically transfers the new liquidity tokens to the V3 contract. The V3 contract will be verified as soon as possible after deployment, so anyone can check that these tokens cannot be accessed in any way. They are stuck there for eternity.
Smooth Burn:
- We call it "smooth" burn, because the burn amount now factors in how long each token has been sitting in the liquidity pool. This allows for real-time burn tracking as we can predict the burn amount at any point in time. Ask Mr F for more details on this mechanism. And yes, the burn rate is now 3%.
Burn Reward:
- You will now be rewarded for calling the burnPool() function. The website will show much reward is available, and there will be a button to call the function and claim the reward. Amount rewarded is 10% of the number of burned tokens.
Staking:
- Staking and unstaking both cost a 10% fee. The fee is distributed proportionally to all other stakers, determined by the ratio of your staked tokens to the total number of staked tokens. Get in early to collect more of the fees from those joining after you.
Initial Staking Phase:
- V3 launches with an "initial staking phase", where you are able to stake tokens without paying the 10% fee. This phase will last 5 days, and you must wait until the period is over to unstake. Why would you want to join the initial staking phase early? Because we are airdropping 100,000 UBOMB over the course of this phase to all participants (that’s over 1% of the entire supply!). Airdrop is distributed proportionally in the same way as a regular staking fee. The time and amount of each airdrop will be a secret, but the entire 100,000 tokens will be distributed before the period ends.