Simple Earn v3 - POL/GSA

The Simple Earn V3 staking program is designed to encourage a more controlled and sustainable participation in the GSA token ecosystem. Unlike the previous version, Simple Earn V3 introduces key adjustments to mitigate volatility risks and ensure a more equitable distribution of GSA tokens.

Main Features of Simple Earn V3:

  1. Adjusted Exchange Rate: In Simple Earn V3, the exchange rate has been adjusted to 1 MATIC = 1000 GSA every 48 hours. This change aims to prevent massive sell-offs and protect the token’s value by reducing the amount of tokens distributed in a short period of time. By setting a lower rate, it ensures a more controlled and sustainable issuance of GSA.

  2. Participation Requirements: To participate in Simple Earn V3, users must have at least 10 Goblins staked. This minimum requirement fosters a more solid commitment to the ecosystem, ensuring that only genuinely committed users are part of the program. It also helps to create a community more aligned with the project’s goals.

  3. GSA Token Split: Users will receive a split of GSA tokens from the pair composed of xGSA/GSA, which provides more flexibility in managing their assets within the ecosystem. This issuance model allows participants to diversify their investment strategy and better take advantage of market opportunities.

  4. Main Purpose: The primary goal of Simple Earn V3 is to continue raising Liquidity Pool for the GSA token at its official launch date. The staking structure and participation requirements are designed to ensure solid and sustainable liquidity, facilitating a stable listing and fair valuation of the token in the market.

Comparison between Simple Earn V2 and Simple Earn V3

  • Simple Earn V2:

    • Exchange Rate: Offered a higher exchange rate, with 1 MATIC = 13,000 GSA every 48 hours. This high rate could generate greater sell pressure in the short term, affecting the stability of the token’s value.

    • Participation Requirements: Required users to have at least 25 Goblins staked, which might have attracted a less committed community or users with a limited interest in the ecosystem.

    • Liquidity: Version V2 could have faced liquidity challenges at the token’s launch due to the higher number of tokens in circulation from the outset.

  • Simple Earn V3:

    • Adjusted Exchange Rate: Set at 1 MATIC = 1000 GSA every 48 hours, aiming for a more controlled and sustainable distribution of tokens.

    • Participation Requirements: Requires a minimum of 10 Goblins staked, ensuring a more solid commitment and a community more aligned with the ecosystem’s goals.

    • Liquidity: Designed to improve liquidity at the token’s launch, ensuring a stable listing and fair valuation in the market.

Contract Overview

The Simple Earn v3 contract is built using Solidity and integrates features from OpenZeppelin’s ERC20, AccessControl, ReentrancyGuard, and Multicall. It includes mechanisms for staking, claiming rewards, withdrawing, and managing the liquidity pool.

Key Features and Mechanisms

  1. Admin and Ownership:

    • ADMIN_ROLE: A role designated for administrative tasks such as managing the contract’s settings. Only users with the ADMIN_ROLE can perform certain operations like depositing and withdrawing reward tokens.

    • owner: The contract owner has the authority to manage critical aspects such as reward token withdrawals.

  2. Staking Mechanism:

    • Stake Function: Allows users to stake POL by sending it to the contract. The contract locks 20% of the staked MATIC as a liquidity pool, while the remaining 80% is available for withdraw by user.

    • lockAmount: Represents the POL that is locked for future use in the liquidity pool.

    • lastClaimTime: Tracks the time since the last reward claim, which is necessary to calculate the rewards.

    • emit: Events like Staked, Withdrawn, RewardsClaimed, RewardTokensDeposited, RewardTokensWithdrawn, and SentToOwner track key contract activities.

  3. Rewards Calculation:

    • claimRewards Function: Allows users to claim GSA tokens as rewards for their staking. The reward calculation is based on the staked POL amount and the time elapsed since the last claim. The reward per POL staked is defined by GSA_PER_MATIC tokens for every 48 hours.

    • _calculateRewards Function: Computes the rewards based on the staked amount, elapsed time since the last claim, and the GSA_PER_MATIC rate.

  4. Liquidity Management:

    • sendToPool Function: Only accessible by administrators to transfer all available locked POL in the contract to the liquidity pool wallet.

    • depositRewardTokens Function: Allows administrators to deposit reward tokens (e.g., GSA tokens) into the contract.

    • withdrawRewardTokens Function: Permits the owner to withdraw reward tokens from the contract (GSA Tokens).

  5. Views and Queries:

    • getStakeInfo Function: Returns details about the user's stake, including amount staked, locked amount, last claim time, and total GSA rewards.

    • getRewardTokenBalance: Provides the current balance of the reward token held by the contract.

    • rewardTokenDecimals: Returns the decimal places of the reward token for appropriate value representation.

Contract Usage Example

To participate in Simple Earn V3, a user would:

  1. Stake POL by sending it to the contract.

  2. The contract locks 20% of the staked POL for GSA liquidity pool.

  3. Users can claim rewards periodically based on the staked amount and time elapsed since the last claim.

  4. Administrators manage the liquidity pool and reward token deposits/withdrawals.

  5. The contract is designed to ensure sustainability, with liquidity for token trading and stability in the token’s value on token launch.

Comparison with Simple Earn V2

  • Simple Earn V2:

    • Exchange Rate: 1 MATIC = 13,000 GSA every 48 hours. This high rate caused a devaluation in the Goblins NFT stake.

    • Requirements: Required 25 Goblins in stake.

    • Liquidity Management (GSA Tokens): Less controlled, with fewer measures to ensure long-term sustainability.

  • Simple Earn V3:

    • Exchange Rate: Adjusted to 1 MATIC = 1000 GSA every 48 hours to prevent Goblin NFT Stake devaluation.

    • Requirements: Reduced requirement to 10 Goblins in stake to promote a more committed user base.

    • Liquidity Management: More controlled, with specific mechanisms for liquidity pooling and reward distribution, aiming for a more stable token ecosystem at launch.

The transition from Simple Earn V2 to Simple Earn V3 reflects an effort to adapt the staking program to a more sustainable and balanced structure, minimizing volatility risks and fostering an active and committed participation in the GSA ecosystem.

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