The first mechanism delivering initial $BOND token distribution to the community will be the Yield Farming staking contract. This contract will hold 8% of the total supply and will be distributed to community members who stake DAI, USDC, & sUSD. We chose these three stable coins (DAI, USDC, sUSD) because they will serve as the initial set of yield-producing assets utilized in our first product, the SMART Yield BOND. We thought it was only fair to tailor this first opportunity to earn $BOND token for the types of users who will graduate from their humble farmer beginnings to become active protocol participants; and to do that you must first hold the assets required for SMART Yield!
After all, we know Yield Farming is all the rage these days… but above all else its true purpose is to build the foundations of an engaged community whose incentives are aligned with those of the protocol, even once the crops run dry (and well beyond).
Participants can harvest their yield at the conclusion of each epoch. Each epoch will last 1 week, and an equal number of $BOND tokens will be distributed during each epoch. The participants’ harvest will be based on the amount of stable coins they have staked relative to the total amount staked in the pool. The calculation will be time-weighted to promote true and fair pro rata harvesting. Any participant can add to the pool during the duration of an epoch and receive rewards proportional to the time they are staked, but the funds must stay staked through the end of the epoch to be able to harvest the rewards. That’s Week 1 — the first epoch — plain and simple.Specs on the Yield Farming initiative
We would like to emphasize that a contract like this has never been written before; one that allows users to stake different stable tokens in a single contract. We are proud to give this to the open source/WEB3 community for use in future projects if any find it fitting and hope it reflects our dedicati...