Reward Holders
When the token price appreciates, token holders receive staking rewards based on several factors including the percentage price increase, how long they have been holding for and how many tokens they hold. Rewards are distributed on a daily basis!
Staking Reward
When the latest prices have been updated, stakers are rewarded. Internally, this calls the smart contract function that determines how much you are owed based on the price change and other factors such as how long you have been holding for.
Selling Cost
HODLers are incentivized to keep HODLing, and sellers pay high fees and lose future staking rewards when they don’t HODL. DEPOF is deflationary. UniSwap sellers incur a 5% burn. Holders get rewards after meeting certain requirements.
Price Feedback
When the token price appreciates, token holders receive staking rewards based on several factors, including number of days and percentage. Rewards are distributed once the requirements are met to stakers! If the token price does not appreciate, no reward is minted.
Development Roadmap
FAQ
Project
Depo Finance Token (DEPOF) is a deflationary cryptocurrency that adjusts its inflation rate based on market demand. Initially, 21 million DEPOF tokens will be minted.
DEPOF adopts a price action feedback loop to reward holders. When the price appreciates, holders receive rewards proportional to the percent increase, the days held, and the amount held. To put it simply, Sellers pay high burn fees that increase on negative days, and Holders receive rewards on positive days.
DEPOF will be extended to the Cosmos ecosystem, and will be part of the Cosmos Network. DEPOF will also emphasize markets in the Asia Pacific region (Korea, Japan, and China), Europe, and South America.
Every 24 hours, the price change is recorded in our smart contract on Ethereum, and if it’s positive, rewards are available for all holders of 200 DEPOF or more. If it’s negative, sell burn fees may increase, depending on the number of days in a row the price has been negative.
Currently, the minimum amount to receive price-reactive staking rewards is 200 DEPO. For Uniswap liquidity staking, there is no minumum to stake and receive rewards.
Currently, the DEPO team uses a backend service that queries Uniswap for pricing data three times a day and then updates the smart contract on Ethereum with the average percent change. We are working on upgrading this service to query for the price once every hour. In the future, we will use the Chainlink Oracle for decentralized price updates.
DEPO is a fork of Pamp Network repository, and thus inherits the audit reports of smart contracts as well. Credits to Pamp Network team for implementation of price reactivity on the ethereum network. Original smart contract audit reports can be reviewed at: https://pamp.network/PampStaking-Pamp-Network-PAMP-Audit-Report.pdf and https://pamp.network/pamp-deliverable-v2.pdf
The Team is composed of Silicon Valley technology veterans and blockchain experts from top universities. Our vision is that the project will take on a life of its own, and should be fully decentralized. As long as the project source code is open-source, that’s the best guarantee of the project’s authenticity and success.
Trading
It depends on price action. During times of very positive price action, price-reactive staking will make more, and during times of negative price action, liquidity staking will make more. On average, however, our goal is to make the rewards about the same.
Every day the price is positive, simple navigate to Etherscan https://etherscan.io/address/0xf867bcf934d78d74286a015b34449bf30230a7f3#writeContract and claim your rewards. Currently, you must have a balance of at least 200 DEPO to stake. If you move or sell tokens, you will pay a fee of 8% and your staking time will reset, which will significantly decrease your rewards. If you receive 10% of your tokens (by purchasing them or otherwise having them transferred to you), your staking time will be decreased by 1 day.
Install MetaMask browser plugin and setup wallet
Launch https://app.uniswap.org/ and connect through MetaMask
Find Depo token in the UniSwap drop down menu, and start swapping tokens
Please take note to click on the gear in the top right hand corner and set slippage to 15%. If that does not work, try 20%. This is due to the sell burn fees that are part of the Depo incentive mechanism.
