Dystopia is a new future. One that has been based on history, but plans to pave its own path.
While Solidly introduced the world to the first ve(3,3) experiment, it sadly did not live up to its hype because of some critical flaws. Foremost, the bribing contracts allowed for users to accept bribes even if they did not follow through with their votes for the specified pool. The emissions schedule was too intense, causing the token to dump. The full non-dilution effect for ve lockers created limited incentives for liquidity providers to deposit their liquidity, knowing that their gained emissions also went to ve lockers at a 1:1 ratio. Lastly, spam pools were created to earn emissions without adding value to the ecosystem.
Dystopia aims to acknowledge the advances made by Solidly, but continue this ethos of innovation and improve the idea of ve(3,3).
Protocol Design Changes
- Non-dilution has changed to reduced dilution. Now for each 1 DYST minted as reward, veDYST holders receive 10% and Liquidity Providers receive 90%
- Swap fees are 0.05% instead of 0.01%
- 20% of the DYST circulating supply is needed to whitelist tokens to be eligible for pools that receive emissions
- Pools can be downvoted to prevent spam pools from receiving emissions if they are created by an entity that accumulates 20% of the circulating supply
- Governance Treasury added
- Emissions schedule has been smoothed, to allow for longer and more sustainable emissions (Minter.Sol refactored)
Technical Changes
- Whole debase updated to latest Solidity version
- Migrating liquidity contracts added
- 100% code coverage added
- More structured contract and test cases added in typescript
- Deployer scripts and various helper scripts made
- Naming conventions changed
UI and Backend changes:
- Entire UI changed according to a new figma, to be more user friendly
- Mobile responsive designs and UI
- Web3 integration changes according to updated smart contracts and APIs
- API development according to codebase
- Migrate UI added to migrate liquidity from exchanges
