Ramses Kingdom Development Update (Q2 2024)
Ramses Kingdom Development Update (Q2 2024)
In our pursuit to onboard more users to our platform(s), and in line with our V3 roadmap, we have made the following decisive moves for the following epoch starting on April 4th 0 UTC, and also marks the start of Q2 (Epoch 55):
The following changes are relevant for all kingdom deployments, including: Pharaoh, Cleo, Nile, and some applicable to RA.
Removal of Boost: Boost removal has been in the roadmap for Ramses V3, and is now fully completed and live on all deployments. Starting the following epoch, there will be no more active boosting system, and users with or without an NFT can earn the same yield as others.
What does this mean for my positions on The Ennead?: The Ennead is undergoing a rebrand/merger with Liquid Driver’s liveToken model to develop ‘liveRAM’ as well as other products that will exist within the kingdom. As boost is removed, LPing on The Ennead will not give you any further benefits at this time. It is recommended that following the epoch flip, positions should be withdrawn from the platform.
Sunsetting xRAM from the emission’s split: On top of the gauge boost, the second largest barrier of entry into our system was the xRAM token and its high-friction model. Due to recent traction and enhanced demand, we are fast-tracking the removal of xRAM from the emissions curve and all emissions for the foreseeable future will be in fully liquid RAM tokens. To pair with this change, the emissions have been reduced in half to come close to the current instant exit output. Currently 1 xRAM = 0.6 RAM (after instant exit), and thus the 40% discrepancy is effectively caked into the emissions reduction. E.g. instead of 1,000,000 emissions in xRAM, the following epoch will have 500,000 in RAM.
What does this mean for my existing xRAM?: All existing xRAM will stay as it has been, and will stay as a page on the UI until it is not needed anymore. Eventually the link on the UI will be taken off the top bar and will be migrated to the drop-down menu as more people exercise their options on their remaining xRAM tokens.
Additional Development Updates:
- Protocols can now incentivize Concentrated Liquidity Pools multiple epochs in advance via the new notifyRewardAmountForPeriod()function which resides in the ClGauge.sol contract
- ALM UX/UI Updates are being slowly rolled out on our site, and a more user friendly interface will be live in the coming weeks.
The Path Forward Towards V3
Our V3 kingdom-wide upgrade is still in the development lifecycle and will be undergoing a full audit of the changes as soon as it is completed internally. A full list which is updated on a pseudo-weekly cadence (based on current development goals) of these changes can be found on the Ramses docs at: https://docs.ramses.exchange under the road to v3 sub-topic.
Our team is ecstatic to expand our userbase and reach new heights, and our commitment to the V3 upgrade will solidify this into a reality. More information on the full V3 roll-out will be described in further detail soon in a comprehensive development update changelog article.
Best,
The Ramses Kingdom
