The Great Event.
Dynamic Rebasing comes to Invictus. The unconquerable Sol breathes in the air of change.
(◎,◎)
Out of the night that covers me, Black as the pit from pole to pole, I thank whatever gods may be For my unconquerable soul.
In the fell clutch of circumstance I have not winced nor cried aloud. Under the bludgeonings of chance My head is bloody, but unbowed.
Beyond this place of wrath and tears Looms but the Horror of the shade, And yet the menace of the years Finds and shall find me unafraid.
It matters not how strait the gate, How charged with punishments the scroll, I am the master of my fate,
I am the captain of my soul.
(◎,◎)
How (re)Based is IN?
Decentralized Reserve Currencies that exist today take two approaches to rebasing, they follow OlympusDAO with an 8 hour rebase period or pick an arbitrary amount of time between rebases to appear novel. We are flipping the script.
Invictus is taking a fundamentally new approach to a Decentralized Reserve Currency by implementing what we call Dynamic Rebasing. We define Dynamic Rebasing as rebasing that occurs with every block with the contract rapidly adapting to our treasury size. Dynamic rebasing means that as soon as you stake (◎,◎) = (3,3), you will instantly begin seeing your staked balance go up.
The rebase formula is represented as:
Reward = Reward Rate * (block delta since last interaction)
Additionally dynamic rebasing solves the issue of larger holders selling directly after a rebase, putting downward pressure on IN prices in concentrated windows after 8 hours. By continuously rebasing, rewards will have growing distribution across all time frames, making the protocol stable and solvent.
Finally, with Dynamic Rebasing, IN stakers will be happy to hear that their stakes will auto compound faster, meaning staking and compounding IN will work even harder for you. You have been seen (◎,◎).
Why not just do this IN the first place?
The Invictus team wanted to test the waters with us being the first Decentralized Reserve Currency on Solana. With an 8 hour rebase, exactly like OHM, we believed our product would be easier to understand. Now that we have broken the ground on Solana, we can push the limits of the platform we are built on. With Solana’s speed and low transaction cost, Dynamic Staking makes the most amount of sense from a user perspective and a platform perspective. You have looked into our (◎,◎) and we have looked back at your, so to speak.
Tether’d to the Sun.
We also proud to be launching USDT bonds, available very soon for all those interested. USDT bonds will be very similar to USDC bonds, and will only help boost our treasury and RFV. Furthermore, USDT bonds allow us to farm the USDC/USDT pool using our integration with Tulip Protocol.
A total of 1.2 million USDT of bonds will be sold. USDT Bonds will go live in less than 24 hours.
The tulips need their sun (◎,◎).
With the launch of USDT bonds, we will effectively be able to use Tulip Protocol to Boost APYs by gathering yield from the USDC/USDT farm and passing it on to our APYs for our stakers. This should boost our APY even further, and in combination with Dynamic Rebasing, now should be incredibly exciting to be a staker in Invictus. (◎,◎) = (3,3). We will use Tulip Protocol to manage our treasury assets for the foreseeable future.
What will this do to APYs?
Invictus APYs will most likely rise significantly due to the nature of auto-compounding happening at a quicker rate on top of USDT bonds, and Tulip Protocol Farming. Please keep a look out for an APY update as soon as Dynamic Rebasing is live, you do not want to miss this.
A word to our community.
Finally, we want to thank our community for being so active and supportive of the the decentralized reserve currency on Solana. We have been live just around a week, and almost everyone has been patient with the team as we build out the features you expect from us. Building this was no easy task, so we thank you for staking with us from infinite % APY, all the way down to 800%. This is our way of giving back, by building something completely novel, with the APYs to back it.
Dynamic Rebasing will go live this week, with Ablaze knowing exactly when we will push the update.
The community has been seen (◎,◎).
We are always watching. (◎,◎) Spread this message far and wide for all to be seen (◎,◎).
Sol Invictus is the captain of my SOL. Sol Invictus brings me IN, helps me grow, and leads me towards where I must go. You have looked into our (◎,◎) and we have looked back at yours.
Follow us on Twitter: @invictusdao
Our discord: https://discord.gg/invictusdao
