How does Void Bank work ?

This post will go over all the technical info and numbers to go with each Void Bank dapp.

If you missed what Void Bank is, you can checkout this post here: https://link.medium.com/f9kLknCb76


⏳Void Glass⌛️

Void Glass is an hourglass style dapp that pays out 1% of its div pool each day with divs being dropped every hour, similar to how Void Staking divs work. The divs pool will consist of Void, Trx, Btt, Frags, Boss and Usdt at launch.

To enter Void Glass, you can use any of the listed tokens available. If you use a listed token besides Void, it will be used to buy Void via that tokens DeFi Dex pair, the Void thats bought will then be staked in Void Glass for you automatically.


📈 Entering Void Glass 📈

When you enter Void Glass there’s a 20% entry fee, the other 80% (less the 3% void burn), will be your staked shares. (Shares a used to vote in the Void Investments dapp)

As for the 20% fee, it will be split like so:

  • 11% Goes to the Void Glass Div pool
  • 5% Instantly distributed to current Glass users
  • 1% Goes to the Void Investments dapp
  • 1% Instantly distributed to the matching Void LPs earnings
  • 1% For Platform fee’s
  • 1% Ref bonus (sent to glass if no ref)

As an example, if you enter Void Glass with 1000 Trx, 80% (800 trx) will be used to buy Void from the Void DeFi Trx Dex pair. That Void is then staked (less 3% void burn) in void glass automatically.

The other 20% will be split as listed above:

  • 110 Trx goes to the Void Glass Div pool
  • 50 Trx is instantly sent to current void glass users earnings
  • 10 Trx goes to the void investments dapp fund
  • 10 Trx is instantly sent to Trx LPs earnings
  • 10 Trx goes towards platform fee’s
  • 10 Trx Ref bonus*

*Note: To be eligible for the Ref bonus, users must have a minimum of 100 Void shares in Void Glass. If no Ref link is used or the users Ref link is inactive, the 1% Ref bonus will instead go to the Void Glass Div pool.


📉 Exiting Void Glass 📉

When you exit Void Glass there is a 10% exit fee, the other 90% is what you’ll receive. If you exit to a listed token, your void will first be traded against the selected tokens dex pair and then the exit fee is taken out and distributed.

As for the 10% fee, it’s split out like so:

  • 7% Goes to the Void Glass Div pool
  • 1% Goes to the Void Investments dapp
  • 1% Instantly distributed to the matching Void LPs earnings
  • 1% For platform fee’s

As an example, if you exit Void Glass with 1000 Void and pick Trx to cash out, your Void will be sold to the Void DeFi Trx Dex pair. That Trx then has the 10% exit fee applied and you’ll receive the other 90%.

In this example, lets say Void is worth 1 TRX so 10% is worth 100 TRX.

The 10% fee would split like so:

  • 70 Trx goes to the Void Glass Div pool
  • 10 Trx goes to the Void investments dapp fund
  • 10 Trx is instantly sent to Trx LPs earnings
  • 10 Trx goes towards platform fee’s

Note: If you enter or exit Void Glass with Void directly, the 1% that is sent to the LPs will instead be sent to Glass divs.


💰Void Investments 💰

This is where Void Glass investors who have voting shares in Void glass, can vote on where the Void investments weekly investment funds are spent.

During the week, Glass share holders can use their voting shares and vote for one or multiple projects they like. They can vote any number of times and add more shares to cast more votes. At the end of each week, all the votes will be counted and that weeks investment funds, will be split and sent out to be invested in each project, according to the % of votes they received.

As an example, say we have 5 voting options available and at the end of the week the projects received the following votes:

  • Project A ~ 45%
  • Project B ~ 20%
  • Project C ~ 17.5%
  • Project D ~ 12.5%
  • Devs to take a share ~ 5%

Based on these votes, the dev team will use that weeks funds and invest them according to these percentages.

Once a project has an investment made, all profits from these projects will be paid out weekly to the Void Glass div pools.


🏛 Void Treasury 🏛

The Void Treasury will be used to dapp drop a seeded fund of 1,000,000 Void! Each day the Void Treasury will have 2500 Void for sale, but with a twist …

To participate in buying from the treasury that day, users can send any amount of Trx they want to spend, multiple transactions over the day if they wish with no limits, but …

At the end of each day the available Void will be split and distributed based on your share of Trx spent. All Trx funds raised are distributed throughout the Void Bank dapps below:

  • 70% Goes to the Void Glass div pool
  • 5% Is instantly distributed to Void Glass earnings
  • 25% Goes to the Void Investments dapp fund

As an example, if you spent 1000 Trx and the treasury receives 10,000 Trx that day. You would have bought 10% so you would receive 250 void of the 2500 available. (This doesn’t include voids 3% burn)

The trx raised would then be split like so:

  • 7000 Trx goes to the Void Glass div pool
  • 500 Trx is instantly distributed to Void Glass earnings
  • 2500 Trx goes to the Void Investments dapp fund

Thats everything about the bank, we hope you enjoy whats coming and we look forward to all the suggestions on what projects the Void Investments dapp should invest in! Thanks again for all the support, have any questions? Head on over to our Telegram and let us know.

-VOID DEV TEAM


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