EOS is giving Diamonds, once more!
Hello and welcome to the fourth edition of our EFi V2 Newsletter. I am your host glue dog, and I am excited to show you today what we have been working on since the start of the year: The rebranding and relaunching of DMD, the first Yield Farm on EOS.
New tokenomics
As it stands, the circulating supply of DMD is at 42,000 and it is not exactly clear to us what would be the optimal route forward, the best solution we have found is to create a DMD DAO where DMD holders will be able to vote on the future inflation numbers.
Voters will have the option to choose from the following five proposals:
1). Max supply 52,000 DMD. 10k un-mined, will be distributed accordingly: 1.8k to HUB/EOS pool. 1.8k to DOP/EOS pool. 1.8k to DMD/EOS pool. 2.6k to the DMD Vault and 2k reserved for future partner project liquidity incentives and other such rewards.
2). Max supply 54,000 DMD. 12k un-mined, will be distributed accordingly: 2.2k to HUB/EOS pool. 2.2k to DOP/EOS pool. 2.2k to DMD/EOS pool. 3k to the DMD Vault and 2.4k reserved for future partner project liquidity incentives and other such rewards.
3). Max supply 56,000 DMD. 14k un-mined, will be distributed accordingly: 2.5k to HUB/EOS pool. 2.5k to DOP/EOS pool. 2.5k to DMD/EOS pool. 4k to the DMD Vault and 2.5k reserved for future partner project liquidity incentives and other such rewards.
4). Max supply 58,000 DMD. 16k un-mined, will be distributed accordingly: 2.8k to HUB/EOS pool. 2.8k to DOP/EOS pool. 2.8k to DMD/EOS pool. 4.6k to the DMD Vault and 3k reserved for future partner project liquidity incentives and other such rewards.
5). Max supply 60,000 DMD. 18k un-mined, will be distributed accordingly: 3k to HUB/EOS pool. 3k to DOP/EOS pool. 3k to DMD/EOS pool. 5k to the DMD Vault and 4k reserved for future partner project liquidity incentives and other such rewards.
After the DMD DAO vote has ended, we will update the core DMD token contract one final time with the tokenomic parameters, after which we will change the keys of the token contract to the eosio.prod@minor MSIG.
How fast will the additional DMD be mined out?
The newly minted DMD reserved for the Yield Farms and the DMD Vault will be released over the course of 1–2 years. The Yield Farms and the DMD Vault will have four halvings, one every two weeks. The halvings are applied to each pool individually. By the last halving, which should happen two months after pool deployment, the rewards will be 16 times smaller than during the first two weeks, before the first halving. The same halving concept will apply to the DMD vault.
The Diamond Yield Farms
In the spirit of DMD, we will once again bestow the EOS community with high-adrenaline and high-stakes Yield Farming.
The upcoming Diamond Yield Farm dapp is going to be fully integrated with Defibox LP Tokens, the EFi Golden NFTs and all the popular EOS wallets, including Anchor. It does not require transferring or staking of the BOX-LP (liquidity) tokens. All you have to do in order to participate in the yield farming is to provide liquidity on Defibox for one of the three pairs: HUB/EOS, DOP/EOS or DMD/EOS, and then register once. The BOX-LP Tokens remain in your account at all times, furthermore, users are actually penalized for transferring the LP-Tokens out of their accounts (they do not get any rewards).
Golden NFTs
The Golden NFTs for HUB, DOP and DMD will grant +10% mining rewards for their specific pool, to whoever holds them in their EOS account. The NFTs are non-stackable, which means that if you hold more than one of the same NFT, it won’t grant you any extra rewards after the first one. We have decided to mint all of the remaining from the 137 NFTs (Golden HUB, DOP, DMD) and put them up for sale on AtomicHub for the price of 35 EOS (part of this price is due to AtomicHub fees).
The Golden Diamond will also give you a +10% reward bonus when staking in the DMD Vault, as well as when providing liquidity for DMD/EOS on Defibox.
Users can still purchase the golden NFTs for 27 EOS each, until we release the yield farming DAPP, in late June or early July. The NFTs will become burnable after we release the new dapp on the upcoming DMD website.
Check out https://eosv2.finance/metaverse to get the NFTs right now!
The Diamond Vault
The Diamond V2 Vault is an improvement over the original one:
It will feature three different staking options 30 days — 60 days and 90 days.
It’s a combination between BOX-BSS and DolphinSwap Staking in terms of functionality.
Every time you stake new coins in any one of the three modes, it will reset your release timer. So be careful!
The Diamond Vault will also give Diamond Stakers extra rewards in HUB and DOP tokens.
The Vault will be released a few weeks after the start of the Yield Farms.
Closing Notes
Keep up to date with our progress on the EFi Telegram Channel and follow us on Twitter. We will disclose the launch date as we get closer.
