Deliland has existed in its current state for over a year now. You can collect gH20 at Lake Lauren, mine SALT, earn ACREs or ANIMAL for providing liquidity, and mint farm nfts that grow raw materials (BUSHELs of wheat, CANE, and gSEED).
Throughout September, I will be releasing updates to Deliland. The first of these is a system for processing raw materials.
Industries: Refineries & the Solar Plant
The Mill, Sugar Refinery, and Oil Refinery process raw materials into ingredients. Each raw material can be processed into two types of ingredients.
- Mill: BUSHEL >> gFLOUR or gwFLOUR (wheat flour vs. whole wheat flour)
- Sugar Refinery: CANE >> gSUGAR or gbSUGAR (sugar vs. brown sugar)
- Oil Refinery: gSEED >> gcOIL or gpOIL (cooking oil vs. premium oil)
0.3% of the raw materials processed by refineries are set aside as a tax and sent to the Refinery Tax Manager.
In order for the refineries to operate, there must be enough (>=50% of the circulating supply) ENERg staked into the Solar Plant.
1 ENERg token can be minted by burning 1 gDELI. The process is not reversible.
Any user with an active ENERg stake can use the tax manager. The manager accumulates the taxes raw materials. It tells the user the dollar-value of the accumulated resources. The user can trigger the Refund Taxes function. This function:
- Deposits the accumulated resources into a Beethoven three pool, BLT-gRAW.
- Distributes 95% of the LP tokens to active ENERg stakers.
- The remaining 5% goes to the user that calls the function.
Governance
The Deliland Democracy will begin utilizing a new governance token, mgDELI. mgDELI can be created by burning gDELI. The process is not reversible. Burning 1 gDELI mints 1000 mgDELI. mgDELI is non-reflect.
Governance power is the square-root of your mgDELI balance.
The Future of the gDELI Token
gDELI is and always will be the Core Token for the Deliland Universe. It is a reflection token. It is meant to be HODL’d.
Reflection tokens have some issues with staking and pairing. To avoid future issues, I wanted to eliminate the need for users to ever stake gDELI. This is the motivation for the creation of the mgDELI token, which is created by burning gDELI.
gDELI can also be burned to create ENERg. ENERg is used to power raw material processing plants, and stakers are distributed a portion of the processed and raw materials.
1 gDELI represents the unspent option to mint 1 ENERg or 1000 mgDELI.
Deliland Liquidity and Secondary Markets
With the creation of ENERg and mgDELI, and the launch of SpiritSwap V2, it felt time to reassess the liquidity for Deliland assets. Here are some decisions I made and their motivations.
Deliland liquidity is built using SpiritSwap V2 and Beethoven.
Deliland Liquidity providers are rewarded at three farms: (1) Acres Markets — ACRE, (2) Animal Farm — ANIMAL, and (3) Ugu’s Exchange — UGU.
Acres Markets has farms for core Deliland pairs. Primary Liquidity for gDELI, ENERg, mgDELI, ACRE, ANIMAL, and UGU will be incentivized here.
Animal Farm rewards providers of ANIMAL LPs. Ugu’s Exchange rewards providers of raw material and ingredient LPs.
Decision 1: ACRE-FTM pair replaced by ACRE-DAI
ACRE should have a value based on its own demand. The downside to this is that ACRE price will no longer directly benefit from a FTM price increase. The positive is that ACRE price will depend more on emissions and demand. Estimated APRs will be more accurate to realized ROI.
Decision 2: gDELI-FTM remains the only gDELI LP
The point of HODLing a reflection token is to be bullish af and HODL your way into an ever increasing share of the total supply. We are all bullish on FTM and I think it is appropriate that gDELI-FTM remains the only gDELI pair.
No secondary markets in the form of gDELI-ENERg or gDELI-mgDELI will be incentivized.
Decision 3: ENERg-DAI will be the primary pair for ENERg.
This generates arbitrage trading volume across ENERg-DAI and gDELI-FTM when FTM or gDELI change in price. It incentivizes burning when gDELI price drops and decentivizes it when the price increases, resulting in more stable price movements.
Suppose at some time, T, the price of gDELI is $100, and the price of ENERg is $100. If the FTM increases by 5%, the price of gDELI would also increase by 5%. So gDELI = $105, ENERg = $100.
If a gDELI holder wants to obtain 1 ENERg, the optimal route is selling 0.952 gDELI for $100 and using it to buy 1 ENERg.
If the price of fantom goes up, burning gDELI to obtain ENERg is suboptimal.
Suppose at some time, T, the price of gDELI is $100, and the price of ENERg is $100. If the FTM decreases by 5%, the price of gDELI would also decrease by 5%. So gDELI = $95, ENERg = $100.
If a gDELI holder wants to obtain 1 ENERg, the optimal route is burning 1 gDELI for 1 ENERg and using it to buy 1 ENERg.
If the price of fantom goes down, burning gDELI to obtain ENERg is optimal.
If a trader has $95, they could buy 1 gDELI for $95, burn it for 1 ENERg, and sell the ENERg for $100.
If the price of fantom goes down, arbitrage trading volume on ENERg-DAI & FTM-gDELI pairs will increase.
Decision 4: Incentivize a stable ENERg-mgDELI pair.
1 gDELI can be burned for 1 ENERg or 1000 mgDELI. It makes sense that a user should be able to make direct swaps between ENERg-mgDELI with minimal slippage. This warrants use of a stable LP.
Decision 5: mgDELI-ACRE will be the primary pair for mgDELI.
This ensures that the price of ACRE is somewhat exposed to the price of gDELI.
Decision 6: Remove ANIMAL-FTM pair.
The primary pair for ANIMAL will be ANIMAL-ACRE. If a user wants to purchase ANIMAL with DAI, then the most likely trade-route is DAI > ACRE > ANIMAL. This generates trading volume across the main ACRE pair and the main ANIMAL pair.
Decision 7: Create a new farm and token (UGU) for incentivizing raw material/ ingredient LPs.
Each refinery ensures that 1 Raw Material can be processed into either N_1 Ingredients or N_2 Premium Ingredients.
Users should be able to swap between the three raw materials with minimal slippage. The materials are not correlated well enough for stable pairs. I personally think a 3-pool on Beethoven would be best. BLT-gRAW = (BUSHEL, CANE, gSEED)
Users should be able to swap the raw materials for their corresponding ingredients with minimal slippage. ( BUSHEL-gFLOUR Stable LP, BUSHEL-gwFLOUR Stable LP, … )
Users can swap the ingredients for premium ingredients and vice-versa through the stable routes above. (gFLOUR > BUSHEL > gwFLOUR)
We create UGU to funnel all external purchases of materials or ingredients through one choke point.
This is facilitated by having the primary UGU pair be UGU-ACRE, and the secondary be UGU-BLTgRAW.
Users that want to purchase raw materials with DAI use this trade-route (> is swap, \ is withdraw:
DAI-to-MATERIAL = DAI > ACRE > UGU > BLT-gRAW \ MATERIAL
Users that want to purchase ingredients with DAI use this trade-route:
DAI-to-MATERIAL > INGREDIENT
SALT and gH20 can be combined into BLT-gOCEAN, which is 96.5% gH20 and 3.5% SALT. The incentivized pair is UGU-BLT-gOCEAN.
Deliland National Bank
Users can burn 1 gDELI for 1 EnerG or 1000 mgDELI.
- Balance Reports for Deliland Government Treasury
- Circulating Supply and Prices for gDELI, ENERg, and mgDELI.
- Your Deliland Portfolio.
New site will be live here: bank.deliland.io (Late August - Early September)
Acres Markets
Changes and considerations:
All current ACRE pools will be discontinued.
gDELI single stakers should withdraw and consider:
1) Burning for ENERg
2) Burning for mgDELI
3) HODLing for reflection
ECHO, FTM-ECHO LP, FTM-GIGADEFLATON, and FTM-DEFLATON LP holders will have the ability to leverage their positions at the Quanta Company in the future.
FTM-gDELI holders should upgrade to the V2 LP.
Global ACRE emissions will be lowered from 9.4 to 1 ACRE per block.
The new ACRE emissions allocations will begin according to the following pie chart.
Update will be live here: acres.deliland.io (Late August — Early September)
Animal Farm
The new ANIMAL emissions allocations will begin according to the following pie chart.
Update will be live here: animalfarm.deliland.io (Late August — Early September)
Liggies’ Livestock
At Liggies Livestock, you can use your ANIMAL and ACRE to purchase Genesis Packs and other NFTs. When you purchase NFTs from Liggies, you receive an amount of LIGGIES token. LIGGIES can be used to purchase cosmetic modifications to your Land and Animals. They can also be paired with ANIMAL to farm more ANIMAL.
Initially there will be genesis packs, containing a Matriarch and Patriarch animal and the Livestock Land NFT.
There will also be god-tier bulls for breeding available for either DAI or ANIMAL.
DAI used at Liggies is distributed:
- Liggies’ Lounge — 76%
- Deliland Government Treasury— 16%
- Maxus — 8%
The standard, permanent, Livestock Land NFTs are:
ANIMAL tokens used at Liggies are burned.
ACRE tokens used at Liggies are distributed to veLIGGIES holders.
Liggies’ Lounge
LIGGIES holders can lock LIGGIES for veLIGGIES.
veLIGGIES holders can claim the DAI and ACRE from NFT sales periodically.
New site will be live here: liggies.deliland.io (October-December)
Initial supply of 137,000,000 LIGGIES will be airdropped to the top 42 ANIMAL holders. Snapshot will be taken on August 31st. Airdrop will be carried out on September 4th.
Above was a misprint. Initial supply was 464 LIGGIES. I minted an additional 36 LIGGIES to add to LP on SpiritSwap (I only added 23, but will continue to add more). Current Supply is 500 LIGGIES. Airdrop was distributed based on the SQRT of your balance.
Ugu’s Exchange
The primary function of Ugu’s Exchange is swapping between materials and ingredients. UGU is the asset earned when providing liquidity at the Exchange.
The ACRE-UGU and UGU-BLTgRAW pairs form the backbone of Ugu’s Exchange.
The UGU-BLT-gOCEAN and UGU-YOMOPU pairs cover the remaining materials.
Six Stable Resource pairs are incentivized, all using SpiritSwap V2 Stable pools.
- BUSHEL — gFLOUR
- BUSHEL — gWFLOUR
- CANE — gSUGAR
- CANE — gbSUGAR
- gSEED — gcOIL
- gSEED — gpOIL
UGU can be locked for veUGU.
UGU Emissions can be voted on by veUGU holders.
New site will be live here: ugu.deliland.io (Late September-Early October)
Initial supply of 137,000,000 UGU will be airdropped to the top 42 ACRE holders. Snapshot will be taken on August 31st. Airdrop will be carried out on September 4th.
Above was a misprint. Initial supply was 1000 UGU. I minted an additional 100 UGU to add to LP on SpiritSwap. Current Supply is 1100 UGU. Airdrop was distributed based on the 4th Root of your balance.
Yeast Countertop
Here users will make the first Chainlink VRF fueled NFT ingredient. To make yeast you will need
- gFLOUR or gwFLOUR
- gH20
- Small Bowl with Lid
- Stirring Spoon
Combine the ingredients into the bowl and stir to create a Stage 0 Starter Yeast NFT.
Every 12 hours add one to two tablespoons each of gFLOUR and gH20. Each Nth addition creates a new Stage N Starter Yeast NFT.
At Stage 10 your starter is ready to use.
The quality of your starter depends on the quality of the bowl, spoon, and use of whole wheat flour.
Using gwFLOUR increases all non-poor outcome probabilities by 10%.
Base Probabilities for Stage 0 Starter quality are:
If you use gwFLOUR, that changes to
If you have a Master Spoon and Bowl, your base probabilities are
If you have a God Spoon and Bowl, your base probabilities are
Each time you stir and move to the next stage, the new Starter quality is directly impacted by the current Starter quality.
In the case of Standard gFLOUR Starter, the Base Probabilities to move from one quality to another each stage is given by:
The cumulative result for each important case is:
A 2000 DAI investment yields a Legendary every 128 attempts on average. This is 1 Legendary per 640 days.
A 200 DAI investment yields a Masterwork every 14 attempts on average. This is 1 Masterwork per 70 days.
Standard setup yields 1 Masterwork per 843 attempts and 1 Legendary per 110 years. With whole wheat, 1 Masterwork per 570 attempts and 1 Legendary per 5375 attempts.
Around 70% of outcomes are Normal or above and this does not change much with expensive configurations. Excellent quality Starter is nearly equiprobable in Standard, Master, and God configurations.
With Standard gear, Legendary Starter is once in a lifetime. Masterwork is once a decade.
With Master gear, Masterwork Starter will be created an average of 5 times per year.
With God gear, Legendary Starter will be created once every 21 months.
New site will be live here: yeast.deliland.io (October-November)
What About Bread?
Flour, Sugar, Salt, Water, and Yeast makes bread. Once we get the Yeast Countertop live, we are ready for baking.
gFLOUR will create Wheat Loaves. gwFLOUR will create Whole Wheat Loaves.
The initial quality of the dough will depend mainly on the quality of the yeast.
Wen Sandwich?
Farmgodsoon
I didn’t proofread this so let’s call it a draft and yeet the publish