As we all know, there is no admin key for the V1 protocol, which means that we cannot directly upgrade the V1 contract. Therefore, we used a new set of mechanisms to be compatible with V1.
Before using PolyQuity V2, you need to understand the following changes.
The PYQ stakers…
We are happy to announce that PolyQuity V2（Multi-collateral Assets） will be officially launched on September 26, 2021!
USDC （POS）- 0x2791bca1f2de4661ed88a30c99a7a9449aa84174
Stability pool rewards (7%): Issued to users who deposit PUSD.USDC to the Stability Pool. The rewards described by the following function:
70,000,000 * (1–0.5^year)
We have completed the first phase of work for “Multi-Collateral” version and deployed the PolyQuity Dollar(PYD) contract.
PolyQuity Dollar (PYD)
In the version（V1.5.00） released today, users can already start converting PUSD to PYD.
After the “Multi-Collateral” version is released, we will start some incentive pools to reward liquidity providers of PYD/ Other tokens.
As mentioned in the previous article, the PolyQuity protocol will support multiple crypto-assets as collateral. We have compiled some frequently asked questions from the community.
PUSD.Token is minted by staking collaterals. PUSD.Token is the USD-pegged stablecoin used to pay out loans on the PolyQuity protocol. …
We will begin a comprehensive transformation of the system to support “Multi-Collaterals.”
As everyone knows, we do not have any admin keys to directly modify or upgrade the PolyQuity contract.
As such, so our team will adopt a new mechanism to support the “Multi-Collateral” version. Here, we would like to…
We are very happy to announce that V2 will be launched soon! The innovative features it contains will make the protocol much more competitive.
In the traditional staking mode, the tokens that users stake will be locked into a contract and the users will get a certain Staking-Token. …
The Redemption Feature will be unlocked on 7/11/2021
Before we get started, I’ll answer the most common question right away. No, redemptions are not the same as paying back your Trove’s debt. You can do that free of charge and debt repayment has been available since launch.
PUSD redemptions are…
Based on the design philosophy of PolyQuity, the protocol does not have any function of governance or voting. Therefore, we designed this system to encourage holders to stake PYQ in long term to capture more platform fees.
The token contract will charge the fee(floating) for each PYQ transaction.
Deployed on June 27, 2021.
PolyQuity will be fully functional at launch minus redemptions. In other words: Users will have the…
PolyQuity is based on the audited Liquity code base.
Auxiliary code was added by PolyQuity and these code changes (including innovative mechanism for PYQ token ) have been audited by Certik. The summary of the audit report has now been uploaded.
You can find the PolyQuity source code audit by Certik below:
Safety and security will continue to be one of our top priorities. We would like to thank the Certik team for auditing PolyQuity. In the future, we will continue to seek new audit reports from other audit companies.