Pumpkin 101🎃 Basic Guide to IOST’s Smooth Silky Version of SushiSwap

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  • Token Symbol: PPT
  • Supply: 2,927,232 PPT
  • Contract Address: Contractzz6ihpEjkY1zADZPzwE4eFW6u7Rkr6k2C6e2HRG2TGh

1. What is Pumpkin?🎃🎃🎃

Pumpking Team is excited to officially launch the first Yield Farming project on the IOST chain- Pumpkin:

  • Fully operated by the community
  • Zero-risk investment
  • Zero private investment
  • No pre-mine
  • High yield

2. What is Pumpkin Token (PPT)🎃🎃🎃

Pumpkin Token (PPT) is an IRC20 token issued on the IOST chain. The total supply of PPT is 2,927,232, and 95% of the total supply will be released to users through yield farming. We hope to use PPT to promote the development of the IOST Autonomous DeFi community.

In addition, the Pumpking team will reserve 5% of the total PPT supply for technology development and market operations costs. For every 100 PPT farmed by the users (farmers), our team can unlock 5 PPT.

In order to incentivize the early supporters of PPT, the Pumpking team proposed a halving model in which PPT output will be halved every 7 days.

E.g.: In the first farming week (16:00 on September 13, 2020, to 16:00, September 20, 2020 (GMT+8), users will be able to farm up to 1,463,616PPT, which is half of the total supply. After that, the halving process will be activated and the weekly farming supply will be reduced by 50%.

3. Has the contract been audited?

The IOST technical team has completed a preliminary audit of Pumpkin’s contract and we are working with a well-known third-party professional team for the second round of audit.

The Pumpkin contract uses a timelock mechanism and will open when pumpkin goes live. After the contract owner enables the timelock, if he wants to update the contract, he must first call “stopTimelock”. After that, the contract can be updated after 24h. Under normal circumstances, there is no need to update the contract, hence, nor call the “stopTimelock” function. If a user is not satisfied with the newest update of the contract, there are 24 hours to withdraw.

4. PPT Distribution & Acquisition

The issuance of PPT is based on decentralized smart contracts and no-one can issue additional tokens.

There are two ways to get PPT:

  • Get PPT through staking IOST and PPT
  • Purchase through a decentralized exchange.

Part 1: How to Farm PPT?

Please refer to the Pumpkin farming & trading tutorial here:

https://medium.com/@pumpking_official/guideline-how-to-farm-ppt-pumpkin-for-iost-users-5a9e87bf0f3

Part 2: Where can we trade PPT?

  • IOST DEX:

Users can use the decentralized exchange IOSTDEX to trade PPT.

Website: https://www.iostdex.io/

  • otbTrade

Users can use the decentralized exchange otbTrade to trade PPT.

Website: https://otbtrade.com/

5. PPT Farming Rules:

*Updated on 15 September 2020, 18:00 (GMT+8)

  • Silver farming pool: stake any amount of IOST to get PPT
  • Gold farming pool: According to the ratio of 1 PPT : 10000 IOST, stake PPT and IOST at the same time to get PPT
  • Platinum farming pool: According to the ratio of 1 PPT : 10000 IOST, stake PPT and IOST at the same time to get PPT (Minimum staking requirement: 20 million IOST and 2000 PPT)
  • Diamond farming pool: According to the ratio of 1 PPT : 10000 IOST, stake PPT and IOST at the same time to get PPT (Minimum staking requirement: 50 million IOST and 5000 PPT)

For example, Alice wants to participate in the gold farming pool, so she must stake 200,000 IOST + 200 PPT at the same time.

Features:

  • Silver farming pool: 0 costs, 0 thresholds, stable income, and free deposit and withdrawal
  • Gold farming pool: low threshold, high return, controllable risk, and free deposit and withdrawal
  • Platinum farming pool: the highest return, controllable risk. Can get airdrop in the first week of deposit for farming (must stake at least 20 million IOST and an equal proportion of PPT)
  • Diamond farming pool:highest return, free deposit and withdrawal

6. PPT Farming Period

*Updated on 15 September 2020, 18:00 (GMT+8)

The first official Farming Week, with the addition of the 13M IOST airdrop event officially starts at 16:00 (GMT+8) on September 13, 2020, and ends at 16:00 (GMT+8) on September 20, 2020, for a total of 7 days. In addition to the huge farming rewards, you can also participate in the airdrop via the Platinum farming pool.

The next farming week will start at 16:00 (GMT+8) on September 21, 2020. The total amount of PPT that can be farmed will be halved every 7 days. The earlier you participate, the greater the returns of PPT.

The subsequent farming weeks will follow similar timeline & rules.

7. Rewards Distribution in the 4 Major Farming Pools of PPT

*Updated on 15 September 2020, 18:00 (GMT+8)

There are 4 farming pools for PPT farming: silver farming pool, gold farming pool, platinum farming pool, diamond farming pool, and the token distribution is as follows:

  • Silver farming pool: 17,118.315789474 PPT
  • Gold farming pool: 342,366.315789474 PPT
  • Platinum farming pool: 855,915.7894737 PPT
  • Diamond farming pool: 1711,831.5789474 PPT

Silver Pool token amount: Gold Pool token amount: Platinum Pool token amount:Diamond Pool token amount = 1:20:50:100

8. How to calculate returns

*Updated on 15 September 2020, 18:00 (GMT+8)

All farming rewards are calculated based on the implementation of smart contracts. It is divided equally in time. E.g

  • Silver Pool generates 8,559.15 /7/24 = 50.94 PPT per hour in the first farming week
  • Gold Pool generates 171183.15 /7/24 = 1018.94 PPT per hour in the first farming week
  • Platinum Pool generates 427957.89 /7/24=2547.36PPT per hour in the first farming week
  • Diamond Pool generates 855915.78/7/24=10189.47 PPT per hour in the first farming week
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9. Platinum Pool Airdrop- 13 Millions IOST Airdrop- Opens Now to 20 September 2020!

Farm Pumpkin 🎃PPT and share a 13 million IOST airdrop!

9.1. What is the platinum pool airdrop plan

From now to 16:00, September 20, 2020 (GMT+8), users who participate in the platinum pool in the first farming week will be able to participate in the airdrop and share 13 million IOST. Starting time for lock-up calculation: September 21, 2020, at 0:00 (GMT+8)

To participate in the platinum pool, users must stake at least 2 million IOST and 2000PPT before 16:00, September 20, 2020 (GMT+8).

9.2. Rules for the airdrop

Users of the platinum pool will share 13 million IOST airdrop rewards based on the lock-up time and lock-up amount. The minimum lock-up time for airdrop rewards is 10 days and the maximum is 30 days. Unlocking halfway will disqualify the user for the next lock-up period.

  • 10-day lock-up: Share 1 million IOST in proportion to the locked amount
  • 20-day lock-up: Share 2 million IOST in proportion to the locked amount
  • 30-day lock-up: Share 10 million IOST in proportion to the lock-up amount

9.3. Examples:

Alice deposited 20 million IOST and 2000 PPT (Pumpkin Token) at 16:00 on September 19, 2020, and then unstaked IOST and PPT at 16:01 October 10. The actual effective lock-up time of Alice 20 days, from September 20 to October 10. With this, Alice will share 2 million IOST from the airdrop in proportion to the locked position.

Bob deposited 30 million IOST and 3000 PPT at 18:00 on September 18, 2020, and then unstaked IOST and PPT at 16:01 October 17. The actual effective lock-up time of Bob is 27 days, from September 20 to October 17, which does not meet the 30-day lock-up requirement, so Bob can only share 2 million IOST in proportion to the lock-up amount.

Charlie deposited 20 million IOST and 2000 PPT (Pumpkin Token) at 16:00 on September 16, 2020, and then unstaked IOST and PPT at 12:00 September 27. The actual effective lock-up time of Charlie is 6 days, from September 21 to September 27, Charlie does not even meet the minimum lock-up requirements, so he will not share any of the airdrop rewards.

Notes:

  1. Airdrop rewards will be released in batches before November 15;
  2. This is the first airdrop event, please stay tuned for more airdrop events;
  3. The company reserves all the rights for the final explanation

10. For more information, please visit:

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A silky smooth version of #Sushiswap on #IOST. Farm Pumpkins all year round.

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