DELLAR,Next generation of AMPL

What is DELLAR?

DELLAR is a digital asset decentralization protocol for smart commodity currency. The DELLAR agreement aims to achieve price-supply equilibrium.In response to its price deviation from the CPI (Consumer Price Index) target, it achieves the balance required to reduce volatility. Through Rebase, the price of DELLAR is controlled at around 1USD.No pre-sale,no pre-farming,no reservation,no foundation,100% community governance.

How Rebase work？
So far, there are many projects that have successfully used the Rebase protocol and continued to control the price at around 1USD, but the most successful is AMPL.Through the experience provided by AMPL, we believe that Rebase is an effective way to control price stability. However, after several months of operation, AMPL also showed many shortcomings.

Disadvantages of AMPL:

First of all, we can see from the trend of AMPL that in the early stage of operation, the trend of AMPL is moving in a good direction.This good trend can bring a large number of followers to participate. After the price increased to 4 USD, the price of AMPL dropped rapidly. Why did this happen?This is because AMPL conducted a large amount of pre-sale in the early stage. Through three public fundraising, AMPL sold a total of 16 million tokens.This behavior is undoubtedly fatal to the entire community. Pre-sale has caused a large number of tokens far below the market price to be in the hands of whales.Once it reaches a certain price, these whales will inevitably sell their tokens. This behavior will undoubtedly prevent the continued development of AMPL.

Secondly, the Rebase in the AMPL project is based on the price of AMPL itself.According to the price of AMPL higher or lower than 1USD, it is decided whether to rebase and the direction of Rebase. What results will this action lead to?The team has strong control over the trend. The AMPL team or the whale can decide whether to rebase by controlling the price. This is unfair to most AMPL holders.

Optimization of DELLAR:

The optimization of DELLAR is based on the shortcomings of AMPL.

First of all, DELLAR will not conduct any pre-sales, and the project team will not make any reservations, let alone a foundation like AMPL.Because the foundation itself is a big whale.All tokens can only be produced through farming.In other words, before launching on UniSwap, DELLAR farming will be opened first, and all participants, including the project team, can only obtain DELLAR tokens through farming,This will ensure that everyone involved in the project is fair.

Second, modify the Rebase standard from one index to two indexes.Because AMPL’s Rebase uses its own price as the index standard,In order to ensure that the project team or whales will not interfere with the price trend, DELLAR’s Rebase standard is modified to be jointly determined by the DELLAR token price index and the ETH price index.The two indexes respectively determine the direction of 50%, because the ETH market is huge and it is difficult to intervene and manipulate.

The target price set by DELLAR is anchored as CPI (Consumer Price Index), and the amplitude threshold δ is 5%.In other words, when the price of DELLAR and the price of ETH have increased by more than 5% in the past 24 hours, the number of DELLAR token in all holder wallet will increase.When the price of DELLAR and the price of ETH have fallen by more than 5% in the past 24 hours, the number of DELLAR tokens in all wallets will decrease.

For example, in the past 24 hours, the price of DELLAR token has increased by 20%, and the price of ETH has decreased by 10%,accroding each weight 50%:

DELLAR index=20%*50%

ETH index=-10%*50%

Rebase index = DELLAR index + ETH index = 10%
If the Rebase index exceeds the threshold, the number of DELLAR tokens held by holder will increase. If the result of the Rebase Index is negative, then the amount of DELLAR token held by holder will be reduced accordingly.

DELLAR Farming

The initial total of DELLAR tokens is only 8.8 million. Before launching on UniSwap, farming is the only way to obtain DELLAR tokens.The DELLAR token obtained by the team through farming will all be put into the pool to provide initial liquidity.In order to allow more users to participate in DELLARfarming, DELLAR will open at least 12 farming pools at the same time, so that users can obtain DELLAR tokens in different ways. During the first 30 days of mining, 50,000 DELLAR tokens will be produced every day.After 30 days, the outcome was reduced to 10,000 DELLAR tokens per day, and the outcome was halved every year until the end of farming.In order to ensure the normal operation of DELLAR, the team will obtain 2% from the farming output.