SingularityDAO DynaSets — Contribution and Forge

Greetings Singularitarians,

Need a reminder of what DynaSets are? Get a high level overview here

It’s time to take a closer look at exactly how contributions are managed and what role the forge plays in it all. For a more technical look at the forge take a look at this article which details how we use 1inch on the DynaSet backend. As with most things revealed in this series of DynaSet Deep Dives, this information applies to the live, public version of DynaSets. Beta DynaSets are using similar but cut down versions of the public mechanic. This information should be considered subject to change based on their results as well as user feedback

The above diagram uses our three beta test DynaSets as examples, but could be applied to any future DynaSets that are launched. As you can see, the contribution period will last for 14 days at which point all tokens will pass through the Forge and into DynaSets.

Tokens added to the contribution pools will earn SingularityDAO Governance Tokens (SDAO) as a reward on a per block basis from the moment they are submitted until the time they are forged and added to a DynaSet. Rewarded SDAO will be available to claim after the forging is complete. Tokens added, but then removed before the forging will not receive any of the accrued tokens. This process is similar in function to how Bonded Staking works on our DApp.

After all contributions have been forged into DynaSets, LP tokens will also be minted which users will then be able to claim along with any accrued SDAO. These LP tokens represent a user’s share of the DynaSet and would need to be returned to the Forge in order to claim the underlying assets and exit the DynaSet.

Stay tuned for more DynaSet Deep Dives. To make sure you don’t miss anything, be sure to join our social channels.

Telegram Community
Announcements Channel
Twitter
Facebook
Instagram
Medium
Reddit
YouTube

And of course Subscribe to our newsletter