Ooze.Finance — A breakdown of maxBalance and maxPayout
The mechanics of the Sewer contract in Ooze.Finance can seem confusing at a first glance, and without diving into the whitepaper, it might stay opaque.
In this article we will take a closer look at the two terms “MaxBalance” and “MaxPayout”
Once you get a grasp of the core mechanics, it is really rather clear — and as I will argue, a rather smart system.
To understand the relationship between deposit, balance, maxBalance and maxPayout there are a few consepts that we need to visit first.
1. Tax
Every action in Ooze.Finance, baring swapping USDC for Ooze on the on-site DEX, has a tax attached to it. For most actions this tax is 10%: depositing; compounding; withdrawing, swapping Ooze->USDC; transferring.
2. Deposited
When you deposit Ooze, either when first minting an NFT or when adding additional Ooze you get a “deposit” on your NFT which is the amount you sent, minus the 10% tax. If you mint an NFT with 100 Ooze, your deposit size will be 90.
3. Balance
The balance is what you gain a 1% ROI on daily. It starts off with your deposited, pluss the kickback from your Guru. As and Order of Slime that kickback ranges from 25% to 75% depending on your Guru.
If you join @SlimeHive or some other guru with 75% kickback, your inital Balance with a 100 Ooze deposit would be:
100*0.9+((100-(100*0.9))*0.75) = 97.5 Ooze
Assuming you have not upgraded your NFT speed attribute (read more about the Ooze NFT here), you will after 24 hours have 1% of your Balance as claimable Ooze. You chose to top up the 0.975 Ooze and your deposit increases:
97.5+(0.975*0.9) = 98.4 Ooze
Your Deposited is the same 90, but your balance has increased with kickback and compounding (“top-up”).
Absolute Max Claimable
No one NFT can have more than 50.000 Ooze claimed.
maxBalance
Let’s go back to our example. You started off with 90 Ooze in your deposits, your balance was closer to the 100 Ooze you sacrificed to the Sewer. After a few days of top-up’s you have passed 100 Ooze, and due to the power of compound interest you will have reached 200 Ooze just north of 70 days later. 400 Ooze 70 days after that again, and so forth — to infinity?
No, and that’s where one of the smart mechanics of Ooze comes to play: you can only get 8 times your deposited as balance. (Or, if you have (wisely) invested in Slime LPs and used XP from top-ups on strength, somewhere between 8 and 12x — more on that in my Slime article and the NFT breakdown article, links below.)
So for your initial deposit of 90 Ooze your base maxBalance is:
90 * 8 = 720 Ooze
Before we dig more into maxBalance, let’s take a brief look at…
maxPayout
The maxPayout (the sum of all your claims) will only ever be 365% of your balance (not your maxBalance — your current balance).
Lets go back to our example, on day 1 of your Ooze journey your Balance is 97.5 Ooze, and your maxPayout would therefore be:
97.5 * 3.65 = 355.8 Ooze
If you were to start claiming daily, or just letting the interest accrue, that would be the amount you had claimed after 1 year, pre-taxes.
maxBalance + maxPayout
So where does that leave you, the investor that put 100 Ooze into the Sewer? Without adding more deposits the limit to what can be pulled out of the contract is:
deposited * 8 * 365%
90 * 8 * 3.65 = 2628 Ooze
That is an amazing 2600% what you initially put into the Sewer (ie. the contract). But you still got a way to go to reach the hard-cap of 50.000 Ooze.
So how do you reach the absolute cap?
There are two paths towards that goal:
- Add fresh capital by depositing new Ooze
- Claim Ooze (instead of top-up) and deposit it.
Both increase your Deposited which is the main figure to watch with regards to your cap of Payout.
Ideal Balance
One last equation to breakdown what an ideal Deposited looks like to reach 50.000 Ooze claimed:
50000 / (maxPayout*maxBalance)/postTaxClaimed
50000 / (3.65*8)/0.9 = 1902
50000 / (3.65*12)/0.9 = 1268
The middle figure is for no experience in the Strength attribute of your NFT. The bottom if you have maxed the Strength attribute — your sweet-spot can be found by replacing the 8 with your maxBalance stat.
Why this is awesome
The sum of these Ooze.Finance mechanics is a system that caters to the robustness and long-term vitality of the system in every nook and cranny! The combination of maxBalance, maxPayout and an absolute max of 50k, with taxes at every turn ensures that the Sewer will keep flowing and churning out gooey Ooze for lots of happy players! I have just briefly touched upon eXtra Potential, NFT attributes and Slime LP in this article, read the articles linked to below for further insights into the awesomeness that is Ooze.Finance!
For the attentive — an assignment and a prize!
Now — for the extra attentive you might have noticed that the two screenshots posted at the very beginning of the article doesn't make sense if they were from the same NFT. Now, with the knowledge garnered from this article you can deduce how much is the maxBalance and maxPayout of the #1 screenshot, and how much is the Deposited and Balance of the #2 screenshot. You can assume 0 XP in Strength attribute for both NFTs. Think you got the answer? Comment below and look me up in telegram, an Order of Slime NFT awaits for the quickest among you :)
I’m part of the SlimBees, the biggest, friendliest and most knowledgeable Ooze community! If you want to join ooze.finance, please consider using my referral ID (@SlimeHive) to get access to the SlimeHive telegram group as well as the big group SlimeBees. Send me a message on telegram when you have joined — or with questions/assistance getting you set up!
For those that join the Order of Slime I offer 75% kickback on your deposit, and all future tributes that hit the SlimeHive, the same goes for my guru!
To join my team, either enter this referral ID (case sensitive!) @SlimeHive or follow this referral link:
Got questions? Contact me on telegram (please reference ooze or this article when you do)
How to get started with Ooze.Finance — with USDC in your wallet on the Fantom Opera network, go to dApp.Ooze.Finance and enter the “ManHole”. There you swap your USDC for Ooze. With Ooze in your wallet, head to The Sewer, where you mint your NFT (remember to enter a Guru! For example @SlimeHive) — now you’re earning 1% day, tied to an NFT that is upgradeable and transferable. Enjoy!
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.
