SpartanDev: 23/11/20–29/11/20
Dev Update: Bond+Mint V3| SpartanSynths | SpartanPools | SpartanSwaps
SpartanContracts — Bond+Mint v3
This week the contributors pushed Version3 of Bond+Mint — A community-crafted solution aiming to complete the initial token distribution whilst also bootstrapping TVL (Total Value Locked) into the pools ready for SpartanSwaps, SpartanSynths and other future features.
It is important to have deep pools to reduce the amount of slippage on larger trades, therefore the team decided to focus on 3 pools that are most desired by the community.
- BNB, BUSD, USDT all enabled for Bond+Mint.
- ~7.5 million SPARTA Allocation — this includes the remaining 4,998,957 SPARTA recovered from the Version 1 contract.
- Reduce vesting ratio to 0/100 — 0% instant; 100% over 12 months.
- Change calculation of SPARTA mint amount from ‘Spot Price’ to ‘Purchasing Power’ — Bonding is now subject to slippage to make the program more resistant to whales and manipulation.
V3 bond scenario:
- Bob sends $1,000 through the bond contract
- $1,000 worth of SPARTA is minted (at swap price)
- ~$2,000 worth of assets get locked into the SPARTA:BNB pool
- 0% goes to Bob straight away
- 100% is vested to Bob over 12 months (can claim as often as he likes; it is calculated every second just like the harvest feature)
Please see the below article for a more in-depth look at Bond+Mint V1 through to the current V3:
Closing of the Burn For SPARTA Contract IMMINENT
The ‘Burn’ phase will soon be closed off with the remaining token distribution allocation being shifted to the ‘bond’ program (Roughly ~45M of 100M SPARTA)
SpartanPools — DApp User Interface
The Spartan community UI contributors had a quieter week this week, closing off 12 GitHub issues/features on the SpartanPools repo.
Issue #298 closed:
- Users can now interact with the swap interface even if they have 0 balance of the relevant token. Helpful for users who want to emulate a swap and see the fees/rate etc before moving funds to their web3 wallet.
Issue #294 closed:
- BNB/gas check modal bug fixed. Changed the calc to use the amount that is used in the .send() function.
Issue #249 closed:
- Quick revamp of add liquidity page to make everything more compact and mobile friendly
Issue #303 closed:
- ‘Staking’ wording removed from asymm-add warning. Important to make sure we do not use the term ‘staking’ when talking about adding liquidity to the pools.
Issues #182, #257 & #302 closed:
- All pending ‘percent button’ & ‘percent slider’ issues/suggestions closed/fixed/added.
- Fixed the number formatting & calc issues
- Added a check to clear the manual input onChange of percent slider/buttons
Issue #307 closed:
- Changed the bond component slightly; added ‘input’ amount to make it clear how much of the token is being sent to the contract
- Swapped from ‘percent buttons’ to the ‘percent slider’
- Updated ‘percent slider’ interface with 10% increment/decrement buttons and a clearer ‘manual input’
Issue #313 closed:
- Added blacklisting array to the pools table to prevent certain pools from showing up in the DApp
- Only reason for this currently is to hide the ‘Recovery’ token/pool that was used to recover the remaining Bond v1 allocation so that users don’t mistakenly swap within the pool for a zero-value token
SpartanSwap — DApp User Interface
There was no activity in the ‘SpartanSwap’ repo this week. Focus will shift here probably following Bond+Mint & DAO activation.
In the meantime, any community members with some interest and spare time feel free to load up the GitHub and get involved with either developing or adding issues/suggestions.
Next Milestone / Sprint
Bond+Mint V3 — new features opened up with a proper allocation to begin completing token distribution. — Now Live, more allocations to follow
BurnForSparta — The remaining allocations for the BurnForSparta program will be CLOSED and moved to the new Bond+Mint program. — Imminent
DAO — Enabling the DAO. With token distribution winding back up and most of the base-level features now coming to mainnet, it seems like a good time to enable the DAO. Bond+Mint V3 now has a feature for the DAO to vote to enable other tokens for the Bond program.
SpartanSwap — The ‘UniSwap’ style interface making use of the ROUTER smart contract features; swap from one non-SPARTA asset to another non-SPARTA asset.
SpartaSynths — Synthetic assets, lending etc. This is the big feature that most are waiting for, however we must be patient and establish a strong base with deep pools and wide token distribution before this can work in a big way.
Road Map
Community Contribution
SpartanProtocol at is at its core a community driven and led project. In this vein the more contributors the better, there is a great opportunity for community members to contribute by making LP reward analysis tools etc.
If you have an idea share it in the community channels.
Engage with the community and developers
What to find out all the latest updates or suggest improvements — get involved.
- Github: https://github.com/spartan-protocol
- Medium: https://medium.com/spartanprotocol
- Twitter: https://twitter.com/spartanprotocol
- Telegram Community: https://t.me/spartanprotocolorg
- Telegram Announcements: https://t.me/spartanprotocolann
