TOASTfi
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TOASTfi

Dev Update on Stacks Launch & Avocado Toast

More details about Stacks and Avocado Toast Launch

The Stacks protocol has been live now for week. The protocol allows the deployment of new Stack Tokens which represent a basket of underlying assets. When tokens are minted in a Stack using BNB, the following occurs:

The Stack protocol IS INFACT LIVE.

  1. The protocol swaps the BNB for WBNB
  2. The protocol swaps/purchases all of the underlying tokens in the Stack proportionate to the contributed BNB
  3. The protocol sends the newly purchased tokens to the Stack contract (vault)
  4. The Stack contract (vault) releases the tokens to the user
Transcript from a Stack Mint process (for TestToast — made up of Cake & Toast)

Once the underlying tokens are deposited into the Stack Smart Contract (Vault), the TVL and Price of the Stack is adjusted and the tokens representing the Stack are sent to the user.

Once the underlying tokens are deposited into the Stack Smart Contract (Vault), the TVL and Price of the Stack is adjusted and the tokens representing the Stack are sent to the user.

Moving Forward

That will not stop the release of Stacks. Stacks is a powerful protocol and feature set for the Toast Ecosystem. Moving forward:

To be clear Avocado Toast WILL GO LIVE, we simply must test to ensure deflationary tokens can’t enable an attack.

Minting testTOAST.

The Stack protocol is INFACT LIVE! We mentioned on discord that we hit a few roadblocks with deflationary token support. For those who want to experience Stacks, you can head to the Toast site and mint the testTOAST today (which is simply CAKE and TOAST).

Introducing Popular Tokens in Stacks

Avocado Toast is designed for the Toast ecosystem specifically. The Stacks protocol is capable of bootstrapping pools for ANY basket of tokens. With demand for metaverse, top 10 chains, leading Defi networks and more, Stacks creates a unique position we’re we can release new Stacks upwards of every 24 hours. These new Stacks will drive token value for the ecosystem as well as protocol fees.

Generating Value & Revenue with Network Effects

Stacks allow existing projects to introduce their tokens, partnerships, and networks to collaborations of many kinds. The Toast ecosystem benefits from fees and overall token value (as Toast native tokens are included in all Stacks as a requisite).

Creating High Profile Exposure with DEX Partners

Today, when a Stack in minted the router (which purchases the underlying tokens) exclusively uses PancakeSwap. With enough volume, Toast can tap another DEX to replace PancakeSwap. It’s a win for that DEX as all of the buying/selling volume would be routed through that partner giving them TVL and fees. A DEX partnership that is the right size and fit would significantly help with awareness, HODLers, community and more.

With business development bunny Chef Taro now on board at PancakeSwap, they are now actively on the hunt for new projects to launch on PancakeSwap. (In the event of this, we would create a network Token LP’d with Avocado Toast)

If we have what it takes, we can apply

Continued Testing to support Deflationary Tokens

To be clear Avocado Toast WILL GO LIVE, we simply must test to ensure deflationary tokens can’t enable an attack.

What’s important is that in this minting process, 100% of the underlying tokens expected are in the vault before the Stack Tokens are sent to the user. When a token has a reflection/tax feature, issues arise as the full amount of tokens expected never arrive — typically 8–10% tax is taken resulting in only ~90% of the tokens that should be there.

Arbitrageur Interface Support

We will make it easier for Arb traders to easily tap into the benefits in a simple interface. More details on this post Avocado Toast Release.

..

While we would love to make changes and rapidly release Avocado Toast, we know configuring the deflationary tokens to function properly takes time to ensure it’s done right and is risk tested. We would like to target as early as Monday, Oct 4. We will share updates as we make headway.

Key Links:

More Details on Avocado Toast

More on How Stacks Work

We are still in the initial phase of the project and are very excited for what is ahead.

Don’t forget, we’re saying bye to Telegram and Hello to discord. Learn more from our recent security update here: https://medium.com/toastfi/security-update-farms-v1-community-telegram-why-audits-are-bad-5ca787932ab5

We don’t fold, we HODL! 💛

Website: http://www.toastfinance.com
Follow us on Twitter: https://twitter.com/toastswap
Technical Details: https://docs.toastfinance.com/
Discord: https://discord.gg/t6jErcvhC5

Remember, we will NEVER send private messages.
We don’t believe in DMs and will never send you a DM first.
We do not have technical support team.

We don’t fold, we HODL!!

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