Optimizing the Upool Contract and Launching the UCON Reserve Fund.
12 Jun 2023, 05:18
Optimizing the Upool Contract and Launching the UCON Reserve Fund
After more than 70 days since the launch of the BNB chain YouCoin Upool V1, we have received valuable feedback from the community. Upon analyzing the chain's data, we discovered that the originally designed automatic market-making model, which involved a 6% repurchase of UCON when staked in the non-migrating pool (ETH Pool), did not achieve the desired outcome. Upon closer examination, we identified the robotic arbitrage contract on the chain as the main obstacle, as it prevented real empowerment of funds for UCON's automatic market making. While the technical logic behind this issue is complex, we won't delve into it here. Although we have technical solutions that can likely circumvent bot arbitrage, we believe it's not yet the right time to implement them. Instead, we have a better solution to present.
After carefully considering both the market conditions and technological aspects, and taking into account the feedback and suggestions from community members, we have decided to introduce the UCON Reserve Fund. This fund will be entirely managed by the community SuperDAO.
The UCON Reserve Fund is directly linked to ETH and UCON and serves as an automatic market-making fund for UCON during the next bull market. SuperDAO will opportunistically initiate and manage the fund through proposals. It operates solely through smart contract triggers, and the only use of the market-making funds in the contract is for repurchasing UCON, which can only be directly burned. This ensures not only high security and community control but also provides a consistent source of power for UCON market making.
The UCON Reserve Fund is sourced from various contributions, including:
V1's "1% UCON burn from repurchases"
V1's "2% repurchase of UCON into the SuperDAO dividend pool"
V1's "3% UCON repurchases flow into the bonus pool"
V2's "1% UCON buyback and burn"
V2's "3% auto-redeem UCON into V1+V2 bonus pool"
V2's "5% repurchase of UCON into the current V1 account"
The UCON tokens obtained through the Pancakeswap exchange have now been substituted with the output from the issuing contract, reflecting the current market price.
Key details regarding the contract optimization process are as follows:
The optimization process will involve Upool V1 and Upool V2 contracts.
The optimization period is scheduled from 14/6/2023 to 16/6/2023.
Once the optimization is completed, the smart contract for the UCON Reserve Fund will be generated, and its address will be displayed in the dApp's frontend.
The UCON/USDT liquidity will naturally increase over time, influenced by market conditions and the subsequent launch of Ufarm.
Same news in other sources
212 Jun 2023, 05:50
Optimizing the Upool Contract and Launching the UCON Reserve Fund
After more than 70 days since the launch of the BNB chain YouCoin Upool V1, we have received valuable feedback from the community. Upon analyzing the chain's data, we discovered that the originally designed automatic market-making model, which involved a 6% repurchase of UCON when staked in the non-migrating pool (ETH Pool), did not achieve the desired outcome. Upon closer examination, we identified the robotic arbitrage contract on the chain as the main obstacle, as it prevented real empowerment of funds for UCON's automatic market making. While the technical logic behind this issue is complex, we won't delve into it here. Although we have technical solutions that can likely circumvent bot arbitrage, we believe it's not yet the right time to implement them. Instead, we have a better solution to present.
After carefully considering both the market conditions and technological aspects, and taking into account the feedback and suggestions from community members, we have decided to introduce the UCON Reserve Fund. This fund will be entirely managed by the community SuperDAO.
The UCON Reserve Fund is directly linked to ETH and UCON and serves as an automatic market-making fund for UCON during the next bull market. SuperDAO will opportunistically initiate and manage the fund through proposals. It operates solely through smart contract triggers, and the only use of the market-making funds in the contract is for repurchasing UCON, which can only be directly burned. This ensures not only high security and community control but also provides a consistent source of power for UCON market making.
The UCON Reserve Fund is sourced from various contributions, including:
V1's "1% UCON burn from repurchases"
V1's "2% repurchase of UCON into the SuperDAO dividend pool"
V1's "3% UCON repurchases flow into the bonus pool"
V2's "1% UCON buyback and burn"
V2's "3% auto-redeem UCON into V1+V2 bonus pool"
V2's "5% repurchase of UCON into the current V1 account"
The UCON tokens obtained through the Pancakeswap exchange have now been substituted with the output from the issuing contract, reflecting the current market price.
Key details regarding the contract optimization process are as follows:
The optimization process will involve Upool V1 and Upool V2 contracts.
The optimization period is scheduled from 14/6/2023 to 16/6/2023.
Once the optimization is completed, the smart contract for the UCON Reserve Fund will be generated, and its address will be displayed in the dApp's frontend.
The UCON/USDT liquidity will naturally increase over time, influenced by market conditions and the subsequent launch of Ufarm.
Optimizing the Upool Contract and Launching the UCON Reserve Fund.
Optimizing the Upool Contract and Launching the UCON Reserve Fund
After more than 70 days since the launch of the BNB chain YouCoin Upool V1, we have received valuable feedback from the community. Upon analyzing the chain's data, we discovered that the originally designed automatic market-making model, which involved a 6% repurchase of UCON when staked in the non-migrating pool (ETH Pool), did not achieve the desired outcome. Upon closer examination, we identified the robotic arbitrage contract on the chain as the main obstacle, as it prevented real empowerment of funds for UCON's automatic market making. While the technical logic behind this issue is complex, we won't delve into it here. Although we have technical solutions that can likely circumvent bot arbitrage, we believe it's not yet the right time to implement them. Instead, we have a better solution to present.
After carefully considering both the market conditions and technological aspects, and taking into account the feedback and suggestions from community members, we have decided to introduce the UCON Reserve Fund. This fund will be entirely managed by the community SuperDAO.
The UCON Reserve Fund is directly linked to ETH and UCON and serves as an automatic market-making fund for UCON during the next bull market. SuperDAO will opportunistically initiate and manage the fund through proposals. It operates solely through smart contract triggers, and the only use of the market-making funds in the contract is for repurchasing UCON, which can only be directly burned. This ensures not only high security and community control but also provides a consistent source of power for UCON market making.
The UCON Reserve Fund is sourced from various contributions, including:
V1's "1% UCON burn from repurchases"
V1's "2% repurchase of UCON into the SuperDAO dividend pool"
V1's "3% UCON repurchases flow into the bonus pool"
V2's "1% UCON buyback and burn"
V2's "3% auto-redeem UCON into V1+V2 bonus pool"
V2's "5% repurchase of UCON into the current V1 account"
The UCON tokens obtained through the Pancakeswap exchange have now been substituted with the output from the issuing contract, reflecting the current market price.
Key details regarding the contract optimization process are as follows:
The optimization process will involve Upool V1 and Upool V2 contracts.
The optimization period is scheduled from 14/6/2023 to 16/6/2023.
Once the optimization is completed, the smart contract for the UCON Reserve Fund will be generated, and its address will be displayed in the dApp's frontend.
The UCON/USDT liquidity will naturally increase over time, influenced by market conditions and the subsequent launch of Ufarm.
http://twitter.com/YouCoinOnline/status/1668125904352968705
12 Jun 2023, 05:50
Optimizing the Upool Contract and Launching the UCON Reserve Fund
After more than 70 days since the launch of the BNB chain YouCoin Upool V1, we have received valuable feedback from the community. Upon analyzing the chain's data, we discovered that the originally designed automatic market-making model, which involved a 6% repurchase of UCON when staked in the non-migrating pool (ETH Pool), did not achieve the desired outcome. Upon closer examination, we identified the robotic arbitrage contract on the chain as the main obstacle, as it prevented real empowerment of funds for UCON's automatic market making. While the technical logic behind this issue is complex, we won't delve into it here. Although we have technical solutions that can likely circumvent bot arbitrage, we believe it's not yet the right time to implement them. Instead, we have a better solution to present.
After carefully considering both the market conditions and technological aspects, and taking into account the feedback and suggestions from community members, we have decided to introduce the UCON Reserve Fund. This fund will be entirely managed by the community SuperDAO.
The UCON Reserve Fund is directly linked to ETH and UCON and serves as an automatic market-making fund for UCON during the next bull market. SuperDAO will opportunistically initiate and manage the fund through proposals. It operates solely through smart contract triggers, and the only use of the market-making funds in the contract is for repurchasing UCON, which can only be directly burned. This ensures not only high security and community control but also provides a consistent source of power for UCON market making.
The UCON Reserve Fund is sourced from various contributions, including:
V1's "1% UCON burn from repurchases"
V1's "2% repurchase of UCON into the SuperDAO dividend pool"
V1's "3% UCON repurchases flow into the bonus pool"
V2's "1% UCON buyback and burn"
V2's "3% auto-redeem UCON into V1+V2 bonus pool"
V2's "5% repurchase of UCON into the current V1 account"
The UCON tokens obtained through the Pancakeswap exchange have now been substituted with the output from the issuing contract, reflecting the current market price.
Key details regarding the contract optimization process are as follows:
The optimization process will involve Upool V1 and Upool V2 contracts.
The optimization period is scheduled from 14/6/2023 to 16/6/2023.
Once the optimization is completed, the smart contract for the UCON Reserve Fund will be generated, and its address will be displayed in the dApp's frontend.
The UCON/USDT liquidity will naturally increase over time, influenced by market conditions and the subsequent launch of Ufarm.
Optimizing the Upool Contract and Launching the UCON Reserve Fund.
Optimizing the Upool Contract and Launching the UCON Reserve Fund
After more than 70 days since the launch of the BNB chain YouCoin Upool V1, we have received valuable feedback from the community. Upon analyzing the chain's data, we discovered that the originally designed automatic market-making model, which involved a 6% repurchase of UCON when staked in the non-migrating pool (ETH Pool), did not achieve the desired outcome. Upon closer examination, we identified the robotic arbitrage contract on the chain as the main obstacle, as it prevented real empowerment of funds for UCON's automatic market making. While the technical logic behind this issue is complex, we won't delve into it here. Although we have technical solutions that can likely circumvent bot arbitrage, we believe it's not yet the right time to implement them. Instead, we have a better solution to present.
After carefully considering both the market conditions and technological aspects, and taking into account the feedback and suggestions from community members, we have decided to introduce the UCON Reserve Fund. This fund will be entirely managed by the community SuperDAO.
The UCON Reserve Fund is directly linked to ETH and UCON and serves as an automatic market-making fund for UCON during the next bull market. SuperDAO will opportunistically initiate and manage the fund through proposals. It operates solely through smart contract triggers, and the only use of the market-making funds in the contract is for repurchasing UCON, which can only be directly burned. This ensures not only high security and community control but also provides a consistent source of power for UCON market making.
The UCON Reserve Fund is sourced from various contributions, including:
V1's "1% UCON burn from repurchases"
V1's "2% repurchase of UCON into the SuperDAO dividend pool"
V1's "3% UCON repurchases flow into the bonus pool"
V2's "1% UCON buyback and burn"
V2's "3% auto-redeem UCON into V1+V2 bonus pool"
V2's "5% repurchase of UCON into the current V1 account"
The UCON tokens obtained through the Pancakeswap exchange have now been substituted with the output from the issuing contract, reflecting the current market price.
Key details regarding the contract optimization process are as follows:
The optimization process will involve Upool V1 and Upool V2 contracts.
The optimization period is scheduled from 14/6/2023 to 16/6/2023.
Once the optimization is completed, the smart contract for the UCON Reserve Fund will be generated, and its address will be displayed in the dApp's frontend.
The UCON/USDT liquidity will naturally increase over time, influenced by market conditions and the subsequent launch of Ufarm.
http://twitter.com/YouCoinOnline/status/1668125904352968705