How long will this period be?
At least 1 month and likely up to 3 months, but the final period will have to be adjusted based on results.
Not entirely correct. What it actually means is that there will be a certain amount of rewards that will be distributed daily (561.6 ZNN and 1,250 QSR) and in the orbital contract there is an extra amount of rewards (250k ZNN and 600k QSR) out of which an optional amount can be distributed daily until it reaches zero.
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Is it accurate to then say during the first 1 to 3 months community members will be adding liquidity to the wZNN / ETH pair however NO trading will be allowed in that pair. We will spend that time adding liquidity and moving the LP tokens back to ZNN?
Do we need to make any changes to SYRIUS to allow for LP rewards of the LP Tokens? Or will we use the Staking function in SYRIUS that exists today?
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Swapping ETH/WETH to wZNN/wQSR and adding liquidity will be possible.
At the moment everything related to the bridge + liquidity UIs is implemented as Web Apps and it’s only possible to interact with the Web App using syrius extension, but as soon as Wallet Connect is integrated into syrius desktop, the UIs will be updated to work with syrius desktop as well.
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So we need a good video on how to install the Syrius Extension. I can help with that.
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@dexter703 would it be possible to submit the syrius wallet extension to the Chrome Web Store? That way we can avoid the step of downloading, extracting, putting chrome in dev mode, etc…
Got it. So does this means we cannot swap wZNN for ZNN and wQSR for QSR during the first 1 to 3 months?
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No, only swapping wZNN/wQSR to ETH/WETH will be limited during the campaign. Everything else will be possible:
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Got it. I see now
Does this make sense? Slippage is already a penalty for big sales right? Only allowing buying but not selling of wZNN/wQSR might give honeypot vibes?
edit: probably also being asked/answered already, but who will be the owner of the erc20 contract?
What are the conditions necessary for utilizing the additional rewards accruing within the Oribital Contract? Do we have a certain amount of ZNN/ETH that needs to be provided to trigger a daily multiplier- something akin to the wZNN liquidity program?
It’s only during the liquidity campaign and considering the potentially high incentives, without the limitation liquidity implosion is bound to happen.
Only the bridge contracts will have minting rights over the Wrapped ERC-20 tokens.
The daily rewards shared between liquidity providers will be 561.6 ZNN and 1,250 QSR, with a multiplier of 1X-12X for locking the LP tokens 1-12 months. During the campaign, extra rewards of up to 250,000 ZNN and up to 600,000 QSR will be dynamically adjusted based on campaign performance. A more detailed plan will be outlined by the time the campaign starts.
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If first provider brings 100k znn for liquidity program there will be no place for other people?
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now who would do that? Maybe we have a gentlemans agreement to avoid that?
Even if that would happen, every time someone swaps ETH/WETH to wZNN, the total wZNN in the pool will decrease and others will be able to join.
Okay I’ll provide 100k ZNN thanks
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I’ve submitted a PR with pprof, versioning and the cicd pipeline and it was merged in the orchestrator repo:
@sumamu thank you for merging my PR
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One more question about the first point, just being able to buy for the first month. Wouldn’t that trigger all kind of tokensniffers labeling it as a possible scam?
That shouldn’t be the case, since only 1 pool is restricted. Anyone could create a 2nd pool and use that to do whatever.
The bridge upgrade has been activated last week, so it’s going live soon. For that to happen, we’ve got some work to do as a community.
@0x3639 has a headstart with the audit, so we’re going have to pick up the pace and pick the initial guardians of the network.
What is the role of the guardians?
In case the admin is compromised, before any administrative actions can be taken, the admin has the possibility to remove itself as admin. If this happens, the bridge goes into emergency mode, where all activity is halted and restricted. At this point, the guardians are responsible to coordinate and set a new, uncompromised address for the admin.
Are the guardians permanent?
No, this is just the initial batch so the bridge can go live. The guardians can be changed by the admin at a later time if the timechallenge passes. In fact, the guardians should probably prove they still control their addresses and are still active in the community from time to time. If they don’t the stale guardians should be changed with other members of the community.
What must a guardian provide in order to become a guardian?
A valid NoM address, the associated ed25519 public key and a signed message to prove they actually own that address.
How should they be chosen?
After debating the issue of choosing the guardians a bit internally, we came up with the following aspects to take in consideration:
- technical skills
- ecosystem involvement
- availability
- decentralization/distribution
How do they vote?
The znn cli will be updated to provide a way for the guardians to cast votes. A new admin becomes active once it has 50%+1 votes.
In conclusion, we’re proposing 10 devs + 5 pillars as the initial guardians. Remember, they are not permanent:
mr kaine z1qpxswrfnlll355wrx868xh58j7e2gu2n2u5czv 0xb13857a4F3bc3b8AB205e06FD8b874692451ADc0
@Sigli z1qr7urykpjth3w9lcl66atgvu5fc0ywawzha220 0x671A0F784F4AfaCEC1701eA4B6Cc3FBB68a7ADE9
sumamu z1qphnq6jfaf82kmpyuuc88983ar66dmh7e59f67 0x7AA4fa384B0499111DcDa4638718d744cDD1195D
sumoshi z1qrgh8w9q3xj5a2t2atnt3reqhh0akm4qae8ezk 0x2F3410C62e1C2E4CEa3fB5Db1FAC196bfcAD54D7
nomkamoto z1qqeyp02thdets4k245fnnjpk764ls65gwsy0cg 0xbD0189C4a9a64B8ee82928D002a86bd5eb2A5Ef6
@georgezgeorgez z1qrawthjzd95hcz73r3e5wd0xxzjmrt4vfqla0z 0x456c5FCEA60dd5F4c1dcB485FA307A946E356456
@aliencoder z1qzup2zm6c9g68t085zjn5ycvdnr0u4pt0k4c80 0xE34FB7aadc91f0d95757125F9FB546712846feeB
@CryptoFish z1qzjnnpmnqp6uqz2m9uet8l5e42ewwaty2mqcpy 0xf2aA170dDe5319F03785C29f94f39510EE6345AA
@dexter703 z1qr6k9c0z73c2zx22grhcw702slyz0gelt2uwvd 0xc91edA9Ba70EB09f5cc450A4dFA57D43fB590C3F
@MoonBaZe z1qprccs7kjvx9q78m5v5ghwwfvxr6py8rtwcfrd 0xc752B223c87327A8A6e2CBE9D3A3E334F1a96fD3
vilkris z1qqcz0rmkz7f5442hjjr0thh2v6txu4875eyrkd 0x30800A10128820D518997EC22201Df0f5b873712
@mehowbrainz z1qzymmtmfr3gxz3fr80cq94rgaefzkvst4e90lz 0x061ACFb9F0151c3DB502d1320B70E1A894d25010
0x3639 z1qrztagl9rukq3ltdflnvg4zrvpfp84mydfejk9 0x559d33edB4bDE79A70bE70db77Bf27E7B86C5479
@shaimo z1qppk2p26xwwzu5w4zyzwknrx28whvjgy9ukc6h 0x76B9b17cce584de58668b574474939C9e6FbAdb3
Legend
user agreed to participate and address, public key, signature are available
address, public key, signature are available (onchain or offchain), waiting for user to agree
waiting for user to submit address, public key, signature and agree to be a guardian
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