Dear Yummy community,
Since the inception of Yummy V2 the hyper deflationary aspect was always one of our top strengths and the buybacks and burns were a daily occurrence.
Unfortunately, since the market dropped, the LP farming yields we used through our Growth Fund weren’t sufficient enough to provide both staking rewards and burns. Therefore, the burns aspect of the Yummy plan came to a halt. Since then, the team has been looking at ways to implement a burn mechanism through our staking platform.
So, with that said, it is our absolute pleasure to officially present the newest mechanic in our Gladiator Up-Down pools 🎉
Gladiator Burns 🔥
Moving forward, the team will seed all Gladiator pools instead of providing direct rewards. How will the seeding work?
- Once a pool is created the yields will be adjusted from the very first block to reflect a MINIMUM of 1 billion on both the Up and Down pool. The seeding is done to encourage people to join the pool as soon as possible as to collect higher yields from the initial hours/days.
- At the end of day 2 (ie around remaining block 86,400) the team will inject whatever amount of Yummy tokens are needed to bring the pools up to 1B on both UP-DOWN. Example: Up pool has 357M and down pool has 486M. Team will add 643M to UP pool and 514M to Down pool making it 1B total staked on each.
- The seeding is done at day 2 to ensure the team stake does not collect any of the higher initial reward yield, while ensuring pool participants will get the full 9% contribution from the team staking. Again, this is to high pool activity as soon as it opens as those stake first are simply guaranteed a minimum prize pot of 1B equivalent staking.
- If at the end of Day 2 the amount is already higher than 1B then the team will add enough tokens to bring it up to the next billion if the amount is lower than 500M. Example: Up pool ends up day 2 with 1.2B staked and Down pool with 1.65B staked. Team adds nothing to pool Up and adds 350M to Down pool. Why doing this? It encourages the scenario that goes “against the grain” while ensuring the “along the grain” pool still gets the same number of rewards they would otherwise. It adds another dimension to the risk profile. If both pools are above 1.5B then both pools would get an injection to make it 2B each. Of course, the same happens at 2B, 3B, 4B, etc
- Then from each pool we will take 5% of the reward prize as Burn collection. For example, if you have a total staked amount across Up-Down of 5B then we would take 5*0.09*0.05 = 22.5M to be burned. We will adjust this fee as needed and remember this applied to every pool, so it won’t take much participation to have this fee grow up substantially and all pools are on a weekly basis.
- We aim to introduce an Absolute Burn address shortly. This address is created to let people easily know that any token that lands on the Absolute Burn will 100% be sent to the Burn address. Not to the 240B, not as tax free sells or as staking rewards, it will just be burned.
To go directly to the staking platform click this LINK.
If you need help using our Staking Platform or have any questions about the ”Gladiator Pools” please visit the Yummy Telegram and ask the admins. 👍🏼
Enjoy the excitement of the Yummy Gladiator Pools and lets get that total supply under 400 billion! 🔥🔥
Stay tuned for more updates.
Disclaimer: Gladiator Pools come with a higher risk of losses due to their gaming nature. The Yummy team members, management, owners and the overall project are not responsible for any losses incurred. Please understand and read all rules before entering a gladiator pool. It is up to the individual investor to manage their investment and risk. Please play responsibly.
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