DeFi Farm Contract Paused After 34 Days of Yielding!?!
I’ve seen some significant screw ups on DeFi launches in the past. Most devs got nervous, didn’t know how to handle the situation, and then disappeared altogether. A couple of these launch screw ups rugged trusting souls, but others gave back the token value to participants in order to maintain their credibility in the DeFi space. When I woke up yesterday morning to check in on my farm, I was shocked to see all of the contracts had been paused and I could no longer even see my staked PIGS or ...
Christie’s to Auction Off 9 CryptoPunks for an estimated $7–9 Million Tonight
The 255-year-old auction house is set to sell this set of nine of these popular NFTs at 8 PM EST tonight, as part of their 21st Century Evening Sale. It is estimated by Christie’s that these will sell for a record-breaking sum of between $7 million and $9 million.
The Reasonable Case for Bitcoin
As an economist as well as online entrepreneur and investor who specializes in exotic assets such as domain names and cryptocurrencies (I run the One Minute Economics YouTube channel), I feel I’m in a reasonably good position to write a no-bs book which puts Bitcoin under the microscope. Why? Simply because I am able to put a compelling combination between book and street smarts on the table. With my career hopefully speaking for itself in that respect. From writing a Wall Street Journal as w...
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DeFi Farm Contract Paused After 34 Days of Yielding!?!
I’ve seen some significant screw ups on DeFi launches in the past. Most devs got nervous, didn’t know how to handle the situation, and then disappeared altogether. A couple of these launch screw ups rugged trusting souls, but others gave back the token value to participants in order to maintain their credibility in the DeFi space. When I woke up yesterday morning to check in on my farm, I was shocked to see all of the contracts had been paused and I could no longer even see my staked PIGS or ...
Christie’s to Auction Off 9 CryptoPunks for an estimated $7–9 Million Tonight
The 255-year-old auction house is set to sell this set of nine of these popular NFTs at 8 PM EST tonight, as part of their 21st Century Evening Sale. It is estimated by Christie’s that these will sell for a record-breaking sum of between $7 million and $9 million.
The Reasonable Case for Bitcoin
As an economist as well as online entrepreneur and investor who specializes in exotic assets such as domain names and cryptocurrencies (I run the One Minute Economics YouTube channel), I feel I’m in a reasonably good position to write a no-bs book which puts Bitcoin under the microscope. Why? Simply because I am able to put a compelling combination between book and street smarts on the table. With my career hopefully speaking for itself in that respect. From writing a Wall Street Journal as w...
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What is MyTrade’s Unique NFT Level System?
How to get an NFT Level on MyTrade?
LPs or Traders can receive NFT Level if they use MyTrade before V2 launches.
Only one NFT Level can be obtained per account. This will be determined by the highest corresponding NFT Level achieved among either the LP role or Trader role. (For Example: User uses MyTrade as both a LP and a Trader. He achieves NFT Level 3 with his LP activities, but only Level 2 with his Trading activities. His NFT Level is the higher of the two. He has NFT Level 3.)
(1) — Liquidity Providers
Average Daily Staked Amount: During V1 period, we will take the highest 30 days liquidity you staked to calculate your average daily staked amount. The amount is the number of LP tokens multiplied by the price. The price of the LP tokens will be taken at the end of the event, which is the day that V2 launches.
For example: HT/USDT liquidity pool — the change in the number of LP tokens during a 50-day event for a user is as follows:
The system will select the highest 30-day staked LP token. From the figure, it can be seen that the number of LP tokens is the highest from day 7 to day 34 (28 days in total), which is 100+200–150–150+400 = 400 LP tokens.
Followed by the 3rd and 4th day, the quantity is 100+200 = 300 LP tokens.
The average daily staked LP tokens for 30 days: (400 28 days + 300 2 days) / 30 days = 393.33
At the end of the event, assume that the price of HT is 20USD and USDT is 1USD, and also assume that 1 LP token = 1 HT + 20 USDT;
The dollar value of 1 LP token is: 1 20USD + 20 1USD = 40USD
The average daily staked amount = 393.33*40 = 15733.2USD, corresponding to Level 3 NFT obtained.
(2) — Traders
Taker: Trades that are executed immediately after placing orders. All market orders are consider Takers; limit orders that are immediately executed are also considered Takers.
Cumulative trading volume: The higher your Total Taker trading volume, the higher your corresponding NFT Level. This will be determined by your Total Taker trading volume between April 20 — Launch of V2.
NFT Holder Rights
Additional income from staking
For example:
Assume that the daily trading volume is 10,000 USD, the trading fees for additional income of 0.05% dividend is equal to 5 USD.
Also, assume that there are only 2 users holding NFTs in the current staking pool, the NFT level of user A is 1, and the NFT level of user B is 5. In the case that each have staked 1000USD, as per the chart above, the weight of User A is 1, and the weight of User B is 16. The additional annualized income of A and B is calculated below:
Additional Income for User A = 1 (Weight) 5 (Dividend) 1000 (Amount Staked) / (10001 + 100016) = 0.294USD
User A Additional Annualized Return = 0.294 / 1000 365 days 100%=10.74%
User B Income = 16 (weight) 5 (Dividend) 1000 (Amount Staked) / (10001 + 100016) = 4.706USD
User B Additional Annualized Return=4.706 / 1000 365 days 100%=171.76%
IFO Extra Weight Bonus
For example:
Assume that an IFO project is selling 10,000 USD worth of project tokens, and there are currently 3 users (A,B,C) who participate in the IFO. The 3 users each invested 100,000 USD worth of LP tokens (30 times oversold). Assume that User A does not hold NFT, User B holds Level 1 NFT, and User C holds Level 3 NFT. According to the table, the weight of User A is 1, the weight of User B is 1.05, and the weight of User C is 8. Calculate the IFO committed quota for each user:
User A’s committed quota = 10,000 1 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 995 USD
What is MyTrade’s Unique NFT Level System?
How to get an NFT Level on MyTrade?
LPs or Traders can receive NFT Level if they use MyTrade before V2 launches.
Only one NFT Level can be obtained per account. This will be determined by the highest corresponding NFT Level achieved among either the LP role or Trader role. (For Example: User uses MyTrade as both a LP and a Trader. He achieves NFT Level 3 with his LP activities, but only Level 2 with his Trading activities. His NFT Level is the higher of the two. He has NFT Level 3.)
(1) — Liquidity Providers
Average Daily Staked Amount: During V1 period, we will take the highest 30 days liquidity you staked to calculate your average daily staked amount. The amount is the number of LP tokens multiplied by the price. The price of the LP tokens will be taken at the end of the event, which is the day that V2 launches.
For example: HT/USDT liquidity pool — the change in the number of LP tokens during a 50-day event for a user is as follows:
The system will select the highest 30-day staked LP token. From the figure, it can be seen that the number of LP tokens is the highest from day 7 to day 34 (28 days in total), which is 100+200–150–150+400 = 400 LP tokens.
Followed by the 3rd and 4th day, the quantity is 100+200 = 300 LP tokens.
The average daily staked LP tokens for 30 days: (400 28 days + 300 2 days) / 30 days = 393.33
At the end of the event, assume that the price of HT is 20USD and USDT is 1USD, and also assume that 1 LP token = 1 HT + 20 USDT;
The dollar value of 1 LP token is: 1 20USD + 20 1USD = 40USD
The average daily staked amount = 393.33*40 = 15733.2USD, corresponding to Level 3 NFT obtained.
(2) — Traders
Taker: Trades that are executed immediately after placing orders. All market orders are consider Takers; limit orders that are immediately executed are also considered Takers.
Cumulative trading volume: The higher your Total Taker trading volume, the higher your corresponding NFT Level. This will be determined by your Total Taker trading volume between April 20 — Launch of V2.
NFT Holder Rights
Additional income from staking
For example:
Assume that the daily trading volume is 10,000 USD, the trading fees for additional income of 0.05% dividend is equal to 5 USD.
Also, assume that there are only 2 users holding NFTs in the current staking pool, the NFT level of user A is 1, and the NFT level of user B is 5. In the case that each have staked 1000USD, as per the chart above, the weight of User A is 1, and the weight of User B is 16. The additional annualized income of A and B is calculated below:
Additional Income for User A = 1 (Weight) 5 (Dividend) 1000 (Amount Staked) / (10001 + 100016) = 0.294USD
User A Additional Annualized Return = 0.294 / 1000 365 days 100%=10.74%
User B Income = 16 (weight) 5 (Dividend) 1000 (Amount Staked) / (10001 + 100016) = 4.706USD
User B Additional Annualized Return=4.706 / 1000 365 days 100%=171.76%
IFO Extra Weight Bonus
For example:
Assume that an IFO project is selling 10,000 USD worth of project tokens, and there are currently 3 users (A,B,C) who participate in the IFO. The 3 users each invested 100,000 USD worth of LP tokens (30 times oversold). Assume that User A does not hold NFT, User B holds Level 1 NFT, and User C holds Level 3 NFT. According to the table, the weight of User A is 1, the weight of User B is 1.05, and the weight of User C is 8. Calculate the IFO committed quota for each user:
User A’s committed quota = 10,000 1 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 995 USD
User B’s committed quota = 10,000 1.05 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 1044.8 USD
User C’s committed quota = 10,000 8 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 7960.2 USD
The excess invested LP tokens are returned to the user’s wallet in the same way. User A returns 99005USD of equivalent LP token, User B returns 98955.2USD of equivalent LP token, and User C returns 92039.8USD of equivalent LP token.
NFT holders will receive Platform Token Airdrop
When MyTrade V2 goes online, NFT holders can claim platform token airdrops.
Additional Easy Airdrop Bounty
Become a Maker (0 trading fees) by placing a limit order of 100 USD on the order book that get taken by a Taker and you will be rewarded with 50 platform tokens per account.
Special Notes:
(1) NFTs and platform tokens will be issued on MyTrade V2 in June;
(2) Only one NFT Level can be obtained per account, subject to the highest corresponding level among the airdrop targeted audience;
(3) If an account uses HECO and MyTrade V1 on the HPB network at the same time, the sum of the relevant data on both networks will be added together to calculate rewards.
(4) New benefits will be continuously launched in the future to give back to the NFT holders.
User B’s committed quota = 10,000 1.05 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 1044.8 USD
User C’s committed quota = 10,000 8 100,000 / (100,000 1 + 100,000 1.05 + 100,000 * 8) = 7960.2 USD
The excess invested LP tokens are returned to the user’s wallet in the same way. User A returns 99005USD of equivalent LP token, User B returns 98955.2USD of equivalent LP token, and User C returns 92039.8USD of equivalent LP token.
NFT holders will receive Platform Token Airdrop
When MyTrade V2 goes online, NFT holders can claim platform token airdrops.
Additional Easy Airdrop Bounty
Become a Maker (0 trading fees) by placing a limit order of 100 USD on the order book that get taken by a Taker and you will be rewarded with 50 platform tokens per account.
Special Notes:
(1) NFTs and platform tokens will be issued on MyTrade V2 in June;
(2) Only one NFT Level can be obtained per account, subject to the highest corresponding level among the airdrop targeted audience;
(3) If an account uses HECO and MyTrade V1 on the HPB network at the same time, the sum of the relevant data on both networks will be added together to calculate rewards.
(4) New benefits will be continuously launched in the future to give back to the NFT holders.
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