Update Jan 2021: Swap Analytics & Arb contract
The Oikos team is constantly working to improve and maintain the stability of our platform. This entails carrying on tasks that range from development to financial analysis, to writing informative content and managing social network communities. It isn’t an easy accomplishment for a small group of people, nevertheless, we are trying our best to deliver our users the best experience. In hindsight, the past year has been great for Oikos, which went from conception to being a real-world financial system, used by thousands of users. Cryptocurrency markets, in general, have been positive, with major coins marking new records and we have seen the launch of several innovative companies, proposing innovations in areas such as DeFi and Blockchain 3.0 (Polkadot). Additionally, the value locked in DeFi contracts is now in the billions of dollars.
LP Mining & Arbitraging incentives
Liquidity Mining and reward systems have set new trends and they are becoming the building blocks of the new financial system, providing users ways to earn income by staking their coins in trustless smart contracts. Oikos offers several features that allow our users to engage with such activities: Adding liquidity to Oikos Swap enables users to earn a percentage of the fees generated by the exchange transactions, and extra rewards are paid on synth pools that are important for the stability of our system.
Synths traded on the Oikos platform are tied to cryptocurrency's price and should maintain a stable ratio with their real-world value; Liquidity is one of the factors that contribute to the stability of asset pegs. For this reason, the liquidity pools on Oikos Swap for sTRX, sETH, USD and USDT pairs are rewarded with a percentage of tokens from the weekly inflationary supply.
Today we are excited to launch an arbitraging contract as a further incentive mechanism to stabilize the Synth to real-world asset value of sTRX on Oikos Swap. If the sTRX/TRX rate on Oikos Swap falls below 99/100, people can send use the arbitraging contract to convert TRX to OKS at a discounted rate. Here is how it works:
- Allows a user to send TRX to the contract if:
a) the sTRX/TRX ratio is below 99/100, &
b) there is enough OKS in the contract at the current exchange rate
- Converts the TRX to sTRX via Oikos Swap until it reaches the 99/100 ratio or until the TRX is exhausted
- Converts the sTRX to OKS at the current exchange rate
- Sends the OKS to the wallet that sent the TRX
Users can interact with the contract by using the user interface on Oikos Minter.
At least 10% of the weekly OKS rewards will be added to the contract. In the first year of this monetary policy, this equates to 140,000 OKS weekly.
We will add extra rewards to the contract as needed.
Having successfully integrated graph-node with the Tron network, we are now able to offer a working version of Uniswap’s popular open-source analytics website for our Oikos Swap platform. Try it out live!
Besides being actively developing the platform and adding new features, we are also in talks with several exchanges to increase the market reach of OKS and our main synths. Exciting news is coming soon so stay tuned!