WXBooster _ The First Project On Top Of Waves.Exchange

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What Is WXBooster, How Does It Work?

Please keep these things in mind when you’re making your very own decisions about WXBooster:

What is WXBooster?

WXBooster is supposed to work as a booster to increase the staking reward of Waves.Exchange LP Tokens for who chooses to stake them through WXBooster.

WXBooster is planned to run 403200 blocks(~280 days, ~40 rounds) and after that, it is planned that WXBooster will cease its existence. This may change because of various reasons.
This, ideally 403200 blocks running period is called “Phase 1”.

After Phase 1, WXBooster may have a Phase 2 if decided so. In that case, Phase 2 may have its own structure, token, strategy, fee, and conditions.

WXBooster Phase 1

  • Starts at block number 2994180(Phase 1 first block).
  • The target block number is 3397380(Phase 1 target block).
    • WXBooster is planned to be ended when all of the lp smart contracts’ last rounds(rounds started before the Phase 1 target block) are ended.
  • WXBooster runs with a round model where each round ideally lasts 10080 blocks(~7 days).
    • After 10080 blocks of running, the current round can be ended at any time by anyone.
    • Each lp smart contract has an independent schedule, and must be ended separately.
  • WXBooster has a different smart contract for each lp on Waves.Exchange. Each smart contract may have a different first block number, but all have the same target block number which is 3397380.
  • Having a different smart contract for each lp may result in a different ending block number for each lp smart contract.
  • Each WXBooster lp smart contract will be ended/concluded with the ending of the last round that is started before the target block.
  • When one of the WXBooster lp smart contracts is concluded, all the LP Tokens for that lp will be unstaked. Because of this, users are suggested to withdraw their LP Tokens as they won’t earn any reward through that contract anymore.
  • You can stake(before the Phase 1 target block is reached) and unstake your LP Tokens at any time as there is no locking mechanism.
  • Rewards will be available to be claimed after the end of each round.
  • You can claim your rewards for each lp and each round separately.
  • Your share is calculated based on your LP Token amount and the block you stake/unstake your LP Token.
  • After 10080 blocks of running, the current round can be ended at any time by anyone by calling the “end” function.
    • If the “end” function is not called at the end block number, your staking and unstaking activities will still affect your balance, but your share won’t change for the current round.
  • Your balance from the previous rounds will be accounted for the future rounds with all the other staking and unstaking activities.
    So, you don’t need to unstake and stake for each round.
  • WXBooster collects fee from LP Token staking rewards.
    While the fee is subject to change possibly without prior announcement, the fee cannot exceed 20% with the following ranges:
    • 10-15% for locking until the end of Phase 1
      • The planned block number for the locked fee to be unlocked is no earlier than block number 5499851.
      • Governance fee, governance rewards, and other possible rewards and revenues are not subject to this locking activity.
    • 0-5% for team.
  • The conditions of WXBooster are subject to change.
    Users who choose to use WXBooster are suggested to check the status and the conditions of WXBooster regularly.

lp = liquidity pool

LP Token = Liquidity Pool Token (https://waves.exchange/liquiditypools/faq#lpToken)

fee = fee that is collected from LP token staking rewards

WXBooster Diagram

https://i.imgur.com/oPOoZg3.png

  1. User stakes an LP Token on WXBooster.
  2. WXBooster stakes user’s LP Token on Waves.Exchange.
  3. LP Staking rewards are regularly claimed from Waves.Exchange. During the claiming process, WXBooster gets its fee.
  4. User can claim the WX and WXB Token rewards from WXBooster.

WXBooster Smart Contract Addresses:

3PE8KysWk7FYBkFx83RwSCfyQUaiAg8M9KQ
3P4ojtVYmnsAQYs8sgQZ9HjpZGBaByWNFkM
3PBDTqqbnqMbvM93Y7dzeSQs5o2qKksXkoS
3PLSRRuk1Uz98N2Vz9Tdq6DuVk6zcDUfrE5
3P4ohLRoRdcXG4n5wGXvT4MxaouzfT3bsDo
3PPF8URZjEByhzZK4DjPjAFHvSq2z1h4xBq
3PL9dN952HFUMXBoUktUQTQMYNXvsHMkBon

WXBooster consists of smart contracts, if the conditions are true there is no permission is needed for interaction with those.

No front-end required for interacting with WXBooster smart contracts.

But if anybody develops front-end it may be added front-end list in here:
https://wxbooster.com

Always check the smart contracts you’re interacting with!

EXAMPLE:

  • Round 7 starts at block number 100000, as each round lasts 10080 blocks, target block for round 7 is 110080.

  • “User A” already has 20 LP Token (it doesn’t have any decimal) staked that are accounted for from the earlier rounds.

    • “User A” already has 20*(110080-100000) = 201600 shares for round 7
      for the balance that is accounted for from the earlier rounds.
    • “User A” stakes 100 LP Token at block number 100100.
      • “User A” gets his share of 100*(110080-100100) = 998000 for that staking activity.
    • “User A” unstakes 10 LP Token at block number 100200
      • “User A” is affected share of 10*(110080-100200) = 98800 for that unstaking activity.
    • Now “User A” has 201600 + 998000 - 98800 = 1100800 share for round 7.
  • When the block number is 110080, round 7 can be ended(the “end” function must be called) at any time by anyone.

  • Before round 7 is ended “User A” stakes 10 LP Token at
    block number 110080. This won’t bring any share to “User A”. But the
    balance will be increased to 20 + 100 - 10 + 10 = 120 LP Token.

  • Before round 7 is ended “User A” unstakes 30 LP Token at block number 110081. This won’t cause any decrease in “User A” share for this round. But the balance will be decreased to 20 + 100 - 10 + 10 - 30 = 90 LP Token.

  • Whenever round 7 is ended, “User A” will be able to claim his rewards for round 7.

  • Let’s continue with the following hypothetical case:

    • The total share for the round is 1000000000.
    • The total WX(has 8 decimals) reward(after the fee) for round 7 is 122.32335535.
    • The total WXB Token(has 8 decimals) reward for round 7 is 100,000.00000000.
  • Round 7 WX reward calculation for “User A”: WX has 8 decimals, WXBooster will round this down to 0.13465354 WX.

    (1100800 * 122.32335535 / 1000000000) = 0.13465354956928
    
  • Round 7 WXB Token reward calculation for “User A”: WXB Token has 8 decimals, 110.08000000 WXB Token.

    (1100800 * 100000 / 1000000000) = 110.08
    

    WXB Token

    What is WXB Token about?

    WXB Token is a fun token, except that WXB token can be summed up for you with one word, nothing.
    Every token is about something, WXB Token is about nothing. It is expected to be worthless.

    Details of WXB Token are subject to change.

    What blockchain WXB Token is issued on?

    Waves.

    How many decimals WXB Token has?

    8 decimals.

    What is the asset id of WXB Token?

    HkYbq1oqnfBnicWwXBRJZCxjM85zAVsQMdHvpQbDCRBo

    Is WXB Token reissuable?

    No, it is not.

    Is WXB Token a governance token?

    No, it is not. There is no governance mechanism implemented in WXBooster.

    Does WXB Token ownership represent any right on WXBooster?

    No, it does not.

    Does WXB Token ownership represent any ownership of any value that WXBooster correlated?

    No, it does not.

    WXB Token Distribution

    Total amount = 100,000,000 WXB Token
    LP Token stakers = ~76,000,000 WXB Token
    Incentive = ~500,000 WXB Token
    Grant/Support = 6,500,000 WXB Token
    Other projects = 2,050,000 WXB Token (1,000,000 Waves.Exchange, 250,000(Vires.Finance), 250,000(Swop.Fi), 250,000(EnnoWallet),
    250,000(PuzzleSwap), 50,000(LNSBT))
    Team = 14,950,000 WXB Token

    • Other projects should inform the WXBooster team before block number 3034500 if they want to take their allocations, and their allocations will be sent to them after block number 3044580.
      • What those projects will do with their allocations is totally up to them. If they choose to distribute to their users they have the authority to do so.
      • If other projects(Waves.Exchange, Vires.Finance, Swop.Fi, EnnoWallet, PuzzleSwap, LNSBT) don’t demand to take their possible allocations, their allocations of WXB Token will be added to the Grant/Support allocation.
    • After the target block of Phase 1 is reached, the unused part of the Grant/Support allocation of WXB Token will be burned.
    • After the target block of Phase 1 is reached, the unused part of the Incentive allocation of WXB Token will be burned.
    • After the WXBooster Phase 1 lp smart contracts’ last rounds are ended, the undistributed part of the LP stakers allocation of WXB Token will be burned.
    • The team allocation will be unlocked gradually on a per-block basis throughout 403200 blocks (~280 days).
      • Unlocking will start at block number 3004260.
      • Unlocking will end at block number 3407460.
      • The team has the right of claiming their unlocked allocations at any time.

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