Smart Mining V2: A high-yield fixed-term mining mode
Background
As one of the digital financial derivatives on SUN.io, mining provides crypto holders with stable, secure, and reliable services for subscription and redemption of investment products. Smart Mining V2, also known as fixed-term mining, is an important part of SUN.io's mining service. It converts a user's staked assets to virtual assets of a certain amount according to the amount of assets staked and the staking duration. The total virtual stake is defined as the total amount of virtual assets converted from all users' staked assets. Users are rewarded based on their virtual assets' proportion in the total virtual stake, and they are only allowed to redeem their assets during a specified period of time.
Explanation
Reward Distribution
Suppose the stake amount of a token is "amount". The token's lock-up duration Durationlock meets the following condition: Durationmin<=Durationlock<=Durationmax。 where Durationmax is 1080 days, Durationmin is 30 days, and the maximum acceleration rateweightmax is 1400% (magnifying by e12 times). The veToken is calculated in the following way:
Here,balanceveTokenrefers to the amount of a user's virtual assets. According to the reward distribution formula (2) of Smart Mining V1, the user's rewards are calculated in the following way:
Here, rt denotes the expansion factor of the reward token, ti denotes the i-th change, Ti denotes the total virtual stake at the time ti−1to ti, and balanceveToken denotes the amount of the user's virtual assets at the time ti−1to ti.
Contract code
function calculateBoostedBalance(uint256 amount, uint256 lockDuration) public view returns (uint256) {
if (lockDuration == 0) {
return amount;
}
uint256 boostWeight = lockDuration.mul(BOOST_WEIGHT).div(DURATION_FACTOR);
return amount.add(amount.mul(boostWeight).div(PRECISION_FACTOR));
}
Redemption Time of Fixed-Term Mining
Durationlock denotes the length of a lock-up period, Durationmaintenance denotes the length of a cooling-off period for re-staking, tstake denotes the time when the assets are staked, and tnow denotes the current time. Assets can be redeemed when the following conditions are both met:
rewards denotes the total amount of rewards, rewardsprev denotes the amount of settled rewards, tlastAction denotes the time of the last settlement, and Durationreward denotes the lock-up duration during which the rewards are not settled yet. Durationoverdue denotes the duration of time that is after the last lock-up period and shorter than a lock-up period. The user's rewards are calculated in the following way: