SpaceShipX Finance: Space Rebase Boardroom Launch

Launch of the boardroom for an elastic rebase algorithmic stablecoin (tomb fork) protocol, pegged to XSHARE, on Polygon.

DETAILS

• Boardroom
  • Stake SPACE/USDC LP in the Boardroom to earn XSHIP
  • During expansion, newly minted XSHIP rewards are distributed as follows;
    • 75% — Reward for Boardroom stakers
    • 20% — DAO fund
    • 5% — Dev fund
  • Boardroom only prints new XSHIP tokens when TWAP > 1.01
  • When the TWAP < 1, the rebase mechanism will take place (see ‘Features’ below)
  • Epoch duration: 6 hours
  • Staked SPACE/USDC is locked for 4 epochs and XSHIP rewards locked for 2 epochs (every deposit/claim/withdrawal resets the timer)
  • 2% deposit fee on staked SPACE/USDC
  • 2% withdrawal fee when TWAP is below peg

• Tokens
  • $XSHIP is the algo-stable and rebase token, pegged 1:1 to XSHARE
    • XSHARE is SpaceShipX’s native token for its fractional algorithmic synthetic protocol
    • Variable sell tax app, ranging from 5-15%, when price is under peg
  • $SPACE is the shares token
    • Total supply: 70,000
      • 56,000 — Liquidity mining incentives (vested linearly over 365 days)
      • 6,700 — Project treasury
      • 6,700 — Dev fund
      • 300 — DAO fund
      • 300 — Pre-mint for initial liquidity
  • No bond token

• Features
  • Variable sell tax on XSHIP;
    • 5% tax, when XSHIP between 0.9–1
    • 10% tax, when XSHIP between 0.8–0.9 XSHARE
    • 15% tax, when XSHIP below 0.8 XSHARE
    • 20% tax, 4 hours after rebase
  • Rebase mechanism – used to support XSHIP peg by reducing its circulating supply when either of the following conditions are met;
    • TWAP is at or below 0.85 at an epoch
    • TWAP has been below 1 for 6 consecutive epochs (6 hours/epoch)