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Home All Events SpaceShipX Finance: Space Rebase Boardroom Launch

Date

Nov 02 2022
Expired!

TimePacific Time

9:00 am

Your Time

  • Timezone: America/New_York
  • Date: Nov 02 2022
  • Time: 12:00 pm

Status

Active

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)

Blockchain

Polygon

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