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Farm Lock Smart Contract

Rewards​

The rewards are coming from the Stacking wallet of the tokenomics.

  • year 1: 45_000_000 UCO
  • year 2: 22_500_000 UCO
  • year 3: 11_250_000 UCO
  • year 4: 8_750_000 UCO

Weights​

These weights were chosen by the Archetic team to incentivize longer locks.

  • level 0 : 0
  • level 1 : 0.013
  • level 2 : 0.024
  • level 3 : 0.043
  • level 4 : 0.077
  • level 5 : 0.139
  • level 6 : 0.251
  • level 7 : 0.453

Rewards are calculated every hours​

Every deposits' timestamp is rounded to the hour before. For example a deposit at 12:03 and another one at 12:57 will both be rounded to 12:00 and they will both start earning at 13:00.

The calculation is triggered either:

  • by a scheduler contract that calls the calculate_rewards actions every hours.
  • by a deposit/claim/withdraw/relock action.

There is at most 1 calculation per hour.

State​

The state is composed of these properties:

  • last_calculation_timestamp the date of the last calculation
  • deposits state of the deposits at the moment of last calculation (level and reward_amount will change over time).
  • lp_tokens_deposited amount of tokens deposited at the moment of last calculation
  • lp_tokens_deposited_by_level amount of tokens deposited grouped by level at the moment of last calculation

Calculations​

When entering the calculate_new_rewards function, we check how much hours need to be calculated (should mostly be 1). Then for every hour:

rewardsToAllocateForThisHour = rewardsRemainingAtTheEndOfYear  * (3600 / numberOfSecondsRemainingUtilEndOfYear)
levelRatio = (tokensAmountAtThisLevel * weightOfThisLevel) / sumOfAllWeightedTokens
depositRatioOnItsLevel = (depositTokensAmount * weightOfThisLevel) / (tokensAmountAtThisLevel * weightOfThisLevel)
reward = rewardsToAllocateForThisHour * depositRatioOnItsLevel * levelRatio

An example​

Let's take a simple scenario so we can do the maths easily.

Imagine the farm starts (year=1) with these 3 deposits:

  1. 1000 UCO at level 7
  2. 1000 UCO at level 3
  3. 1000 UCO at level 3

To calculate the rewards of the 1st deposit:

rewardsToAllocateForThisHour = 45_000_000  * (3600 / 31536000) // 5136.986301369863
levelRatio = (1000 * 0.453) / 539 // 0.8404452690166976
depositRatioOnItsLevel = (1000 * 0.453) / (1000 * 0.453) // 1
reward = 5136.986301369863 * 1 * 0.8404452690166976 // 4317.355833989885

Until the state change (year change/level change/deposit/withdraw/relock), the first deposit will be rewarded of 4317.35583398 UCO every hours.

Giveaways​

If the contract have more balance than it's supposed to, the tokens are rewarded linearly over the entire farm's duration. Example, if someone sends 35040 UCO (= farm's duration in hours) to the farm, there will be 1 more UCO rewarded every hours. Nothing is wasted.

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