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FuseStaking DAO ongoing expenses smart distribution #229

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GoldenSylph opened this issue Mar 9, 2022 · 1 comment
Open
2 tasks

FuseStaking DAO ongoing expenses smart distribution #229

GoldenSylph opened this issue Mar 9, 2022 · 1 comment

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@GoldenSylph
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GoldenSylph commented Mar 9, 2022

There 2(3) contracts that we manually topup with funds at the moment. The FuseFaucet which subsidizes gas for the wallet users and the invitepool which gives invite rewards to wallet users. We want this to be sustainable, and top it up from the DAO rewards in the FuseStaking. we call these contracts in this issue Faucets

Currently we dont use the firstclaim

  • Create a new contract "SpendingRateOracle" that will be an oracle for the spending rate of fusefaucet, firstclaim, invitepool contracts

    • calculate spending rate: read Faucets current balances vs previous recorded balance, divide by number of blocks passed
    • Oracle should have reservePeriodDays(default 1 week) for each Faucet. which will be used to calculate given a spending rate how much of reserve/balance should be kept for that Faucet contract.
    • Faucet reserve calculation: spendingRate*reservePeriodDays
  • collectUBI should query the oracle and do as follows:

    • if Faucet current balance is below target Faucet reserve then send funds enough to cover.
    • notice fusefaucet is in FUSE tokens while firstclaim/invite are GD
    • the faucets should be filled by order of importance FuseFaucet, InvitePool
    • rest of the funds should go to the CommunityPool And UBI according to preset percentages.
@GoldenSylph
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  • Somehow (oracles?) get and exchange GD in FUSE to send in FuseFaucet
  • Make a reservePeriodDays mechanism

@sirpy sirpy changed the title Make a DAO part (except UBI and community pool) distribution mechanism FuseStaking DAO ongoing expenses smart distribution Mar 17, 2022
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