Decentralized Onboarding Improvements
We received a lot of feedback from our customers and community about the previous staking system that we created. Based on that feedback and ideas that the team has had for new features for the staking vaults, we have made several upgrades in the Decentralized Onboarding (DO) system that will improve the experience for both vault owners and token holders.
Projects Can Now Launch Their Vault Directly from the Platform
In the previous version, each project had to discuss with the Altrucoin team in order to create a vault. The team would get the system requirements, go over suggested settings, then build the vault. This could take anywhere from three days to two weeks to do, and required the attention of the whole team, limiting them to one project at a time. With the new Decentralized Onboarding, projects are able to launch a vault in under five minutes directly from the platform. They are able to choose the settings they want, automatically run the technical checks, and have the vault ready for staking without having to go back and forth with the Altrucoin team. This allows Altrucoin to scale better, while simultaneously making the customer experience much smoother and easier.
Support for Multiple Vaults Per Token
With the new DO system, users are able to create multiple vaults for their token. A project may want a safe vault for their holders who are looking for a consistent return, as well as a vault that is less consistent but offers the chance for significantly higher rewards. They are able to create both vaults directly through the UI, and can continue to make as many vaults as are needed for their project.
Vault Contract Upgrades
Performance Only Fee Options
One of the consistent pieces of feedback that we received was the frustration for users who staked for a short time or started staking right as a downturn happened for a project, and ended up losing tokens to the fees. We believe that staking should be a win for the user, the vault owner, and the Altrucoin project, so we have created performance fees. Performance fees are fees that are only taken from token rewards, or profits, rather than from the initial staked amount. This means that if a user enters a vault that has only performance fees and no entry or exit fee, the amount they unstake cannot be lower than the amount that the originally stake. The vault owner and Altrucoin will only receive fees if the user gains tokens.
Significantly Improved Locking Incentives
We have also reworked the way that locking incentives work. While Altrucoin vaults allow for short staking times, most projects want their users to stake long term. Because of this, we have changed the way that pool share works to better account for lock time differences. Depending on the “Max Locking Bonus” setting the vault owner chooses, the APY for tokens that are locked for the maximum amount of time could be up to 30 times higher than the APY for tokens that are unlocked.
We have introduced two new changes to the way that relocking tokens works. In the new DO system, tokens will receive the locked APY bonus until they unlock. After the lock time expires, there is a few day grace period where users can relock their tokens to continue receiving the locked APY bonus. If they do not, the APY gradually decreases to the level of the APY for unlocked tokens. At any point, users can lock their tokens again to start receiving the bonus.
Secondly, staking new tokens for a longer lock time applies the locking bonus to all the users staked tokens, not just the newly staked ones. This was done to make the system more user friendly, so users are able to see the lock time and locking bonus of all their tokens at a glance.
LP Token Vault Support
Altrucoin has introduced a new type of staking vault. The classic single token reward and dual token reward vaults are still available, but we have also added an LP token option. With this vault type, users are able to stake LP tokens, and receive the proejct’s native token as the reward token. Users are still able to unstake and break the LP tokens back after unstaking, but the use of the tokens for LP is beneficial to many projects for improved trading and discussions with exchanges.
The previous staking vault system largely relied on vault activity to produce rewards for users staked in the vault. This led to huge swings in APY, allowing for massive gains at the cost of reward consistency. We have kept this version (now named High APY vault) as well as introduced two new versions that give projects greater control in the type of vault that they offer.
The Time Based vault distributes a set number of tokens per day to the vault, split up by each users pool share. It also includes a runway showing how many more days the vault will be able to distribute those rewards, and updates that runway each time more tokens are added to the vault. This allows users to see exactly how many tokens they can expect to receive each day, as well as how many days the vault can send them those rewards. It acts as a much safer alternative to the High APY vault, and has its rewards supplied by the vault owner.
The final vault type added is the Long-Term APY vault. This is a combination of the Time Based and the High APY vaults. A set number of tokens is still distributed per day, with a runway showing how many more days the vault can distribute those rewards. The vault owner must supply the initial set of token rewards. However, it also allows for an entry and exit fee, meaning that the vault can also distribute additional rewards based on vault activity. This allows for a consistent baseline of rewards, with occasional spikes based on activity.
Instant Airdrops vs Timed Distributions
Because of the way that the new vault smart contracts are organized, vault owners are now able to send tokens to the vault and have them either instantly distribute those tokens (like an airdrop), or distribute them over time according the daily token distribution amount. The method of distribution depends on the contract address that the vault owner sends the tokens to, which is outlined in the admin panel.
Improved Dual Token Reward
Previously, the old system was limited to only updating a few users at a time for secondary rewards. With the new DO system, reward amounts of both the primary and secondary tokens are updated for each user every time there is vault activity (distribution, staking, or unstaking). This ensures that any user who is unstaking their primary or secondary token has the expected amount every time.
We have added several improvements to the way that the vaults interact with gas on the BSC, leading to lower gas costs whenever users stake or unstake.
Altrucoin is in the process of getting the Decentralized Onboarding staking contract audited by Certik to have the security verified by a trusted third party.
Reward Distribution Rebalancing
Previously, staking vaults heavily favored and rewarded users who entered the vault first, leading to unbalanced rewards and a mad dash to be the first to enter the vault. We have since updated the way that rewards are distributed, more evenly applying to all users who are staked in the vault. Users who are staked for longer are most rewarded rather than the users who enter first. This is reflected in the pool share, which takes lock time into consideration for the amount of rewards a user will receive.
User Interface Upgrades
As mentioned before, projects are now able to create a new vault using the application UI.
The new vault list shows more vaults at once for users so they can more quickly find the vault they are looking for.
Sorting and Filtering
Users are now able to filter by vaults that they are staked in to more quickly find the vaults that matter to them. Additionally, users can sort all vaults by level, reward type, reward token contract address, amount staked, APY, and recency.
Individual Vault Information
Vaults now clearly show tokens distributed per day, current runway, and rewards sitting on the vault contract, where applicable.
Vaults now show the percentage of the total supply of a token staked in that tokens vault.
We were able to make these massive upgrades based on ideas and feedback from our customers and community. We still have quite a few upgrades in the queue as we continue to improve the system. If you have any suggestions, feel free to let us know in our discord!