During our recent contract change we added some new features to the group manager contract:
- Token burn mechanics
- A new staking system
- Description field when creating groups
- Group contribution minimum removed
- Group contribution maximum added
Burn system
Half of a group’s entry fees are now burned when that group starts making our token deflationary. Previously, half of the fees went into the staking pool to help sustain it for longer. Now that we’re using a different staking payout curve, we think this makes the most sense. It will also increase the long term value prospects of the project.
Staking Changes
We’re getting rid of our old staking system and using an established contract that is currently in use by other protocols. We will announce more details shortly, and expect the system to go live in less than two (2) weeks. Our current targeted launch date for the new staking system is October 15th.
Group Descriptions
This was a highly requested feature, and as a result of the migration, we were able to get this live faster than planned. When creating a group, the leader has the option to add any amount of text they want in the description field. This can be used to communicate the group’s trading plan, or as a way to confirm who is running the group.
Minimum Contribution Changed to Maximum
In order to give leaders more control over how many members can join their group, we have added the ability for leaders to set a maximum amount of ETH that can be contributed from a single address. This can be used to ensure the group brings in a minimum amount of distinct fees before it starts.
UI changes
Two highly requested UI changes have been added to the app:
- Simplified group creation
- Viewable trade lists
Simplified Group Creation
We have some bigger UI upgrades planned for the future (such as leader-boards, custom list creation, and contests) but we rolled out some smaller ones now to help general usability while we work on those.
Group creation has been greatly simplified and we have also included a few presets for different group sizes. These can be adjusted as needed to fit a leader’s exact trading plan, but they also work perfectly as-is for quick group creation. The old group creation interface is still available for advanced users who want full customization abilities.
Viewable Trade Lists
Currently all groups use our default list, which is mostly based on the Uniswap default list. Some additions have been made already, and over time it will continue to grow. The trade list tab on the main app page is where you can find the full list of currently tradable tokens. These trade restrictions exist for the safety of our users.
