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Elements of Governance (EoG)

Variables of scarcity dapp.

https://staava.network/#calcElements of Governance (EoG):

Elements of Governance (EoG) are references of value fields, operations, functions, literal values, or other variables consequent to formulas formed/used in our Token Mechanics.

Minting Formulae (MF)

Minting Formulae (MF) is the scarcity formulae that collateralize a VsT (Verified Scarcity Token) via the burn and lock function to mint STAAVA coin based on stated Ppy and Sf (Scarcity factor).
MF = {(Dt*Mr1)/SPpy}*{Cvst*0.1}
Variables of Minting formulae
Minting Formulae = {(Dt * Mr1)/SPpy}*{Csnt*0.01}
Where;
Dt = Daily Timestamps = 86,400,000 Millisecs
Mr1 = Initial Minting Rate = 0.00000001 STAAV
Cvst = Collateral of Verified Scarcity Token (e.g. FAAM)
SPpy = Scarcity Periodic Per Year = 365/Ed
Ed = Entry Days (15 - 90 days)
Minting RULE #1: Minting Rate (Mr) reduces by 10% for every 1,000,000 STAAV minted.
This mean that contract will update for every 1 million STAAV token minted with an adjusted Minting Rate (Mr) per Milli-seconds.
Mr.New (Mr2) = Mr1 - {10% * (Mr1)}
Example:If initial Minting Rate (Mr1) is 0.00000001 STAAV/millisecs. After the first 1 million STAAV is minted, New Minting Rate (Mr2) will be base on formulae above.
Mr2 = 0.00000001 - (0.000000001)
Mr2 = 0.000000009
Note: Minting rates is measure in daily timestamps of 86,400,000 milli-secs per day.

Scarcity Period Per Year (SPpy)

Scarcity Period Per Year (SPpy) is the yearly duration of lock for the collateral asset per entry days.
Ppy = 365/Ed Note: Contract can be invoked within Entry Days (15 - 90 days).

Entry Days (Ed)

Entry Days (Ed) is the VsT locking period in timestamps, measured in days.

Scarcity Factor (Sf)

Scarcity Factor (Sf) is a governance function that measures the unlocking period in timestamps. It's measured in entry days after locked duration (Ed).
i.e. Sf = Ed + 1/2Ed Note: Locked VsT are claimable during UNLOCKING period. Check the minter's calc-2

Proof of Lock (PL) Function

PL-Unit Proof of Lock (PL) is not a token. It is a governance function that indicates evidence for the creation of scarcity. It's given to the users who execute the smart-contract as against the unique native currency (STAAVA) with defined privileges.
PL-Unit is the Proof of Lock (PL) function, scripted to BURN 25% of the VsT and scripted to LOCK 75% of VsT (e.g. FAAM) against its ENTRY balance, while minting STAAV upon the scripted dapp invocation of the scarcity smart contract. PL-Unit cannot be traded, transferred, But can be burnt only on dApp conditions...
The amount of PL-Unit deposited represents the user's 75% committal of the peg currency via dApp invocation. Until PL-Unit is burnt, the committal asset can not be withdraw out of dApp contract.
Example: A user locks 10,000 FAAM for a defined SPpy of 15 days entry time, the contract shall calculate 75% of the equivalent amount in PL-Unit as 7,500 PL-Unit (to be locked), while burning the remaining 25% instantly, and minting STAAVA coins according to minting formulae. 75% (7,500 FAAM) which is represented as PL-Unit for the stated SPpy is locked with scarcity factor.
Summary of such invocation shall mean the following:
  • 2,500 FAAMis instantly burnt as deflationary measure of VsT.
  • 7,500 PL-Unitis deposited as Proof of Lock.
  • 3.55068493STAAVshall mint to wallet as scarcity incentive.
  • 7,500 FAAMunlocks during scarcity factor period.
  • 5% of minted STAAV is deducted to Dev-team

Dev's Incentive

Developer Incentive is a 5% percent compensation from every mint that is subtracted to the Staava Development Team.
From the example above, If a user is minting 3.55068493 STAAV via the contract, At the instance of mint, 5% (i.e. 0.177534245 STAAV) is deducted to Dev-incentive wallet.