Stake TRND & Farm xTRND: Dev Update.02

Short version

  1. Stake your TRND: go to ETH-TRND Uniswap pool, click “Add Liquidity” and follow instructions. You will receive some amount of Uniswap V2: TRND tokens in return. That is your stake.
  2. Farm xTRND: hold Uniswap V2: TRND. For every hour an address holds Uniswap V2: TRND it will accumulate:
    • basic reward: 0.1 xTRND
    • bonus reward:
      (Your Pool Stake %) * (Number of Pool Participants) xTRND
  3. Claim xTRND: you can track your xTRND accumulation on the Staking Leaderboard. Once a week you will receive xTRND via airdrop directly into your address that held Uniswap V2: TRND tokens in that period.
  4. Questions? Read the long version first.

Long version

Many of you have asked me about staking. I always said it is going to happen when it has a purpose. Thanks to a suggestion from Aaron B, I now see a great one.

We established that TRND tokens are scarce. We established that liquidity is small. There is only 113,000 of TRND tokens and cannot be more. And you need at least 13 to access the dapp. So far so good, but if you have these 13 TRND how can you keep your access to the dapp and lock them for staking at the same time to get the weekly dividends?

Here’s the DeFi way to solve this: farming xTRND 👩‍🌾

What is xTRND?

It is a new rewards token used within the Trendering dapp. Imagine if Trendering was a car, the 13 TRND would be your key to the ignition. But you still need petrol to run it: the xTRND.

xTRND supply starts with 1,000,000 tokens gradually released to stakers, out of which 20,000 are kept on Trendering accounts to safeguard the token. In the future it will be governed by the Trendering DAO: Trendering.org

How to farm xTRND?

Simple: Add liquidity to the ETH-TRND Uniswap pool, and keep the “Uniswap-V2: TRND” tokens in your address.

The yields are balanced to reward both small but early participants as well as big liquidity providers and encourage more people to participate by combining two ways to calculate hourly yield:

  1. Basic Reward: 0.1 xTRND per hour is awarded to every address that holds any amount of “Uniswap-V2: TRND” tokens. (There is area for small abuse here but consider gas fees if you think of splitting your holdings)
  2. Bonus Reward: every hour the amount of xTRND equal to the number of pool participants (95 as of writing) is split to every address proportional to the amount of “Uniswap-V2: TRND” tokens that address is holding.

Burn address does not receive rewards. So the hourly yield for an address holding X% of all “Uniswap-V2: TRND” tokens is: 0.1 + (1 * Y * X%) xTRND where Y is the number of pool participants at the moment of reward calculation.

Under the hood, rewards are calculated per each second of participation, to minimise abuse.

When is staking starting?

This is the best part – it already has! Blockchain already has all the info who and when provided liquidity to the ETH-TRND pool since it opened last Monday. I am analysing this data hourly to calculate latest yield results displayed on the dedicated Staking Leaderboard (goes online this week). You don’t need to move your “Uniswap-V2: TRND” tokens anywhere from your address or pay any additional gas fees!

What is more, you won’t have to claim your xTRND. It will be delivered to your address once a week via airdrop at a time when gas fees are low. In the future, when claiming interface is deployed, you will be able to claim it any time, but for a gas fee to run the contract.

Can I stake with 13 TRND or less, or can I stake all my TRND?

Yes. All “Uniswap-V2: TRND” holders receive xTRND no matter the size. The amount of TRND you add as liquidity is represented by “Uniswap-V2: TRND” token. As I am writing this, a little bit above 2.1 “Uniswap-V2: TRND” tokens represent 13 TRND and corresponding ETH of liquidity. The Trendering dapp will always know this threshold and allow the connecting address as long as it holds at least 13 TRND or at least the required amount of “Uniswap-V2: TRND” token.

Please note that if you put 13 TRND into the pool, you don’t have any guarantee that you will be able to get 13 TRND out. If TRND price falls, you should get more TRND out and less ETH. However, if TRND price rises, you should get less TRND out and more ETH.

So what is xTRND for?

To get weekly dividends from the capital vehicle, you will simply need to hold xTRND or TRND in your address. That is your share of Trendering and the proof of participation since day 1.

You don’t want to stake? You still will be a part of dividends from your TRND. You want to stake? You won’t lose any dividends because you farm and hold xTRND. You want to have both? No problem.

Additional ways to use xTRND will arise as the project matures, and I already have a few ideas, but lets first test the dapp. In the end, I want it to be governed like a DAO by the xTRND holders.

Why xTRND pool on Uniswap?

Because if I did not create it and control it, the first scammer who gets on the xTRND token would do it. Or duplicate it like TRNDF… And that would be bad for everybody, but Trendering especially.

The pool opened with 1.3 ETH and 1,300 xTRND at about 40 cents per xTRND. As expected, a bot jumped into the pool the very same second it was created. With 0.26 ETH it purchased 16% of supply. I would expect it to grab 50% outright, but it seems to have a cap on how much ETH it invests. Makes sense if it jumps into every new pool. Most likely makes a ~0.25 ETH purchase of whatever it can get.

If left unchecked, the bot would wait 5-7 minutes while the price increased significantly and the pool filled with ETH. Then it would exit with a nice profit. Instead, I crashed the price 60 seconds after pool creation to suppress speculation. Then I did it 3 more times in the next 30 minutes or so. After that, activity & price stabilized. Like I said in the public Telegram, xTRND is less an investment, more a reward. Pool liquidity is owned & managed by Trendering accounts – it will be increased if necessary. It won’t be locked or burned, to safeguard the token and the pool.

Now you can focus on farming, and I can focus on finishing the dapp. Expect more things to come.

EDIT: In my attempt to simplify things, I set the bonus reward at a fixed rate of 1 xTRND per hour. However, to give more recognition to larger stakers, I change this to my initial plan: the hourly amount of xTRND for the bonus reward equals to the number of pool participants (95 as of writing this). This means that those who try to exploit the basic income by splitting their “Uniswap-V2: TRND” holdings into multiple addresses are effectively significantly increasing the bonus reward for larger stakers.

About me

My name is C.
(telegram) (twitter) (email)

I am a fan of automation, data analysis and Ethereum. I have been working on Trendering for some time. I have seen many things: coin scams as they happened live, pump-dump schemes from coordinated addresses, whales moving markets…

I will never reveal my identity. If you have a problem with that then well… it’s not my problem. I give you Trendering to level the odds. It’s your choice whether to use it.

7 thoughts on “Stake TRND & Farm xTRND: Dev Update.02

  1. AvatarGregory Williams

    Hello,
    I’m holding the UNI V2 token and I’m not seeing where to claim xTRND. Am I doing something wrong? I have properly staked ETH with TRND provided as liquidity and I see the fees accumulating. Please advise what I should be doing. Thank you for your help and concern!

    Gregory Williams

    Reply

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