♣️ Membership token: vDSG

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Last updated 3 years ago

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♣️ Membership token: vDSG

vDSG

vDSG is the certificate for Dinosaur Eggs users to become members. The membership system is set up for loyal token holders.

vDSG is minted by DSG in the ratio of 100:1.

You can capture the core values of Dinosaur Eggs by holding, including:

Obtain 4 DSG rewards per block
Additional transaction fee allocation of 0.025% of the Dswap transaction volume will be distributed to vDSG holders after buying back DSG. The reward is distributed once a day, and the distribution time is around 2:00 AM (GMT)
DSG deducts two-ten thousandths of each transfer and distributes it to vDSG holders
Obtain the distribution of trade fees on the NFT market
Members who stake 1vDSG can invite other members to mint vDSG. 10% of the vDSG minted by the invitee will be used as the member stake weight of the inviter. However, the rights cannot be redeemed or transferred and will disappear permanently after the invitee and the inviter redeem the vDSG
When other users redeem vDSG, the membership withdrawal fee charged at a ratio will be distributed in the form of vDSG to vDSG holders who do not withdraw.

For the specific operations of joining as a member, please see:

Membership withdrawal fee

When a vDSG is redeemed as a DSG, the withdrawal fee shall be paid in proportion. This withdrawal fee will be distributed to all vDSG holders who have not withdrawn in the form of vDSG. Of this withdrawal fee, 50% will be distributed to all vDSG holders who have not withdrawn, 30% will be burnt directly, and 20% will be put into the reserve pool (subsequently, it will be used as an incentive source for the Pool, eggs and Meat fragments` liquidity pool).

The rate of the withdrawal fee is dynamic, changing according to the “Membership Index” of DSG. The higher the membership index, the lower the withdrawal fee. Membership index = the number of vDSG * 100/number of circulating DSGs.

When the membership index is greater than 0.65, more than 65% of the circulating DSGs are staked, and the rate of withdrawal fees reaches the lower limit as 10%.
With the decline in the membership index, the withdrawal rate gradually increases.
When the membership index is less than 0.1, only less than 10% of the circulating DSGs are staked, and the rate of withdrawal fees reaches the upper limit as 80%.

Define the membership index as x, withdrawal fee rate is y, and the specific formula for the withdrawal fee rate is:

When x≥0.65, y = 0.15
When x≤0.1, y=0.65
When 0.65 > x > 0.1, y = 0.740909 -x * 0.909

The parameters of the withdrawal rate will be adjusted irregularly with the progress of the project, and will be determined by the community governance after the start of the DAO.

Previous⚖️ Governance token: DSG NextHow to become a member

Last updated 3 years ago

Was this helpful?

vDSG

vDSG is the certificate for Dinosaur Eggs users to become members. The membership system is set up for loyal token holders.

vDSG is minted by DSG in the ratio of 100:1.

You can capture the core values of Dinosaur Eggs by holding, including:

Obtain 4 DSG rewards per block
Additional transaction fee allocation of 0.025% of the Dswap transaction volume will be distributed to vDSG holders after buying back DSG. The reward is distributed once a day, and the distribution time is around 2:00 AM (GMT)
DSG deducts two-ten thousandths of each transfer and distributes it to vDSG holders
Obtain the distribution of trade fees on the NFT market
Members who stake 1vDSG can invite other members to mint vDSG. 10% of the vDSG minted by the invitee will be used as the member stake weight of the inviter. However, the rights cannot be redeemed or transferred and will disappear permanently after the invitee and the inviter redeem the vDSG
When other users redeem vDSG, the membership withdrawal fee charged at a ratio will be distributed in the form of vDSG to vDSG holders who do not withdraw.

For the specific operations of joining as a member, please see:

Membership withdrawal fee

When the membership index is greater than 0.65, more than 65% of the circulating DSGs are staked, and the rate of withdrawal fees reaches the lower limit as 10%.
With the decline in the membership index, the withdrawal rate gradually increases.
When the membership index is less than 0.1, only less than 10% of the circulating DSGs are staked, and the rate of withdrawal fees reaches the upper limit as 80%.

Define the membership index as x, withdrawal fee rate is y, and the specific formula for the withdrawal fee rate is:

When x≥0.65, y = 0.15
When x≤0.1, y=0.65
When 0.65 > x > 0.1, y = 0.740909 -x * 0.909

The parameters of the withdrawal rate will be adjusted irregularly with the progress of the project, and will be determined by the community governance after the start of the DAO.