Boardroom
Check out our boardroom here! This is what you'll be met with. You are able to quickly see where your current bitSHARES are staked, as well as timers to the next epoch!
From here you can choose which Boardroom you would like to enter! Once selected, you will be see the following stats.
The Boardroom User Interface
Let's take a look at each element of the Boardroom user interface and what it means.
NEXT EPOCH The amount of time remaining until the next epoch.
CURRENT EPOCH The number of the current epoch.
bitBTC/bitDOT/bitADA/bitATOM PEG (TWAP) The TWAP (time-weighted average price) of the bitBTC/bitDOT/bitADA/bitATOM peg. The Boardroom only mints new bitBTC/bitDOT/bitADA/bitATOM as rewards for bitSHARE stakers when this value is above 1.001 at the end of the current epoch.
APR The yield for bitSHARE stakers in the Boardroom if the Boardroom was printing every epoch. This calculation is based on the last recorded print in the Boardroom.
bitSHARE STAKED The total amount of bitSHARE currently staked in the Boardroom.
bitBTC/bitDOT/bitADA/bitATOM Earned The amount of bitBTC/bitDOT/bitADA/bitATOM you've earned as rewards for staking bitSHARE in the Boardroom.
bitSHARE Staked The amount of bitSHARES you currently have staked in the Boardroom.
Boardroom Specifications
Epoch duration: 8 hours
The boardrooms all print at staggered intervals! Learn more here.
Any interaction with the Boardroom (staking/unstaking bitSHARES or withdrawing rewards) will lock your staked bitSHARE for 2 epochs. Your bitBTC/bitDOT/bitADA/bitATOM rewards can be redeemed after 1 epoch. Example: You stake 2 hours before an epoch ends. Your bitSHARES are locked for 18 hours (2 epochs is 16 hours, plus the 2 hour gap)
Staking and unstaking your bitSHARES both incur a 2% fee. This fee is used to support the bitBOMB protocol and the BOMB protocol at the teams discretion.
Distribution of bitBTC/bitDOT/bitADA/bitATOM during expansion (Boardroom printing):
50% goes to Boardroom bitSHARE stakers as rewards 30% goes to the Protocol
10% goes to Insurance Fund 10% goes to Dev Fund
Epoch Expansion: The current expansion cap is based on the currently circulating BOMB supply (see bitBTC/bitDOT/bitADA/bitATOM for details). If there are bonds to be redeemed, 65% of minted bitBTC/bitDOT/bitADA/bitATOM goes to the treasury until its sufficiently stocked to satisfy future bond redemption.
Note that the Boardroom does not print any rewards for bitSHARE stakers when the Boardroom TWAP < 1.001.
Boardroom FAQ
1. Once bitBonds are issued, do the Boardroom(s) stop printing until we are above peg again?
Staking bitSHARES will only give you rewards when the price of bitBTC/bitDOT/bitADA/bitATOM is above 1.001 peg, but not when it is under the peg. If one of the pairs was under peg, the other boardrooms will still print. Think about moving your bitSHARES there instead!
2. What happens if I interact with the Boardroom in any way? Are there any lock-up periods?
Yes, there is. One when you stake your bitSHARES. Claiming your rewards will reset this timer. The lockup period is 2 epochs (16 hours plus the time difference you deposited before the epoch ended. Example: You stake 2 hours before an epoch ends. Your bitSHARE are locked for 16 hours (2 epochs is 16 hours, plus the 2 hour gap) to unstake your bitSHARE. If you withdraw your rewards without also withdrawing your bitSHARE, you will have to wait two epochs to unstake your bitSHARE as they will be locked up. Example: You claim your bitDOT rewards 5 minutes after a boardroom print, your bitSHARE are now locked up for 15 hours 55 minutes.
3. Are the Boardroom rewards pro-rated by time? For example, if I stake three hours before the end of an epoch versus five hours before the end of an epoch, would I get different rewards?
No, Boardroom rewards are determined by how much you have staked at the time of printing (i.e., at the end of one epoch and the start of the other). It doesn't matter if you stake three hours before or thirty seconds before the emissions occur.
4. If I remove my bitSHARE from the Boardroom without first collecting my rewards, will they be lost forever?
No, they will still be sent to your wallet.
5. The Boardroom APR dropped because we're in a "debt phase." What does that mean?
A debt phase takes place during expansion epochs that start after a contraction period where there are still BONDs to be redeemed.
65% of expansion during a debt phase is allocated to the treasury fund to prepare for subsequent BOND redemption down the road. This amount is always reserved, regardless of whether BOND holders are redeeming bonds or not.
Once enough bitBTC/bitDOT/bitADA/bitATOM is sufficiently stocked in the treasury to satisfy the redemption of all circulating BONDs, expansion rates will resume to normal.
6. If we're in a debt phase, how long will it last until the Boardroom continues printing as normal?
The debt phase will last as long as is necessary to adequately pay back outstanding BOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonus premiums when people redeem BOND over 1.05 peg. There's no exact way of calculating how many epochs it will take, since the protocol doesn't know exactly when people will redeem their BONDs. The debt phase cannot end until the treasury has enough bitBTC/bitDOT/bitADA/bitATOM to cover the redemption of all outstanding BONDs, plus a premium.
7. At the end of the epoch, the Boardroom did not print, but then no BONDs were issued either. Why?
There is a balanced state "at peg" when bitBTC/bitDOT/bitADA/bitATOM's TWAP is between 1.00 and 1.001, which results in no contraction or expansion of the circulating supply of bitBTC/bitDOT/bitADA/bitATOM. This is referred to as a zen epoch.
8. If bitBTC/bitDOT/bitADA/bitATOM continues to climb above the price of the peg, will that influence how long the debt phase lasts?
Depending on the price of bitBTC/bitDOT/bitADA/bitATOM, the Boardroom print will have to adjust to provide a buffer for any unclaimed BONDs. As the price of bitBTC/bitDOT/bitADA/bitATOM climbs above the peg, more bitBTC/bitDOT/bitADA/bitATOM needs to be distributed to the treasury to account for BOND redemptions, plus premiums.
9. How can I figure out what my future bitBTC/bitDOT/bitADA/bitATOM rewards will be from the Boardroom?
Let's take a look at a simplified example for a non-debt phase: say you have 1 bitSHARE staked out of 10 total bitSHARES staked in the Boardroom. In this case, you will receive 10% of the total bitBTC/bitDOT/bitADA/bitATOM printed in the Boardroom.
For this example we are assuming that there is a total circulating supply of 10,000 bitBTC/bitDOT/bitADA/bitATOM and the current expansion rate is at 4%, so a total of 400 bitBTC/bitDOT/bitADA/bitATOM will be printed in the Boardroom. Under the protocol's current rules, 50% of those newly printed bitBTC/bitDOT/bitADA/bitATOM will be distributed to bitSHARE stakers in the Boardroom. (See the bitBTC/bitDOT/bitADA/bitATOM distribution page for more details on how bitBTC/bitDOT/bitADA/bitATOM is distributed within the protocol.) Therefore, you would get: ((0.04 * 10000) * 0.50) * (1/10) = 20 bitBTC/bitDOT/bitADA/bitATOM. Thus, the formula to calculate your rewards is as follows: ((ExpansionRate * CirculatingbitBTC/bitDOT/bitADA/bitATOMSupply) * 0.50) * (Your bitSHARESStaked / TotalbitSHARESStaked)
10. How long will it take for bitSHARES to pay itself off from bitBTC/bitDOT/bitADA/bitATOM rewards based on current prices?
This will vary constantly as the APR in the Boardroom fluctuates, along with other variables such as the price of bitBTC/bitDOT/bitADA/bitATOM.
For a quick estimation, however, you can do the following:
Take the total APR shown in the Boardroom and divide that by 365 to get the daily APR. (For this example we will say the daily APR is 5%.)
Multiply that daily APR by the current market price of the total bitSHARES you have staked to see what your daily rewards are. (In this example, we have 5 bitSHARES , each worth $500, for a total amount staked of $2500. Your daily return in this case would be $2500 * 0.05, which comes out to $125 per day.)
Take your initial buy-in price for bitSHARES and divide it by your daily rewards. If you bought these 5 bitSHARES at a higher price, say $700 for example, in the current market conditions you would recover your initial investment of $3500 in 3500/125 or 28 days.
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