[ Discussion Panel ] Making 1inch Tokens ULTRA - USEFUL!

i think this Protocol will better than YFI!

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Not all risks are equal, so opportunities usually are equilibrated by risk*profit. Those who can better estimate risks could earn more than others. Simple splitting volume among different opportunities is not the best solution IMHO.

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Totally Agree , Risk & Profit are Directly Proportional to each other . But It’s evident that some also like to play with such Risks or else we won’t have people investing in Memecoins & Bogus Farming Pools popping out on daily basis .

Simple Put , we’re just staging a better Alternative . I think new people that join DEFI for making quick / decent money go blind when they see 2000% APR & they might loose sight of all the risks involved with that . 1INCH on other hand can tackle / might take a responsibility to avoid such complications by providing a platform that will Filter such Malacious Actors out of the DEFI sector .

Splitting theory can be related to something we say ‘Diversifying your risks or not putting all your eggs in 1 basket’ So instead of Pooling in just 1 We rooting their Investment into diff pools .

There are so many Legit Projects out there but people overlook them when they see 100% vs their 20% APY & forget about all risks associated with that decision of their sometimes . As 1inch is making DEFI better I’m hoping we can help such users by giving them the best they can get by showing what’s really bad & good .

This is just a Small Difference but can impact Lives

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Because 1inch has the best router, why not provide it to users or holders who staking or hold 1inch? This is the best feedback to users, that is using 1inch products (aggregators)!

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ΞINCH Ⱦrade ΞWars a.k.a ΞDΣX ɃattleGrounds | 1TW :receipt::reminder_ribbon:

Win Rare Rewards -

  • Exclusive Giftcards [ ۩ Amazon Giftcards etc.]
  • Free Phone Data Refills [ ۩ Bitrefill Integration etc.]
  • Exclusive 1INCH NFTs [ ERC721 / Sellable ]
  • 1INCH Customized Merch
  • 1% of Total Governance Weekly Rewards goes to Winner
  • Direct Pass/Chance to MEET/TALK with 1INCH Co - founders
    & Even More .

T&C - Only 1inch pairs are eligible

1inch XP = 100 Points = 20% TRADING Freq. + 40% Trading Voulme + 40% *PnL

TBC …

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1INCH Governance REWARDS v1.0


As the Governance Snapshot is Already Deployed & Team Plans to Foster Full DAO Governance in near term it became very necessary that 1INCH Governance Builders/Stakers become Pro - Active in Voting .

Keeping in mind the very 1st purpose of 1INCH token in Governance , It’s time that we put it in forefront of such .



Rules are simple :


  1. Complete Any 2 out of 5 to claim your 1INCH Governance Reward
  2. These Tasks Can be Customized by 1INCH team in accordance [ 2 task must not incur any Gas ]
  3. Tasks must be completed in order to Claim Governance Rewards if not a ‘Time Decay’ Will be deployed , if completes , will then redistribute that governance reward back to other Stakers or to a Separate contract .
  4. “Time Decay” is either Set by Governance Vote or by team
  5. As Snapshot Voting is something that doesn’t Incur any gas fee , if it can be made compulsory to a point Until 1INCH snapshot votings start gaining Req. quorum

Need :


It’s with the Urgent Need that Governance Sole Purpose must be Fulfilled if 1INCH wants to achieve a True Governance Model & The Time starts NOW …

JUMP

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nice!You have become a product manager

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Ohhh … :grinning_face_with_smiling_eyes:

I’m just a random guy throwing out some random stuff In hope they make it even better :wink:

Can we start a voting on a proposal?Don’t wait for them :smiley:

Think this would also be useful in the other direction – multiple coins to a single coin. For example, ran into the issue today where I had some BUSD and some USDT and wanted to buy 1INCH, but didn’t know which of the following trades would give me the best execution:

  1. USDT → BUSD; BUSD → 1INCH
  2. BUSD → USDT; USDT → 1INCH
  3. USDT → 1INCH; BUSD → 1INCH

This can also be extended to non-stablecoins, allowing you to trade WETH and AAVE for 1INCH (for example) in a single click.

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Hey @crunkmasterflex . Glad to see you here .

Check these Youtube AMA AMA2 Clips . I included Exact timestamps


Sergej Said a Special Interface Can be Build for Such Swaps to Multi to Multi swaps in 1 txn.
Anton even said a Highly Efficient solution With Almost Negligible Gas costs from many to 1 swaps

Insta Click Multi - Coin Conversion - | IMC | :sparkles: Jump intended to do that exactly .

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Double/Single APY Generating Limit Orders | YLOP :parasol_on_ground:


Idea is Simple -

Sending Limit order funds to the lending protocol to generate APY till the limit order conditions are met.

JUMP

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Considering that the current LOP can’t be closed normally, it may be necessary to meet 100% of the normal transaction LOP first.
People always complain, why didn’t my LOP close?
Why don’t we think about LOP?
For example, the liquidation of AAVE makes profits from the liquidation.
Profit from derivative transactions using LOP
and more…

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Deflationary Burning Mechanism of 1inch Tokens inherited with an Advance Usecase :briefcase:


Revised 1INCH Tokenomics Upgrade : The Next Phase

Note : This is just a Rough Summary . I don’t want the Post to be Very Lengthy , Just a little Idea you can get with it what it is all about


1. “Claim Reward by Task” Mechanism [ Applicable for Buyback & Distribute & Farming ]

In Short , Whether it’s from LP Farming or via Governance Staking users will have to Complete Certain tasks to claim their 1INCH Rewards . Check Rough Idea - 1INCH Governance REWARDS v1.0

How it’ll be useful -

  • Creating Tasks will Help rewarding Active Users Against Passive Users
  • More Participation in Governance Tasks e.g. Snapshot Votings etc.
  • Liquidity Boost if LP tasks are Enabled
  • Indirect Increment in Trading Volumes of DEX Across all chains

2. Deflationary Burning Mechanism with an Advance Usecase [ A Trigger System ]

When we say Burn it’s Pretty obvious what it’ll be . Many Projects Deploy diff type of Methods to initiate Burning of their Native Tokens .

  • Charging Deposit/Withdraw/Performance fee , Transfer Tax , BuyBack & Then Burn a %age of it
  • Burn Token to keep the Inflation in check which is great for No Hard Cap tokens
BNB burning event

When the Binance Coin was still part of the Ethereum network, Binance performed periodic Coin Burn events using a smart contract function known as burn function . The BNB burning events are scheduled to occur every quarter until 100,000,000 BNB are finally destroyed , which represents 50% of the total BNB ever issued (200,000,000 BNB).
The amount of BNB coins to be burned is based on the number of trades performed on the exchange within a 3-months period.
So after each quarter, Binance burns BNB according to the overall trading volume.


So What Exactly is a Trigger System ?

Whenever 1INCH DEX achieves a certain criteria , System will Trigger a Burn Event . This Trigger System can be considered a collection of Multiple Factors , once attained can automatically Trigger the Burn Event .

Triggers -

  1. 1INCH users Trading Milestones
Summary

Trading Milestones will depend on :

    1. Total Trading Volume of a User w.r.t to the 24hr Volume on 1inch DEX
    1. Trading Frequency = No. of Swaps made on daily/weekly/monthly basis by User
    1. Amount of a Single Swap
    1. 1inch Record Breaker [ NEW ]
    1. Trading Streaks
    1. Trading Combos [Trading LPs Directly]
  1. 1INCH DEX Overall Trading Volume
  2. We can add more ...

& Now Everytime 1INCH sets a New Record Under Point 1 & 2 , Trigger System will Activate the Burn .


Supply Reduction - DAO Shall decide by Snapshot Voting How much Supply [30%,40%,50%,60%] Must be Reduced from MAX supply of 1.5b .

Also After Every 10% Burn of Total Supply , Burn Trigger System will go under A Cool down until DAO redecides above criteria/parameters again .

3. Double Stable-Coin APY on DAO Treasury [Auto/Restake Partition/Farm]

The Idea is to Restake the APY earnings to Higher APY Projects so that Rewards can be Maximized . Also , Part of The APY reward generated can be used to Buy a collection of Top Tokens that Provide High APY on Single Asset Staking like Cake of Pancakeswap .

We can Vote thro DAO on how much part of generated APY revenue must be used to buy such coins with high APY

This Approach is generally Safe as our Principal Amount is safely being used in Top Tier Lending Protocols while the APY generated from that can be utillized even further in Higher APY projects .


The Blend -


New Fee Structure Implementation on Top of Reward Claiming

| Optional

I’ve Added Another Point if we should do it or not . Currently there are 0 Fee over Staking , so should we implement such Structure over ‘Claim Rewards after task completion’

Fees can be embedded into 2nd Point under ‘Claim Reward’ Before Claiming Rewards which will be auto deducted

Should be Voted As I don’t want it to be posed as an extra burden over the users using 1inch like BANKS or other DEFI projects

if user don’t complete the task he will have to Pay Performance Fee

If Implemented can create another source of income for the protocol

Keep in Mind that the Fee %ages Shown in picture Will Have a Weightage Decided in a Ratio of 40% by Instant Governance + 60% by 1INCH Founders or Team. This Creates an equilibrium


Also As @deacix said already that it’s bringing Huge Load to maintain DAO so I think we can also charge once a Quarter or an Year as a Performance fee proportion to the amount of token staked or may be only on the Claim Rewards

On chain Data -

On-chain data reveals, nearly 40 percent of those tokens have been either swapped or transferred to a centralized exam within 24 hours. Within a week, that rate has jumped to nearly 50%, and after 90 days, as we can see in the data below, 36.3% of tokens are considered “kept.” More than a quarter of these tokens, meanwhile, have been swapped for other currencies, with others being transferred to centralized exchanges.

TBC …

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Thank you for building!
i support this Big salad!

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Controlled Burning Deployment Procedure -

Current 1INCH Total/Max Supply - 1.5 Billion

Reducing Supply by Removing - 0.5 Billion [ Suggested / Voted ]

After Burn Total Supply will be - 1 Billion


PART A

Burning X Million Of 1INCH Total/Max Supply × Y Times = 500 Million TOTAL

  • Burning 125 Million 1INCH Supply × 4 Times … (1)
  • Burning 100 Million 1INCH Supply × 5 Times … (2)
  • Burning 10 Million 1INCH Supply × 50 Times … (3)

Note : After Every X Burn , A Cool - Down will start UNTIL DAO Governance Revaluates & Redecides If Burning should Continue or not thro Voting .
e.g. From … (1) " × 4 Times" Means that DAO has the Chance to start Voting 4 Times


Part B

from (1) , We can do this Burning in 2 Ways :

Burning 5 Million Tokens × 25 Times Or 1 Million × 125 Times

From (2) , We can do this Burning in 2 Ways :

Burning 4 Million Tokens × 25 Times Or 2 Million × 50 Times

From (3) , We can do this Burning :

Burning 0.4 Million Tokens × 25 Times


Part B is Connected to Trigger System That We Discussed Under Point 2 in " Revised 1INCH Tokenomics Upgrade : The Next Phase"

Now , if we use "5 Million Tokens × 25 Times: from above Part B ,
Then 5 Million of 1INCH tokens will be Burned on each Trigger Until We Burn 25 × 5 = 125 Million of tokens

Once 125 Million Token Burn Target reached , Cool - Down will Happen & DAO voting will start .

Repeating the Process until 0.5 Billion of Total Supply is Wiped Out


It’s 4 times So It can be ideal for next 4 year because of 4 year Vesting & the Token Inflation from that can be controlled . With this Burning , each year we can burn a total of 125 Million tokens & After 4 Year vesting Completes , by that time we’ll have 1 Billion Total Supply only

JUMP

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Hi @Genkai.Shogun, sorry if I missed something, but it is not clear to me where the burnt token would be coming from. Would those be tokens that have been bought on the market using protocol fees and accumulated till a burn event is triggered, or are you thinking of burning tokens from the not-yet-circulating supply?

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Nevermind, I just saw your post here, so the tokens burnt would be market-bought with protocol fees in case the community decided to go with option 2 suggested by k06a here.

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Hey Brother ! You’re right ,That’s The Idea …
But Actually I don’t think you even need to do a Market Buyback for a token burn . They can simply send tokens from multi - sig to a black hole address or annihilate it by other methods .

Like The Gas Refund that 1inch just rolled out . I think we can do same with burning

Like Part - A , 3rd option

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We have deflation proposals + token economy = we need formal proposals! :cowboy_hat_face:

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