vlask
February 11, 2022, 4:55pm
1
Strike Finance will propose to set strike speeds for supply and borrow individually.
In order to prevent STRK dumpers who only supplied and sell STRK, Strike Finance will assign the original STRK rewards 30% to supplier and 70% to borrowers.
Therefore, only royal strike protocol members can earn high STRK rewards in borrowing.
1 Like
ennui
February 12, 2022, 11:46am
2
Checking the transaction log, the strike speeds seem to have been changed to the following, is there a mistake? Particularly on ETH and STRK
Asset
Previous
New Total Rewards
ETH
10000000000000000
0
USDT
10000000000000000
10000000000000000
USDC
10000000000000000
10000000000000000
BUSD
8333333333333330
8333333333333330
LINK
1666666666666670
1666666666666670
UNI
1666666666666670
1666666666666670
WBTC
10000000000000000
10000000000000000
COMP
1666666666666670
1666666666666670
SXP
1666666666666670
1666666666666670
STRK
16666666666666700
1666666666666670
ennui
February 12, 2022, 12:02pm
3
Simulating it in a ganache fork, can confirm the outcome doesn’t match the current distribution rates:
After queue(9) and execute(9), this is the outcome of
for i in strk.getAllMarkets(): print([i, strk.strikeBorrowSpeeds(i), strk.strikeSupplySpeeds(i)])
['0xbEe9Cf658702527b0AcB2719c1FAA29EdC006a92', 0, 0]
['0x69702cfd7DAd8bCcAA24D6B440159404AAA140F5', 7000000000000000, 3000000000000000]
['0x3774E825d567125988Fb293e926064B6FAa71DAB', 7000000000000000, 3000000000000000]
['0x18A908eD663823C908A900b934D6249d4befbE44', 5833333333333330, 2500000000000000]
['0x3F3B3B269d9f7088B022290906acff8710914be1', 1166666666666670, 500000000000000]
['0x280f76a218DDC8d56B490B5835e251E55a2e8F8d', 1166666666666670, 500000000000000]
['0x9d1C2A187cf908aEd8CFAe2353Ef72F06223d54D', 7000000000000000, 3000000000000000]
['0xb7E11002228D599F2a64b0C44D2299C9c644ff26', 1166666666666670, 500000000000000]
['0xdBee1d8C452c781C17Ea20115CbaD0d5f627a680', 1166666666666670, 500000000000000]
['0x4164e5b047842Ad7dFf18fc6A6e63a1e40610f46', 1166666666666670, 500000000000000]
ennui
February 12, 2022, 12:23pm
4
Also, because strikeAccrued for supply is determined by mul_(deltaBlocks, supplySpeed), where
supplySpeed is strikeSupplySpeeds[sToken] in the new code
supplySpeed is strikeSpeeds[sToken] in the old code
This means all rewards are effectively halved, since for instance supply USDT drops from 10000000000000000 to 3000000000000000, and borrow USDT drops from 10000000000000000 to 7000000000000000.
vlask
February 14, 2022, 10:16am
6
Your calculation wrong as supply and borrow speed should be splitted by original speed therefore if original speed 10000000000000000, this value should vary to supply and borrow
ennui
February 14, 2022, 10:24am
7
strikeAccrued for supply is determined by mul_(deltaBlocks, supplySpeed), where
supplySpeed is strikeSupplySpeeds[sToken] in the new code
supplySpeed is strikeSpeeds[sToken] in the old code
borrowSpeed is strikeBorrowSpeeds[sToken] in the new code
borrowSpeed is strikeSpeeds[sToken] in the old code
Supply speed drops 70%, from supplySpeed of 10000000000000000 to 3000000000000000
Borrow speed drops 30% from 10000000000000000 to 7000000000000000.
Correct should be
Supply speed of 6000000000000000, supply speed drops 40%
Borrow speed of 14000000000000000, borrow speed increases 40%
Just for your team’s reference.
ennui
February 14, 2022, 11:46am
8
Just for teams reference,
SIP10 sets speed to 300000000000000 and 700000000000000, which is 10x less than 3000000000000000 and 7000000000000000
In table form and in exponent form,
Asset
SupplySpeed
BorrowSpeed
ETH
3E+14
3E+14
USDT
3E+15
7E+15