This function will release a 2.5M SPARTA allocation to the Bond program. This will instantly allow anyone to perform Bonds, whereby they provide the TOKEN half of the TOKEN:SPARTA liquidity-add and have their resulting LP tokens locked up in the BondVault and vested back to the user linearly over 6 months.
Pushing this through the DAO will be a useful tool to help increase TVL (total value locked) when the community want to focus on expanding the reach of Spartan Protocol and bring in new users.
The bond program proved to be very popular in V1 and will no doubt play an important role in making the V2 user base increase and concurrently provide more liquidity to the Spartan Pools.
The world of cryptocurrencies is growing and expanding more every day. Having a decentralised exchange that reflects the interests of the community that engage with it is paramount. When the community decides on having a bond-enabled asset added/removed, rather than sending a Twitter barrage to the devs of a project, they can come to the DAO and vote for the change to be put into action immediately.
This is more than likely going to be the more popular proposals to be getting pushed through the DAO as it allows the community to be able to propose and vote on which tokens they want to be listed as an asset that can be utilised in the Bond program. On successful completion of this proposal, these tokens would be automatically enabled/disabled for Bonding. The real beauty of this is that it is completely resistant to external entities, governments and bad actors getting in the way of that decision.
Being able to turn the emissions off or on again offers several advantages within the ecosystem. Turning off base emissions would cause Spartan Protocol to have its incentives fade away. This means that there would be less incentive for liquidity providers, potentially leading to reduced total value locked (TVL). If voted through, the total supply would pause causing the tokenomics to effectively turn off the inflation which would be very good news for token holders. Although if TVL is reducing then one would expect the token price would reduce with it, but this may be a worthwhile choice depending on the situation.
Conversely, the opposite would be expected should the emissions be turned back on after a period of being off for whatever reason the community see fit.
Long since leverage was introduced to the world of cryptocurrency, users have maximised its usage and for the talented amongst them, they have reaped unbelievable rewards. This was an option that until now, only the centralised exchanges were able to offer.
A curated pool is a special type of pool that enables:
Synthetic assets to be minted on top of it
It's LP tokens to be used as weight in the DAOVault for harvest rewards & DAO proposals
Conversely, should a curated pool fail to hold the approval of the community, a proposal can be pushed through to remove the special status and have the pool returned to being a regular liquidity pool.
When somebody pushes a proposal, the community will come and vote on whether or not they agree with it. Once a majority has been attained and the proposal reaches enough weight to switch to finalizing status, there is a mandatory window where it needs to stay above the required weight otherwise it won't finalize-able.
This cooling-off period allows the community/Dao time to educate everyone if it's a bad proposal and allowing those who oppose it to add liquidity to the pools to get enough weight to vote against it. The community may decide that they want a bigger window for proposals to be voted through, or to make the time shorter if that's what they feel is best for Spartan Protocol.
Once per day, Sparta is emitted to the reserve contract which controls the flow of that SPARTA to the pools and end-users via the incentive streams. The Eras to Earn is essentially a measure of how aggressive the DAO Vault harvest rewards are.
It's always been designed to be set at 30 days so that whatever amount is in the reserve, it takes 30 days for it to deplete if emissions were turned off. Emissions are set within the protocol to remain at the same rate as that so that by default, the input/output of tokens to the reserve contract will remain fairly equal (if set to 30 days).
Community members can propose to either increase or decrease the distribution rate from the reserve contract to either allow a more aggressive reward system to the pools and liquidity providers or to slow things down, essentially building up a small reserve within the contract to be distributed at a later date.
Being able to vote through a grant is what could be used to encourage the driving force behind any future developments. The vision behind the DAO is that Spartan Protocol becomes a self-governing community project that does not require any maintenance or upkeep. This means that the project can run indefinitely without any interactions from its developers.
Whilst the contributors will remain active, the community may decide that they want a large upgrade, or to introduce a whole domain of new features which could range from extra deflationary measures, or additions that could generate extra revenue streams for Spartan hodlers such as a lottery or interactive games. The community can vote through a grant which would allow financial incentive and reward to those involved with any new developments that the community may call for.
Changing the DAO contract is a concept that may be of not much use at the moment. However, in order to future proof the Spartan Protocol, there may come a day where a modification or upgrade will need to take place within the DAO itself.
A contract change will allow the devs to be able to implement changes as the community request them. This will allow Spartan Protocol to remain fit for use no matter what changes may take place in the future of DeFi.
Another contract change proposal which has to be included to ensure that Spartan Protocol is as future proof as possible. The contract address should never require a change in an ideal world, but that would be short-sighted and close-minded to assume that this will never be required.
This contract is where the community can choose to modify or completely remove the fee burn. As mentioned in the tokenomics section, the fee burn sits between 0% and 1% depending on the circulating supply.
If we wanted to change the feeBurn percentage in the future it would be done by changing the UTILs contract to new one with the burn rate removed, or modified, depending on what the community want.
The reserve contract is where the emissions are sent before being distributed to the end users. Just like the router contract address, this will most likely never need to be voted through however is always best to be safe and make sure we are as future proof as possible.