# Codename Tesseract

## Overview
1. Vaults
a) fork strategy from yearn, for start we do just aave and curve strategies ([contracts Github repo](https://github.com/yearn/yearn-vaults))
b) [Reward] distribute our token to LPs (define how much)
2. Staking
3. reward in our token
a. [Reward] stake and lock like in EPS - user that lock our tokens for 3 months are eligable for apy in our token and % of protocol fee ([EPS contract staking for fee](https://github.com/ellipsis-finance/ellipsis/blob/master/contracts/EpsStaker.sol) - note that this one doesn't distribute token rewards)
b. [Reward] sushi/quickswap LPs - user that LP in TSR/ETH or TSR/DAI is eligable for apy in our tokens
3. yearn vesting
a. weekly snapshots by yearn team.
b. user come and can claim their share for a week
c. penalty for exit 50% like eps
4. DAO - staked tokens have voting rights (phase2)
## UI
0. In this phase we dont have anything cool.
1. fork yearn for vaults ([Github repo](https://github.com/yearn/yearn-finance))
2. fork eps for claim, penalty, stake and lock like eps

## team tokens
1. out of that
1. 20% - Luka,
2. 20% - Val,
3. 20% - Nemo,
4. 20% - MVP Workshop,
5. 20% - future team.
2. How long should we be vesting - val?

## responsibilities
Nemo, Luka - everything around partnership, business dev, marketing, product,
Val - auditing and strategies, product, liasoning with Yearn core group
NF - development blockchain & frontend with Val as advisor, also product if you want

Approach is simple, we see all 4 parties as cofounders, meaning we are all on same page that we want this product to succeed, it should be approached as never ending product (like a startup) and communicated publically as such.

## future possible developments
1. multi chain farms
2. leveraged farms like alpha finance
3. anything else we get our brain on!

## Project scope:

1. Fork the frontend of https://yearn.finance/ with a separate branding and a new Dashboard UI.

2. Fork yearn finance contracts and deploy it on Polygon https://yearn.finance/vaults (phase 1 - leveraged AAVE and curve strategies, Phase 2 - other selected strategies as they become live on Polygon)

3. Apply for a grant to Polygon and AAVE to secure funding for 6-8 months of development

4. Apply for a grant from Polygon for initial Liquidity

5. Prepare, create and launch a DAO(?)with a balanced token economics

- a large portion fo the tokens (and fees) will go directly to yearn holders(?)

- based on EPS model we plan to distribute 25% of tokens on a weekly airdrop bases to yfi snapshot holders, banteg would make those snapshots

- will be based on EPS
https://morioh.com/p/3803ec947a3e
https://research.binance.com/en/projects/ellipsis
https://www.reddit.com/r/SatoshiStreetBets/comments/mf10am/i_may_have_found_a_gem_ellipsis_finance_5_days/

and / or Alchemix

https://alchemix-finance.gitbook.io/alchemix-finance/token-distribution
https://alchemix-finance.gitbook.io/alchemix-finance/token-distribution/alcx-monetary-policy
https://twitter.com/0xdef1/status/1388938954133626888?s=19

6. There will be a reserved token allocation for the founding team (based on above mentioned projects) and the release schedule

7. we should reserve up to 10% of tokens for future essential personel (Employee Token Option Pool)

# TOKEN ECONOMICS

The EPS model:

* 20% of the tokens go to the dev team
* 25% are airdropped to the YFI holders
* 55% are distributed in liquidity mining programs
* 20% of the liquidity mining tokens go to a TESR/USDC pool on Quickswap OR SushiSwap
* 80% are put in a MasterChef contract and distributed there. I think we use the emission schedule of EPS to distribute over 5 years: https://morioh.com/p/3803ec947a3e

The farming strategies are going to charge performance fee. The perf fee will be split into 2 parts:

* 50% of the fee goes to the strateist
* 50% of the fee goes to the protocol

The platform fee should be distributed to the TSR tokens. I think we shouls make a special vault for that, where only the ppl that stake TSR receive these funds. We can make something like sushi, where the fees are used to purchase TSR and add it into the vault, so ppl will be able to withdrawl more TSR over time.

I think the fees should be the case like in yEarn V2 - 2% management and 20% performance: https://docs.yearn.finance/faq#what-are-the-fees