Divine DEX — (5,5)
To improve is to [ex]change; to be perfect is to [ex]change often.
TLDR; Divine Creatures DAO is creating an exchange for reserve currency protocols only. User can generate percentage rewards of all reserve currencies on the protocols by cycling the money through our exchange pools. Liquidity will be funded from our treasury and through special exchange bonds. Participation in staking, bonding and exchanging yields (5,5) strategy.
What is the ethos of Divine Creatures DAO
Divine Creatures DAO aims to accumulate a treasury of the best and most high-quality treasury assets of other protocols. Thus, becoming a treasury of treasuries. However, we do not only seek to hold these tokens in our treasuries, but we also aim to give our users an exposure to these treasury assets.
How will we expose user to multiple assets? Through our innovative Divine DEX (5,5) Strategy.
The Divine DEX is built around the idea of being an exchange for treasury tokens only. The underpinning feature of the DEX is to provide the deepest liquidity for these pairs yet.
Now why would anyone want this?
The answer is simple, to collect rebase rewards from each individual project, amplifying returns manyfold.
Up until now there has been barely any liquidity between cross pairs of treasury tokens, thus preventing this kind of farming strategy from working. Divine Creatures changes this.
To aid creatures in harvesting gains from multiple projects, we will build a global rebase timer, which will accurately indicate at what time, which token will rebase. This will allow creatures to see and chose into what assets they want to rotate into to earn the rebase.
For example:
If the chronological rebase time for the following tokens are like this
The pools will be structured in the following way:
•aEGIS/wMEMO
•aEGIS/gOHM
•aEGIS/sHEC
•aEGIS/sEXOD.
The user can then collect:
•Rebase from aEGIS > rotate to wMEMO
•Rebase from wMEMO > rotate to gOHM
•Rebase from gOHM > rotate to sHEC
•Rebase from sHEC > rotate to sEXOD
•Rebase from sEXOD > rotate to aEGIS
•Rinse and repeat 3x daily
At the time of writing the current rebase fees for each protocol are as follows:
•wMEMO = 0.59%
•gOHM = 0.35%
•sHEC = 0.56%
•sEXOD = 0.48%
•aEGIS = predicted 0.9%
This means from 1 whole cycle the user can make 3.78% returns, do this 3 times a day and you can make 11.34%.
Divine Creatures DAO will later find a way to automate this process for the users, bringing in huge rewards daily. However, by leaving it manual at first, users can select which currencies they like/don’t like.
How does DEX affect the treasury and $EGIS price?
Divine Creatures DAO will levy a fee on these pools (but still much less than each individual rebase ensuring total profitability). Majority fees will go to the Divine Creatures DAO treasury as revenue, with a small part of the fees going to the Divine Creatures team as admin fees.
The liquidity pools will be initially supplied by our DAOs treasury reserve. To supply liquidity, we will introduce a new type of bond — Exchange Bond — that will have higher mint rate (ROI) than other bonds. Parts of proceeds from those bonds will be added to the liquidity protocol automatically. We are in the process of writing contracts for those bonds. Fees levied from the protocol will feedback the treasury.
What is (5,5)?
Exchanging, staking and bonding will create the strategy that we are calling (5,5). By participation of all parties in all functionality of the protocol, users can not only yield maximum growth for Divine Creatures token price and treasury but also maximum rewards for themselves — through simultaneous collection of rewards in multiple project . What more can you want from a true Treasury of Treasuries?
Stay connected, Stay Divine (🧜🏻♂️,🧜🏻♂️)
Website: https://divinedao.finance
Discord: https://discord.gg/dcdao
Twitter: https://twitter.com/dcreaturesdao
Deck: https://divinedao.finance/deck
