Stake Swap
Last updated
Last updated
Stake Swap is a unique feature of Grabity DEX in which 100% of tokens staked within a contract are burned in return for high rewards. Stake Swap contracts last during a specific time frame. Stake Swap was designed for 2 main purposes: 1) provide project owners with an effective tool to swap old project tokens to new project tokens with a modified vesting schedule, and 2) create a deflationary mechanism for GBT.
Stake Swap contracts are executed in the following steps:
User deposits a token in a Stake Swap contract.
The quantity of tokens deposited into the contract by the user is displayed on the corresponding contract details.
Rewards distributed per block are credited to the user proportional to the total deposit.
Once the Stake Swap contract expires (when all rewards are distributed), all tokens deposited in the contract are burned.
As the first use case of Stake Swap, Grabity will launch a dedicated Stake Swap contract to swap existing GBT (0xa4b0574d8634b9514e89174c67400f5f947d1dd1) to new GBT (0x7442c62db4a07615f822a8a43d318eaef9edf0c2). Over the past years, a notable amount of GBT has been lost due to bankruptcy of centralized exchange where GBT was listed on and short-term holders not following the previous swap guidelines. To address this issue, Grabity has issued a new token as a BEP-20 standard to reward loyal holders with lost tokens by committing the quantity of tokens in circulation plus the quantity of lost tokens into the Stake Swap reward pool. Leveraging Stake Swap enables Grabity Foundation to redesign the token allocation and apply an improved vesting schedule to drive positive market dynamics for GBT.
