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Piero's Statue

Yield farming

Overview:

  • A form of yield farming
Commemorating the last MIND who knew the secrets of creating more [CRX], Piero’s statue is a beloved reminder of MIND History. Another reason everybody is fond of it is its uncommon ability to bring back more [CRX] for token offerings left with it. In itself, Piero’s statue is a form of staking LP tokens and receiving [CRX] tokens. Most people think that this is just a statue of the famous alchemist Piero Da Vinci, the last crafter of Cortex. This, however, is not the whole truth. Piero, gathering some raw material from Monroe Maw, managed to trap himself in stone. Alas, the stone was not dead but forever imbued with the spirit of Piero himself.
Piero now provides an avenue for liquidity providers to receive [CRX] tokens. You will receive [CRX] to use in the MIND Games for certain important items, skills, and talents!
In MIND Games, our very own Piero is our portrayal of yield farming. He receives individual ”Offerings” which can profit from grants by anyone who joins forces with him. Each “Offering” (LP Pair) will give you details on the total share you receive from this grant. Piero studies each offering intensely and you can see this as a timer on each pair. Once he finishes his study, he awards you with your part of the yield representing your share of [CRX] tokens.
Sensors and Melders will be able to help ”PIERO” and earn [CRX] based in part on your total stake in a certain “Offering”.

Issuance Schedule

The issuance of [CRX] as a reward for staking CRX-LP tokens as offerings with Piero’s Statue will change for each Epoch.
The Epoch is 50,190 blocks on the Ethereum Network and the length depends on the average block speed.
Epochs were calculated to 50,190 blocks so that each Epoch would equal one week assuming a ~12 second per block on the Ethereum Network. If block speeds are longer or faster than 12 seconds on average, then an Epoch will last more or less than one week. Note: Deployed on Arbitrum One our Mastermind uses Ethereum blocks for emissions. Block: 16749702 Epoch 1: 12x multiplier = ~12 [CRX]/block
Block: 16799893 Epoch 2: 8x multiplier = ~8 [CRX]/block
Block: 16850084 Epoch 3: 6x multiplier = 6 [CRX]/block
Block: 16900275 Epoch 4: 4x multiplier = 4 [CRX]/block
Block: 16950466 Epoch 5: 4x multiplier = 4 [CRX]/block
Block: 17000657 Epoch 6: 4x multiplier = 4 [CRX]/block
Block: 17050848 Epoch 7: 2x multiplier = 2 [CRX]/block
Block: 17101039 Epoch 8: 2x multiplier = 2 [CRX]/block
Block: 17151230 Epoch 9: 2x multiplier = 2 [CRX]/block
Block: 17201421 Epoch 10: 2x multiplier = 2 [CRX]/block
Block: 17251612 Epoch 11: 2x multiplier = 2 [CRX]/block
Block: 17301803 Epoch 12+: 1x multiplier = 1 [CRX]/block
Visit Ethereum Block Explorer​ to see the current block and block speed. We recommend viewing the block speed on an average daily/weekly when trying to plan your strategy.

Locking

Piero’s Statue grants locked [CRX] based on a timeline that begins once the LP is deposited.
The [CRX] tokens will unlock over a period of time. The process divides into epochs that are around a week long. The first Epoch (Week) will give you the 5% threshold unlocked tokens from the total [CRX] received. Starting with the second Epoch onward, every Epoch (Week) will provide an additional 2% on top.
For example:
1st Epoch (Week) - 5% unlocked and 95% locked 2nd Epoch (Week) - 7% unlocked and 93% locked 3rd Epoch (Week) - 9% unlocked and 91% locked 4th Epoch (Week) - 11% unlocked and 89% locked
The total number of Epochs is 50. The last Epoch will provide unlocked [CRX] from the entire [CRX] received as a liquidity provider.
Claimed locked [CRX] will remain locked until block 19259202 which marks the end of Epoch 50. Locked rewards will start unlocking via a 2% vesting schedule for the following 50 Epochs.
Piero Statue will inform users regarding the amount of [CRX] received in total, how much is available for unlocking at that moment, and how much is locked at that time. Users can choose to unlock the total [CRX] received at a particular time, before the end of the 50th Epoch, however, they will only obtain the unlocked portion of it. The rest will be locked in the deep magma layers of Monro Maw, from where you will start to acquire them via the vesting schedule. This model helps us migrate from the simple DEX economics to the in-game economics combining the DeFi tools with gameplay and creating a synergy that will nourish them both. If the tokens were to unlock at any given time, this would incentivize the farm and dump mechanics. This way, we ensure that the long-term sustainability of the token will always be relevant to the ecosystem that we are taking part in.

Locking Model - Early Unlocking with Researchers and MIND NFTs

We are implementing the ability for Researchers and MINDS to work together and unlock [CRX] tokens early with Cryptography Missions. The researcher's Talents and MINDS stats will determine the amount of [CRX] unlocked after each quest.

Piero’s Statue Staking Deposit and Withdrawal Fees

There are no deposit fees for staking LP tokens with Piero’s Statue. We are implementing withdrawal fees for withdrawing staked LP tokens to protect against flash loans and, pumps and dumps. Each withdrawal resets the fee timer.
The withdrawal fees are listed below:
0.01% fee if a user withdraws after 4 Epochs 0.25% fee if a user withdraws after 2 Epochs but before 4 Epochs 0.5% fee if a user withdraws after 5 days but before 2 Epochs 1% fee if a user withdraws under 5 days. * 2% fee if a user withdraws under 3 days. * 4% fee if a user withdraws under 24 hours. * 8% fee if a user withdraws under 1 hour. * 25% slashing fee if a user withdraws during the same block.
*Days/Hours listed assume a ~12 seconds per block speed during such period and will depend on Ethereum Blockchain speed.
All the fees collected from withdrawals on each pool will be distributed to the Treasury.