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Piero's Statue
Yield farming
- 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.
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”.
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
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.
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
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.
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.
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.
Last modified 6mo ago