SecretSwap
Search…
CSHBK Token
CSHBK token is a mechanism to incentivize trading activity on SecretSwap.
Traders on SecertSwap who swap SCRT on eligible pairs (SCRT -> SecretTokens or SecretTokens -> SCRT) receive cashback in the form of CSHBK tokens. The CSBCK tokens that a trader receives are proportional to the volume of the swap. If Alice swaps 100 SCRT, Alice receives .5 CSHBK. Alice can Burn her CSHBK tokens to receive SEFI tokens and participate in governance of SecretSwap. The CSHBK -> SEFI mechanism works as follows:
• The CSHBK token contract continues to accumulates SEFI tokens. The address of the CSHBK contract is secret1eckd8jyjjz5qvse3t42qnepy4ywg9qj6hlh46s .
• 0.5% of all SEFI distribution goes to the cashback rewards contract. This amount is subject to change by SEFI-based governance.
• The CSHBK Alice gets for trading is minted directly to her account.
• As Alice burns her CSHBK, she receives SEFI from the pool proportional to her CSHBK share.

### Eligible Pairs

• sSCRT / SEFI
• sSCRT/ sWBTC
• sSCRT/ sUSDT
• sSCRT / sETH
• sSCRT / sRUNE
• sSCRT / sRSR
• sSCRT / sUNI
• sSCRT / sOCEAN
• sSCRT / sYFI
• sSCRT / sDAI
• sSCRT / sMANA
The eligible pairs are subject to change by SEFI-based voting.

### Cashback Rate

The Cashback Rate is a percentage that represents what is the portion of trading fees a trader gets back in the form of SEFI at a given moment. The rate is calculated as follows:
$\text{cashback rate} = {\text{accumulated SEFI tokens} \over \text{CSHBK total supply}}$
. The Cashback Rate is transient and could change every block, since on every block new SEFI rewards get accumulated in the pool while also new CSHBK get minted. Note 1: the Cashback Ratio becomes fixed only when burning CSHBK and only for the CSHBK tokens that get burned, i.e. the moment in which a user gets his CSHBK from trading does not determine the Cashback Rate for these tokens. Note 2: burning CSHBK does not change the Cashback Rate.
On the one hand, SEFI rewards in the cashback pool continue to increase, but on the other - so does CSHBKsupply. This creates an interesting dynamic as the rate of growth between SEFI rewards and CSHBK determines whether it’s better to hold off or redeem constantly.