SCRTon eligible pairs (
SCRT-> SecretTokens or SecretTokens ->
SCRT) receive cashback in the form of
CSBCKtokens 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
CSHBKtokens to receive
SEFItokens and participate in governance of SecretSwap. The
SEFImechanism works as follows:
CSHBKtoken contract continues to accumulates
SEFItokens. The address of the
SEFIdistribution goes to the cashback rewards contract. This amount is subject to change by
CSHBKAlice gets for trading is minted directly to her account.
CSHBK, she receives
SEFIfrom the pool proportional to her
SEFIat a given moment. The rate is calculated as follows:
SEFIrewards get accumulated in the pool while also new
CSHBKget minted. Note 1: the Cashback Ratio becomes fixed only when burning
CSHBKand only for the
CSHBKtokens 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
CSHBKdoes not change the Cashback Rate.
SEFIrewards 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
CSHBKdetermines whether it’s better to hold off or redeem constantly.