GLM Stake Pool

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【Introduction of GLM Stake Pool】

• This is a smart contract in order to provide the opportunity of yield farming for Golem's GLM token holders. (By staking uniswap-LP tokens that is a pair between GLM and ETH into the stake pool)

 

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【Workflow】

• ① Create UniswapV2-Pool between GLM token and ETH. (Add Liquidity)
• ② Create UNI-V2 LP tokens (GLM-ETH).
• ③ Stake UNI-V2 LP tokens (GLM-ETH) into the GLM stake pool contract.
• ④ Smart contract (the GLM stake pool contract) automatically generate rewards every week.
  • The Golem Governance Token (GGC) is generated as rewards.
  • Current formula of generating rewards is that:
    • 10% of staked UNI-V2 LP tokens (GLM-ETH) amount in a week is generated each week.
    • Staker can receive rewards ( Golem Governance Token ) depends on their share of pool when they claim rewards.
• ⑤ Claim rewards and distributes rewards into claimed-staker. (or, Un-Stake UNI-V2 LP tokens. At that time, claiming rewards will be executed at the same time)

 

• Diagram of workflow.

 

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【Technical Stack】

• Solidity (Solc): v0.5.16
• Truffle: v5.1.60
• web3.js: v1.2.9
• Node.js: v11.15.0
• Libraries
  • @openzeppelin/contracts: v2.5.1 etc,...  

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【Setup】

① Install modules

$ npm install

② Add .env to the root directory.

• Please reference .env.example to create .env

③ Compile & migrate contracts (on Rinkeby testnet)

$ npm run migrate:local

④ Test (Mainnet-fork approach with Ganache-CLI)

$ ganache-cli --fork https://mainnet.infura.io/v3/{YOUR INFURA KEY}

(Ref：https://medium.com/@samajammin/how-to-interact-with-ethereums-mainnet-in-a-development-environment-with-ganache-3d8649df0876 ）
(Current block number @ mainnet: https://etherscan.io/blocks )

Then,

• All of tests

$ npm run test

• Only test of the Stake Pool contract

$ npm run test:stake

 

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【Remaining tasks and next steps】

• Replace GLMMockToken contract (GLMMockToken.sol) with official GLM token contract (NewGolemNetworkToken.sol).
• Additional implementation of GLM stake pool between GLM-ERC20. (Currently, this is in progress)
• Additional implementation of the Golem Governance Token (GGC) and governance structures (e.g. Community voting function by GLM token holders)
• Add liquidity pool of the Golem Governance Token (GGC).
• Implement the front-end (UI).

 

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【References】

• Golem

  • GLM contract
    https://github.com/golemfactory/gnt2/tree/master/gnt2-contracts/src/contracts/GNT2

  • ERC20 token migration（GNT -> GLM)
    https://blog.golemproject.net/glmupdate/

  • GLM Migration Tracker
    https://glm.golem.network/

  • Golem Hackathon resources
    https://github.com/golemfactory/hackathons

  • Awesome Golem
    https://github.com/golemfactory/awesome-golem

  • Doc
    https://handbook.golem.network/introduction/golem-overview#golem-architecture

  • Golem Network Hackathon
    https://gitcoin.co/issue/golemfactory/hackathons/4/100024409

• Test (Mainnet-fork approach with Ganache-CLI and Infura)
  https://medium.com/@samajammin/how-to-interact-with-ethereums-mainnet-in-a-development-environment-with-ganache-3d8649df0876
  (Current block number @ mainnet: https://etherscan.io/blocks )