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README.md

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GLM Stake Pool

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).

 

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.
  1. 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).

 

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...  

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}

Then,

  • All of tests
$ npm run test
  • Only test of the Stake Pool contract
$ npm run test:stake

 

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.
  • 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).