ZZZv2: Let’s Spill Some Beans

We’re so glad to have you at ZZZ ! Thanks for dropping by and reading this article, and a special Thankyou to all the ZZZ OGs and holders who have held firm in anticipation for our massive ecosystem upgrades

Strategy & Objectives Of v2 Upgrade.

Sustainability is key in DeFi, and we have unanimously agreed that ZZZ is in urgent need of a transition to a more sustainable model with multiple revenue streams, rather than only NAP income. The strategy is to integrate external tokens into our ecosystem for value add and cross exposure, and we are beefing up our partner platform to now allow any project to have their pools on ZZZ and they can farm other tokens as long as they provide the seeds. This means that, projects no longer need to risk bugs and mistakes in setting up pools, ZZZ will build them for you on our platform, but we will just add our multiplier contract on top to allow increased spending and transaction volume on our tokens.

The Vaults

ZZZv2 along with NAPv2 will be accompanied with a 1.5% network fee on all buys, sells and swaps. Where do these fees go ? They will be the new permanent seed for our vaults. Here is an example below

ZZZv2/ETH LP -> 1% of ZZZv2 tx fees as rewards

ZZZv2 -> 0.5% of ZZZv2 tx fees as rewards

ZZZv2/NAPv2 -> 1.5% of all NAPv2 tx fees as rewards.

All vaults will have the following multiplier contract attached.

4x Boosts multiplier

On partner pools and DREAM pools the 4th Boost will Rotate between Spend RFI, Burn COVAL, Burn AXIOMS, Spend LINK across various pools.

ZZZ Global Boost Re-Defined

Previously, you had to Hold/Stake X amount of ZZZ to be eligible for the global boost. That all changes in V2. Our now ZZZv2 Vault will be the home of our new Global Boost. How does it work ? It’s simple. We only want to give multiplier boost to those who actually support the network and LOCK their ZZZ long term. So the following adjustments have been made.

DREAM Pools Re-Launch with DREAM Eater

Welcome to the Dream Eater, our crazy innovation monster that gobbles up DREAM per block for up to 50% global boost. Make sure you are farming DREAM in all our DREAM pools tho, once your DREAM Eater is empty you lose the Dream Boost, Youn need time keep it constantly filled.

Dream Eater Setup.

Changeable Burn Rates

Dream Pools.

Repeat v2, v3, v4 of said pools to collect the tokens for WBTC, WETH, USDT, LINK vaults in Q1 2021

Why Should I Migrate to v2 ?

Basically, If you don’t want to join the pools. There will be a swap button that’s 1:1 that runs for a week. You can migrate 1:1 without going in the pools

But it’s best to join the migration pools. As it will do the migration for you automatically and you will be able to claim your rewards and stake in v2 tokens.

If you miss the entire 14 days for migration in either pools or straight swap. There is no more 1:1 swap after the deadline ends. You would have to swap zzz to zzzv2 @ market value after the 14 days are up.

So it’s best to do the swap. Or else you may be holding on to a ZZZ token that would most likely have no liquidity as it would all be migrated to v2

How To Migrate ?

ZZZ Migration pools will be going live within 24–48 Hours.

There will be 4 migration pools.

ZZZ -> ZZZv2

NAP -> NAPv2

ZZZ/NAP -> ZZZv2/NAPv2

ZZZ/ETH -> ZZZv2/ETH

These migration pools will be seeded with NAPv2 as the rewards, which will only be claimable upon withdrawing from the pool.

Withdrawing is only available after the migration pool has finished its duration.

At the end of the duration of the migration pools, a snapshot will be taken of the ZZZ/ETH and ZZZ/NAP prices. ZZZ/ETH and ZZZ/NAP will be unwrapped, we will create the new liquidity pairs at the ratio that the snapshot captures, and we will then re-wrap peoples tokens to create the ZZZv2/NAPv2 and ZZZv2/ETH LP tokens.

Around 1 week into the Migration Pools, we will deploy ZZZv2 and NAPv2. In these token contracts, users will be able to swap their old v1 tokens for v2 tokens at a 1:1 ratio.

Transfers/trading of these v2 tokens will be restricted until after the Migration Pools have finished (to prevent people fucking up the liquidity add ratio).

Once this trading Restriction is lifted, you will no longer be able to swap v1 -> v2 at a 1:1 ratio. You will only be able to trade V1 with v2 tokens at market value on uniswap, whatever that may be. Just like any other token.

After these pools end, an LGE will run for 72 hours accepting ETH. 50% of this will be used to market buy ZZZv2 and wrap those together to provide LGE participants ZZZv2/ETH LP.

Now, for the ZZZv1 and NAPv1 that doesn’t get migrated. We are re-minting up to max cap of 20k ZZZv2 and 20m NAPv2 so we can complete our max supply for v2.

The new minted tokens that weren’t migrated will be used to boost the vaults APY, and sent to uniswap for the LGE and trading of v2.

NOTE: None will be kept by team or treasury (on par with zzzv1 100% distribution model).