Ultra Staking

Solving the "Volume Problem"

A large problem many RFT tokens like GLASS face is their decrease in volume often leads to their death. As No Volume = No fees= No yield=No buyers and so on. What all RFT tokens need to survive is endless volume. There needs to be constant movement of tokens so that users are encouraged to buy and hold. Ourglass strives to be the first to solve this. In order to achieve this, users need to be tempted to move their tokens despite the fee. Because in the end, the user wants to come back with more coins than he originally moved. And this is hard to achieve with a 10% fee. The reward for moving his coins has to be more than a 10% gain.

Lottery Fund

To solve the volume problem we created a daily lottery that entices GLASS holders to deposit GLASS in exchange for a chance to win a lottery. The Lottery Fund is a smart contract that holds glass and pays out to lottery winners. When a user deposits glass into the fund, 90% of the GLASS goes to top up the lottery fund, 8% instantly goes to anyone else who ever deposited GLASS based on how much GLASS they have deposited over the entire time. The more a user has deposited, the bigger chunk of the 8% the user gets. At the end of 24 hours, 2% of whatever is in the lottery fund is divided evenly between 2 wallets. the largest depositor of that day, and random depositor from that day.

Lottery Prize

A deposit is only valid for the lottery for the day it was deposited and a deposit can never be withdrawn BUT you do earn cashback on the deposit daily forever (see Infinite Deposit Drip). You only need one deposit to win for the day and doing more than one deposit in a day gives you no advantage to winning a lottery prize, although it does give you more deposit yield. At the end of the day, the contract will select a random address that deposited the minimum required to become eligible for the drawing that day (as of this writing 3Billion GLASS) and the largest cumulative depositor.

Please note: You do not have to account for glass rft fees when depositing.

Example: You can deposit 3 Billion GLASS instead of 3.3 Billion. Also note, the 3 Billion has to be done in 1 transaction to qualify.

Infinite Deposit Drip

When a user makes a deposit they are only eligible for that day's lottery and it can not be withdrawn. But the deposit does produce yield forever(or the life of the contract/blockchain). 8% of GLASS used to deposit is instantly sent to every address that ever deposited based on how many GLASS they have locked away. These rewards can be claimed instantly. There is also a continuous 2% drip of GLASS from the 90% top-up that is distributed to previous ticket holders over the course of 24 hours that can be claimed every second BUT are sent back to the top-up fund if they go unclaimed when the lottery timer hits 00:00:00 for the day. Drip rewards are paid forever to the user daily, but the drip amount the user receives will fluctuate slightly up and down as other players deposit and claim rewards.

Example: If a player only makes one deposit, their daily deposit drip will slowly decay over the months and years as their share of the drip fund will likely decrease.

Unclaimed Rewards

Users have 24 hours from the start of each day's lotto to claim any rewards they made that day, including lottery winnings and referrals. If the users' rewards are not claimed that day they are sent back to the lottery fund. Rewards can be claimed as many times during the day as the user pleases.

Please note: The rewards from staking the minimum 3Billion Glass will likely be too small to be worth claiming because of BNB transaction fees. Any small deposits should be looked at as an entry into the days lottery and not for deposit drip.

Referrals

If a user clicks on another users' referral link and makes a deposit, they will get 3% of whatever the referral deposit. This will also force only 87% to go to Lottery Fund instead of the standard 90%. To be eligible to use the referral program, the user must have already deposited at least 3 Billion GLASS.

Game Exploit Protection

To protect the community from gamification exploiters, we have put in place criteria that have to be met for each player.

The minimum entry to be eligible for the lottery is 3Billion Glass to prevent spam.

Anyone that deposits at least 3billion glass that day can win the random lottery. But, a user must deposit more than he has claimed in rewards since first depositing to be eligible to win the largest depositor. The wallet can still deposit and receive the daily drip from those deposits, but it can not win the largest depositor lotto.