Platform Overview

Valgrind (Boardroom)

• Epoch duration: 6 hours

• Deposits / Withdrawal of VSHARE into/from Valgrind will lock VSHARE for 6 epochs and VAL rewards for 3 epochs.

• VAL rewards claim will lock staked VSHARE for 6 epochs and the next VAL rewards can only be claimed 3 epochs later

• Distribution of VAL during Expansion

  80% as Reward for Boardroom VSHARE Stakers 15% goes to DAO fund

  5% goes to DEV fund

• Epoch Expansion: Current expansion cap base on VAL supply, if there are bonds to be redeemed, 65% of minted VAL goes to treasury until its sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate

Valgrind information (Boardroom)

Next Seigniorage indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)

APR refers to the simple returns in USD value relative to the amount of VSHARE staked (USD value). Note: APR fluctuates from time to time and is dependent on certain factors such as:

• Price of VAL

• Price of VSHARE

• Amount of VSHARE staked in Valgrind (Locked Value)

Valgrind on Contraction Periods

Valgrind will not mint any VAL (NO REWARDS) while TWAP < 1.01 OS

Valgrind on Debt Phase

Debt Phase take place on the expansion epochs that start after a contraction period where there are still VBOND to be redeemed.

65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the VBOND Redemption. This amount is still reserved whether or not VBOND holders are redeeming bonds or not.

Once VAL in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.

VBOND emitted per epoch during contraction periods can be found on Regulations.

Shares

Stake your LP to earn VSHARE tokens

Shares Pools (Shares Reward) available for 12 months:

• VAL-OS LP

• VSHARE-OS LP

HEL (Bonds)

VBOND (bond tokens) are available for purchase when VAL falls below the 1 OS peg. If VAL's TWAP is between 1.00 and 1.01, neither VBOND nor VAL will be issued.

e.g. if VAL's TWAP < 1, exchange VAL for VBOND will be in a 1:1 ratio.

VBOND (bond tokens) are available for redemption when VAL goes above the 1 OS peg.

To encourage redemption of VBOND for VAL when VALTWAP > 1.1 and incentivize users to redeem at a higher price, VBOND redemption will be more profitable with a higher VAL TWAP value, of which VBOND to VAL ratio will be 1:R, where R can be calculated in the formula as shown below:

R=1+[(VAL(​twapprice)−1)∗coeff)]

Where coeff = 0.7