Pre-IDO staking refocused
Since we have considered that currently Staking process is not healthy for the protocol logic at all, we are pushing focus mainly on liquidity pools. Single token staking for AGOy, AGOUSD, and AGOBTC tokens has received reduced token allocation with the same reward rate. What we are implementing next:
- AGOBTC — WBTC / AGOUSD — USDT liquidity pairs have received main AGOy token allocation for early contributors to the tune of 70% of all remaining not distributed tokens
- AGOBTC — WBTC / AGOUSD — USDT liquidity pairs have received x2 reward rate (AGOy) in comparison to single token staking
- Collateral ratios are turning on: TCR (minting) and ECR (redeeming) ratios became fully algorithmic and will apply changes based on the further market conditions
- Minting for both AGOUSD and AGOBTC synthetic assets is turning on. Redeeming stays unavailable for some short time until the liquidity is completely settled
All users with deposited tokens on single staking contracts have the ability to withdraw some desired amount of tokens for liquidity provision into the liquidity pools.
Since trading within AGOUSD — USDT / AGOBTC — WBTC pairs switched off, users can buy assets like USDT and WBTC for providing liquidity using QuickSwap router within Argano dApp directly on the trading page:
IMPORTANT: Users with staked LP tokens in the outdated contracts should withdraw their assets without the need of removing liquidity:
For the AGOUSD — USDT contract:
- Move on the read contract page here and paste your address
https://polygonscan.com/address/0xe9269671c2a9a95354b3b02ab34063c31aece378#readContract - Scroll down and paste your address in the userInfo field to receive deposited LP amount information
3. Copy amount and paste using the following steps: Write contract => Connect to Web3 => withdraw field => write button
4. Once done, you have received LP tokens and now you are able to stake them in the new contract, featured on the Liquidity Pools page
For the AGOBTC — WBTC contract:
- Move on the read contract page here and paste your address
https://polygonscan.com/address/0xe9269671c2a9a95354b3b02ab34063c31aece378#readContract - Repeat the procedure described above
The difficulties we faced
Starting from January 15th, we have faced economic instability due to low liquidity in the synthetic assets pairs. This led to some huge arbitrage trades that could break the protocol logic at the moment of their execution. As a result, minting and redeeming processes were disabled.
As we have mentioned before, Argano turns on minting and automatically updates collateral ratios, meaning they are not fixed at 100% starting from now. Redeeming will be resumed as soon as possible. Actual statuses of minting and redeeming functionality can be tracked via our Discord server.
If you have additional technical questions or suggestions, please use the communication channels:
