Melvin’s Capital is a smart faucet that allows users to continuously obtain rewards in return for providing liquidity. The more coins you stake, and for longer, the higher the multiplier will be when withdrawn.
Explanation
Essentially, the DOGESTOP faucet consists of an ecosystem fund controlled by smart contracts, from which the funds are continuously distributed to liquidity providers. This has two pools with the DOGESTOP token and the staked UNI-V2 tokens (locked and unlocked).
Over time, tokens in the DOGESTOP pool from Melvin’s Capital are unlocked, and paid out to liquidity providers in an amount proportional to their share of the pool.
There is no minimum lock-up period or staking/unstaking fee when utilizing Melvin’s Capital outside of gas fees. You can deposit funds or withdraw at any time.
Tutorial
In order to stake your tokens in Melvin’s Capital, you must:
- Deposit ETH and DOGESTOP into UNISWAP V2
- Receive UNI-V2 liquidity provider tokens
- Stake the UNI-V2 LP tokens by visiting the Melvin’s Capital dashboard, and selecting “deposit” after inputting the desired amount
The Basics
The dashboard provided on the Melvin’s Capital platform offers a variety of statistics on the current state of the faucet.
APY (Annual Percentage Yield)- This percentage represents the total interest users are projected to receive in one year, however, this figure is based on DOGESTOP, not USD
*This calculation also does not account for compounding earnings*
Reward Multiplier- The number here represents your reward multiplier, which increases the longer your coins are staked
Accrued Rewards- This figure represents the total rewards YOU have received from your time using Melvin’s Capital
Total Rewards- This is the total number of DOGESTOP rewards that will be paid out in the current market conditions
Total Deposits- Total deposits represent the dollar value of all the Uniswap liquidity that is locked in Melvin’s Capital at the moment in time.
Locked Rewards- This section shows the amount of DOGESTOP still in the locked pool awaiting to be claimed by liquidity providers, these tokens will gradually be moved from the locked pool to the unlocked pool in Melvin’s Capital
Unlocked Rewards- As mentioned previously, these are the tokens that have been unlocked and are ready to be claimed.
Purpose
Recently, a large hedge fund named Melvin Capital made several questionably large investments intending to drain GameStop of value artificially with shorts over 100% on the companies shares. Traders quickly came to the realization that given the current state of GameStop, it would not go into bankruptcy, and they could theoretically drain the hedge fund of billions of dollars by simply buying in and holding their position to drive the value of the shares up.
This event is known as a “short squeeze”, where a domino-type effect occurs at the hands of traders who are short that become forced to buy the asset to try and recover their short position’s losses.
The hedge fund used upwards of $2.7B on their position, reporting a 30% loss after closing a few days ago.
Melvin’s Capital is the DOGESTOP team’s representation of what has occurred recently with GameStop, which has created a movement across the financial market.
It was developed specifically to promote liquidity and distribution. The monetary protocol creates a fair distribution method that is non-dilutive and fair, all the while rewarding the early adopters of the project.
Put simply, Melvin’s Capital provides a proper distribution method of tokens inside the ecosystem fund, to those who contribute liquidity to the project in the beginning.
Rewards
DOGESTOP token’s are distributed continuously in accordance with your ownership of the Melvin’s Capital pool. These rewards are subject to a multiplier increasing with the amount of time the tokens are staked. After 60 days of deposit, you will have received a x3 multiplier for the accrued rewards when withdrawn.
FAQ
Are tokens in Melvin’s Capital subject to rebase?
Yes, tokens in Melvin’s Capital are subject to rebase just like the coins outside of it are.
Who controls the funds?
Uniswap contracts hold the liquidity provider tokens. The smart contracts in Melvin’s Capital hold the staked coins, as well as DOGESTOP for distribution.
Is this audited?
Yes, the smart contracts from Ampleforth (which were used for implementation in Melvin’s Capital), has been audited by certik and is licensed under GNU GPL V3.
We here at DOGESTOP want to thank our community for their outright support and interest in our token! Visit Melvin’s Capital to begin receiving rewards now!
WEBSITE: http://DogeStop.com/
TELEGRAM: https://t.me/DOGESTOP
MELVIN’S CAPITAL: http://dogestop.com/melvin/
