SAVIX
What is Protocol embedded staking?
In order to realize the staking features mentioned above the staking mechanic has been embedded into the ERC20 protocol. The algorithm works by regularly inflating the total token supply according to a mathematical logic implemented into the smart contract. Account balances are defined by their individual share of the total supply thus guaranteeing a non-dilutive allocation of tokens. This way the relative staking profit is and remains equal for all accounts independent of size and user related parameters like staking duration, choice of staking pool etc.
With Savix a virtual currency is now available for the first time, which makes it possible to profit from staking rewards while keeping the token unlocked and liquid, freely available for use in any DeFi product at the same time.
Protocol Embedded Staking (PES)* used here is deeply anchored in the base code of the currency and does not require any explicit control or triggering by the user. All wallets holding Savix tokens automatically and permanently take part in the staking process.
All contracts and tools needed for deployment are fully developed and in the last steps of internal auditing. At the moment the contracts are running smoothly on the Rinkeby testnet. We plan to switch to mainnet in the beginning of December 2020.
The Vision
Our main objective is to let users profit as much as possible from the new investment opportunities created by decentralized finance with as less barriers as possible. Therefore users combine multiple income streams while keeping full flexibility of token usage. The staking mechanism built into the Savix protocol works without any need for user actions. Users don’t have to lock their tokens and don’t have to claim their rewards since the staking process works completely automated.
We believe that Savix is the best collateral for decentralized finance because, it is
1. Multi-Beneficiary
Since Protocol Embedded Staking (see next paragraph) allows complete availability of token usage in other DeFi products, rewards can be “doubled” using Savix. This way staking rewards work like an extra Layer of passive income. The upcoming liquidity incentive program “Trinary” (see 7) will offer Savix holders another distinctive additional income stream.
2. Convenient
Savix staking is embedded within standard ERC20 transfer functions and is fully automated and 100% passive with no need for user decisions or interactions to receive rewards therefore.
3. Flexible
Savix is compatible with any Ethereum based DeFi project. Savix coins can be used like all standard ERC20 tokens for pooling, lending, yield farming, mining and so on, all this while continuously yielding additional staking tokens to holders.
4. Fair
Savix protocol embedded staking evenly adjust all balances according to the embedded supply development curve. No preference whatsoever is given to any specific holder. All wallets are treated in the same way, independent of balances, transaction volume or other parameters.
5. Transparent
Savix sources are open. All program codes and contracts are made available through Github and can be inspected and tested by anybody. Due to single contract deployment any manipulation of the contract logic or maximum supply is impossible, no minting of additional coins. Staking rewards are fully transparent and predictable.
6. Stable
With Savix there aren’t any reward releasing events at the end of locking periods which could generate cyclical dumps. Except for market reasons selling Savix is never easier or more profitable at any specific point in time, creating less volatility.
7. Independent
With Savix you stay independent because tokens always stay liquid while earning rewards (no locking) and can be freely moved or invested into other DeFi products.
Token Technology
Since using DeFi applications (like participating in Uniswap liquidity pools) is a main usage scenario for the Savix token, an implementation as ERC-20 token is required. Non-fungible tokens may play an important role within future concepts and the ERC-721 or ERC-1155 standards may come into use for future developments as well.
However, the Savix token itself will remain untouched by all future developments. These will be designed as separate contracts interacting with the Savix original contract. The immutability of the Savix contract implementation is guaranteed and an important part of Savix`s trust building concept:
• Absolute transparency and liability of contract code due to single contract deployment (no unforeseen changes whatsoever can be made to the staking parameters).
• Absolute transparency and liability of staking rewards due to non-dilutive staking rewards defined by an immutable supply map (future interest rates can be exactly predicted)
• Absolute accuracy and transparency of total circulation supply. The circulating token supply is always identical to the total supply of tokens, there are no tokens held back in any way. The only exception are unsold tokens during the presale (6 month locking time)
Trinary details:
• Uniswap Rewards
There is a 0.3% fee for swapping tokens on Uniswap. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. It is functioning as a payout to all liquidity providers proportional to their share of the pool.
• Staking rewards
In addition, you will earn Savix staking rewards from the embedded staking protocol while your tokens get used as liquidity.
• Trinary rewards
Whenever liquidity is deposited into a uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool. With Savix “Trinary” it is possible to deposit Savix liquidity tokens for up to 6 month to receive yet another reward layer: ETH from our Ecosystem Fund. We expect a return of 7% to 15% of the initial investment directly paid in ETH over the first 6 month.
Token Distribution & Budget Allocation
5% Initial Public Presale
20% IEO Launchpad
40% Unicrypt Presale
20% Uniswap Liquidity (Public Sale)
7% Ecosystem Fund
3% Bounty Program
5% Team
BUDGET ALLOCATION (ETH):
36% Uniswap Liquidity
7% Ecosystem Fund
30% Further Development
17% Marketing
10% Reserve
Token Details:
Ticker: SVX
Platform: Ethereum
Token Type: ERC-20
Available for sale: 70,000 SVX (70%)
Total supply: 100,000 SVX
IEO Price: 1 SVX = 0.0166 ETH
Accepting: ETH
Bonuses: 20% Discount
Roadmap
April 2020
Idea: “Protocol Embedded Staking”
May 2020
Assemble Savix Team
June 2020
Mathematics & Algorithm Design
July 2020
Savix Smart Contract Development
August 2020
Whitepaper Alpha Version
Presale Workflow Design / Telegram Bot Development
September 2020
Presale Smart Contract Development
Savix Website Design
October 2020
Smart Contract Simulation And Auditing
Creating Social Channels
November 2020
Presale Dapp Development
Public Start Of Website And Social Channels
December 2020
Community Building
January 2021
Token Presale
Uniswap Pool
March 2021
Savix Trinary Alpha
April 2021
Savix Trinary Dapp Release
Information:
https://savix.org/wp-content/uploads/2020/11/SAVIX_Whitepaper.pdf
AUTHOR: Federico Valverde
