The Contract has to have an Ethereum address in order to deposit a reward. Once the reward is deposited it is equally devided among all MVT addresses. Future revenue efforts will point at this address to be distrubted to the community. For example, Jack, John and Bob have 1, 2 and 2 tokens respectively. If 100 ethers are placed in the round as a reward, Jack, John and Bob can claim 20, 40, 40 ethers respectively through the smart contract.
Preparation:
start init.sh
npm i
Run tests:
start runrpc.sh
start run.sh
The creator (contract owner) can perform all the admin functions, such as creating admin (address) list to allow admins to use certain functions. Different functions are assigned for each different admin:
- distribute tokens to ETH addresses (Issue admin);
- set a reward for each weekly round (Reward admin);
- adjust the round length (Round admin).
Token issue method to determine the specific amount of Tokens to be issued to the address provided by the Contract owner or issue admin.
The total Token supply cannot be exceeded. Token holders can transfer their own Tokens to different addresses. Not issued tokens are not owned by anyone and are not included into the reward calculation (but can be issued at any time until the total lifetime supply is reached).
On token issue: issuedTokens[currentRound] = (issuedTokens[last record] ?? 0) + issueAmount
The Token balance is being held in the following data structure: balances = address[] => round[] => token balance
The Round is increased weekly (check for an increase on Token issue, then transfer and reward).
On Token issue, transfer:
- If the round ID has not been increased - increase to the most recent currentRound number. Check for gaps and fill issuedTokens with the latest value in the same array of missing Rounds.
- Check for existing Token balance in the address. Get the last record of
balances[msg.sender]to check existingtokenBalance - Funding address:
balances[msg.sender][currentRound] = currentBalance + tokenChange - Withdrawing from address:
balances[msg.sender][currentRound] = currentBalance - tokenChange
Reward for each round: rewardList = round[] => reward
Latest claimed round of each address: claims = address[] => round
When received, the ETH is stored in the Contract balance. The Owner (Reward admin) can call setReward for the Round method (one time for each Round) and a Reward amount is set for the provided round: rewardList[round] = reward. Also round rewardRate is updated: rewardRate[round] = reward / issuedTokens[round].
The Token holder is entitled to a reward in ETH. Calling claimReward(), the token holder will claim the reward in ETH.
When calling claimRewardTillRound(untilRound) the Round until which the reward should be claimed has to be specified. untilRound should be: lastClaimRound < untilRound <= currentRound. untilRound is not included in the claim.
lastClaimRound = claims[msg.sender] ?? 0
reward = SUM(having claimRound from lastClaimRound to currentRound - 1) {
return balances[msg.seneder][claimRound] * rewardRate[claimRound]
}
After claiming, the claimed ETH amount is sent to the destinationAddress and claims are updated: claims[msg.sender] = currentRound
Having currentRoundStartBlock, the Rounds are calculated and adjusted to correlate to the weekly timing.
blocksPerRound = 6000 x 7 = 42000 (at the time of writing)
Function setBlocksPerRound(blocksPerRound)to adjust blocksPerRound by the Contract owner or Round admin.
If performing token issue, transfer or claim, the currentRound is updated based on currentBlock, blocksPerRound and currentRoundStartBlock, if needed.
currentRound = currentRound + (currentBlock - currentRoundStartBlock) / blocksPerRound
When updating the currentRound, currentRoundStartBlock is updated accordingly.
currentRoundStartBlock = currentRoundStartBlock + blocksPerRound * (currentRound - currentRoundBeforeUpdate), if having currentRoundStartBlock <= currentBlock.