GLM Stake Pool

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Introduction of GLM Stake Pool

• This is a smart contract in order to provide the opportunity of yield farming for Golem's GLM token holders (by staking uniswap-LP tokens that is a pair between GLM and ETH into the stake pool).

 

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Workflow

1. Create UniswapV2-Pool between GLM token and ETH. (Add Liquidity)
2. Create UNI-V2 LP tokens (GLM-ETH).
3. Stake UNI-V2 LP tokens (GLM-ETH) into the GLM stake pool contract.
4. Smart contract (the GLM stake pool contract) automatically generate rewards every week.

• The Golem Governance Token (GGC) is generated as rewards.
• Current formula of generating rewards is that:
  • 10% of staked UNI-V2 LP tokens (GLM-ETH) amount in a week is generated each week.
  • Staker can receive rewards ( Golem Governance Token ) depends on their share of pool when they claim rewards.

5. Claim rewards and distributes rewards into claimed-staker (or, Un-Stake UNI-V2 LP tokens. At that time, claiming rewards will be executed at the same time).

 

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Technical Stack

• Solidity (Solc): v0.5.16
• Truffle: v5.1.60
• web3.js: v1.2.9
• Node.js: v11.15.0
• Libraries
  • @openzeppelin/contracts: v2.5.1 etc...  

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Setup

1. Install modules

$ npm install

2. Add .env to the root directory.

• Please reference .env.example to create .env

3. Compile & migrate contracts (on Rinkeby testnet)

$ npm run migrate:local

4. Test (Mainnet-fork approach with Ganache-CLI)

$ ganache-cli --fork https://mainnet.infura.io/v3/{YOUR INFURA KEY}

Then,

• All of tests

$ npm run test

• Only test of the Stake Pool contract

$ npm run test:stake

 

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Remaining tasks and next steps

• Replace GLMMockToken contract (GLMMockToken.sol) with official GLM token contract (NewGolemNetworkToken.sol).
• Additional implementation of GLM stake pool between GLM-ERC20.
• Additional implementation of the Golem Governance Token (GGC) and governance structures (e.g. Community voting function by GLM token holders)
• Add liquidity pool of the Golem Governance Token (GGC).
• Implement the front-end (UI).