Protocol
Summary of the inner workings of the THX Network protocol.
Last updated
Summary of the inner workings of the THX Network protocol.
Last updated
THX Network uses a protocol that provides incentives for completing quests, providing liquidity and staking Balancer Pool Tokens (BPT).
Campaigns running on THX Network pay Campaign Manager Fees. Which consist of a Subscription Fee and a Protocol Fee. The ratio of these will be determined by on-chain voting in a future version of the protocol. Currently the ratio is set as follows.
30 USDC is transferred to the Company Safe as the Subscription Fee for providing centralized infrastructure and the front-end
70 USDC is charged as the Protocol Fee and provided as liquidity (Balancer 80THX-20USDC) resulting in BPT
80% BPT is transferred to veTHX Reward Distributor which allows veTHX holders to claim them, this is called Protocol Incentives
20% BPT is used for quest incentives for individual campaign participants called Participant Incentives
Incentives earned with completing quests or staking $THX allow for more reward claims from the veTHX Reward Distributor.
With a weekly distribution schedule campaign participants will be able to claim tokens for their share of veTHX.
Participants can lock (stake) BPT in the veTHX system. This will earn them more BPT rewards in the veTHX Reward Distributor.
Participants can withdraw their staked BPT in the veTHX system. Early withdraws will get a penalty relative to the amount of time until lock end.
(deprecated) Protocol fees
During beta phase each Campaign Safe generated fees when quests that transferred ERC20 tokens were completed or tokenized assets were redeemed. These fees were collecected in the Fee Collector (Polygon)
THX holders govern protocol parameters and improvements, including managing the Community Treasury, and Incentives, as well as fees. Initially, governance uses gasless voting using Snapshot, eventually transitioning to on-chain governance.
For most recent community discussion see the Governance Forum.
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