Yield Baker is an Automated Liquidity Protocol with a rebalancer instrument for tokenized staked assets on Tezos (dXTZ, SLOT). It's a pool that allows users to deposit their staked XTZ (dXTZ) to earn a yield up to 25% APY by providing liquidity for SLOTs.
REFILLS is a lending pool that enables an open-ended credit line for SLOT minting, where bakers can borrow the required bond amount. Lenders are compensated with 50% of SLOT tokens minted, that generate a 10X upside on XTZ supplied to the pool.
Baking made easy
A Peer-to-Contract Staking Economy
DAO Baker is an SDK for tokenized stake liquidity on Tezos. It's an immutable smart-contract protocol that lives on Tezos blockchain with no single entity behind it. Any validator can use it to tokenize their staking process with no additional dependency.
DAO Baker is an immutable smart-contract protocol that lives on Tezos blockchain with no single entity behind it. Any validator can use it to tokenize their staking process with no additional dependency. When they do, their validator is represented as a SLOT token that's value is pegged to its staking balance and performance. The delegations on that validator are then represented as dTokens (dXTZ). SLOT tokens (aka consensus derivatives) can now be traded on the market based on the performance variables of that SLOT.
dXTZ is a redemption token that represents a user’s total XTZ staked delegation balance and rewards generated. There is no slashing risk for dXTZ.
dXTZ has multiple uses. At a basic advantage, it allows users to continue to stake their assets and earn rewards whilst having a liquid fungible token they can continue to use within DeFi DApps. Instruments like Yield Baker gives users the opportunity to multiply their yield without losing staking rewards. You can always redeem XTZ at any time by burning dXTZ.
SLOT is a token belonging to Tezos baker (who are using DAO Baker) that is pegged to its staking balance and performance. This can only be minted by providing a security deposit (bond amount) for the baker, this is normally performed by the validator and this token is slashable. This gives users an option to buy fractional ownership of a Baker by buying SLOT tokens from the Swap Market. See the article here explaining the SLOT token value capture mechanism and its underlying dynamics.
This is a lending pool that enables an automated open-ended credit line for the DAO Baker ecosystem, where bakers can borrow the required bond amount with no collateral. Lenders are compensated for their supplied liquidity with 50% of SLOT token minted in return that generates a 10X value return.
1 refill lot == 80XTZ
Type of Refill use cases: SLOT and Flash Bond.
Refills are not available for a SLOT (DAObakers in the network) who have been previously reported for a slashable event during the last 13 cycles.
Refill owners will have a claim to a SLOT token and once it becomes spendable, it will acquire the market value of the corresponding SLOT proportionally (i.e. after 13 cycles).
However, if the related delegations were withdrawn, then the underlying XTZ SLOT has only the right to claim the reward (in this case 100%) not the market cap and the XTZ will be spendable after the preserved cycles ( 13 cycles total).
Refills are an open reserve for all slots, so there are no specific SLOT refills possible with this contract; a randomized shuffle chooses Refills.
Drand for industry best randomness for Refill lot index shuffle.
Is this from the staking process?
No this is not from staking rewards, dXTZ holders will earn their staking reward from Tezos baking process as normal in addition to Yield Bakers 25% APY. So in effect, every dXTZ holder who is providing liquidity to Yield Baker will earn up to 25% APY + Staking rewards ( both are denominated on XTZ)
How can I earn 25% APY?
Simply delegate your XTZ from your wallet to a DAOBaker participating baker and activate Yield Baker and you are ready to go!
Yield Baker allows users to lend their dXTZ to a pool for SLOT trading and earn 0.21% per cycle (around 3 days).
What are the risks associated with dXTZ lock up?
There is no counterparty risk associated with dXTZ when locking up with Yield Baker as the protocol is non-custodial and never interfaces with your token. Users can always withdraw their provided liquidity.
Users need to delegate their XTZ for baking through a DAO Baker enabled validator. The same process you do now for baking XTZ where a user simply selects a baker who is participating with DAO Baker tokenized staking. Doing this users can receive dXTZ in return. The received dXTZ can now be locked with Yield Baker.
Can I delegate through my Ledger or other wallets?
Yes, any wallet that supports XTZ
How is 25% APY calculated?
dXTZ holders to provide liquidity to the SLOT token pool
dXTZ holders shall earn 0.21% per cycle (4096 blocks)
On avg 3 days per cycle (Remember block timing is not consistent it can go up down a little)
0.21 x 120 = 25.2%
Yield Baker smart contract is limited to 25% APY with a 13 cycle rollover maturity.
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