Boardroom
Last updated
Last updated
Check out our boardroom here! This is what you'll be met with. You are able to quickly see where your current CZshares are staked, as well as timers to the next epoch!
From here you can choose which Boardroom you would like to enter! Once selected, you will be see the following stats.
Let's take a look at each element of the Boardroom user interface and what it means.
NEXT EPOCH The amount of time remaining until the next epoch.
CURRENT EPOCH The number of the current epoch.
CZbomb/CZbnb/CZemp PEG (TWAP) The TWAP (time-weighted average price) of the CZbomb/CZbnb/CZemp peg. The Boardroom only mints new CZbomb/CZbnb/CZemp as rewards for Czshares stakers when this value is above 1.001 at the end of the current epoch.
APR The yield for CZshares stakers in the Boardroom if the Boardroom was printing every epoch. This calculation is based on the last recorded print in the Boardroom.
CZshares STAKED The total amount of CZshares currently staked in the Boardroom.
CZbomb/CZbnb/CZemp Earned The amount of CZbomb/CZbnb/CZemp you've earned as rewards for staking CZshares in the Boardroom.
CZshares Staked The amount of CZshares you currently have staked in the Boardroom.
Epoch duration: 8 hours
The boardrooms all print at staggered intervals! Learn more here.
Any interaction with the Boardroom (staking/unstaking CZshares or withdrawing rewards) will lock your staked CZshares for 2 epochs. Your CZbomb/CZbnb/CZemp rewards can be redeemed after 1 epoch. Example: You stake 2 hours before an epoch ends. Your CZshares are locked for 18 hours (2 epochs is 16 hours, plus the 2 hour gap)
Staking and unstaking your CZshares both incur a 2% fee. This fee is used to support the CZpegs protocol and the BOMB protocol at the teams discretion.
Distribution of CZbomb/CZbnb/CZemp during expansion (Boardroom printing):
50% goes to Boardroom CZshares stakers as rewards 30% goes to the Protocol
10% goes to Insurance Fund 10% goes to Dev Fund
Epoch Expansion: The current expansion cap is based on the currently circulating BOMB supply (see CZbomb/CZbnb/CZemp Distribution for details). If there are bonds to be redeemed, 65% of minted CZbomb/CZbnb/CZemp goes to the treasury until its sufficiently stocked to satisfy future bond redemption.
Note that the Boardroom does not print any rewards for CZshares stakers when the Boardroom TWAP < 1.001.
Staking CZshares will only give you rewards when the price of CZbomb/CZbnb/CZemp/CZbusd is above 1.001 peg, but not when it is under the peg. If one of the pairs was under peg, the other boardrooms will still print. Think about moving your CZshares there instead!
Yes, there is. One when you stake your CZshares. Claiming your rewards will reset this timer. The lockup period is 2 epochs (16 hours plus the time difference you deposited before the epoch ended. Example: You stake 2 hours before an epoch ends. Your CZshares are locked for 16 hours (2 epochs is 16 hours, plus the 2 hour gap) to unstake your CZshares. If you withdraw your rewards without also withdrawing your CZshares, you will have to wait two epochs to unstake your CZshares as they will be locked up. Example: You claim your CZbnb rewards 5 minutes after a boardroom print, your CZshares are now locked up for 15 hours 55 minutes.
No, Boardroom rewards are determined by how much you have staked at the time of printing (i.e., at the end of one epoch and the start of the other). It doesn't matter if you stake three hours before or thirty seconds before the emissions occur.
No, they will still be sent to your wallet.
A debt phase takes place during expansion epochs that start after a contraction period where there are still BONDs to be redeemed.
65% of expansion during a debt phase is allocated to the treasury fund to prepare for subsequent BOND redemption down the road. This amount is always reserved, regardless of whether BOND holders are redeeming bonds or not.
Once enough CZbomb/CZbnb/CZemp/CZbusd is sufficiently stocked in the treasury to satisfy the redemption of all circulating BONDs, expansion rates will resume to normal.
The debt phase will last as long as is necessary to adequately pay back outstanding BOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonus premiums when people redeem BOND over 1.05 peg. There's no exact way of calculating how many epochs it will take, since the protocol doesn't know exactly when people will redeem their BONDs. The debt phase cannot end until the treasury has enough CZbomb/CZbnb/CZemp/CZbusd to cover the redemption of all outstanding BONDs, plus a premium.
There is a balanced state "at peg" when CZbomb/CZbnb/CZemp/CZbusd's TWAP is between 1.00 and 1.001, which results in no contraction or expansion of the circulating supply of CZbomb/CZbnb/CZemp/CZbusd. This is referred to as a zen epoch.
Depending on the price of CZbomb/CZbnb/CZemp/CZbusd, the Boardroom print will have to adjust to provide a buffer for any unclaimed BONDs. As the price of CZbomb/CZbnb/CZemp/CZbusd climbs above the peg, more CZbomb/CZbnb/CZemp/CZbusd needs to be distributed to the treasury to account for BOND redemptions, plus premiums.
Let's take a look at a simplified example for a non-debt phase: say you have 1 CZshares staked out of 10 total Czshares staked in the Boardroom. In this case, you will receive 10% of the total CZbomb/CZbnb/CZemp printed in the Boardroom.
For this example we are assuming that there is a total circulating supply of 10,000 CZbomb/CZbnb/CZemp/CZbusd and the current expansion rate is at 4%, so a total of 400 CZbomb/CZbnb/CZemp/CZbusd will be printed in the Boardroom. Under the protocol's current rules, 50% of those newly printed CZbomb/CZbnb/CZemp/CZbusd will be distributed to CZshares stakers in the Boardroom. (See the CZbomb/CZbnb/CZemp/CZbusd Distribution page for more details on how CZbomb/CZbnb/CZemp/CZbusd is distributed within the protocol.) Therefore, you would get: ((0.04 * 10000) * 0.50) * (1/10) = 20 CZbomb/CZbnb/CZemp/CZbusd. Thus, the formula to calculate your rewards is as follows: ((ExpansionRate * CirculatingCZbomb/CZbnb/CZemp/CZbusdSupply) * 0.50) * (Your CZsharesStaked / TotalCZsharesStaked)
This will vary constantly as the APR in the Boardroom fluctuates, along with other variables such as the price of CZbomb/CZbnb/CZemp/CZbusd.
For a quick estimation, however, you can do the following:
Take the total APR shown in the Boardroom and divide that by 365 to get the daily APR. (For this example we will say the daily APR is 5%.)
Multiply that daily APR by the current market price of the total CZshares you have staked to see what your daily rewards are. (In this example, we have 5 CZshares, each worth $500, for a total amount staked of $2500. Your daily return in this case would be $2500 * 0.05, which comes out to $125 per day.)
Take your initial buy-in price for CZshares and divide it by your daily rewards. If you bought these 5 CZshares at a higher price, say $700 for example, in the current market conditions you would recover your initial investment of $3500 in 3500/125 or 28 days.
