@Unknown33594111@Theta_Network Sorry that’s completely wrong, if you check out our smart contract the TFuel backing sTFuel is held by the smart contract which gives you a TFuel value per sTFuel! TBill didn’t have any backing, they just created a liquidity pool.
Less than two months live and already averaging over 1% per month 🔥
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@Unknown33594111 Again a key misconception, sTFuel doesn’t become magically more expensive, its backing in TFuel increases resulting in the higher price.
KEY IS: STFUEL IS BACKED BY TFUEL -> TFUEL BACKING INCREASES -> STFUEL PRICE INCREASES
@Unknown33594111 Sorry, Your calculation basically says sTFuel should fall in value over time = more sTFuel per TFuel
Our calculation says:
sTFuel increases in value over time -> the amount of TFuel backing sTFuel increases -> if you redeem sTFuel you get more then when you deposited it.
@Unknown33594111 It’s called early adopter incentive!
We could collect that fee for us and just say that’s ours, but instead we distribute it to everyone to reward early adopters!
@Unknown33594111 Now we get to the interesting part.
1. we don’t promise any APR that’s the historical one
2. It’s generated from staking rewards + protocol fees + OpenTheta Secondary Market trades
3. compounding with a larger staking amount we can compound more often then if staking by yourself
@Unknown33594111 This is for absolut transparency, to show the hourly returns generated by Protocol fees and staking rewards -> if someone deposits a large amount there is a big influx in fees resulting in an high APR in that hour. To get a better look at the trend take a look at the 30d graph
@Unknown33594111 We agree that right now it’s not that huge financial burden to buy 10k TFuel, even so ever Person has different funds available and we want to enable everyone to stake!
Hopefully TFuel goes back to its highs then 10k TFuel could be a few thousand Dollars!
@Unknown33594111@OpenTheta@HawkkRico How can it be a scam if it’s actually backed by the TFuel on chain?
Thanks for taking the time and looking into sTFuel. As we value every input we will go through each comment, that you made and show you why you are interpreting it wrong or what is missing!
@Unknown33594111@HawkkRico It’s not, all the APR generated is accounted for! The majority just comes from the TFuel getting staked + protocol fees. If you read the smart contract you can see that sTFuel is backed by TFuel and that backing can’t go down! Feel free to reach out if you have more questions!
🚨 Big Announcement!
OpenTheta x sTFuel 🤝
For the next 12 months, 100% of OpenTheta secondary market trading fees will go directly into the $sTFuel backing! 🚀
Strengthening the ecosystem and adding real value.
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@r83804433@Thetafund Yea if you have a tone of TFuel you can compound it very often. But most people have maybe enough to compound 1-2 a year then sTFuel should perform better. Also you save the time to do the compounding yourself