Platform Details
ORA Reward Distribution
The following table details the general distribution parameters for the ORA protocol.
Dev Team Genesis allocation
1,000 ORA
Dev Team Earnings initial reward allocation
9,000 ORA
Genesis Pool Earnings reward allocation
10,000 ORA
140,000 ORA
59,500 OSHARE
OSHARE Community Fund allocation
5,500 OSHARE
OSHARE Dev Fund allocation (vested over 365 days)
5,000 OSHARE
2%
18%
Expansion and Contraction
At Genesis time, the ORA protocol starts with a 28 epoch Bootstrap period. During this period the protocol pays an expansion rate of 4.50% regardless of the price of ORA. After the Bootstrap period the protocol calculates a Time Weighted Average Price (TWAP) and pays rewards base on the TWAP and the current circulating supply of ORA.
The ORA Protocol defines Expansion as any epoch where the Time Weighted Average Price (TWAP) is Greater than 1.01.
Contraction is defined as any epoch when the TWAP is less than 1.00.
Earnings Farms pay rewards on time released basis depending on the amount and duration of staked tokens. Rewards are minted and allocated once at Genesis time.
The Treasury calculates rewards on a periodic interval and mints new ORA during Expansion periods. These rewards are distributed to the Boardroom and retained for Bond redemptions according to the rules set out in the protocol contracts.
The Boardroom pay rewards only during expansionary periods and not during contractionary periods.
Bonds are available for purchase during contractionary periods and redemption during expansionary periods.
Bootstrap period (28 epochs)
4.50%
500K or less
4.50%
500K+ to 1M
4.00%
1M+ to 1.5M
3.50%
1.5M+ to 2M
3.00%
2M+ to 5M
2.50%
5M+ to 10M
2.00%
10M+ to 20M
1.50%
20M+ to 50M
1.25%
50M+
1.00%
Boardroom During Expansion and Contraction
During Expansion epochs (TWAP > 1.01), the Treasury will expand the supply of ORA per expansion cap rates calculated based on the current supply of ORA. In addition, if there are OBONDs to be redeemed, 65% of the newly minted ORA is retained within the Treasury until it is sufficiently full to meet future OBOND redemptions within Bonds. The remainder 35% is allocated to the Boardroom for staking rewards. If there is no debt, 100% of all newly minted ORA are allocated to the Boardroom.
Of the rewards allocated to the Boardroom, distribution of ORA during Expansion is as follows:
80% of newly minted ORA is distributed to OSHARE staked within the Boardroom
18% of newly minted ORA is distributed to the DAO fund
2% of newly minted ORA is distributed to the DEV fund
During Contraction epochs (TWAP < 1.00), the Treasury will NOT mint new ORA for either Boardroom rewards (NO REWARDS ON STAKED OSHARE) or future Bond redemptions.
Earnings
The ORA Protocol provides one single token farm and one Liquidity Pool (LP) for staking to earn ORA tokens as rewards:
AURORA Farm: 10,000 ORA reward tokens
available for 24 hours at the start of the protocol (Genesis Time)
ORA-AURORA LP: 140,000 ORA reward tokens
available for 9 days on days 2-10 after Genesis Time
80,000 ORA rewards available from days 2 to 5
60,000 ORA rewards available from days 6 to 10
The ORA Protocol provides two Liquidity Pools (LP) for staking to earn OSHARE tokens as rewards:
ORA-AURORA LP: 35,500 OSHARE reward tokens
available for 370 days starting on day 5 after the start of the protocol (Genesis Time)
OSHARE-AURORA LP: 24,000 OSHARE reward tokens
available for 370 days starting on day 5 after Genesis Time
Boardroom
The ORA protocol provides investors rewards for investing in OSHARE long term via the Boardroom. Boardroom Annualized Percentage Return (APR) is higher than in Earnings farms but in return stakes are locked for a given duration and are only issued when Time Weighted Average Price (TWAP) is greater than 1.01.
Epoch duration: 6 hours
Deposits of OSHARE into the Boardroom will be locked for 6 epochs and ORA rewards will be available for claiming after 3 epochs.
Claiming ORA rewards will lock staked OSHARE for 6 more epochs and the next ORA rewards will be available for claiming 3 epochs later
Boardroom During Debt Phase
The Debt Phase is defined as the period of expansion epochs that start after a contraction period where there are outstanding OBONDs that can eventually be redeemed.
65% of newly minted Expansion ORA during the Debt Phase is allocated to the Treasury Fund to prepare for the OBOND Redemptions. This amount is still reserved whether or not OBOND holders are redeeming bonds or not. The remainder 35% of newly minted ORA is allocated to Boardroom rewards.
Once ORA in Treasury is sufficiently full to meet all circulating Bond redemptions, expansion rates will resume to normal and 100% of all newly minted ORA will be allocated to Boardroom rewards.
Boardroom UI
Next Epoch indicates a countdown timer to the next epoch (each epoch duration lasts for 6 hours).
Current Epoch is the active epoch counter.
ORA Price (TWAP) is the Time Weighted Average Price of ORA as calculated in the protocol contracts.
APR refers to the simple returns in USD value relative to the amount of OSHARE staked (USD value).
OSHARE Staked is the amount of OSHARE staked in the Boardroom.
Bonds
TBOND (Bond tokens) are available for purchase when ORA falls below the 1 AURORA peg. If ORA's TWAP is between 1.00 and 1.01 (Balanced Range), neither OBOND nor ORA rewards will be issued.
e.g. if ORA's TWAP < 1, exchange ORA for OBOND on a 1 for 1 basis.
OBOND (Bond tokens) are available for redemption when ORA goes above the 1 AURORA peg.
To encourage redemption of OBOND for ORA when ORA TWAP > 1.01 and incentivizes users to redeem at a higher price, OBOND redemption will be more profitable the higher the ORA TWAP. During Expansionary periods OBOND to ORA ratio will be 1:RATIO, where RATIO can be calculated in the formula as shown below:
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