Generic Questions

Among the benefits of Proteo will be a selection of tools such as farming, staking, and bonds to maximize your investment and earn yields. The value in this, beyond continual passive income for the investor, is that the use of these tools adds to the Elrond ecosystem, for example, by adding more liquidity to the Maiar DEX.

Absolutely. This is part of the core design. The Moonlorian and Proteo teams spent weeks defining the deepest DAO we were able to. Proteo is the native coin of its own DAO of the same name; Proteo DeFi. We will see it come alive Q1 2024, or perhaps even the final quarter of 2023.

Proteo is a deity of the sea, and our Proteo token is like a liquid itself thanks to the Defi environment. This liquidity is why we relate Proteo to water, a powerful mass of water like the ocean. The trident is a symbol of power related to the Sea.

ProteoDefi will be the second DEX running on the Elrond Network, combining the strengths of the Maiar DEX with other features from Defi 2.0 projects. In short, ProteoDefi will equal passive income possibilities.

With the information we are constantly delivering via Telegram, Twitter, etc., we are trying to guide our investors to make them understand that they can buy and sell the token, but the real core of the project is using all the different tools we’re offering, such as farming.

Faming is putting your crypto assets to work by staking them in a Liquidity Pool. Similar to holding a traditional fiat savings account, you’re getting rewards by holding your money in it.

In Proteo we have different farms:

- PROTEO/eGLD LP > generating PROTEO
- PROTEO/MEX LP > generating PROTEO

You can then re-invest these generated PROTEO in our auto-staking pool, generating even more money. This is like a circulating economy, all passive income. Meanwhile the demand increases from our various burning mechanisms that are constantly making our already scarce token PROTEO even scarcer. 

The plan is to go more on the passive management side, especially with LPs like EGLD-USDC, EGLD-MEX, etc. We will farm them in the Maiar Exchange to earn LKMEX steadily, and then as it unlocks monthly after a year, use it to buy PROTEO and burn it.

About Lending

The swap function is different than borrowing, it is simply an exchange of two currencies. Lending is a different service where you will be able to borrow against the sPROTEO you have earned in the PROTEO staking pools. For example, you can use your sPROTEO as collateral to borrow x amount of eGLD.

You will be able to use sPROTEO as collateral to borrow eGLD at a 1:7 ratio, or another way to put it is you will be allowed to request a seventh part of what you have in the Autostaking pool. In your example, with sPROTEO worth 100 eGLD, you would be able to request a loan of approximately 14.28 eGLD.

We will give our investors many opportunities to multiply their profits and our commitment is to be a true financial solution, both for investors and for Elrond. That being said, we are a DAO, and future actions such as this will be decided by the voting of the Proteo DAO members

TThe lending platform in Proteo is decentralized, the funds for the loan come from a smart contract. The key component will be our community liquidation mechanism, which will make it so that we don’t need to establish the traditional liquidation paperwork and insurance. Coincidentally, this same mechanism will make it safer for users involved in lending, since they will not be liquidated in response to a simple candle by a bot, as happens so often in Binance.

About Liquidity Management

One of the key design points of ProteoDefi architecture is that we decided to use Maiar DEX liquidity pools instead of our own. In this way Proteo will add value instead of competing for liquidity. One project will have single LPs in the Maiar DEX and both farms available: Users will be able to choose between earning MEX on the Maiar DEX or earning PROTEO on ProteoDefi. This will result in higher apr on both sides as well as higher total liquidity in the Maiar DEX. More liquidity means less spread in prices, which in turn means buying and selling is more effective. ProteoDefi will also be able to count on the added security of directly using the Maiar DEX engine.

The LP's are the same for the Maiar DEX and Proteo. For example… you have LP's of Aero/eGLD but there’s no farm for them in the Maiar DEX so you can’t earn MEX adding liquidity. We can add this to Proteo and allow people to earn PROTEO tokens in an Aero/eGLD farm. At the same time, having the same LP's means that the total liquidity of Aero will increase in the Maiar DEX, resulting in lower slippage.

The actual APR you see in a farm is the result of what “market” thinks is a good APR, meaning that the APR is never fixed. What is fixed is how many MEX daily (so yearly) is available in rewards for a farm.
Let us use as an example the following theoretical RIDE/eGLD farm in the Maiar DEX: you have an APR of 30% MEX or 105% LKMEX and 94 million USD in liquidity.
Now imagine in ProteoDeFi we add a farm with enough rewards that you see 240% APR in PROTEO for the same LP's.
Some users will choose to move their LP’s from the Maiar DEX farm to the Proteo Farm.
Now say the LP’s deposited in the Proteo RIDE/eGLD farm increased up to 10 million $, and the current APR is stable at 100% APR.
What is the result on the Maiar DEX?
Liquidity deposited in the RIDE/eGLD farm decreased 10M $ and the APR then moved to around 40% in MEX and 120% in LKMEX.

This is an incentive, so the market will fill this opportunity until they reach the “consensus” point of 105% APR in LKMEX again.
Result: now we have 10 million $+ 94 million $ in liquidity on RIDE: 104 million $

Users receive more incentives having more alternatives, and the project ends up having more liquidity. This is good for trading efficiency and makes purchases more fair for the users. 

Among the benefits of Proteo will be a selection of tools such as farming, staking, and bonds to maximize your investment and earn yields. The value in this, beyond continual passive income for the investor, is that the use of these tools adds to the Elrond ecosystem, for example, by adding more liquidity to the Maiar DEX.

This is one of the most powerful and innovative things about the ProteoDeFi project. We aim to boost the Maiar Exchange by giving the user 2 options, 2 farms for the same LP.

For example, take EGLD-RIDE LP’s. The user will see 105% APR in LKMEX (on the Maiar Exchange) or 180% APR in PROTEO (on the ProteoDeFi dApp). You have the option to withdraw your LPs from the Maiar DEX and add them to the ProteoDeFi farm. This action increases the APR in Maiar Exchange, incentivizing new users to create LPs for this farm. The result is that the final liquidity is bigger with the Maiar DEX AND ProteoDeFi than with the Maiar DEX alone.

The liquidity are LP tokens, built using the Maiar DEX engine and the same pools. No collateral is involved, as always you add 50% of one token and 50% of the other. ProteoDeFi farms will reward PROTEO tokens.

Actually, there are no Proteo LP’s, we use Maiar DEX LP’s in our farms. A user will want to utilize our services instead of Maiar when they would like to, for example, stake AERO-EGLD Maiar DEX LP’s that have no reward or farm in the Maiar Exchange. You will be able to stake them with ProteoDefi and earn PROTEO tokens. Services like this illustrate how we are a complement to the Maiar DEX, not a competitor.

This is not in any of our plans for the near future. We will be helping with MEX utility by having a PROTEO/MEX LP however.

About Farms

Dual farms are special events that require a deal made with partners. Say that Aerovek wants to push their liquidity with PROTEO rewards (because as of now users have no MEX farm for AERO-EGLD LPs). We make a deal for 60 days of dual farming. The Aero team adds AERO tokens to the smart contract and for 60 days LP farmers will receive AERO + PROTEO, boosting the APR and liquidity.

The actual APR you see in a farm is the result of what “market” thing is a good APR, meaning that the APR is never fixed. What is fixed is how many MEX daily (so yearly) is available in rewards for a farm.
Let us use as an example the following theoretical RIDE/eGLD farm in the Maiar DEX: you have an APR of 30% MEX or 105% LKMEX and 94 million USD in liquidity.
Now imagine in ProteoDeFi we add a farm with enough rewards that you see 240% APR in PROTEO for the same LP's.
Some users will choose to move their LP’s from the Maiar DEX farm to the Proteo Farm.
Now say the LP’s deposited in the Proteo RIDE/eGLD farm increased up to 10 million $, and the current APR is stable at 100% APR.
What is the result on the Maiar DEX?
Liquidity deposited in the RIDE/eGLD farm decreased 10M $ and the APR then moved to around 40% in MEX and 120% in LKMEX.

This is an incentive, so the market will fill this opportunity until they reach the “consensus” point of 105% APR in LKMEX again.
Result: now we have 10 million $+ 94 million $ in liquidity on RIDE: 104 million $

Users receive more incentives having more alternatives, and the project ends up having more liquidity. This is good for trading efficiency and makes purchases more fair for the users.

The ProteoDefi plan is to have a staking pool with 25% of daily issuance going to staking rewards once daily. Autocompounding formulas are really important when you have a reinvesting product, like MEX rewards in an egld/mex pool for example.
So how does ours work with Autostake on Proteo?
You stake PROTEO and receive sPROTEO as representation of your pool share.
An automated distribution script will add 25% of daily issuance inside the pool.
So, for example, if you start with 1 sPROTEO = 10 PROTEO... after some time you will have 1 sPROTEO = 14 PROTEO. Thus, your share of the pool will have a bigger value in PROTEO. This is a very efficient approach. Add in the benefit that PROTEO Defi will allow you to use this sPROTEO asset, for example as collateral for lending. You can take a loan of egld while your collateral sPROTEO continues growing automatically. 

The APR is not fixed in PROTEO Defi, just as APR’s are not fixed in the Maiar DEX. What is fixed is the rewards. In PROTEO Defi 30% of daily issuance goes to farms.

About Bonds

The swap will allow you to exchange several crypto assets within Elrond's network. The bonds allow those who purchase with eGLD to get Proteo at a discount.

We both share the vision to sell Bonds to strengthen our treasury and thus the project. The main difference is that in a hyperinflationary protocol like Olympus DAO, you can’t ever stop selling Bonds because the token printing speed is so high that if you stop selling bonds you dilute the treasury share of the token supply itself.

In comparison, ProteoDeFi can sell Bonds but can also decide to slow down or stop selling them when the token is in any kind of semi-crypto winter phase. Selling a bond always puts a bit of sell pressure on the token. We can control this pressure; Olympus DAO can’t slow it down. 

Swaps are basically enabled by Liquidity Pools. A Liquidity Pool is a Smart Contract where users place funds with two coins, coin A & coin B in a 50/ 50 ratio. In Decentralized finance we use Liquidity Pools in order to bring projects the necessary funds to work properly. Bonds are basically a means of buying Proteo with a discount. You buy a certain number of tokens and wait 10 days, after which you’ll receive them. Bond sales will be used to purchase our own liquidity, so besides simply getting a discount you are supporting the project by buying bonds.

Most simply, buying Proteo bonds equals buying Proteo at a discount. They can be bought with eGLD or MEX and have a ten-day waiting period, after which you receive 100% of your purchased tokens. Purchasing Proteo bonds also supports the long-term health of the project, since the currency received from bond sales goes to purchasing Proteo liquidity. The bond sales distribution will be:

- 20% for buying PROTEO/MEX LP

- 20% for buying PROTEO/eGLD LP

- 20% for buying eGLD/MEX LP

- 20% for buying eGLD/ wUSDC LP

- 20% to our eGLD lending wallet 

We are working on a dynamic system that will be able to adjust the vesting time based on current market conditions. As stated earlier, this is one of the biggest differences between ProteoDefi and hyperinflationary projects like Olympus DAO. Our bond system will offer 10 days when the market is hot (and the risk of selling is low), and 40 days or more when the market is cold (and the risk of dumping is higher). Rewards are also dynamic and calculated, so for example you might receive a 25% bonus of PROTEO for buying a bond with a 30-day vesting period.

Bonds are generated by the protocol itself and will be available in the early stages of Q3.

About AutoStaking

The ProteoDefi plan is to have a staking pool with 25% of daily issuance going to staking rewards once daily. Autocompounding formulas are really important when you have a reinvesting product, like MEX rewards in an egld/mex pool for example.
So how does ours work with Autostake on Proteo?
You stake PROTEO and receive sPROTEO as representation of your pool share.
An automated distribution script will add 25% of daily issuance inside the pool.
So, for example, if you start with 1 sPROTEO = 10 PROTEO... after some time you will have 1 sPROTEO = 14 PROTEO. Thus, your share of the pool will have a bigger value in PROTEO. This is a very efficient approach. Add in the benefit that PROTEO Defi will allow you to use this sPROTEO asset, for example as collateral for lending. You can take a loan of egld while your collateral sPROTEO continues growing automatically. 

Our withdrawal mechanics are set up to avoid short term gamblers. A speculator can attempt to do a one-week trade, but they will pay a heavy fee for draining the staking rewards of long-term holders and trying to turn a quick profit. For long term investors the fee will be next to nothing, especially if they hold more than 500 sPROTEO.

1 PROTEO equals 1 sPROTEO.

Autostaking is only for the staking of the PROTEO token itself. Farms will work with “claimable” rewards in order to let the user decide what to do.

sProteo is a token that is a representation of your “share” of the autostake pool. As an illustration of this, take the following example:

Day 1:
The total PROTEO inside the Pool is 1,000.
Investor A’s share: 500 sPROTEO
Investor B’s share: 500 sPROTEO
On this day 1 sPROTEO = 1 PROTEO

Day 30:
The protocol has been adding PROTEO into the pool every day.
The total PROTEO inside the Pool is now 1,400
Investor A’s share: 500 sPROTEO
Investor B’s share: 500 sPROTEO
However, on this day 1 sPROTEO = 1.4 PROTEO 

No, autostaking and farming are different tools. With autostaking, users will obtain sPROTEO as a representation of their share in the autostaking pool when they deposit into it and compounding will be done automatically. With farms, users will have to do their own compounding, just as they do on the Maiar DEX currently.

About Supply and Scarcity

The APR is not fixed in PROTEO Defi, just as APR’s are not fixed in the Maiar DEX. What is fixed is the rewards. In PROTEO Defi 30% of daily issuance goes to farms.

The Proteo token will be both minted and burned every day.

Every day 1/1000th of the gap between current supply and max supply (20M PROTEO) will be minted and distributed into several wallets (functions). This is explained more in depth in the whitepaper. 

Sure, let us explain with an example:

Imagine the protocol trying to search for 20M tokens (it will never actually reach that number). Say we are at the original circulating supply of 3.5M tokens.

The smart contract measures the distance between the two (20-3.5 = 16.5M PROTEO) and attempts to draw a formula to achieve that number in 1000 days. The daily mint in that scenario would be: 16,500,000/1,000 PROTEO… or 16,500 PROTEO.

The next day it will be recalculated, but then the distance is 16,483,500 PROTEO until 20M, resulting in a lower issuance: 16,483 PROTEO. The daily issuance then continues decreasing day after day.

PROTEO is more scarce than people realize. 

We realize that a supply of 20 million tokens is less than either Bitcoin or Elrond. It is not our intent to surpass projects like these. We simply used projects like them and even commodities such as gold that equate scarcity with value as examples. It is our belief that the low supply, thus scarcity, of Proteo will result in high value for our investors.

The simple answer is both. We are creating a system where the Treasury itself will buy Proteo every day to burn it (creating continuous demand in the market) with a very scarce supply. Factor in all the uses we are creating for our token like sPROTEO collateral, dual farms for partners, lending, LP’s, and many more, and Proteo’s price will rise because of both supply and its utility.

About Raffles

There will be two kinds of raffles:

1.- Holders Raffle: Only investors with more than 500 sPROTEO will participate. This is exclusively for long-term, strong investors.

2.- Golden Fish Raffle: This raffle is open to anyone buying tickets using PROTEO.

Both raffles will have similar prizes, depending on the ticket sales for the open events. We can’t give specific hints about prizes at this time, but we anticipate crazy numbers every 15 days for the raffle treasury chests.

Proteo Raffles are an added fun feature for our investors but will also play a key role; first because they add value to the PROTEO tokens in our autostaking (sPROTEO) and incentivize people to increase their positions to the minimum necessary to participate. Secondly, they are important because they add to our continuous burn mechanism in that only 9 of 10 raffles have a winner, the tenth gets burnt.

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