Exploring MasterUniverse v2

Everything you need to know about the new MasterUniverse staking contract.

Here we are!
Dear community, we are glad to release the new version of our staking system. The team worked hard to release this new contract with much less gas consumption, more security and still so many specific features.

NOVA v2 on Uniswap

Check below all the details you need to know.

What is MasterUniverse ?

Our MasterUniverse contract brings the time-tested power of the Sushiswap MasterChef with a newly conceived idea to minimize whale dominance. In line with our mission of delivering access to users, this gives them a leg up over the whales!

It comes with several features too, explained in last articles like :

  • Halving system,
  • Degressive fees,
  • PlasmaPower and buff rate algorithm.

Bonus multiplier is still here for the second version, we keep it to boost the new launch, for the first 24 hours only, stakers will receive a 2x staking bonus reward on their NOVA!

What has changed?

To solve our gas consumption issue, we redesigned the system as a whole and created a new logic, which needs low gas consumption and of course no loop. We’ve made a deep gas consumption audit on this new contract to be sure it can handle several thousands of users.

All details on gas consumption issue here : Concerning Gas comsuption issue

We introduced a new security feature to prevent DDOS attacks.

As the contract state grows with the number of users, we had to add security to prevent people from creating thousands of accounts with very little LP tokens. Therefore we installed a new threshold of minimum LP token required.

As you already know, PlasmaPower is the name of our staking adjustment, introduced in order to limit the power of whales. We bring some changes here to improve the gas consumption.

This is how it works now :

  • The PlasmaPower calculation uses a formula to create an adjustment factor
  • Rewards = rewards of the mining pools * PlasmaPower / total PlasmaPower
  • PlasmaPower = user staked amount * buff rate

This, again, is the key to our equitable staking mechanism. The buff rate that a user is entitled to will vary based on how much the KOMET / ETH Uniswap LP he has. it’s updated after each withdrawal and deposit.

  • Casual — buff rate 12 : ~32% of users : <= 2 LPs
  • Common — buff rate 10: ~52% of users : <= 15 LPs
  • Committed — buff rate 8: ~12% of users : <= 100 LPs
  • Whales — buff rate 6: ~4% of users : > 100 LPs

Previously we built the halving system based on time. You have to know that miners are capable of adjusting the block timestamps, so during cycle change, a system based on time can bring some opportunity to manipulate the reward.

To prevent this, we now base all the calculations on top of block number as accuracy and security are critical for us. It doesn’t change the main logic as we can predict approximately how many blocks by day.

So the halving cycles will stay at 10, 30, and 70 days post-launch.

What is NOVA ?

For those of you who have just discovered the Komet universe, let’s recap some key points.

First and foremost, Nova will be Komet’s governance token. Nova is an ancillary token that functions like a first-class ticket on Komet’s journey through the DeFi universe. However, Nova does not get a free ride on this journey. Users still must hold a minimum amount of Komet in order to access the features that Nova may bring. We describe our ‘solar system’ that Komet and Nova belong to as a financial strategy collective (FSC).

Nova is intended as a utility for long term users of our FSC. We are, of course, aware that short-term yield hunters will try to exploit Nova. As such, we have designed Nova staking to appeal to long term users and combat the yield hunters: an attractive initial APR, a sustainable APR for the entire staking duration, high unstaking fees, minimal excess runaway inflation, and low initial liquidity for the NOVA/ETH pair.

Some observers may note that low liquidity is a negative thing.

We, however, view it as a positive: it is another deterrent against dumping. To emphasize again: we are not a farm and dump project. If you are not interested in reaping the benefits of NOVA, please do not stake. We are committed to building a novel, powerful, and accessible way of interacting with the DeFi universe. Hollow farm and dump schemes with no substance behind them are not in line with our values and mission.

We start again from the beginning including the minted data from NOVA v1. Staking will last 5 months with 3 halving cycles taking place at 10, 30, and 70 days post-launch.

For the first ten days, 0.0923 Nova will be minted per block, or approximately 600 Nova per day.

The first 24 hours, however, will have a 2x bonus on Nova rewards, with 0.1846 minted per block, or 1200 per day.

10% extra of this will be directed to the team. The total supply of Nova at the end of the 5 months staking period will match Komet at 30,000.

What’s new ?

You can now simply withdraw your NOVA and keep your LP in the pool

Fees start at 30% and decrease by 1% every second day until reaching 1% (60 days after staking).

We add new info on withdrawal or on new deposits to understand the operation which will happen.

Our previous server had some stability issues. We moved the website and application on a new one.

Contract : https://etherscan.io/address/0x25A6bef431377C14Ef3A0CeA1CC85657d6b91bfb

Two purposes :

  • Swap your NOVA v1 for NOVA v2 (1:1)
  • Get your reward for v1 staking if you still have LPs staked in the first contract

We have calculated the total amount of NOVA v2 needed for all rewards and to swap all the NOVA v1 in circulation : 2910.

This amount has been minted during the deployment and sent to the contract.

In this way, you can withdraw your reward or swap when you want.

For security, the team doesn’t have any way to take back these NOVA. And the ownership of NOVA has been transferred to the MasterUniverse contract.

  • The buttons will appear only if you have staked from v1 or have NOVA v1
  • It will be really easy, the website will guide you to migrate to v2 in few minutes

The detailed transition plan : https://financekomet.medium.com/transition-plan-7d4da124d14

Thank You

Finally, a big thank you to everyone in our community who has waited very patiently for this new release. We are very excited to share this phase with you and eagerly look forward to building the next.

Telegram: https://t.me/kometFinance
Twitter: https://twitter.com/FinanceKomet
Etherscan: https://etherscan.io/token/0x6CfB6dF56BbdB00226AeFfCdb2CD1FE8Da1ABdA7
Uniswap LP: https://info.uniswap.org/pair/0x577349ecd462a369ab71908a260ae1e2d8982b74

A community-powered hedge fund. Governed and owned by the people. For the people. Launching soon on Ethereum.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store