dust Protocol
The dust Protocol provides traders with a opportunity to individually or collectively, divest themselves of depreciated ERC-20 tokens for $memeBits rewards.
dust Protocol Overview
The Protocol relies on three internal contacts: The B of M Contract, the B of M Oracle Contract and the B of M Rewards Contract.
B of M Contract
The B of M contract acts as the hub of the Bank of Meme. Interacting with internal and external contracts to facilitate the transfer of value to B of M users.
What B of M Contract Does?
The B of M contact holds Order data, executes swaps, provides data for rewards, and executes buy burns of $memeBits tokens:
Order is created and data for that order is stored in the contact on the Ethereum blockchain.
When the Goal is met the contract executes a trade through Uniswap's v2 Protocol.
Rewards are calculated using the Data stored on the B of M contact and the pricing information in the B of M Oracle contract.
WETH received from successfully completed Orders is used by the B of M contract to buy $memeBit Tokens.
$memeBits purchase by the B of M are sent to a dEAD address directly from the contact.
B of M Oracle Contract
The Oracle contact is used to ensures that Orders are not sandwiched during swaps, $token or $memeBits prices aren't easily manipulated.
What The B of M Oracle Does?
When an Order reaches it's Goal and a trade is executed on Uniswap the Oracle provides minimum amount of WETH to be received for the $tokens. This prevents sandwich attacks.
When an Order is completed the Oracle provides the B of M contact with the TWAP of the $token at the time of that time.
When rewards are claimed the Oracle provides the $memeBit TWAP to be used to reward calculations.
B of M Rewards Contract
The Rewards contract distributes $memeBit rewards to B of M depositors.
What the Rewards Contract Does?
The Rewards contract holds $memeBits rewards and interacts with the B of M contact and the Oracle contract to transfer $memeBits to B of M users:
The Rewards contract holds $memeBits that will only ever be used to reward depositors for successfully completed Orders.
Depositor claims are made through the Rewards Contract which used the Oracle for $memeBit value and the B of M for reward totals.
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