TLT Finance — Next Steps.

TLT Finance has been active for around 20 days (Currently in a state of coma, we could say). The PHZT token was launched alongside 9 pools with different weights that are being used for Yield Farming. Also, Governance functionality for the token has been implemented allowing community users the creation of 3 different kinds of proposals. Everything is being done and operated on the Blockchain.

We could call this the first phase of the TLT Project. Sadly, the response we got for this first phase was not satisfactory (We already know about the lack of marketing and reach to the public), even though we were offering similar functionality than other Yield projects alongside a satire theme. Also, we considered that governance could have been a key differentiator that could set us apart from other Yield Farming projects, but it was not well received.

Adjustments had to be applied to the road map, and some changes to the original purpose of the Project have been done.

Hereby we present the next steps for TLT Finance.

2nd Phase — (Immediate implementation)

For this phase, the creation of a token that gives utility to PHZT is necessary. This token is called FRT

FRT is not a Governance Token, this means that you do not need to hold FRT in order to vote or create proposals, that is the role of PHZT. The role of FRT is to alleviate some of the interactions that the users have on the site. FRT is going to be rewarded every time someone creates, votes, Queues, Executes Proposals. Also, FRT is going to be Farmable on 3 pools.

- Stake PHZT to obtain FRT

- Stake PHZT-ETH UNI LP to obtain FRT

- Stake FRT-DAI UNI LP to obtain FRT.

FRT is a Deflationary elastic token, this means that it has a limited supply which changes on the basis of the total value of the coin. The initial supply of FRT is going to be 100,000 Tokens (Which will vary on each rebase). The oracle or in other words, the sync pool that will check the price of FRT is the Uniswap FRT-DAI pair.

FRT will always tend to be as close as 1 Dai as possible. So, 1 FRT = 1 DAI. The first liquidity put into the pool will be 500 FRT — 500 DAI. As initially, nobody has FRTs, we will try to avoid a liquidity leak with the following methods.

Rebase.

FRT will be eligible to rebase every hour. This is an Ethereum transaction that anyone that holds FRT can execute. It will only execute if the current FRT price is not leveled with DAI on the Uniswap pool. So for example, if inside the pool there are 1000 FRT — 1000 DAI, rebase won’t happen, but if there is a deviation, rebase will occur and FRT will increase on supply (If there is more DAI than FRT inside the pool) or decrease on supply (If there is more FRT than DAI on the pool).

Anyone that executes the Rebase operation will be rewarded with a Random number of FRTs (from 0.01% to 0.1% of the Total supply on the Treasury pool -> This will be explained in the next steps)

A normal use case will be the following.

  1. Someone wants to rebase and earn FRTs.
  2. They need to hold FRTs in order to rebase.
  3. They swap DAI for FRTs on the FRT-DAI Uni pool which triggers a Rebase (Remember that rebase can only happen if DAI and FRT are not leveled)
  4. The person executes the Rebase and earns some FRTs.
  5. The person can choose to exchange FRTs for DAI or hold FRTs for when the Yield Farming pools open.

We call this the Rebase Game.

  • Rebase can only happen once every hour.
  • The window of rebasing is 5 minutes. From XXhr:00min to XXhr: 04min:99secs.
  • Only one person can rebase and win FRTs, so you need to be quick.
  • If one-person manages to trigger the rebase, he will not be able to rebase on the next chance (To avoid bots).
  • A list of the Ethereum Addresses who have triggered a rebase will be displayed on the site. (Truncated)

This game will be active until the rewards end as we need to execute a rebase for FRT to always have a tendency to 1 DAI. But this will be the only source of obtaining FRT for the First 3–4 days.

After the 3–4 days period pass the FRT farming pools will start to open.

The first pool to open will be the FRT-DAI UNI LP pool -> PHZT-ETH UNI LP pool → PHZT Pool. Each will open 1 day after the other. After 3 days, the 3 pools will be active.

Initial FRT distribution will be as follow.

Each Yield Farming pool has a different RewardRate which reflects the importance of each pool. FRT1 will have a higher reward rate and FRT3 the lowest. We will try to keep a decent APY% that will not detriment the liquidity that stays on the FRT-DAI pool.

The yield Farming pool reward reduces every 7 days. The reward rate will be getting lower as time passes.

Treasury

The treasury is a special contract that is in charge of paying FRT for each transaction that a user makes on the site, which includes: creation, voting, Queueing, Executing Proposals, and Rebasing.

Each transaction has a different weight for earning FRT. Plus the Rebase transaction will always give a Random reward between a range.

Consideration for Phase Two

  • FRT is not a governance token.
  • For the first 3 -4 days. FRT can only be earn by rebasing.
  • Rebasing will have to happen forever in order to keep the price of FRT stable.
  • The supply of FRT will vary according to each rebase, and it will affect the amount of FRT that anyone holds, including the contracts. For example, if you had 100 FRT and a negative rebase occur, then you will have 90 FRT **The coin, instead of losing value, adjusts its total supply accordingly. You will always keep the same proportional amount to the Total Supply.**
  • Yield Farming will end when the pools are out of rewards.
  • The governance module can affect parameters of all the contracts including pools or treasury rewards, so proposals can be created to change these rates. (If necessary).

3rd Phase — (Long term implementation)

More details of this phase will be provided as we get closer to the implementation of it. Meanwhile, a brief abstract of it is going to be presented.

This phase involves the creation of fancy NFTs that will give utility to both FRT and PHZT. The NFT concept will try to exploit the collectible nature that people have and also give meaningful value for trying to get this kind of tokens.

A token will have a set of metadata attributes that will modify its:

  • Color
  • Eyes
  • Face Characteristics
  • Accessories (Like this unicorn horn)
  • Rarity (Common, Rare, Epic, Legendary)

Also, according to the NFT that you get and the combination of metadata that you obtained. The site will provide you with a legend for your token. For example, if you get poop that looks dry, the legend will be like “You are not taking enough liquids, try to drink at least 3 liters of water a day” or if the poop looks yellow, “You may have complications on your colon, you should visit your hospital for a checkup”. )

The purpose of this is that people need to be more aware of their excrement and how it tells the current status of your body.

How to obtain this kind of tokens.

Users will have to mix a certain amount of PHZT and FRT in order to produce a Random NFT. Also, a small amount of eth will be required.

This eth amount will go to a Fund contract which after a period of time (30 to 60 days) the total amount of Ether that is obtained, will be donated to a Cancer of Colon/Stomach research/foundation/hospital that may accept Ethereum transactions.

Whom to donate will be decided by a Governance proposal.

Considerations for Phase Three.

  • Phase two needs to have better results than phase 1
  • This a long-term functionality, it may take some time to reach here.
  • We are already looking into NFT designers for the cutey poop things.
  • This phase aims to be meaningful.

Useful Links:

Toilet Finance: https://toilet.finance/

Discord: https://discord.gg/2gqv8RB

Twitter: https://twitter.com/FinanceTlt

Telegram: https://t.me/tltfinance

Digest your food Tokens, produce PHZT and FRT. Grow the project through Governance proposals.