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52 lines
3.8 KiB
Markdown
52 lines
3.8 KiB
Markdown
# System Overview
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This document provides an overview of the system architecture and design of the staking system. We'll learn about the
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system components, their interactions, and the data flow between them.
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## Components
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1. **Account**: EOAs and smart accounts that participate in the staking system.
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2. **Stake vault**: A smart contract that maintains the account's stake. Accounts interface with the staking system
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through their stake vaults.
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3. **Stake manager proxy**: A smart contract proxy that delegates to the logic/implementation contract of the staking
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system. It maintains its own onchain storage. Stake vaults interact with the staking system through the proxy.
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4. **Stake manager implementation**: A smart contract in which the logic of the staking system resides. The stake
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manager proxy uses this contract to execute the staking system's logic. This contract is ugpradeable.
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5. **Karma distributor**: Systems that distribute Karma tokens on behalf of the Karma token contract. The staking system
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is one such a Karma distributor.
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6. **Karma**: An ERC20 token contract that issues Karma tokens to accounts based on their stake. In addition to its own
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balance accounting, it relies on Karma distributors to aggregate total balances of individual accounts. Karma tokens
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are not transferable.
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7. **Karma NFT**: An ERC721 token contract that maintains non-transferable NFTs of accounts that participate in the
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Karma program, either via the staking system or other activities. The Karma NFTs rely on the Karma token contract to
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render an account's Karma balance.
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8. **Accounts, DApps, Wallets**: External entities that consume the Karma tokens and NFTs.
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9. **DAO/Admin**: Entity that controls the contract and sets XP rewards in the system which will be distributed
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according to every participant's stake.
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## How the system works
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- Accounts (EOAs or smart accounts) create one or multiple stake vaults to stake their SNT and participate in the Karma
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Programme. In most cases, accounts will have only one stake vault, but nothing prevents them from creating more vaults
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with different configurations.
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- The stake vaults interact with the stake manager through the proxy by forwarding calls to the implementation contract.
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When an account stakes funds, their funds are moved into the stake vault and they will stay there until the account
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decides to unstake them.
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- While the account is staking, it will accrue Karma points based on the amount of SNT staked and the duration of the
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stake. The longer accounts stake, the more Karma they will earn.
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- By locking up their stake, accounts receive multiplier points that increase their initial Karma earnings upon staking.
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- At any point in time, accounts can view their Karma token balance in their wallets and how it updates in realtime.
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- In addition, every account receives an NFT that represents their participation in the Karma Programme. It will evolve
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as the account gains Karma.
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- Under the hood, multiplier points accrue over time. Accounts can compound their multiplier points to increase their
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Karma rewards in the system.
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- Eventually, an account will reach the maximum amount of multiplier points they can accrue based on their stake amount,
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at which point their total weight in Karma shares will no longer increase. They still earn Karma rewards set by the
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admin, according to their share.
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- Accounts can unstake their SNT at any time (unless locked up). When they do, they will receive their initial stake
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back, along with any Karma rewards they have earned, however, they will loose their multiplier points.
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- The Karma in the account's wallet can be used to access exclusive features or services within the Status app or other
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DApps that support the Karma token, like voting in governance proposals or participating in exclusive events.
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