Overview of AutoPUP
Below you'll find information related to our upcoming dApp AutoPUP.
UPDATE: It's been decided to move ahead with standard vaults as our first product which still provides utility to both PUP and BONE token holders through profit sharing and burning. The fees for the standard vaults will remain the same as seen in this document. This decision was made to get a product to market in the quickest time possible.
These documents outline the decentralized vault product. A separate set of docs will be drafted to outline the standard vault information. The fees portion of this document is still applicable to the standard vaults product.
AutoPUP (AP) can be described as a decentralized vault that can be utilized on any MasterChef contract on the Polygon network. The MasterChef contract is the main contract used on all farms. The purpose of AP is to auto compound or auto harvest. Fees collected from AP will be shared with PUP, BONE, and BALL holders. Fees will also burn PUP, BONE, and BALL to continue the deflationary mechanics of the these tokens.
Brief History
As a defi farmer I was tired of constantly having to auto-compound manually or harvest my rewards so I decided to create a simple smart contract that would handle this for me. It worked out fantastic and I no longer had to set an alarm in the middle of the night to harvest my rewards. I could sit back and watch my profits grow. Once PolyPup was started I thought this script could help all the users of PolyPup and provide utility for the PolyPup native tokens (PUP, BONE, and BALL).
Why Decentralized Vaults?
A decentralized vault is a smart contract that is deployed and controlled by a single individual. No one will have access to this smart contract except yourself. You'll have full access to the source code of the smart contract allowing you to verify it on any explorer to ensure it's safety. This smart contract handles all the magic that occurs with the auto compounding and auto harvesting where only your funds and your wallet will have access.
How does AutoPup work?
User chooses what farm they would like to join.
A contract is then deployed specifically for the user.
AP provides a list of pool/farms that is available on the farm, similar to vfat.
User chooses the pool they would like to farm and deposits funds.
A sanity check will occur to make sure the pool does not have 100% deposit fees
AP will deposit funds into the MasterChef contract.
User can select to auto-compound or auto-harvest.
Future updates will allow the user to choose how often to auto-compound or auto-harvest.
For farms with lock-up periods, AP will check and harvest the moment the lock-up period ends.
At the end of farming, users can withdraw funds back to their wallet.
There will be emergencyWithdrawal functions available.
Last updated
Was this helpful?