Editor's note: This article is from Currency Encyclopedia (ID:coinwiki), author: Da Mao V587, reprinted by Odaily with authorization.
Since the second half of this year, the rebase currency has become popular, and the simple and rough gameplay of ampleforth has made many people unable to stop. Recently, there are Basis Cash, ESD, etc. Its design mechanism is much more complicated than that of AMPL, and its gameplay and game opportunities are also much more complicated, so that many people look at the interface in a daze and don't know how to play. Among them, I have seen several Chinese introduction articles on ESD, but they are all introductions to the mechanism. There are no simpler operation instructions, so I will write them today.
Let’s talk about the income first. Most of the information can be found through the esd.tools website:
When the price of TWAP is greater than 1 and ESD starts the positive cycle of additional issuance, it is in the bond state, and there are ESD of DAO and LP of ESD-USDC on Uniswap, both of which can get additional issuance income.Are the 2000% and 3000% annualized on the page exaggerated? But to tell you, during the positive cycle, the actual income is higher than this data. According to the actual measurement, on December 12, USDC was used to buy half of the ESD into the LP pool, and on December 17, all of them were sold into USDC, and the rate of return based on U was about 30%. Of course, during this process, the price of ESD currency has also risen from 1.02 to 1.3X. Excluding the income brought about by the increase in currency price, the actual additional issuance income still exceeds 10%.This is still the income gained from participating in LP. If all ESD is bought and stored in DAO, the rate of return will be 2.5-3 times that of LP, which is about 80% in 5 days, and as of the publication, this high return is still continuing... …But making money is so cool, and losing money is also so cool. At present, the ESD price has deviated significantly from $1, and risks are accumulating, which is why I retreated. Everyone please do what you can to participate.The specific operation is as follows:URL is app.emptyset.financeLet’s talk about participating in DAO first.
In the STAGE column, first put the ESD Stage, and then in the BOND column, convert the ESD in the Staged state to the Bonded state, and you can wait for the profit. After each Epoch, the income will be automatically added to the Bonded balance.It should be noted that once ESD bonded, you have to wait for 15 epochs to withdraw, 5 days is enough to lose a lot of money. This lock-up time will be reset when you add new lock-up funds.Then there is participation in LP.
First, you need to provide liquidity for Uniswap's ESD and USDC trading pairs, and obtain the corresponding LP Token. The specific operation of this step is skipped, and there are many tutorials.Similarly, in the STAGE column, convert the LP Token to Staged, and then go to the BOND column, convert the LP Token to the Bonded state, and you can wait for the income.The income will appear in Rewarded, at this time you have 2 options:(1) Claim ESD, that is, to withdraw earnings;(2) Prepare the corresponding USDC in the wallet, select Provide, and reinvest the proceeds. After selecting this option, it will directly increase the number of your Bonded LP tokens.Different from DAO, the lock-up time in the LP pool is 5Epochs, which is less than 2 days. The three operations of LP Token lock, Claim ESD, and Provide will reset the lock time.In addition, when in a negative cycle, you can also use ESD to purchase coupons on the Coupons page, which is not described in this article.
