Staking and Restaking $TORTLE
After the launch, we plan to introduce a liquidity mining program in collaboration with Camelot DEX* (subject to approval by Camelot). To participate, users can stake LP tokens into Camelot Pools/Nitro Pools and receive a daily incentive of 0.2% of all volume, paid in stablecoins.
We are creating a Restaking Pool on Tortle Ninja, which allows staked $TORTLEs to be used as cryptoeconomic security for the protocol. This creates a capital protection scheme on the platform. Whenever a user starts a recipe, they can mark it as insured. If they do, 0.1% of the volume will go to the restaking pool. In case of protocol failure, deppeging, or hacks on any of the partners, the restaked assets will be used to refund the users.
At the same time, Tortle will incentivize Restakers with Tortle emissions and the 0.1% of all the volume protected. Tortle restaking works in 3-month epochs. At the end of each epoch, the rewards are distributed, and users can autocompound or withdraw their positions. During the maturation process, the restaked capital is locked.
The Restaking will have what we call "Total funding capacity" and a "Protected asset volume." If the protected asset volume is bigger than the funding capacity, users will be advised with the percentage the restaking fund can actually cover.
In case of protocol failure, deppeging, or hacks, an oracle will trigger the refund policy. The refund policy works as follows:
At the moment the oracle is activated, the prices of the assets on the Pool will be snapshotted, marking the Total funding capacity. Our team will calculate the size of the impact and refund affected users.
All refunds will be paid in $TORTLE Tokens.
Last modified 28d ago