Monthly Wrap Up

Summary

November observed continued progress of smart contracts, UI and concepts for Spartan Protocol positioned to close out the year strong. Maybe with a few additional features before 2021? Fingers crossed!

Spartan Protocol finds itself between the initial token distribution phase and the crucial step of locking up liquidity in the pools to build a robust base for SpartanSwap and Synthetics/Lending platforms.

• DApp providing a much better user experience
• ‘Bond+Mint’ phase enabled
• ‘Burn’ phase ready to be closed off

Spartan Protocol is set to silently raise its head and surprise many over the coming months with:

• Enabling the DAO user interface + DAO V2 smart contracts
• Shifting ‘Bond+Mint’ into a higher gear
• Increase liquidity provider incentives with ROUTER V2
• ‘Shares’ page for better SpartanPools UX
• WalletConnect integration

Spartan Communications

Communications were fairly quiet in the October month for Spartan Protocol. Being a community project, the responsibilities of such things are not on the shoulders of any one person.

The community members who originally looked after the socials through the previous months shifted commitments which led to the recruitment of some additional loyal Spartans in November to help share the load.

These Spartans have put their hand up to collate and comment on the developments every week and provide a more rounded wrap up for the community every month. What you are now reading is an example of the monthly wrap-up.

Anyone who would like to contribute, please reach out in the community channels. Open source doesn’t just apply to code! Words, ideas, memes and graphics all help, any ideas you have that might help please reach out!

SpartanPools — Liquidity Pools Stats

TVL in the pools has fluctuated around the $1M mark throughout November, with no targeted push to drive liquidity into the pools as yet.

This is a low number in the scope of things, however, the focus has been on contracts, distribution and DApps to have everything prepared for the proper utilization of such liquidity. We do not want to pump a hype train without the maturity of the protocol to back it.

Bond+Mint — Next Phase of SPARTA Distribution

November saw the community-moulded token distribution idea of ‘Bond+Mint’ come to life. After testing, feedback and iteration throughout the month, an allocation of SPARTA is now ready for minting through ‘Bonding’.

The ‘Bond+Mint’ phase will now take centre stage of the SPARTA token distribution, aiming to lock up deep, long-term liquidity in the SpartanPools. With the ‘burn’ phase finally being closed off very soon, we will shift the remaining ~45m SPARTA initial token distribution allocation to the bond program.

This alternative method of distribution allows a user to input an asset (currently BNB, BUSD or USDT) and have an equal-value amount of SPARTA minted (at ‘swap rate’, which means slippage applies). It then adds both assets to their relevant pool.

It vests the LP tokens created from this bond to the user over 12 months, claimable every second, just like the harvest feature.

The DAO can propose assets to enable for the bond program when enabled fairly soon.

For more info on the progress of Bond+Mint:

Bond+Mint on Spartan Protocol
Bootstrapping Liquidity + Initial SPARTA Token Distributionspartanprotocol.medium.com

Incentives — The ROUTER Contract

As it currently stands, incentives for liquidity providers are based on slippage fees which are added to the pool’s balance when any user executes a swap. The new structure will boost the incentives into active pools.

An example:

• Sharon is pretty keen on obtaining some SPARTA
• She visits the SpartanPools DApp looking to swap BNB for SPARTA
• Upon inputting 50BNB, Sharon receives the following information:

• If Sharon proceeds, she will swap 50BNB for ~38,684 SPARTA after fees & slippage
• The ‘Fee:’ of 176 SPARTA goes directly to the pools to thank the liquidity providers for providing enough depth to meet Sharon’s needs

‘Bond+Mint’ is now ready to encourage liquidity into the pools, but the incentives need alignment with the new landscape.

With the current ROUTER V1 contract and ‘Bond+Mint’, when a user performs a ‘Bond’, they receive their LP tokens gradually over 12 months. As they steadily receive their LP tokens, they can lock them in the DAO and earn ‘Harvest’ rewards. SPARTA emissions from the BASE are currently 100% allocated to the DAO incentives address and emitted to users who stake their LP tokens in the ‘Earn’ page. This means their ‘staking’ incentives are only gradually realised.

ROUTER V2 proposes a shift from this initial structure to one which allocates these emissions directly into the pools along with the fees whenever a swap is processed. The users will now realise their extra yield on the removal of liquidity from the pools rather than whenever they press the harvest button.

This will result in the same overall rewards for the harvest-focused users; the primary objective for the change is to directly incentivise users who add liquidity to the pools regardless of their level of activity within the DApp, which includes users who ‘Bond+Mint’.

Another objective of this is to ensure there are no incentives driving utilization away from important proposed features such as Synthetics. In the current ROUTER layout, we would see potential Synthetics users hesitating to remove their ‘harvest’ LP tokens from the DAO for using in Synthetics as they might not want to lose out on that extra ‘harvest’ yield. The proposed changes bring the incentives to the base mint level rather than somewhere else. This means the utility of the LP tokens won’t be hindered by incentives and the user will be free to experiment with the features the LP tokens provide without worrying about losing out on SPARTA emissions.

ADD: ROUTER V2 · Issue #40 · spartan-protocol/spartanswap-contracts
Receives incentives from BASE Sends 10% to DAO Keeps 90% in reserve that leaks out over 30 days Every time a swap…github.com

DAO

Despite it being quite clear the community has a dramatic impact on the direction of Spartan Protocol even without the DAO yet enabled, the time has finally come! With sufficient token distribution and the newly added DAO features, it seems a suitable time to enable the DAO and allow the community to make direct decisions to help shape the Spartan Protocol ecosystem.

Community contributors have put up their hands to help connect the smart contracts to the DApp leading into the Christmas season, over the next week we will see the start of the DAO user interface being rolled out on a GitHub branch for the public to help establish on TestNet. Feedback will then shape the UI with some proposals then added to MainNet for public testing (maybe list/delist pools, add assets to Bond+Mint etc)

V2 of the DAO smart contract is also being worked upon with some variations and potentially extra features however the existing DAO v1 is sufficient to roll out as is!

ADD: DAO V2 · Issue #42 · spartan-protocol/spartanswap-contracts
Dismiss GitHub is home to over 50 million developers working together to host and review code, manage projects, and…github.com

Shares Page

Now that the calls have been optimised sufficiently and the DApp’s initial load time is sustainable; December should also see the beginning of a public ‘Shares’ page for the SpartanPools DApp enabling users to easily see their current LP positions and work out how they are performing.

Once again we have had some excellent support from the Spartan community providing information and code that will help build out this long-awaited feature. Spartan community contributors have put up their hands to work on this leading into Christmas along with the above features, keep an eye out!

Thanks to Nate for taking the time and effort to create this excellent mockup using the Balsamiq wireframe software! Big ups to Balsamiq for providing a few of the community contributors with license codes, thanks for helping support open source development!

Wallet Integration

Another popular subject within the community is wallet support. MetaMask is currently the only way to interface with the Spartan Protocol DApps, however, the DApps are now at a point where they are ready to integrate other wallet options.

The focus was first applied to optimizing the calls within the DApp before making things potentially messy with multiple wallets. Worth noting that all critical information the DApp displays comes directly from calling Binance Smart Chain’s blockchain rather than cached on centralised servers.

Hence the contributors wanted to get all that right before shifting focus on integrating other wallets. The next integration that the contributors have put their hand up to work on is the WalletConnect open protocol. Binance Wallet will probably follow straight after, as it should be almost the same as MetaMask in terms of integration.

Work is slated to begin on WalletConnect after the DAO UI v1 & shares UI v1 pages are ready to merge to master.

November Development Activity

SpartanPools DApp

61 Issues Closed

SpartanContracts

5 Issues Closed

SpartanDev: 16/11/20–22/11/20

SpartanDev: 16/11/20–22/11/20
Dev Update: Bond+Mint | SpartanSynths | SpartanPools | SpartanSwapsspartanprotocol.medium.com

SpartanDev: 23/11/20–29/11/20

SpartanDev: 23/11/20–29/11/20
Dev Update: Bond+Mint | SpartanSynths | SpartanPools | SpartanSwapsspartanprotocol.medium.com

SpartanDev: 30/11/20–06/12/20

SpartanContracts — Router V2

• Router v2 automated testing now complete
• Router v2 now live + testing on TestNet

routerv2 · spartan-protocol/spartanswap-contracts@b1fa2d0
You can't perform that action at this time. You signed in with another tab or window. You signed out in another tab or…github.com

SpartanPools — Liquidity Management UI:

• Liquidity management interface recreated
• The main purpose was to have most/all critical UI elements on the same screen and improve UX
• Contributors will help make the UI more ‘elegant’ later

Road Map

Community Contribution

SpartanProtocol at is at its core a community-driven and led project. In this vein, the more contributors the better. There is a great opportunity for community members to contribute by making LP reward analysis tools, etc.

If you have an idea, share it in the community channels.

Engage with the community and developers

Where to find out about all the latest updates or suggest improvements — get involved.

• Github: https://github.com/spartan-protocol
• Medium: https://medium.com/spartanprotocol
• Twitter: https://twitter.com/spartanprotocol
• Telegram Community: https://t.me/spartanprotocolorg
• Telegram Announcements: https://t.me/spartanprotocolann