Galaxies Program (Indexes)
Galaxies Programs is an unique technique on DeFi world. It's similar to Index system. Users can deploy their own indexes with an amount of token ratios they provide. Every user who wants to join this index should have to mint the index token with providing same ratio on tokens, or they can buy index token directly from contract. There is also zap mechanism which helps user to join index with just one click.
Galaxies Programs will start with a Beta stage at the beginning. We will provide 5 indexes by Cosmosium Finance team. After the stable version release, users can create their own indexes at Index tab on DApp.
There are two types of fees applied to the Galaxies programs.
1) Minting fee : Minting fee is a fee that applied to transaction when a new index token is minted. It will be around %0.2 to %0.05. This percentage can be dynamically adjusted, most updated value can be trackable at the index card on Indexes tab. This minting fees will be distributed to the index creator.
2) Index creation fee : When a user wants to deploy his/her own index, he/she have to pay BUZZ tokens to deploy this index. Also for publishing on Community Indexes it requires another BUZZ tokens. This BUZZ fees will be burnt automatically.
3) Burning fee : Burning fee is a fee that applied to transaction when burning an existing index tokens to get component tokens back. It will be also a minimal percentage fee that will be used to burn $BUZZ tokens.
As a nature of index system that offers users to get multiple tokens with a transaction. We wont set summarize of minting & burning fees higher than %0.2.
It can be simply done by clicking 'Burn' button on the Index Card, then select the amount of tokens you want to burn. Also you have to approve index tokens to Index Contract. Afterwards, the index tokens will be removed from your wallet and burned. Then you will get the tokens inside the index automatically.
Index system can be a little bit confusing, but we worked a lot to make it easier and usable for everyone without any technical knowledge.
For example let say we have an Index with name INDEX A, and INDEX A has three tokens with amounts below at the beginning.
BNB : 10, BTC-B : 0.001, BUZZ : 100
And then let assume there is only one INDEX A minted and these tokens belong to that amount, so if another user wants to mint 1 INDEX A, then he/she must have to put same amount of tokens with same ratio to get 1 INDEX A token. Also fees will be included when minting.
The price calculation we used; Index Price : (TOKEN.AMOUNT * TOKEN.PRICEUSD ... TOKEN[N].AMOUNT * TOKEN[N].PRICEUSD) / INDEXTOTALSUPPLY
Ratio of tokens will always stays same. But the ratio of USD price will change by time. On website we show you the estimated USD price of tokens and estimated % ratio of token to the whole index on USD base price.
There are several versions of Galaxy system which offers improvements by time. With the initial version we release has a minimal specifications that only offers the standard index system we mentioned.
- Standart index creation.
- Minting with approve & transfer all tokens inside index with same amount ratio.
- ERC-20 Standard with all functionalities.
- Burn to get components(tokens inside index) back.
- Minting & Burning fees for buyback & burn $BUZZ.
- Router implementation for zap functionality.
- Zap function for users can mint a galaxy with any token he/she wants to pay with.
- Converting tokens will be handled at back-end.
- ERC-777 Standards with token receive notification implementation.
- Migrations for Version 1 indexes.
- Partners will be able to deploy their own indexes.
- Auto-compounded farm system for tokens inside index contracts to maximize earnings.
- Cosmic Farms for indexes.
- Users will be able to deploy their own indexes with allowed components.
- Users can earn fees from minting & burning index they deployed.
- Users can publish the indexes at our galaxy dashboard.
- Cluster Farms for partnered indexes.