MetaWhale Reserve Management

How Does MetaWhale Handle Its Reserves?

MetaWhales have 2 reserves, a temporary reserve and a permanent reserve that reside within the deployed MetaWhale contract. The temporary reserves fill until a threshold percentage is reached. At this stage, anyone can call the “Manage Reserve” function on the dashboard, and the contracts will execute the appropriate changes to direct funds to the permanent reserve.

When an address calls the “Manage Reserve” function, the caller address gets added to a list of addresses that track the last 20 callers. For a caller to be qualified to manage a reserve and receive a reward, the caller must not be present on the list. This qualification prevents spamming by a single address.

The reserve actions depend on the MetaWhale.


MetaWhale Gold Reserve Actions:

  1. If the temporary reserve holds 0.25% of the total MWG supply, a swap of 85% of the temporary MWG reserve balance is made to wETH. A reward amount is registered as 1% of the MWG temporary reserve prior to the swap (1% of 0.25%) and that amount is minted to the caller address as a reward. All manager functions in the next steps will use this incentive value (the 1% of 0.25%) as a reference. If the temporary reserve does not hold 0.25% of the minimum threshold, calling the function will have no impact.
  2. The remaining 15% of the temporary MWG reserve balance is added to the DEX liquidity pool (50% converted to wETH, 50% MWG). Again, the unique caller is rewarded with another minted incentive as computed on point 1.
  3. 95% of the wETH (swapped from MWG in point 1) in the temporary reserve is swapped for PAXG and sent to the MetaWhale Gold reserve, which is also the MetaWhale Gold contract. Another reward is paid to the unique caller with a minted incentive as computed on point 1.
  4. The remaining 5% of wETH is swapped for PRIA and sent to the MetaWhale Gold contract. This creates a PRIA reserve. Again, the unique caller is rewarded with another minted incentive as computed on point 1.
  5. If the PRIA reserve in the MetaWhale contract is greater than 1% of the total supply of PRIA, 20% of the PRIA reserve is sent to the PRIA airdrop address. If the amount of PRIA in the MetaWhale contract is less than 1% of the total supply of PRIA, the reserve manager resets and goes back to point 1, and it does not send funds to the airdrop address nor perform actions of points 6 to 8. The unique caller is rewarded with a minted incentive as computed on point 1 if the PRIA reserve is greater than 1% of the total supply. If the PRIA reserve is less than 1% of the total supply of PRIA, that reward is halved.
  6. 70% of the PRIA reserve is sent to PRIA SIE NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1.
  7. 5% of the PRIA reserve is sent to the Marketing NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1.
  8. 5% of the PRIA reserve is sent to the DEFILABS NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1. At this point the reserve actions revert back to check point 1.

Dashboard Console Screenshot:

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MetaWhale BTC Reserve Actions:

  1. If the temporary reserve holds 0.35% of the total MWBTC supply, a swap of 85% of the temporary MWBTC reserve balance is made to wETH. A reward amount is registered as 1% of the MWBTC temporary reserve prior to the swap (1% of 0.35%) and that amount is minted to the caller address as a reward. All manager functions in the next steps will use this incentive value (the 1% of 0.35%) as a reference. If the temporary reserve does not hold 0.35% of the minimum threshold, calling the function will have no impact.
  2. The remaining 15% of the temporary MWBTC reserve balance is added to the DEX liquidity pool (50% converted to wETH, 50% MWBTC). Again, the unique caller is rewarded with another minted incentive as computed on point 1.
  3. 47.5% of the wETH present on the temporary reserve is swapped for renBTC and sent to the MetaWhale BTC reserve, which is also the MetaWhale BTC contract. Afterwards, another 47.5% of wETH is swapped for renBTC and sent to a BTC burn address. Again, a reward is paid to the unique caller with a minted incentive triple the size of that computed on point 1.
  4. The remaining 5% of wETH is swapped for PRIA and sent to the MetaWhale BTC contract. Again, the unique caller is rewarded with another minted incentive as computed on point 1.
  5. If the PRIA reserve in the MetaWhale contract is greater than 1% of the total supply of PRIA, 20% of the PRIA reserve is sent to the PRIA airdrop address. If the amount of PRIA in the MetaWhale contract is less than 1% of the total supply of PRIA, the reserve manager resets and goes back to point 1, and it does not send funds to the airdrop address nor perform actions of points 6 to 8. The unique caller is rewarded with a minted incentive as computed on point 1 if the PRIA reserve is greater than 1% of the total supply. If the PRIA reserve is less than 1% of the total supply of PRIA, that reward is halved.
  6. 70% of the PRIA reserve is sent to PRIA SIE NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1.
  7. 5% of the PRIA reserve is sent to the Marketing NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1.
  8. 5% of the PRIA reserve is sent to the DEFILABS NFT holders. Again, the unique caller is rewarded with a minted incentive as computed on point 1. At this point the reserve actions revert back to check point 1.

Dashboard Console Screenshot:

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