Converting IC into SACRED
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Once the user transfers the IC into the , it’s ready to be swapped into SACRED. Users will need to use Sacred’s Automated Market Maker (SAMM) to exchange IC to SACRED.
SACRED will be dripped continuously into the AMM. Like an auction house, there will only be a limited amount of SACRED swapped (or auctioned) per day. It means the cost to swap (bid) IC for SACRED varies. Thus, Users must be strategic on when to swap, especially on days with high demand for the token.
Here's our formula inspired by Tornado Cash for how IC points are calculated and how the SAMM works respectively. The formulas were designed to reward IC based on deposit size and time (measured in blocks) and to also contract the IC/SACRED ratio based on the amount of demand on the SAMM.
Where variables are: - S – SACRED mining program allocation S_{virt} – Virtual SACRED balance S_{withdraw} – Amount of SACRED that users have already withdrawn SACRED – Amount of SACRED the user will receive IC – Anonymity Credit to exchange W – SAMM exchange weight constant
