Current smart contract and front-end functionality will not be monetized through this model, nor will the core maintainers cease to expand upon these offerings. This means that swap fees, farm yields, price quotes, existing UI, etc. will remain the same for all users, independent of SAUCE Pro. Likewise, upcoming features such as the CLMM, MetaMask integration, and Community Pools will be open to all. In other words, SaucerSwap will always be free to use, thereby upholding the permissionless ethos of DeFi integral to the ecosystem.

SAUCE Pro assigns a novel payment function to the SAUCE token, creating tangible utility and driving demand tied to the adoption of the DEX. Additionally, it establishes a new revenue stream for the underlying business, supporting the growth and maintenance of SaucerSwap.

SAUCE Pro will ship with the following features: user-specific transactions, overview charts, an AI assistant, an early access pass, and 1-minute price data.

User-specific transactions

SaucerSwap maintains a record of all transactions associated with an account ID. These transactions date back to the launch of the DEX and are labeled based on the type of operation (i.e., swap, add liquidity, remove liquidity, stake LP tokens, unstake LP tokens, single-sided staking). The transaction table updates once every 5 minutes and may be exported as a CSV file compatible with popular crypto tax software such as Koinly. This breadth and granularity of data will streamline accounting and empower users who wish to do further trading analysis in third-party software.

Overview charts & 1-min price data

Subscribers will have access to a multi-timeframe chart of their account balance, which tracks token, staking, and liquidity positions. This affords users the ability to track their portfolio performance over time, compare it to the broader market, and better allocate their capital in line with their risk tolerance and investment goals.

Furthermore, SAUCE Pro will unlock high-resolution, 1-min price charts on the Swap page. This real-time data will be available in both USD and HBAR denominations (e.g., HST/USD and HST/HBAR) and will extend over a 1-hour range. Non-subscribers will still have access to the hourly price charts; however, the resolution will remain at the current 5-min resolution.

Early access pass

The early access pass is yet another perk of SAUCE Pro. Similar to the historic utility of the Planck Epoch NFTs, this pass grants subscribers access to beta features. For instance, users may have the option of staking xSAUCE in Community Pools a couple of days before the general public, thereby allowing them to reap lucrative APRs. This beta approach also allows core maintainers to deploy bug fixes before releasing a more stable version of the feature to the public.

ABOUT SaucerSwap

SaucerSwap is a decentralized exchange (DEX) that leverages the Hedera Smart Contract Service (HSCS) to include Solidity smart contract integration with the Hedera Token Service (HTS). These smart contracts implement an automated market maker (AMM) protocol, which facilitates token swaps within liquidity pools.

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SaucerSwap WHBAR Migration. HBAR native staking on the SaucerSwap protocol, which requires some user action to continue earning a percentage of swap fees and, where applicable, farm emissions. HBAR native staking rewards are now live on the Hedera mainnet, which opens the door for SAUCE staking — slated for November 2022.

Single-Sided Staking Recap

An Introduction to Single-Sided Staking on SaucerSwap outlines how SAUCE can be staked in the Infinity Pool in exchange for a receipt token called xSAUCE. There is no risk of impermanent loss with this type of liquidity provisioning since only one asset is involved.

The ratio of SAUCE / xSAUCE increases due to SAUCE buybacks from three distinct sources: swap fees from all pools, farm emissions, and HBAR native staking rewards. Here, users may redeem their xSAUCE for SAUCE at a higher exchange rate than when they deposited. In this regard, the mechanism functions similarly to Stader liquid staking, i.e., HBAR / HBARX.

xSAUCE an essential component of the SaucerSwap ecosystem, as it will connect users with HTS projects via Community Pools.

WHBAR and Native Staking Explained

HBAR not an HTS token — analogous to ETH vs. ERC-20 — so it must be wrap to interact with the SaucerSwap contracts. This is achieve via a smart contract that stores incoming HBAR and mints wrapped HBAR. These WHBAR tokens are used to provide liquidity in SaucerSwap’s decentralized exchange. When liquidity is withdrawn, WHBAR tokens are sent back to the smart contract and burn, and an equal amount of HBAR is return to the user.

With the introduction of native staking, the HBAR in this smart contract can be dynamically staked to a permissioned node to generate real yield for users. Since Hedera does not impose slashing or lockup periods, SaucerSwap users can withdraw liquidity instantaneously. The current amount of HBAR deposited in SaucerSwap’s WHBAR contract is over 130Gℏ (eq. to $7.8MM @ $0.06 per HBAR), which can generate significant yield for both xSAUCE holders and the DAO Treasury.

The native staking mechanics of the WHBAR contract are described in the above figure. Here, the WHBAR contract is deployed, setting the stakedAccountId to a simple smart contract. This StakeToSetter contract has an admin key to select a node for staking and allows its beneficiary to withdraw the accrued rewards. The WHBAR contract will not have an admin key and will therefore be completely decentralized.

Once daily, at a random time, an allocation of HBAR native staking rewards is pulled from an intermediary payment splitter contract. This HBAR is swapped for SAUCE in the BrewSaucer contract before being sent to the Infinity Pool. Since the ratio of SAUCE to xSAUCE in the pool increases, so does the relative value of xSAUCE.

What this means for you as a Liquidity Provider

For SaucerSwap to take advantage of native staking rewards, a new WHBAR contract must be deploy. This deployment will cause minimal interruptions; however, it will require some user action.

All liquidity pools containing the existing WHBAR token will be deprecated, i.e., no longer used to route swaps; instead, upgraded pools containing the new WHBAR token will be use. Users will be able to withdraw liquidity from the deprecated pools at any time; however, they will no longer have the ability to provide liquidity to these deprecated pools through SaucerSwap’s website. Instead, the site will automatically direct all deposits to the upgraded pools.

The SaucerSwap team will create upgraded pools for all supported pairs (i.e., those with farms) to ensure a smooth user experience. The one-time fee associate with creating other pools will lower to $10 for one week following the migration, after which it will be set back to $50.

Therefore, we encourage all liquidity providers to do the following once directed by the SaucerSwap team:

1. Identify if you are providing liquidity in a pool containing WHBAR — all existing pairs containing HBAR fall in this category.
2. If you have LP tokens containing WHBAR, unstake those LP tokens on the farm page if applicable — these deprecated farms will be found in the “inactive” tab.
3. Withdraw your liquidity for pairs containing WHBAR in the “My Pools” tab on the liquidity page.
4. Provide liquidity to the same pair — for example, if you withdraw HBAR-SAUCE LP tokens, provide liquidity back to the HBAR-SAUCE pool. Our site will automatically route your liquidity to the upgraded pools.
5. If applicable, stake those LP tokens in the new farm to receive HBAR and SAUCE emissions.
6. Be mindful of the inverse relationship between APR and liquidity — those who stake first will receive a higher yield.

Once the new WHBAR contract is deploy, farm emissions to support pools containing the current WHBAR will set to zero. Afterwards, these farms will appear in the inactive tab of the farm page, as seen in the figure below.

A new farm will be create for each existing farm containing HBAR. The same token pairs will be incentivize (with the same farm weight). The only difference here is the use of the new WHBAR.

Summary

A new WHBAR contract will be deploy, coinciding with the release of single-sided staking in November. When this occurs, users are encourage to withdraw liquidity from existing pools containing WHBAR & deposit it in upgrade pools to continue earning swap fees. If a deprecated pool has a corresponding yield farm, a new farm with an identical weight will create for the upgrade pool. Our team will provide frequent updates as we approach this migration date, representing an exciting milestone for the SaucerSwap protocol.

About SaucerSwap

SaucerSwap a fork of Uniswap v2 that leverages the HSCS to include Solidity smart contract integration with the HTS. These smart contracts implement an AMM protocol, which facilitates token swaps within decentralized liquidity pools.

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Dovu X SaucerSwap Partnership Announcement

Dovu partnership with SaucerSwap which is all about ensuring that our users can acquire DOV in the easiest, cheapest way possible – taking advantage of SaucerSwap’s speed and cost advantages as a decentralised Application.

With Hedera, exchanges cost 5 cents – instead of having to wait minutes for exchanges to happen, they happen in seconds.

Anyone that wants to participate in the Dovu project in tokens will be able to acquire them from SaucerSwap using Hashpack, without having to pay the high gas fees of being on the Ethereum network. With this partnership, the Dovu mission is easier than ever before – furthering our community-led vision to offset carbon utilising the transparency of blockchain and DLT technology.

In addition, SaucerSwap are also providing a liquidity mining feature – enabling users to gain sauce tokens for greater rewards. This is all done without the need to interact with the Ethereum network, providing a secure, reliable, and rapid pathway to ‘a permissionless and trustless environment’ for a simple token-swapping platform.

They’re beyond excited this partnership, means for the future of the Dovu mission & look forward to keeping you updated.

About SaucerSwap

SaucerSwap a fork of Uniswap v2 that leverages the HSCS to include Solidity smart contract integration with the HTS. These smart contracts implement an AMM protocol, which facilitates token swaps within decentralized liquidity pools.

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About Dovu

Building the trust layer for carbon offset integrity. They implement carbon sequestration practices to tokenise carbon credits & make it easy for organisations to offset their carbon footprints. Powered by Hedera Hashgraph.

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