Khan, our project lead is an inspiration! His vision is to establish a safe and secure home for his investors assets on the Polygon network and he has driven that goal from day 1.
This is why we are beyond PoC stage and are already about to launch. By the time you're reading this we may already be live!
What it does
It's a yield farm with automated variable emission rate indexed to the token price. The emission rate is calculated by using a curve when the token is within a set price range.
This goal is to automate APY control and to combat inflation.
Another method we have added to combat inflation is to divert a % of minted tokens to a burn only contract. This contract allows anyone to burn tokens that have accrued publicly.
How we built it
Built from scratch with React, Solidity + Truffle, AWS Lambda, S3, Webservices, CI/CD, Github, Gitbooks and Quicknode.
Challenges we ran into
- The first challenge was identifying a suitable curve calculation, which we did in consultation with many investors that have seen these things go wrong in the past.
- The second challenge was implementing this on an EVM that doesn't have fixed point arithmetic. For that we had to introduce a fixed point library which we have borrowed from the awesome CementDAO.
- The third challenge is that testing needs to be done on the Polygon mainnet because there is no test implementation of the QuickSwap router to establish liquidity pairings.
- The last main challenge is differentiation from let's face it a lot of strange projects out there and for this we have our master designer.
Accomplishments that we're proud of
- Consulation with investors and users first - to determine the parameters of our emission rate.
- Creating a fair launch system that puts investors first - no tokens are minted during emission to a dev address.
- Automating the emission rate connection to the token price and implementing the curve math.
- Creating a brand that we hope will represent Polygon well into the future.
- Adding a public burn capabililty shows we are have a sense of humour and community.
What we learned
- DeFi takes time and patience and there are a lot of pitfalls.
- Test, Test and Test more.
- Polygon rocks and we want to be at the center of it.
What's next for PolyShield
- Launch very soon (If not already launched by the time hackathon kicks off).
- Take care of our community.
- Adding NFT system to provide additional benefits.
- Becoming the most Safe, Secure and Sustainable place for investors to park their assets on Polygon