Toronto, Canada
Introducing the STARS Master Chef Contracts and Mogul Growth Farming; exclusively on the Mogul platform in collaboration with the Uniswap protocol
According to Dune Analytics, Uniswap currently has over 300,000 monthly active users. Throughout the month of March, the protocol was adding nearly 2000 new farmers per day. Uniswap is the leading product in DeFi and we’re excited to announce the Mogul Growth Farming program to attract these users to the Mogul ecosystem and bring us one step closer to harnessing the power of the crowd and using crowd intelligence from STARS holders to make fan-driven and transparent independent films.
Mogul Growth Farming, which is a fork of Sushi Master Chef, will allow Mogul community members to earn more STARS over the course of the next few months by staking their tokens. Inspiration for this contract was taken from Sushiswap, who had the most successful user acquisition oriented farming campaign in the history of blockchain.
The audit of the contract was performed by Zokyo Labs and can be seen here.
STARS Master Chef will have two pools:
- STARS only pool: a pool where users can directly stake their STARS tokens
- STARS_ETH pool: a pool where Uniswap liquidity providers can stake their STARS_ETH tokens
A total of 40 million STARS tokens will be distributed to Mogul users through this growth campaign. 90% of the rewards will be distributed to the STARS_ETH pool and 10% of the rewards will be distributed to the STARS pool.
10% of STARS will be given to participants over a 3–4 month period.
The campaign happens in 3 phases, where fewer STARS tokens are given to supporters over time. This allows early adopters to earn more rewards from the respective pools that they participate in, and encourages more users to join the Mogul ecosystem and take part in the community-building activities that Mogul has to offer from an early stage.
Rewards are issued “pro rata” to pool participants. For example, during Phase 1, 20 STARS tokens are issued per Ethereum block to participants. Ethereum blocks happen approximately every 15 seconds and there are about 5760 ETH blocks per day, so for every block that you’re active in the pool, you will accrue STARS tokens that you can claim when you exit the pool.
Let’s use a simple example for the STARS pool with 2 participants named Alice and Bob.
- Alice has 100 STARS in the pool
- Bob has 900 STARS in the pool
- The total pool is therefore 1000 STARS
- Bob represents 90% of the pool and Alice represents 10% of the pool
If all variables stay the same from block to block, Alice will receive 2 STARS per block and Bob will receive 18 STARS per block. Each time a new participant joins the pools then the variables are changed to recalculate the share of the rewards that each participant can claim.
The STARS Master Chef contract is an Ethereum-based contract, which means that the campaign will be for STARS ERC20 tokens and STARS_ETH holders that receive these tokens from the Uniswap protocol for providing tokens to the ETH_STARS pool on Uniswap.
How It Works:
The image above displays information for illustrative purposes only. It is a mock up
Requirements:
- Own STARS tokens
- Have them in your Metamask wallet
- Be signed up at my.mogulproductions.com
Option 1: STARS only pool
- Connect your Metamask Wallet to the Mogul platform
- Click “Farming” in the sidebar of the Mogul platform once you are logged in
- Click “Approve” on the STARS pool contract. This is an Ethereum contract that is for your security and thus requires the user to make a transaction and pay the gas fees associated with the transaction.
- Click “Stake” and enter the amount of STARS tokens you wish to stake
The image above displays information for illustrative purposes only. It is a mock up
- The user will see the total amount of rewards that they have accrued from being in the pool and the total amount they have staked, as well as the reward rate that they are receiving on the STARS they have staked
- If the user wants to Claim or Unstake their tokens this is also a blockchain operation that will require the user to pay gas fees. When a user unstakes or claims their STARS tokens the total amount owed to the user is returned to their Metamask wallet. Claiming the tokens will allow the user to withdraw only their accrued rewards, whereas unstaking will withdraw all of their STARS in the pool and the accrued rewards that they have accumulated
Option 2: STARS_ETH Pool
If you’re unfamiliar with how Uniswap liquidity pools work, please watch this video that will show you how to use liquidity pools.
Reminder: anyone, including scammers, can post tokens on Uniswap. They may look like STARS tokens, but they may not be official. To receive the official address and link to any Uniswap pools or contracts ONLY follow links shared directly by official Mogul accounts. The best place for information is the Mogul Twitter account.
As a user, when you provide liquidity to Uniswap, you will receive an ERC20 token that represents your claim on the Uniswap-specific pool. You will need to check the Etherscan transaction after providing to the pool and add the new token to your Metamask. The Metamask UI will show it as a “UNI-V2” token
To participate in the STARS_ETH pool, now that you have the STARS_ETH token, follow the same steps as above:
- Connect your Metamask wallet (required for staking)
- Approve the pool (gas required)
- Stake your STARS_ETH tokens
After following these three steps you’ll be able to see the total rewards you have earned each time you revisit the platform. You can “Claim” rewards any time to either save your STARS or stake them into another pool to earn more, or you can withdraw your stake at any time.
About Mogul Productions (Mogul)
Mogul Productions is a decentralized film financing (DeFiFi) platform that connects creators, movie fans, and film financiers in one space to ensure the best films get made by giving everyone a voice. By leveraging blockchain technology, NFTs and a tokenized system, Mogul incentivizes participation and rewards engagement. Using the Mogul in-app payment and utility token (STARS), users can vote on, greenlight and participate in key decision-making aspects of production.
Website: https://www.mogulproductions.com/
Twitter: https://twitter.com/we_are_mogul
