The protocol
The Rebasefy protocol is a set of instructions on the Polygon blockchain that produces a decentralized financial infrastructure called Rebasefy. It consists of 3 ERC20 tokens with rebase functionality and another special manager managed by DAO
Tokens
By default of the protocol, the parity will always be 1 to 1 (1 token will always have the same value as a MATIC), that is, the values of Triangle, Circle, Square and MATIC will always be kept the same.
Rebase
The rebases will take place every 25 hours, in order not to privilege any member, thus allowing rotation in time zones.
In each new rebase ("cycle"), the balance of each address that contains the token (Triangle, Circle and Square) is added to the amount of the rebase reward and the leader's bonus. This occurs as follows:
The token that has the lowest supply ("totalsupply") will yield 1%; the second token with the lowest supply will yield 0.5% and the third 0.25% with each new rebase
The leader's bonus is defined by the leader of each token, which can be from 0% to 1% at each rebase.
The period between rebases is divided into 3 stages:
Normal stage: This stage is the period after the rebase and extends for 24 hours. In this period everyone can swap tokens for free; become a leader; the leaders will be able to change the bonus rates
Hard stage: It is the stage that starts 1 hour before the next rebase. In this period the swap of tokens has a fee of 0.5% and the leader is not allowed to make changes to the bonus rate, but it is still allowed to become a new leader
Lock stage: It starts 15 minutes before the next rebase, no swap operations are allowed within the system, except those involving MATIC as one of the pairs; the leader cannot change the bonus rate; it is not allowed to become a leader until the next rebase
Leader and bonus
All native tokens have a leader, which can change the bonus rate for the next rebase. To become the leader of one of the native tokens, it is necessary to stake an amount at least 5% higher than the currently staked amount.
When a leader is ousted by a new leader who made a bigger stake, he gets his stake amount back.
The maximum bonus for each token is 1%. The leaders of each token define the leader's bonus for the next rebase and the difference that was not attributed to the bonus remains as a reward for the current leader.