Community Update #10 - Backlog Update
Some Quick Updates + Interface Preview
As mentioned in the last update, the Habitat Rollup will start in June. The exact launch date is still to be confirmed. A official announcement for the date will be communicated on all channels and as early as possible, so everyone is ready once deposits are open. 🎉
Rollup Upgrades 🌯
Once live, Habitat’s mission is to ensure stability and uptime of the rollup. Following the release, more features and modules will be integrated by performing Rollup Upgrades.
These essential updates require new deployments and therefore gas and code. In the beginning the genesis team will lead those upgrades and take over the costs.
With further decentralisation of Habitat, other community members will need to propose and lead those missions autonomously.
Audit & Bug Bounties 🐞
Thanks to a great network and good friends, we have trained eyes on the code before we ship. Still, Habitat reached out to software audit firms to take a closer look on the rollup tech.
Most of the firms assured that a full audit of the Habitat Infrastructure can only be done by earliest end of 2021. Funds to pay the audit will be collected until then.
You like to break things? Habitat plans to issue reasonable bug bounties to reward the uncovering and reporting of potential vulnerabilities of the rollup.
Staking Considerations 🧘🏻
Upon entering the Habitat Rollup, users deposit their HBT and convert them to xHBT.
This is the staked version of HBT, used for Habitat Governance and to pay for transaction fees on the rollup. More details on Gas-Tank in Update #08.
All rollup fee’s are collected in a shared pool and will be used to finalise the epoch and submit all data to the mainnet. The Operator will need funds to finalise the transaction badges.
Until the rollup reaches it’s economic target and can run self-sustained (paying for it’s own finalisations), the DAO can support the process by using community funds and subsidize.
Every epoch will be 7 days long -
Staking rewards are claimable after each epoch.
Stakers are rewarded by keeping their HBT on the rollup.
The calculation starts upon mainnet release and uses the following logic and parameters to reward users which deposit their HBT on the Habitat Rollup:
uint256 reward = poolBalance/(historicTVL/historicTotalUserBalance)
historicTotalUserBalance= user balance during epoch on the rollup
historicTVL= all HBT tokens deposited on the rollup excl. treasuries
poolBalance= fees from gas tank paid into pool during epoch
The initial v1 logic also features a multiplier for time-based lock-up commitments.
The multiplier can be activated as a governance result via on-chain governance. 💡
Specific design details on this and other mechanisms will follow upon June release.
Sharing Work in Progress: Habitat Interface 🖼️
Habitat is close to finishing the interface designs for the platform. The displayed UI-example features a potential design for the initial user dashboard, but final styling may change again and again. Most of the user-flow is defined, so the final design will be coded within the next weeks, and rolled out in parts as soon as they are finished.
Some Reminders 💡
Community Funds are unlocked from 09th June 2021.
HBT-ETH LP’s will receive a retrospective reward for providing genesis liquidity.
All unlocked funds will be located on the rollup.
Future Mainnet Liquidity Incentives up for decision soon.
Follow the Habitat Discord to miss no update as we roll into the release preparations.