LCLO Token
Last updated
Last updated
Callisto Network blockchain has a unique feature for POW chains - “Cold Staking”(CS).
Where users can lock CLO coins for 1-12 rounds(27 days/round) and get a revenue that is funded from each mined block. This feature is very popular and more than 40% of total CLO supply is locked in CS smart contracts.
We want to allow this locked CLO coins to be collateral for borrowing other tokens on ColdFi tech platform. Users can put CLO coins to Cold Staking(CS) using special LCLO factory contract and receive LCLO tokens, which can be used in ColdFi lending pools as collateral.
ColdFi will implement a “wrapper” contract(LCLO Factory) between user and CS smart contract.
User receives same amount of ERC223 LCLO tokens as CLO locked in CS smart contact and “Staked role” NFT token
“Staked Role” owner can get CS round reward using “LCLO Factory”
“Staked Role” owner can exchange LCLO->CLO without any fees once staking rounds ended
Any user can exchange LCLO->CLO in “LCLO Factory” with some fees
LCLO token can be used as collateral in ColdFi pool.
