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Token Emissions

Token emissions through MasterChef

Minting $WAVE

We utilize the WAVEMasterChef concept for minting and distribution of new WAVE tokens. The Masterchef contract is the owner of the WAVE token.
This means the WAVEMasterChef contract is the only one that has permission to mint new WAVE tokens. There is no way to transfer ownership of the WAVE token from the WAVEMasterChef.

Distribution

The remaining 60% of the total supply will be minted over 4 years following the Emissions Schedule. The emissions will be distributed as follows:
Allocation Category
% of Max Supply Allocated
Number of Tokens After 4 Years
LP Providers
60%
6,000,000.00
Treasury
9%
900,000.00

How does it work?

As mentioned before, Wavelength uses the WAVEMasterChef contract for the minting and distribution of new $WAVE tokens. Following the emissions schedule, WAVEMasterChef mints a set amount of $WAVE per Block. Users who join a farm receive a share of those emissions based on their share of the total liquidity in that farm.
Assume the following figures:
  • We mint 10 WAVE per block according to the emission schedule
  • We have 5 farms, all with a weight of 20. The weight of all farms combined is 100. This means each farm has 20% of the total rewards.
  • We enter with 100$ into farm A which pushes the total value locked in this farm to 1000$.
// First we need to get the amount of WAVE the farm we entered received
shareOfOurFarm = weightOfMyFarm / totalWeight // 20 / 100 = 0.2
waveForOurFarm = wavePerBlock * shareOfOurFarm // 10 * 0.2 = 2
// now we know, our farm gets 2 WAVE per block.
// next we need to know how much our share is of those WAVE
ourShare = ourInvestment / totalInvestments // 100 / 1000 = 0.1
// so we own 10% of the liquidity in this farm, this means
// we should get 10% of the WAVE ourRewardedWAVE = ourShare *
waveForOurFarm // 0.1 * 2 = 0.2
// so this means, we get 0.2 WAVE for each block we stay in the farm.
// after 1000 bloks, we can harvest 200 WAVE