Blockchain Developer Requirement #0002
Requirements:-
1. A smart contract that users can deposit Algorand into. In exchange, they are given another token XYZ.
2. The smart contract then acts as a Governor, deferring to the Algorand Foundation’s preferred vote choice. It holds the initial Algorand and the governance staking rewards in wallets controlled by the smart contract. At launch, the exchange rate of Algorand to token XYZ will be 1:1. However, over time, the value of token XYZ grows due to staking rewards.
3. The smart contract should track this growth based on governance APY. For example, if governance yields 10% in a 3 month period, the value of Algorand to token XYZ would become 1.025:1.
4. Individuals should be able to exchange token XYZ back to their Algorand holdings at any time. Therefore, the smart contract should create a separate holdings wallet for every user.
5. At the end of each voting period, the smart contract should also generate it’s own token XYZ to be held in an escrow wallet in the amount of .1% of issued token XYZ at the time.
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Text source: CCx News.com
