The $DKA token is a Binance Smart Chain (BEP20) token that enables interacting with the DEKA protocol.
The DEKA token does not have a fixed supply. $DKA is minted on every stake, and it's burned on every unstake (only if the staking period has not been elapsed). The process of minting can only be achieved using the DEKA protocol.
The token's inflation rate is correlated to the usage of DEKA protocol, the DPY (Deka Percentage Yield), and the matching ratio.
The token follows the BEP20 standard with few extensions:
- Transfer with authorization, which enables gasless transactions (ERC-3009).
- An exposed
burn()functions which can be invoked only by the DEKA protocol.
DEKA stakes are a way to stake your $DKA for certain amount of time and get upfront yield instantly.
For end-users, staking is intuitive: a user picks an amount and staking time and the protocol calculates how much yield they’ll receive. The user can also pick the destination of the yield - this can be any valid BEP20 address.
At the most basic level all stakes in the DEKA Protocol happen with a single function, named
- amountIn: This is the $DKA amount that the user is going to stake.
- expiry: The time after which the stake will expire.
- receiver: The address of the yield destination - externally owned accounts or a contract.
- data: Arbitrary data passed to the receiving contract - it’s up to the dApp what kind of data is passed.
Whenever a user stake he can choose the destination of the yield. The yield destination, can be either externally owned account (EOA) or a smart contract. If the yield destination is an EOA, then the yield is simply transferred to this address.
However, if the yield destination is a contract, then a specific contract interface is invoked. This functionality allows anyone to build their own dApp with their own deka receiver on top of the DEKA protocol.
If the receiver is a contract, the following interface should be exposed by that contract.
- id: This is the stake id. With the stake id you can fetch the stake data from the protocol.
- amountIn: This is the $DKA amount that the user has staked.
- expireAfter: The time after which the stake will expire.
- mintedAmount: The amount of minted $DKA - this is basically the yield being redirected to the DEKA receiver.
- staker: The address of the user.
- data: Arbitrary data passed from the protocol - it’s up to the dApp what kind of data is passed.