SaucerSwap WHBAR Migration

SaucerSwap WHBAR Migration Announcement! HBAR staking, which requires a certain percentage of swap fees and some user action to continue earning farming emissions, is in the SaucerSwap protocol. HBAR local staking rewards, which opened the SAUCE staking gate planned for November 2022, are live on the Hedera network. 

Unilateral Staking Summary 

To enter unilateral staking on SaucerSwap, it is explained how to stake in the Infinity Pool in exchange for SAUCE’s xSAUCE receipt token. Since only a single asset is involved, there is no permanent risk with this type of liquidity provision. 

The SAUCE/xSAUCE ratio increases due to SAUCE buyback from three different sources. Here, users can use their xSAUCE at a higher exchange rate than when they invested for SAUCE. In this framework, the mechanism works similarly to Stader liquid staking. 

Explanation of WHBAR and Local Staking

Since HBAR is not an HTS, wrap is required to interact with SauceSwap contracts. This is achieved with the incoming HBAR and mint wrapped. WHBAR tokens are used on SAUCERSWAP’s decentralized exchange. When the liquidity is withdrawn, the WHAR tokens are sent back to the smart contract and burned. After that equal amount of HBAR is sent back to the user. 

With the introduction of this local staking, the HBAR in the contract can be dynamically allocated to an authorized node for the purpose of generating returns. Since Hedera does not bring slashing or lock-ups, SaucerSwap users can withdraw liquidity instantly. The current amount of HBAR invested in SAUCERSWAP’s WHBAR contract is over 130 Gℏ (US$7.8 million @ US$0.06 per HBAR), which can generate significant returns for both xSAUCE holders and the DAO Treasury.

The WHBAR contract described in the local staking feature above will not have an administrator key and will be completely decentralized. Once a day, at any time, the allocation of HBAR local staking rewards  is taken from an intermediary payout splitter contract. This HBAR is exchanged for SAUCE in the BrewSaucer contract before being sent to the Infinity pool. Since the ratio of SOS to XSAUCE in the pool increases, the relative value of XSAUCE also increases.

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