Sigmoid(Sigma Protocol) is a model of a competitive decentralized monetary system. In this model, the supply of the currency (SASH) is regulated by an algorithm, in consideration of the market demand, velocity, price, and exchange rate. Our model is built upon a set of economic rules, which will allow our system to always recover genuinely from recession.
SASH is bond based. The only way to mint SASH, is to deposit a stable coin into a bank contract. By doing so the investor will receive SASH bond. On the redemption date, bondholders will receive their SASH reward and their principal.
We propose a new ERC(BEP) Bonds standard. Which allows all kinds of bonds to be created and traded on a secondary market. Every single bond has their own interest rate, redemption date and conditions of redemption. Bonds are printed by depositing tokens into bank contracts. Bonds can be redeemed; the bondholder will receive their principal and interest. The interest is in the form of a token (settlement token) which is associated with the bond. The redemption date is calculated from the velocity and the market demand of the settlement token. Bonds can only be traded on Sigma bond exchange.
ERC(BEP)659 standard and Sigma bonds exchange bring innovation to the block-chain community and open a whole new market for investors and speculators alike. In this market of limitless potential, SIGMA protocol is the first standard maker.
We will launch our Ethereum and BSC Improvement Proposals for ERC(BEP)-659 Multiple Callable Bonds Standard. During this time, users can participate in Airdrop ＆ Whitlisting.
0.5 Contract Deployment
Before the construction of the Sigmoid network. Sigma protocol will be deployed on Binance Smart Chain network and Ethereum network. Sigmoid governance (SGM) can enable the creation of ERC(BEP)-659 bonds for every single token existe on the networks.
0.8 Minting of SASH
The minting of SASH will be enabled during this phase. Users can stake USD based stable coins as a pledge for the minting of SASH. Those SASH will be locked til the start of Phase-1. Users can also swap their based stable coins to SASH, from LP.
0.9 Formation of Sigma DAO
Sigmoid governance is based on POS. SGM as the governance token of sigma protocol will be minted during this stage. Previously locked SASH will be put into circulation. By staking SASH, users can start to mint SGM. When the circulating supply of SGM reaches a certain height. Sigmoid gouvernance will be formed. Every contract change or upgrade will need to pass a community vote.
1.0 implementation of ERC(BEP)659 standard and creation of Sigmoid bonds DEX
ERC(BEP)-659 standard will allow the creation of bonds for every existing token on BSC and ETH network. When more and more projects start to issue their ERC(BEP)-659 bonds, Sigma protocol will launch Sigmoid bonds DEX. This will be the only place to exchange ERC(BEP)-659 bonds.
1.2 Sigmoid Bridge Factory
Until then, bonds economy of Sigma protocol operate separately on BSC and ETH networks. Sigmoid Bridge factory allows any tokens to create their pledged brigade contract. Cross chain transactions with the help of 3nd party orcal will allow ERC(BEP)-659 bonds to circulate on both the networks.
1.5 POA of Sigmoid Network
During Phase-1.5 The construction of a Sigmoid network will be put on the table. Potential validators will also be able to set their Session keys in preparation for Proof of Authority, Web3 Foundation will launch Sigmoid in Proof of Authority mode. This will allow the network to test his stability.
1.8 POA to POS
The transition to Proof of Stake will start with nominated methode. The network will run by designated validators. During this phase, centralized POA set will gradually change to POS set. Web3 Foundation can use Sudo to verify the number of validators during this phase. When the validators reach a certain level, the final migration proposal will be on schedule.
2.0 Migration to Sigmoid Network
After Web3 Foundation is sure that the Sigmoid Network is working well, and POS validators reach a certain number, migration will take place. During this phase, both the BSC and ETH contracts will be locked by Sigmoid gouvernance contract. All datas will be transferred to Sigmoid Network, with the help of Merkle proof. After the migration, both BSC and ETH sigma protocol contracts will be upgraded to communicate directly with Sigmoid Network. This will allow all three networks to synchronise their data.
- *This draft may be modified in our later update.
ERC(BEP)-659 Multiple Callable Bonds Standard
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Brief introduction of Sigma Protocol:
The Future of algorithmic stablecoins: