Dividends
The Dividends contract is used to distribute daily passive payouts to the GRAIL holders.
Address: 0xa561f3A8e4C32b220B4C92e0e7ee5fFD2459B46B
Github: https://github.com/ExcaliburExchange/contracts/blob/main/farm/Dividends.sol
Sources
The contract can receive funds from user-defined trusted sources only, the main one being the FeeManager. The Excalibur team will of course be whitelisted, and later, partners might be added.
Also, the system is not limited to one kind of token but can distribute multiple tokens as dividends at the same time.
Rewards distribution
The distribution is based on a daily cycle logic. The owner can set a fixed percentage of at least 5% and define which tokens should be distributed. Then on the next cycle, those will be taken from the contract accumulated reserve, and set to currentDistributionAmount
.
The distribution of those amounts is made linearly over the duration of the cycle, and allocated on a second-basis to every GRAIL holder, proportionally to their share of the total supply.
To avoid having dividends stuck forever into contracts that contain GRAIL (for instance, the non-harvested Master rewards), it's possible for the owner to exclude addresses GRAIL balance from the rewards distribution, but only if they are a contract address.
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