DINA project: a new exploration of the universal dividend model

A code analysis of four new features in the DINA project: floating rates, Fomo bonus pools, manual destruction and smash prevention.

The popular safemoon project has created a wave of coin speculation in the cryptocurrency circle, and many imitation boards have emerged. We have also analyzed its source code, which can be found in our previous articles. In this issue, we will take you through its upgraded version – DINA.

DINA project: a new exploration of the universal dividend model

Figure 1: DINA project icon

DINA’s original gradient fee burning based on the health of the liquidity pool, a collection of DeFi+MeMe+FOMO play, went live on June 5 at 13:14 (UTC) on the liquidity pool, opening at $0.000004$, current price (June 16) $0.000160045$, an increase of 4001%.

DINA’s mechanism is divided into 9 main sections: 1.

  1. purchase limits
  2. variable rates
  3. Static bonus
  4. automatic LP
  5. tax avoidance prevention
  6. Fomo bonus pool
  7. manual destruction
  8. prevention of bashing
  9. security mechanisms

Since DINA is an updated version of safemoon, we will only analyze the code for the new features: floating rates, Fomo bonus pool, manual destruction and anti-crash.

Floating rates

An innovative and stable balancing mechanism that determines the commission rate according to the health of the liquidity pool.

  • 30% rate when the liquidity pool ≤ 1 million USDT
  • 25% when greater than 1 million USDT ≤ 3 million USDT
  • 20% when the pool is larger than 3 million USD ≤ 5 million USD
  • 15% when greater than 5 million USDT ≤ 10 million USDT
  • 10% when the liquidity pool is > 10 million USDT

DINA mediates the fees charged for transactions (including destruction, dividends and adding liquidity) based on the balance of USDT in the pair. Looking at the code details, we see that it initializes the fee values for the different stages and then maps the corresponding stages by querying the USDT balance in the pair with the getHealthLevel function, as shown in Figure 2 and Figure 3.

DINA project: a new exploration of the universal dividend model

Figure 2: Initializing the array of rates corresponding to different stages

DINA project: a new exploration of the universal dividend model

Figure 3: Check the liquidity level

Fomo Bonus Pools

The functionality of the Fomo Bonus Pool enhances the playability of the DINA program. 1%-5% of any transfer is continuously added to the Fomo Bonus Pool contract account. If no tokens are purchased within 4 hours, 50% of the Fomo Bonus Pool is awarded to the last token purchaser.

An audit of the code shows that the contract creates a Fomo contract account, and since the account receives a portion of the fees for each transaction, whenever a transfer is made, the Fomo contract calls the transferNotify and swap functions to record the last purchaser’s address and convert the fees received to USDT, respectively. If the next transfer is called after 4 hours, a bonus USDT will be sent to the recipient of the previous transaction. The code is shown in Figure 4 and Figure 5.

DINA project: a new exploration of the universal dividend model

Figure 4: DINA contract calls to the Fomo bonus pool function

DINA project: a new exploration of the universal dividend model

Figure 5: Fomo contract related functions

Manual Destruction

To reduce the risk of hacking and to better utilize the USDT in the bonus pool, the contract function is manually called to trigger 50% of the USDT for repurchase and token destruction when the trigger conditions are met.

Looking at the code, this function is also in the Fomo contract and can only be called with the project address. The function first calls the swap function to convert the DINA tokens in the contract into USDT, and then converts half of the USDT under the contract into DINA tokens again and then credits the Black Hole contract, as shown in Figure 6.

The manual destruction operation indirectly increases the value of DINA tokens and enhances the playability of the Fomo bonus pool. As of June 9, the Fomo pool had 278,658 USDT, as shown in Figure 7.

DINA project: a new exploration of the universal dividend model

Figure 6: buyAndBurn function

DINA project: a new exploration of the universal dividend model

Figure 7: Fomo bonus pool amount in the official website

Preventing a crash

Community operators should not hold tokens, and selling them in bulk would defeat the original purpose of DINA’s decentralized design. Therefore, there is no team allocation, and 2% of any transaction is automatically transferred to the community operator.

This design is equivalent to an additional fee on top of the original one. Unlike other fees (Dividend, Fomo and Liquidity), the fee charged by the community operator does not vary depending on the USDT balance in the transaction pair, and is fixed at 2% of the transaction amount per transaction. The code is shown in Figure 8.

DINA project: a new exploration of the universal dividend model

Figure 8: Screenshot of the operator fee collection code

Throughout the DINA project itself, it is a continuation and expansion of the universal dividend play, making up for the lack of playability and constant fees of the previous safemoon version, and adding new features such as new floating rates and the Fomo mechanism. However, it is still inherited from the ERC20 token contract, which is an extension of the token game. I hope you will pay attention to the change of environment when you speculate in the coin circle.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/dina-project-a-new-exploration-of-the-universal-dividend-model/
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