About Technology

Security and Access

  • Key components of the toolkit fall under the Rays Protocol's responsibility to ensure adherence to basic security principles.

  • Active developers, as described in the developer registration phase, have access to a web platform that includes necessary components for developing their apps.

Application Development and Deployment

  • Developers have the freedom to implement any logic within their Application.sol.

  • However, the deployment of the contract is managed by the Admin team, and further upgrades are executed via a special contract named TimeLockController.

Economic Protection Measures

  • The protocol introduces Application TVL limits to mitigate the risk of malicious developer behavior.

  • This limit ties the capacity (TVL) of an application to the developer's initial deposit.

  • Once the TVL limit is reached, the application can only reward existing users and cannot accept new deposits.

Available Tools for Developers

  1. TVL Limits

  2. Ratio Requirements

  3. Source Code of Custom Functions

  • These parameters are verified by the Admin team before an application is marked as active.

  • Once active, investors can deposit their Rays into the application to start earning rewards.

Developer Restrictions

  • Developers cannot unilaterally upgrade their application or withdraw tokens, thus safeguarding investor interests.

  • All smart contract upgrades are managed through the TimeLock, controlled by the Admin team.

Investor Interaction with the Protocol

  • Investors claim rewards through the ApplicationHub contract.

  • To mitigate malicious activities and ratio manipulations, there's a withdrawal delay.

  • After the delay, investors can redeem their pending requests.

Core Operations

  1. Application Query: The contract interacts with ApplicationHub to obtain a list of all existing applications. This is the first step in ensuring that the ratios meet the corresponding requirements in Application's config contract.

  2. Ratio Verification: For each application retrieved, the contract performs a thorough verification of its ratio. This step is vital for maintaining the integrity and accuracy of the application's data within the system.

  3. Open Access Verification: The contract allows any user to request and verify the ratio of a particular application. This feature promotes transparency and openness, allowing users to independently validate ratio information.

  4. Continuous Verification Process: The contract is designed to continuously verify and update ratio information, ensuring that the most current and accurate data is always available.

Overview of Roles

  1. Admin: Responsible for overseeing the protocol, managing deployments, and ensuring compliance.

  2. Investor: Engages with various applications, earning rewards, and contributing to the ecosystem.

  3. Developer: Creates and deploys DeFi applications, benefiting from the protocol's comprehensive toolkit.

Slasher

The contract is responsible for the applications' ratio operations, particularly holding the historical ratios for the last 7 days and providing functions to fetch the ratio for a specific application.

Furthermore, a crucial function of the contract is managing participants' behavior, including investors and developers. There are functions available to verify the correctness of a ratio. Anyone can ask the contract to check if a particular application is working properly within its rules.

  • Historical Ratio Tracking: The contract diligently maintains a history of the ratios for the last 7 days. This feature ensures that there is a reliable and accessible record of ratio fluctuations over a significant period.

  • Ratio Retrieval Functionality: It provides specialized functions to fetch the ratio for any specific application. This ensures transparency and ease of access for users needing precise ratio information.

Quorum

The Quorum contract's role in enforcing compliance and rewarding vigilance against malicious activities significantly contributes to the stability and trustworthiness of the RaysX protocol. It ensures that the tokenomic relationships between the different roles are aligned with the protocol's overarching objectives of security and fairness.

Detection of Malicious Behavior

The contract is programmed to detect any instances of malicious behavior, which primarily includes violations of ratio and TVL (Total Value Locked) requirements.

This detection mechanism is crucial in preserving the security and reliability of the protocol.

Token Utility:

  • Medium of Exchange: RAX tokens act as the primary currency for transactions on the platform, facilitating fee payments, purchasing services, and participating in various dApps within the ecosystem.

  • Governance: Token holders have governance rights, which allow them to vote on protocol updates and changes, effectively giving them a say in the direction of the ecosystem's development.

  • Staking: Users can stake RAX tokens to participate in securing the network and earn staking rewards, contributing to the overall liquidity and health of the platform.

Incentive System for Stakeholders:

  • Developers: Developers earn RAX tokens as rewards for creating and maintaining applications on the RaysX Protocol. This incentive not only rewards their contribution but also encourages the continuous improvement of the platform.

  • Investors: By investing in different applications, investors can earn yield returns in the form of RAX tokens, adding an extra layer of potential profit to their investment strategies.

  • Validators: Participants who help secure the network by validating transactions are compensated with RAX tokens, ensuring the integrity and efficiency of transaction processing.

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