SCS Staking Platform
GROWTH
Lancer:
<= 2 resources OR <=3 weeks effort OR <=$3000 USD
Growth:2 - 4 resources AND upto 4 months OR
upto $30000 USD
Enterprise:Everything else
(Development)
Project Description
The SCS Staking Platform enables users to stake tokens on the Solana blockchain while integrating a burn mechanism and a treasury allocation system. When users stake tokens, the contract burns a portion and transfers the remaining amount to the treasury wallet. Users earn daily rewards based on the current APY. The platform features a multi-level referral system, rewarding users for bringing in new participants. Referral levels determine the distribution of rewards at every deposit and withdrawal.
Scope Of Work
Oodles developed a token staking system on the Solana blockchain, incorporating minting, burning, and reward distribution mechanisms. Our team implemented an event listener service to track staking, transfers, and token distribution. We integrated cross-chain function calls to trigger smart contract operations and designed a vesting mechanism to manage token rewards. The project also included robust deployment and testing to ensure security, efficiency, and seamless user interactions.
Our Solution
- Created SPL Token Contract on Solana to enable staking and minting for reward withdrawals.
- Registered users on Solana while maintaining the referral chain.
- Allowed users to stake tokens, burning 90%, transferring 10% to the treasury, and distributing rewards as newly minted tokens based on referral levels.
- Enabled users to withdraw rewards based on deposits and referral earnings while ensuring fair distribution.
- Automated reward distribution to users' associated addresses.
- Generated referral codes while preserving the referral hierarchy.