Stabinol is an Ethereum cashback token developed by the Stabilize team. The token takes advantage of market supply and demand to allocate rewards while also protecting liquidity providers from rapid sell offs after claims. As the demand of Ethereum continues to surge, Stabinol will aim to provide some relief when interacting within its ecosystem.
Progress so far:
After a successful launch, Stabinol continues to be used to process cashbacks from liquidity providers of Uniswap STOL / ETH. The current claimer allows users to redeem up to 100% of the value of their STOL in their staked LP tokens after 6 months unclaimed, saving small depositors from the gas fees of redeeming every 3 days.
The team has tested the Stabinol buyback treasury for when it will be used in the future for continued buybacks of STOL. The STOL bought is then sent to the claimer contract and will serve as rewards for LP providers for when STOL reaches its max supply.
Unclaimed STOL from the airdrop was also locked into the claimer contract for future LP rewards, thus reducing the circulating supply by about 14%.
When transaction fees begin on STOL, those fees will also go towards filling up the claimer contract for further deflationary mechanisms.
Changes to come:
Currently Stabinol is a general purpose cashback protocol that rewards users with STOL for changes in their ETH balance from the last time they claimed. As Stabinol progresses in the future, it will transition into a protocol that rewards ETH spends for STOL liquidity providers that interact with Stabinol affiliated exchanges and protocols.
Affiliated exchanges and protocols would share a percentage of profit generated from the traffic created by those who would use their products seeking gas fee reimbursement. This profit would go to the Stabinol treasury to buyback STOL.
For example, Alice wants to buy a token on an exchange but the gas fee for the swap is $400 at current gas prices. She instead goes to an identical Stabinol affiliated exchange that will send a receipt of the swap fee amount to an ETH spent oracle. The oracle stores the ETH spent for each user that interacts with an affiliated exchange. She can redeem up to 100% the cost of her swap fee by participating in the Stabinol protocol and providing STOL LP.
This model benefits the ecosystem in general as exchanges benefit from increased traffic, and users benefit from decreased overall gas costs.
The ETH spent oracle is already ready to use:
For those wishing to integrating ETH cashbacks into your protocols and exchanges, check out the Stabinol ETH spent oracle and contact the team for consideration. The integration process is as simple as adding one extra external function call to your contracts.
Visit the website, follow us on Twitter and join the community on Telegram and Discord to learn more about Stabinol.