fee-distributor

Fee Distribution

The Fee Distributor Contract contains logic for distributing GLOW among veGLOW holders.

The Fee Distributor Contract keeps a balance of GLOW tokens, which it uses to reward stakers with funds it receives from trading fees sent by the Glow Collector. This balance is separate from the Community Pool, which is held by the Community contract (owned by the Gov contract).

The fee distributor contract supports Claim, DistributeGlow, and Sweep functions.

• DistributeGlow distributes Glow among veGLOW holders.
• Claim lets a user collect the fees that have been collected for them.
• Sweep converts Terra native tokens held by the contract to GLOW

Main Execute Messages

DistributeGlow

Distribute glow can be called to distribute all available glow in the gov contract to veGlow holders. Available glow means the Glow balance of the gov contract minus the amount reserved for polls and reserved for past glow distributions.

Glow distribution works by making use of the WEEKLY_TOKEN_DISTRIBUTION map.

Token distribution takes place in weekly intervals. Upon calling DistributeGlow, the corresponding Glow gets added to the WEEKLY_TOKEN_DISTRIBUTION with the timestamp of env.block.time.seconds() / SECONDS_PER_WEEK * SECONDS_PER_WEEK (the current timestamp rounded down to the nearest week).

When calling distribute_glow, the corresponding amount is added to total_distributed_unclaimed_fees.

Claim

The claim function works by taking a range from last_claimed_fee_timestamp + SECONDS_PER_WEEK to end.block.time.seconds() / SECONDS_PER_WEEK * SECONDS_PER_WEEK - SECONDS_PER_WEEK over the WEEKLY_TOKEN_DISTRIBUTION map.

For each distribution, increment claim_amount by the distributed_amount for that week times the ratio of user_voting_balance / total_voting_balance. user_voting_balance and total_voting_balance are the corresponding veGLOW balances at the time of the start of the corresponding weekly distribution.

Upon claming:

• the last_claimed_fee_timestamp for the corresponding user will be set to the timestamp of the last distribution that was claimed in order to prevent users from double claiming the same distribution.
• state will get updated to reduce total_distributed_pending_claiming by claim_amount
• claim_amount of Glow will get sent to the claimer.

Sweep

The Sweep function was added to the fee distributor contract, but it doesn't perform the glow distribution. In order to sweep and distribute the corresponding glow to stakers, you must call Sweep and then call DistributeGlow afterwards.

Main Queries Messages

Staker

A Staker query is exposed for getting information about how much is available for a user to claim. It returns the claimable amount, information for pagination, and the total voting power at the time of the query.

State

A State query is exposed for getting the total_distributed_unclaimed_fees.