How OLIVINE works
Olivine is the green mineral of the mantle. A hotspot under the plates breaks the surface wherever the plate happens to be; move the plate and the same heat builds a new island elsewhere. OLIVINE treats yield the same way.
The setup
- One vault, eight pools of NEAR ecosystem tokens. Deposit into the pool you believe in. No lock, no cooldown, withdraw whenever you want.
- At any moment exactly one pool is the host.
- Your tokens are staked, not paired: no impermanent loss, only the price exposure of the token you deposit.
The epoch
- The host streams 80% of the epoch emission to its stakers, the previous host 20% (a one epoch tail). The other pools receive nothing.
- Rewards stream by the second over the epoch: entering late only earns the time you are there.
- At the close, the best score among the pools in the race becomes the next host. Ties go to the smaller pool. If no score is positive, the emission still moves, to the smallest pool in the race. It never stays put.
- Closing is permissionless: once the timer hits zero anyone can call it.
The score
- Net inflow of the epoch: deposits minus withdrawals, valued in NEAR at the Rhea DCL price read on chain when the epoch closes.
- Plus pushes: OLIVINE burned on the pool, valued at the OLIVINE/NEAR pool price, capped at 30% of the score. With no positive inflow a push counts for nothing: real capital carries at least 70% of the decision.
- The app recomputes every score with live prices, the same maths as the contract, so anyone can see the predicted next host at any second.
Sterility and seniority
- A pool that just hosted cannot host again for three epochs. It keeps deposits and its 20% tail, but is out of the race. With eight pools, the hotspot visits at least four different pools every four epochs.
- Inside a pool, rewards are weighted by full epochs spent in the pool: 1x on entry, 2x after one full epoch, 3x after two or more.
- A deposit in the last minute of an epoch is still 1x during the next one. A squatter who entered three epochs before the pool hosts earns triple per token.
- Adding to a position adds a fresh 1x slice, the older slices keep their age. Withdrawing any amount resets what stays to 1x. Claiming never resets.
Token
- OLIVINE is live on NearlyTrade ↗. The vault is already live and never mints: the emission is funded into it after launch.
- Emission over 52 weeks, 25% lower each quarter (91 daily epochs per quarter).
- Every withdrawal pays 0.3% in the pool token to the protocol. Pushes are burned on the spot: the total supply shown on the mantle goes down with every push.
What stays out of reach
- Staked tokens: only their owner can withdraw them, and exits are never paused.
- Streamed rewards: once OLIVINE is streamed to a pool it belongs to its stakers. The owner can only take back emission not yet assigned to an epoch.
- Failed transfers are restored to your position, never lost.
Risks
- Scores use the Rhea DCL spot price at the close. Moving a pool price right before a close can distort one epoch; the 30% push cap and the need for real inflow limit it, they do not remove it.
- 80% of an epoch on one pool means a large depositor can capture most of a bloom. Seniority and the push cap reduce this.
- The pool list is managed by the owner (add a pool, close one to deposits). Everything else in the vault is fixed: shares, fee, cap, sterility, schedule.
- Your deposit carries the price risk of the token you deposit, nothing else.
Contracts (mainnet)
