Protocol Architecture Overview
One Click Crypto protocol architecture will take advantage of both DeFi 1.0 and DeFi 2.0 features. Users are able to construct their own yield portfolios with optimized UX and fee structure, while having a lot of flexibility to coordinate between different pools on various chains.
One of the revenue sources comes from TVL allocation to multiple DeFi 1.0 protocols, including Aave, Compound, Uniswap, etc.
Determining the distribution and allocation of original DeFi protocols is the responsibility of 1CC DAO. Additionally, 1CC DAO has the authority to programmatically determine the inclusion of new protocols and exclusion of existing ones.
1CC ecosystem is powered by the pf1CC_n portfolio tokens and 1CCindex tokens. Every pf1CC_n token is backed by a portfolio of native coins allocated into DeFi protocols. Native coins may be programmatically converted to stablecoins to mitigate against crypto market volatility. When native coins and/or respective stablecoins are allocated into DeFi protocols, a respective basket of LP tokens will be backing a particular pf1CC_n.
With multi-chain deployment, pf1CC_n token on every blockchain network will be backed by its respective native coin and/or respective stablecoin(s) and, consequently, by LP tokens. Thus, pf1CC_n token will obtain additional diversification benefits for its holders.
1CCindex token on every chain is backed by wrapped pf1CC_n tokens. 1CCindex on every chain is uniquely defined by local pf1CC_n tokens. However, 1CCindex on Chain A is convertible to 1CCindex on Chain B via a cross-chain bridge.
pf1CC_n is an EIP-20 compatible token. pf1CC_n has the functionality to mint, burn, and burnFrom. pf1CC_n is either a rebasing token or a token with a limited supply.
1CCindex is an EIP-20 compatible token. The non-rebasing wrapper is used to package up pf1CC_n in a non-rebasing container. 1CCindex is a governance token. 1CCindex token also serves as a cross-chain bridging token.
x1CC token is an EIP-20 compatible token. x1CC token can be swapped for 1CCindex according to programmatically set conversion rules.
Staking is the primary value accrual strategy of 1CC protocol. Stakers stake their native coins (e.g. ETH, MATIC) to earn yield rewards. The yield reward on pf1CC_n is a function of average yield generated by DeFi protocols of Porftolio_n.
Staking is the process of locking native coins in anticipation of earning pf1CC_n yield generation rewards. Locked native coins are exchanged for an equivalent number of newly minted pf1CC_n tokens. In case pf1CC_n being a rebase token, its total balance automatically rebases at the end of every epoch.
Unstaking of pf1CC_n is the process of burning pf1CC_n tokens in exchange for an equal number of the native coin. Unstaking means that the user is forfeiting upcoming yield generation rewards. The forfeited reward is only applicable to the unstaked pf1CC_n tokens; the remaining staked pf1CC_n tokens will keep earning yield-generation rewards.
- Every portfolio is a smart contract that represents a specific allocation of DeFi protocols
- Native coin is used for users deposits to minimize numbers of “clicks” to be required from the user (e.g. ETH, MATIC, etc.)
- pf1CC_n tokens get minted proportional to deposits.
- pf1CC_n tokens get burned proportional to deposit redemption.