# Boardroom

## The Boardroom User Interface

![The Boardroom user interface](https://2518187734-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fqtm3KccbMmHgFgpSVS6K%2Fuploads%2Fgit-blob-55a41ce57936917459f15f4e37ad6bc33aa8627f%2Fboardroom.png?alt=media)

Let's take a look at each element of the Boardroom user interface and what it means.

1. **NEXT EPOCH**\
   The amount of time remaining until the next epoch.
2. **CURRENT EPOCH**\
   The number of the current epoch.
3. **DGN PEG (TWAP)**\
   The TWAP (time-weighted average price) of the DGN peg. The Boardroom only mints new DGN as rewards for DSHARE stakers when this value **is above 1.01** **at the end of the current epoch**.
4. **APR**\
   The yield for DSHARE stakers in the Boardroom **if the Boardroom was printing every epoch**. This calculation is based on **the last recorded print in the Boardroom**.
5. **DSHARES STAKED**\
   \*\*\*\*The total amount of DSHARE currently staked in the Boardroom.
6. **DGN Earned**\
   \*\*\*\*The amount of DGN you've earned as rewards for staking DSHARE in the Boardroom.
7. **DSHARE Staked**\
   The amount of DSHARE you currently have staked in the Boardroom.

### Boardroom Specifications

* Epoch duration: 6 hours
* Any interaction with the Boardroom (staking/unstaking DSHARE or withdrawing DGN rewards) will **lock your staked DSHARE for 6 epochs and DGN rewards for 3 epochs.**
* Distribution of DGN during expansion (Boardoom printing):

  **80%** goes to Boardroom DSHARE stakers as rewards

  **10%** goes to XDGN contract

  **10%** goes to dev fund

{% hint style="info" %}
Note that the Boardroom **does not** print any rewards for DSHARE stakers when the Boardroom TWAP < 1.01.
{% endhint %}

### **1. Once DBONDs are issued, does the Boardroom stop printing DGN until we are above peg again?**

Staking DSHARE will only give you DGN rewards when the price of DGN is above the peg (100 DGN to 1 BNB), but not when it is under the peg.

### **2. What happens if I interact with the Boardroom in any way? Are there any lockup periods?**

Yes, there are two lockup timers. One for DGN rewards and one for staked DSHARE. **Any interaction with the Boardroom will reset both timers.** The lockup period for withdrawing DGN rewards is **3 epochs (18 hours)**, or **6 epochs (36 hours)** to unstake your DSHARE.

### **3. Are the Boardroom rewards pro-rated by time? For example, if I stake three hours before the end of an epoch versus five hours before the end of an epoch, would I get different rewards?**

No, Boardroom rewards are determined by how much you have staked at the time of printing (i.e., at the end of one epoch and the start of the other). It doesn't matter if you stake three hours before or thirty seconds before the emissions occur.

### 4. If I remove my DSHARE from the Boardroom without first collecting my DGN, will they be lost forever?

No, they will still be there to collect whenever you need.

### 5. The Boardroom APR dropped because we're in a "debt phase." What does that mean?

A debt phase takes place during expansion epochs that start after a contraction period where there are still DBOND to be redeemed.

65% of expansion during a debt phase is allocated to the treasury fund to prepare for subsequent DBOND redemption down the road. This amount is always reserved, regardless of whether DBOND holders are redeeming bonds or not.

Once enough DGN is sufficiently stocked in the treasury to satisfy the redemption of all circulating DBOND, expansion rates will resume to normal.

### 6. If we're in a debt phase, how long will it last until the Boardroom continues printing as normal?

The debt phase will last as long as is necessary to adequately pay back outstanding DBOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonus premiums when people redeem DBOND over peg.\
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There's no exact way of calculating how many epochs it will take, since the protocol doesn't know exactly when people will redeem their DBOND. The debt phase cannot end until the treasury has enough DGN to cover the redemption of all outstanding DBONDs plus a premium.

### 7. At the end of the epoch, the Boardroom did not print DGN, but then no DBOND(s) were issued either. Why?

There is a balanced state "at peg" when DGN's TWAP is between 1.00 and 1.01, which results in no contraction or expansion of the circulating supply of DGN. This is referred to as a **zen epoch**.

### 8. If DGN continues to climb above the price of the peg, will that influence how long the debt phase lasts?

Depending on the price of DGN, the Boardroom print will have to adjust to provide a buffer for any unclaimed DBOND. As the price of DGN climbs above the peg, more DGN needs to be distributed to the treasury to account for DBOND redemption plus premiums.

### 9. How can I figure out what my future DGN rewards will be from the Boardroom?

Let's take a look at a simplified example for a *non-debt phase*: say you have 1 DSHARE staked out of 10 total DSHAREs staked in the Boardroom. In this case, you will receive 10% of the total DGN printed in the Boardroom.

For this example we are assuming that there is a total circulating supply of 10,000 DGN and the current expansion rate is at 4%, so a total of 400 DGN will be printed in the Boardroom. Under the protocol's current rules, 60% of those newly printed DGN will be distributed to DSHARE stakers in the Boardroom. (See the [DGN Distribution](https://dragonfinance.gitbook.io/dragon-finance/dragon-distribution) page for more details on how DGN is distributed within the protocol.)\
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Therefore, you would get: ((0.04 *\** 10000) *\** 0.6) \* (1/10) = **24 DGN**.\
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Thus, the formula to calculate your rewards is as follows:\
((*ExpansionRate* \* *CirculatingDRAGONSupply)* \* 0.6) \* (*YourBShareStake* / *TotalBShareStaked*)

### 10. How long will it take for DSHARE to pay itself off from DGN rewards based on current prices?

This will vary constantly as the APR in the Boardroom fluctuates, along with other variables such as the price of DGN.

For a quick estimation, however, you can do the following:

1. Take the total APR shown in the Boardroom and divide that by 365 to get the daily APR. (For this example we will say the daily APR is 5%.)

2. Multiply that daily APR by the current market price of the total DSHARE you have staked to see what your daily rewards are. (In this example, we have 5 DSHARE, each worth $500, for a total amount staked of $2500. Your daily return in this case would be $2500 \* 0.05, which comes out to $125 per day.)
3. Take your initial buy-in price for DSHARE and divide it by your daily rewards. If you bought these 5 DSHARE at a higher price, say $700 for example, in the current market conditions you would recover your initial investment of $3500 in 3500/125 or 28 days. -->