LinkBased — Why Valhalla Works & LBD Guide: How To Enter Valhalla

6 min readDec 23, 2020

Why VALHALLA is the solution:

We use the 3% tax fee model to incentivize liquidity, rewarding liquidity providers.
By using the 3% tax fee to reward liquidity providers, it directly prevents us from adding more tokens to the circulation.

Why the tax system works:

The ecosystem reserve has 56% of our current supply. This reserve is only meant to be used if the network activity dries up.
By NOT using the ecosystem reserve because of the current activity level, the token will not suffer the consequence of inflation. As a result, the price organically pumps, and the price floor rises. The Valhalla system ensures that when any transaction happens in the network- or any interactions with the LBD contract (ERC-20) — 3 % of it is distributed and rewarded to the liquidity poolers. LinkBased incentivizes participants to be an active participant in the ecosystem by being a liquidity provider. Everything the tax system collects goes to the liquidity pools.
Right now, 60k LBD tokens are already gathered from yesterday's activity to be distributed to LIQUIDITY PROVIDERS from our Valhalla protocol. This number will increase with every single transaction that is sent in our network.

Double The Pumpanomics

In addition to the potential growth because of Valhalla, the tax system, and deflationary tokenomics, LinkBased has the potential price growth that rebases offer.

Three hypothetical examples of potential growth. This example takes these three conditions into consideration: The current target price due to Chainlink’s (FDV)*0.1^10 being 1.25$, buy price 1.15$, in addition to the TWAP staying at 4$.

If the price is 4$ — before the first rebase the holder will be up ~ 3.5x

If the price is 4$ — after one rebase the holder will be up ~ 11x

If the price is 4$ — after two rebases the holder will be up ~ 26x

The LinkBased Rebase

LinkBased’s rebase uses Chainlink’s LINK/USD price oracle to calculate the (FDV)*0.1¹⁰ pegged price. However, the price of LBD at rebase time(11 AM ET), is important to find the target price of LBD, since Chainlink does not have an LBD price oracle. The oracle for LBD uses TWAP: Time weight-averaged price, which is the daily price average. By using TWAP LinkBased tries to incentivize holders and liquidity providers, while punishing swing-traders.

The ecosystem reserve

The ecosystem reserve will only be touched after an official consensus from the ecosystem participants. We will deploy a return if the network activity dries up, and at that point in time, if the vote returns true, we utilize the ecosystem reserve for igniting Valhalla once again.

In other words…

Our network is designed in a way that incentivizes the cause of store of value, so over time network tax might go down. At that point in time, the ecosystem reserve will basically act as the oxygen for the brewing fire, reigniting the activity in the network.

The Parameters of Valhalla

Distribution of the rewards will be distributed to the people that locked liquidity in the geyser.

Every week the reward pool will be updated with the taxes collected, and those rewards will be distributed/available for the liquidity providers the next week.
During a protocol epoch — when someone supplies their LP token in the geyser contract for the respective pair, they get 5% of the deemed rewards immediately when they withdraw.
The subsequently deemed rewards during the time of deposit, for that particular user, gets linearly unlocked over 60 days.
ALL of the taxes collected by the system will be provided to the Liquidity Providers.
When someone submits lp to the pool smart contracts calculates a percentage of the rewards from the reward-chest and sends it to the locked pool. If the person unlocks from the pool he’ll get 5% of the rewards. If he stays over 60 days his rewards get unlocked linearly.
3% tax for each transaction.

HOW TO BUY, PROVIDE LIQUIDITY, AND ENTER VALHALLA:

To reap the benefits of LBD, participating as a liquidity provider is beneficial for you and the network. You’ll be able to gain rewards from Valhalla. Below is a guide on how to 1. Buy LBD, 2. How to provide Liquidity, and thus receiving LBD-ETH pair as UNI-V2 tokens. 3. Using UNI-V2 tokens to Valhalla.

If you know how to buy and provide liquidity on Uniswap, go ahead and skip to “3. Using UNI-V2 tokens to Valhalla.”

Reminder: You need to use 3.5% slippage when performing these steps.

1. Buy LBD:

Step 1: How to buy LBD

Go to Uniswap by pressing “trade” on the correct dextools link

Dextools:https://www.dextools.io/app/uniswap/pair-explorer/0x37e8e9fa75c78d55ab3a3849879ffaed0fb3a2b2

Contract address: 0xb15ae165000c8d7b69d2a82e425e110668c73ad5

You can also copy the contract address of LinkBased(LBD) directly on uniswap. Contract address: 0xb15ae165000c8d7b69d2a82e425e110668c73ad5

Step 2: Slippage Tolerance and “Swap”.

Enter the amount you want to buy. Press “Swap”. Remember that the “Slippage Tolerance” needs to be set as 3.5% due to the tax incentive from Valhalla. You can press on the % to change it accordingly.

Step 3: Swap, confirm, and gas fees.

After pressing “Swap” and “Confirm”, you’ll have to set the appropriate gas fees, and press “Confirm” on the Metamask notification.

2. How to provide liquidity:

Step 1: Go to Uniswap LBD-ETH Pair https://info.uniswap.org/pair/0x37e8E9fa75c78D55Ab3A3849879FfAEd0FB3A2B2

Click on “+ Add liquidity”, on the top right of the site.

Step 2: “Approve” and “Supply”

Input your contribution amount to the Uniswap LP. First click on approve LBD, to approve the transaction of your selected token (LBD) between Metamask and Uniswap. Then press “Supply”.

Step 3: “Supply” and “Confirm”

After you have pressed “Supply”, set the amount of the selected tokens you wish to contribute to the Uniswap LBD-ETH LP, in this case, 9.7 LBD is being pegged to 0.0600564 ETH based on current price, and click ‘’supply’’ to proceed.

Check the data and click ‘’confirm supply’’ to confirm the contribution to the LP.

Set the transaction fee and confirm the transaction.

After the transaction is completed, you will get a confirmation of your funds being sent/received. Well done! You have successfully contributed liquidity to the LBD-ETH Uniswap LP. In exchange for liquidity, you will receive UNI-V2 tokens that reflect the liquidity you contributed. You should be able to search the Etherscan contract addresses for these UNI-V2 tokens. Each liquidity pool pair produces its own UNI-V2 token. By doing all this, you have received the LBD-ETH pair and can successfully participate in Valhalla.

3. Connecting to Valhalla: Using LP(UNI-V2 tokens)

Step 1: Go to https://www.linkbased.org/ Press “Valhalla”.

Step 2: CONNECT your wallet

Step 3: Press “Use Max”

Step 4: Press “Deposit” and “Approve” to enter Valhalla with your UNI-V2(LBD-ETH pair) tokens.

Step 5: Press “Confirm” on the Metamask notification. If you want, you can edit the transaction fee.

Look at the transaction on metamask/etherscan. If it is successful, then congratulations! With all these steps, you have successfully entered the gates of Valhalla! Rewards await the patient and loyal.