Transforming to Skyhub

Since the launch of the mainnet of Order&Chaos in 2022, it has been working towards the goal of creating a decentralized, scalable, and highly capital-efficient algorithmic stablecoin, and as a continuation of the construction in the field of algorithmic stablecoins following the collapse of the UST and still in the field of algorithmic stablecoins, Order&Chaos has stood up to the test on various chains and has made considerable achievements, and has done a better job of fulfilling its historical mission.

In 2024, the Order&Chaos core team decided to follow the trend of history and strategically adjust the positioning and ecological position of Order&Chaos in the markets, and started planning and developing Order&Chaos 2.0.

Inspired by @BaselineMarkets and @YESMONEY420, the goal of Order&Chaos 2.0 is to build an innovative floor price boosting AMM protocol on Blast and develop lending functionality with 0 interest rates and no liquidation risk. The core team of Order&Chaos hopes that 2.0 will not only bring technical updates but will also embrace the changes of the crypto era, thus proposing a ‘comprehensive innovation’ plan touching upon several aspects:

New Brand: Transitioning from Order&Chaos 2.0 to Skyhub

In order to resonate better with the upgraded 2.0 protocol and establish a drastically changed image, the team recommends rebranding Order&Chaos 2.0 to Skyhub.

Skyhub represents the vision of developing a protocol with consistently rising prices while highlighting the important features of Skyhub's comprehensive technological innovations.

New Technological Architecture: Efficient, Low-Cost, Up-only

One of the major improvements of Skyhub compared to Order&Chaos 1.0 is the complete overhaul of its technology stack from the ground up. Incorporating cutting-edge technologies from Baseline and Nirvana, Skyhub replaces stablecoins as the primary currency market with WETH.

At the technical level, Skyhub boasts several key features including:

• Buy: Users purchase Target Tokens using Base Tokens (WETH, USDB), with the supply of Target Tokens automatically minted upon purchase. The market value of Target Tokens is supported by Floor Support Liquidity (FSL) and Market Support Liquidity (MSL) derived from Base Token purchases. As buying continues, the proportions of MSL and FSL change, triggering the Floor Rising mechanism under specific conditions, maintaining a constant Reserve (MSL+FSL) while some MSL flows into FSL, providing a new Floor Price that only increases.

• Sell: Users can directly sell Target Tokens on the AMM function of the protocol to acquire Base Tokens. Upon completion of the sale, Target Tokens are burned from the protocol (reducing supply), consuming both MSL and FSL. When MSL is depleted, the market value of all Target Tokens is supported by FSL, allowing sales at the Floor Price on the AMM function without hitting zero.

• Borrow: Supported by the low-price backed minimum market value of Target Tokens, users can borrow Base Tokens equivalent to the Floor Price using Target Tokens as collateral. As the Floor Price increases, users can borrow more Base Tokens without the need for additional interests, benefiting from zero interest rates and no liquidation risk.

• Repay: To settle debts and receive Target Tokens, users can repay the same amount of Base Tokens borrowed previously to the protocol, unlocking liquidity instantly with no additional fees or lock-in periods. As the floor price rises, previously locked collateral will partially unlock, enabling users to withdraw unlocked collateral without repaying Base Tokens.

  Considering the significant technical changes and different base currency markets in the upgraded Skyhub, the economic model will be thoroughly reformed. Notably:

1. IFLV (Initial Floor Price Vaule) Event to Launch Experimental Token NO

   The NO Token will be the first new experimental token to be launched by Skyhub and will be launched using the fairest IFLV model to protect participants from sniper bots! The IFLV event is an opportunity for qualified community members to participate in setting the Initial Floor Price (IFLV), and all addresses that have traded ONC and YES tokens are qualified community members, snapshots have been taken. Details of the IFLV will be announced soon

2. Order&Chaos 1.0

   Due to the immutable and unscalable nature of Order&Chaos 1.0's contracts, Order&Chaos 1.0 will continue to run on their respective blockchains and all front-end pages will remain. ONC's treasury also has sufficient funds to ensure that each holder receives a fair value exit.