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<html>
<!-- This release is made completely in HTML & CSS because is designed to be cheaper in therm of size. In the next release we'll make it based on react.js adding all of the fancy effects needed. -->
<head>
<meta charset="utf-8" />
<title>Ξthereans OS - Covenants</title>
<meta name="description" content="ΞthOS is an R&D operating system on top of ethereum - A general-purpose platform for anything and everything DeFi, offering a set of factory-contract financial instruments.">
<meta http-equiv="Content-Type" content="text/html; charset=utf-8" />
<meta http-equiv="X-UA-Compatible" content="IE=edge" />
<meta content="width=device-width, initial-scale=1" name="viewport" />
<link rel="stylesheet" href="style.css">
</head>
<body>
<section class="page">
<header>
<a class="mapbtn" href="index.html">Map</a>
<a href="organizations.html">Organizations</a>
<p>Covenants</p>
<a href="items.html">ITEMS</a>
<a href="equities.html">Equities</a>
<a href="nerv.html">NERV</a>
<a href="wimd.html">WIMD</a>
<a href="doc.html">Doc</a>
<a href="buidlerberg.html">Buidlerberg</a>
<a href="https://discord.gg/nHZ2bUd" target="_blank">Discord</a>
<a href="https://github.com/ethereansos" target="_blank">Github</a>
<a href="os.html">The OS</a>
</header>
<div class="fancyeffect">
<img src="img/background.png">
</div>
<section class="map map2">
<a class="m0" href="index.html">
<img src="img/0.png">
</a>
</section>
<section class="expl">
<article class="title">
<figure class="icon">
<img src="img/i7.png">
</figure>
<h3>Covenants</h3>
<br>
<p>Covenants is the ethOS platform for anything and everything DeFi. It offers a wide-ranging set of factory-standard general-purpose contracts. As people find new ways to use them, they won’t need to reinvent anything.</p>
<p>Equity Token: $UniFi</p>
<aside class="link">
<a href="https://covenants.eth.link" target="_blank">Dapp</a>
<a href="https://github.com/ethereansos" target="_blank">Github</a>
<a href="https://dapp.dfohub.com/?addr=0xeFAa6370A2ebdC47B12DBfB5a07F91A3182B5684">DFO</a>
<a href="https://docs.ethos.wiki/covenants/" target="_blank">Doc</a>
<a href="https://info.uniswap.org/pair/0x04840eaa3497e4c3934698ff88050ceb9893f78f" target="_blank">UniFi</a>
<a href="https://covenants.eth.link/#/farm/dapp/0x37Bc927d6aa94F1d3E4441CF7368e4C3df72241B" target="_blank">Farm UniFi</a>
</aside>
</article>
<figure class="island">
<img src="img/6.png">
</figure>
</section>
<section class="wp">
<article class="wpdesc">
<h2>Current Release</h2>
<div class="BannerExp">
<p>What follows is a significantly abridged version of the Covenants Grimoire. To read the full thing, head to <a target="_blank" href="https://covenants.eth.link/#/grimoire">https://covenants.eth.link/#/grimoire</a>. Covenants is a <a href="#Org">Decentralized Flexible Organization (DFO)</a>, $UniFi is its voting token (programmable equity).</p>
</div>
<h5>The Aggregator</h5>
<p>At the heart of every Covenant is the Aggregator. By liberating on-chain AMM aggregation, it allows any wallet, DAPP, DFO, DAO or customized smart contract to farm, conduct token inflation, multi-swap, arbitrage, craft liquidity, collateralize stablecoins and more across multiple AMMs at once.</p>
<p>It is the first ever truly on-chain AMM aggregator.</p>
<figure class="infop">
<img src="img/ig7.png">
</figure>
<p>The Orchestrator is the extendible knowledge base that keeps track of all the supported AMMs. It works as an upgradable plugin system; there can be multiple plugins for one AMM, but every one will have a different version number and the associated upgraded features and bug fixes.</p>
<figure class="infop">
<img src="img/ig6.png">
</figure>
<div class="linkBar">
<a href="https://github.com/ethereansos" target="_blank">AMM Aggregator Github</a>
<a href="https://covenants.eth.link/#/more" target="_blank">Supported AMMs</a>
</div>
<figure class="infopWMIDCARD">
<img src="img/WUSDx.png">
<div class="infopWMIDCARDGG">
<h5><b>$WUSD ~ Wrapped USD</b></h5>
<p>One stablecoin to pool them all, in all the pools of DeFi.</p>
<p>$WUSD is minted by collateralizing pairs of whitelisted stablecoins in the pools of whitelisted AMMs.</p>
<div class="linkBar">
<a href="https://item.eth.link/?interoperable=0xD15c7Fcda27a93b9d4cD3617E09416Ec3aaA5237" target="_blank">ITEMS Collection</a>
<a href="https://opensea.io/assets/0x5a6EdeeE783A17AFa9e40f6a03B6C93Fabc5AdC1/1195241872894617222008635817406839094575782056503" target="_blank">WUSD</a>
<a href="https://opensea.io/assets/0x5a6EdeeE783A17AFa9e40f6a03B6C93Fabc5AdC1/1195241872894617222008635817406839094575782056503" target="_blank">2xUSD</a>
<a href="https://opensea.io/assets/0x5a6EdeeE783A17AFa9e40f6a03B6C93Fabc5AdC1/1195241872894617222008635817406839094575782056503" target="_blank">5xUSD</a>
</div>
</div>
</figure>
<p>By decentralizing the distribution of its collateral, and capable of rebalancing it for stability, $WUSD is not vulnerable to any single point of failure. Governed by $UniFi holders via the Covenants DFO, it cannot be censored or manipulated by any issuer, state or other off-chain centralized entity. It is as unstoppable as Ethereum itself.</p>
<figure class="infop">
<img src="img/ig11.png">
</figure>
<p>It is also the first ever farmable stablecoin.</p>
<div class="linkBar">
<a href="https://covenants.eth.link/#/wusd/dapp" target="_blank">Mint/Burn WUSD</a>
<a href="https://docs.ethos.wiki/covenants/" target="_blank">WUSD Explainer</a>
<a href="https://covenants.eth.link/#/farm/dapp/0x0c0a8F2b7dACB9Efe8b805fd77D08363A74A208A" target="_blank">Farm WUSD</a>
</div>
<h5>Covenants Farming</h5>
<p>Ethereans love to farm. They do it all day and night—apes, penguins & wizards alike. But farms in DeFi are not always well-managed, and the hard-earned harvests of farmers are often at risk. Covenant farming contracts allow us to farm safely, on our own terms and across multiple AMMs at once. Anyone can create, host or stake positions in free and locked setups without having to trust anyone.</p>
<figure class="infop">
<img src="img/ig8.png">
</figure>
<div class="linkBar">
<a href="https://covenants.eth.link/#/farm/dapp/" target="_blank">Farm</a>
<a href="https://docs.ethos.wiki/covenants/" target="_blank">Farming Explainer</a>
</div>
<h5>Covenants Inflation</h5>
<p>Covenant inflation contracts allow Ethereans to fund their magical projects in a fair and secure way. Anyone can set one up to circulate any variety of tokens at fixed intervals via minting, swapping and transferring.</p>
<p>With Covenant inflation, you don’t have to worry about needing to solicit any kind of investor anymore. </p>
<figure class="infop">
<img src="img/ig12.png">
</figure>
<div class="linkBar">
<a href="https://covenants.eth.link/#/inflation/dapp" target="_blank">Inflation</a>
<a href="https://docs.ethos.wiki/covenants/" target="_blank">Inflation Explainer</a>
</div>
<h5>Covenants Index Tokens</h5>
<p>Covenant indexes are Items, which have the synthesized properties of erc20s, 721s and erc1155. They are thus interoperable with the entire Ethereum ecosystem. Using the Bazar dApp on the Covenants frontend, anyone can mint one by collateralizing any fixed set of Ethereum tokens, and anyone can burn one to unlock that collateral.</p>
<figure class="infop">
<img src="img/ig10.png">
</figure>
<div class="linkBar">
<a href="https://covenants.eth.link/#/bazaar/dapp" target="_blank">Indexes</a>
<a href="https://docs.ethos.wiki/covenants/" target="_blank">Indexes Explainer</a>
</div>
<h2>Next Release</h2>
<h5>Multi Swaps</h5>
<p>Using the Covenants UI or with a standalone smart contract, conduct cross-AMM multi-swaps (i.e, semi- batch swaps) of ERC20s in a single transaction.</p>
<h5>Cross-AMM Arbitrage</h5>
<p>Using the Covenants UI or with a standalone smart contract, conduct cross-AMM arbitrage.</p>
<h5>General Purpose Liquidity Crafting</h5>
<p>Covenant wizards have made a breakthrough in the science of liquidity, and Etherereans can now Craft it at the molecular level. A crack team of entrepreneurial penguins have already used this discovery to innovate Craftable Initial Liquidity Offerings (ILOs). Projects can use ILOs to provide initial liquidity for tokens with deep customization and security.</p>
<p>They will be publishing their latest findings soon. In the meantime, you can read their preliminary report in the beta Grimoire at unifihub.com</p>
<h5>Smart Indexes</h5>
<p>Smart Covenant index tokens feature special permissions that allow hosts to rebalance the weightings of their collateral using condition-triggered oracles and arbitrage choices.</p>
<h5>The Magician Instrumentality Project</h5>
<p>The M.I.P is a top secret project for the future of Ethereans. The NERV team is working hard behind the scenes to develop an enigma that will catalyze a paradigm shift in Decentralized Finance.</p>
<p>Don’t worry, though. There are no Third Impact risks this time.</p>
<div class="linkBar">
<a href="https://discord.gg/nHZ2bUd" target="_blank">R&D Channel</a>
<a href="https://twitter.com/ethereansos" target="_blank">Twitter</a>
</div>
<h2 id="Org">The Covenants Decentralized Flexible Organization (DFO)</h2>
<p>The Covenants platform is ruled via the Covenants DFO by holders of $UniFi, the programmable equity of the DFO. They have exclusive ownership of the protocol, and govern all of its assets and every line of its code.</p>
<p><b>Earnings</b></p>
<p>The DFO earns from a few fees. After DFOhub upgrades to v0.5, $UniFi holders will be able to govern these fees using the subDAO system.</p>
<p><b>Active fees</b></p>
<p>8% of $WUSD Credit Rebalancing</p>
<p><b>(Presently) inactive fees</b></p>
<p>0.005% to 0.05% for unstaking farming positions</p>
<p>0.005% to 0.05% for Inflation operation executions</p>
<p>More will be introduced in the future as more functionalities are rolled out.</p>
<div class="linkBar">
<a href="https://dapp.dfohub.com/?addr=0xeFAa6370A2ebdC47B12DBfB5a07F91A3182B5684" target="_blank">Covenants Organization</a>
<a href="https://info.uniswap.org/pair/0x04840eaa3497e4c3934698ff88050ceb9893f78f" target="_blank">UniFi Token</a>
<a href="https://covenants.eth.link/#/farm/dapp/0x37Bc927d6aa94F1d3E4441CF7368e4C3df72241B" target="_blank">Farm UniFi</a>
<a href="https://form.typeform.com/to/qvSoOxs4" target="_blank">Join NERV</a>
</div>
<p>The DFOhub, Items and Covenants DFOs will merge into the all-encompassing EthOS DFO, which will be governed by $OS, when DFOhub v0.5 releases. You can read about this <a target="_blank" href="os.html">Here</a></p>
</article>
</section>
</section>
</body>
</html>