Liquidity Transformer Epoch

The launch of the WISE contract will kick off an initial 50 day phase during which users may send ETH (or any ERC-20 token traded on Uniswap V2) to the contract in order to reserve WISE tokens. The tokens reserved can be minted by the users immediately following the end of the LT Epoch, i.e. the start of day 51.

Each day of the LT Epoch will have an amount of WISE tokens that are reservable by all those who deposit ETH to that day. Most days will have exactly five million WISE available, but the other days will have their available WISE amount randomly set within a predefined range. These random amounts will be determined by the contract shortly after the end of each random day, by leveraging the Provable (formerly called “Oraclize”) smart contract's Random Datasource interface. The generated randomness is delivered on-chain in a trustless and provably cryptographically secure manner. For more detailed information about Provable, please read their random datasource white paper and their security deep dive.

Each day's available WISE ends up getting split amongst the users who deposited ETH to that day, in direct proportion. In other words, a user that made a reservation on a particular LT day will later be able to mint the fraction of that day's available WISE that equals the fraction of the day's total ETH they personally sent in.