UbiStake - a staking and dividend distribution platform

UbiStake is the staking service of the Ubix.Network ecosystem. It started as a replacement for third-party services that had stopped being reliable, and ended as a rebuild of the whole ecosystem: single sign-on across every product, in-house analytics, and a mechanism that distributes a business's profit among the holders of its token.

Client

Ubix.Network

Industry

Blockchain, Fintech

Services

Web3 and blockchain, Backend, Frontend, Design, Analytics, Bots, On-Line services, Outstaff, Web development, Software, DevOps, Corporate systems, Prototyping, MVP development, Web3 experience, Technical audit, IT consulting

Period

2021-2025

Why we took it on

Before staking, the ecosystem had an exchange and a network explorer. Staking ran on third-party services - right up to the moment they began to fail. First one was down for a day or two, then another, then several went dark almost at once. The exchange and all token operations sagged with them: holders' income depended on someone else's infrastructure that nobody could influence.

The answer suggested itself - build our own staking. But one service was not enough: it would still have been a separate island with its own registration. So the task was set wider.

• Our own staking with automatic accrual and withdrawal without lock-up.
• Single sign-on across every ecosystem service that has a login and password.
• In-house analytics instead of guesswork about what is going on.
• A way to verify any accrual without taking anyone's word for it.

Single sign-on

A separate identity server took over registration, sign-in and access rights. Applications stopped storing credentials - they ask the server over a REST API.

The exchange, the notarisation service and the document signing service moved under the shared login. Then we made the transition seamless: a person clicks a link to a neighbouring service and lands there already signed in, with no second password prompt.

The wallet is deliberately left out of single sign-on: there, access to funds comes from the seed phrase, and adding an external account to it would weaken the protection.

Staking and reward distribution

At the core of the service is a contract that accepts UBX and other ecosystem tokens for staking and calculates the reward itself.

Profit distribution for user-issued tokens

This part appeared once two things came together: single sign-on and a service for issuing tokens without code.

An entrepreneur issues a token for their business, gives it their own ticker and sells it - that is how they raise investment. When the business starts making a profit, they transfer the share agreed with holders to the service address of their token. The system takes it from there: it looks at who holds how many tokens and distributes what arrived in proportion.

Held ten per cent of the issue - received ten per cent of the distributed sum. No code, no smart contracts written by hand: both sides work with buttons in a dashboard.

An accrual can be checked in any service - in the wallet, on the exchange, in staking itself - while the full picture on top of the blockchain is shown by the network explorer.

Payments and protection of funds

An integration with a payment service generates a one-time address for every deposit, and a withdrawal is confirmed by a separate step with a limited time window. The one-time address solves two problems at once: the payment is unambiguously linked to the user, and reusing an address becomes impossible.

Monitoring and analytics

A separate service collects statistics on staking and payouts. The admin panel shows it in real time - and not only for the admin: users saw their own slice of the analytics right inside the service.

This turned out to be the most demanding part. The same data had to be shown to two different audiences without mixing anything up: the whole picture for the administrator, only their own figures for the individual. In finance the price of a mistake here is not "inconvenient" but a leak, so access separation took longer to think through than collecting the statistics did.

This was the beginning of the in-house analytics for the whole ecosystem - a separate product that gathered the spending of more than ten projects in one place and hands the figures on through the same role model: reports on an internal dashboard for managers, API for the services. The report on accruals and airdrops that a user sees here comes from exactly there. The screenshots of that system are covered by a non-disclosure agreement, so its case is text only.

Network explorer

The explorer is the final checkpoint for every service of the ecosystem. Whatever staking, the exchange or the wallet may display, any accrual and any transaction can be verified directly against the blockchain.

No design requirements were set, so the interface was prototyped in Quasar: the ready-made components were enough to make the data visible and workable. The prototype stayed on as a working tool.

The substance was underneath it. We wrote the server side in full, and several years later moved it to a fresher stack.

Infrastructure

The backend runs on Node.js 16+ with a modular architecture: new things are added as separate parts without touching what already works. The main storage is PostgreSQL.

Interface

A dashboard in light and dark themes, each worked out separately. Deposit, withdrawal, settings and operation exports sit on one level, with no nested menus.

UbiStake staking platform stack

• Vue.js
• Quasar
• Node.js 16+
• PostgreSQL
• REST API
• Identity Server
• Payments Service
• Analytics Service