Spaghetti Money (PASTA)

 Basics

• Founded in:
• Mainnet release:
• Based in:
• From CoinDesk (19-8-2020):

"Spaghetti Money offers staking pools in several DeFi tokens, including yEarn (YFI), Maker (MKR), and Compound (COMP). Spaghetti doesn't have a public team nor has its code been audited. Some of the code for staking rewards came from YAM – another yield farming protocol that went up in a fireball last week."

• From CoinDesk (31-8-2020):

"This one follows the Yearn.Finance script, by creating a pool (or several) that users can put assets into. That pool will seek the best yields it can, even as token-specific yields change. From there, twists ensue. Once a pool is locked it’s locked and the rules do what they do; it also distributes a PASTA token whose only value is that it destroys itself aggressively."

• “Why have spaghetti code when you can have spaghetti money?” they asked in their Medium post.

Token

Launch

• From The Defiant (19-8-2020):

"Yield farmers have poured more than $200M in the new Spaghetti Money protocol, which went live less than 48hrs ago, with no audits or known team."

Token allocation

• From The Defiant (19-8-2020):

"Users will be able to stake COMP, MKR, SNX, WBTC, yaLINK, LEND, WETH and YFI in exchange for PASTA tokens —1 million tokens will be distributed per pool and the total supply will be 15 million. The pools will be live for 7 days. The protocol will then offer staking rewards for a yyCRV/PASTA Uniswap pool, which will last for 21 days. After this, there will be no more tokens distributed and will be impossible to mint additional tokens.

PASTA is a deflationary ERC20 which burns 1% of the value spent in every transaction and the protocol has no governance. “Frankly, we didn’t feel comfortable trying after YAM,” the team wrote."

Utility

• From CoinDesk (19-8-2020):

"There's also a native PASTA token – that has no function since there isn't a governance model – that will be publicly distributed through a staking pool sometime in the next seven days."

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum, ERC20
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Governance

• From The Defiant (19-8-2020):

"The protocol has no governance. “Frankly, we didn’t feel comfortable trying after YAM,” the team wrote."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].
• Had no audits when it launched (19-8-2020).
• Scored a 43% on DeFi Safety (9-2020); "They clearly state these are unaudited contracts"

Usage

• From CoinDesk (19-8-2020):

"Launching 10 hours ago, investors have so far staked a total of $203 million in digital assets into its protocol. Total value locked (TVL) had surged by $3 million just as CoinDesk was going to press."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].