The Flashstake Protocol allows for the collection of a fee in the form of TBDs during the minting process when a user stakes into the protocol. This fee is directed towards the Flash Capacitor and is owned by FLASH token holders.
As the protocol grows, various Time Vaults will be developed by both the Flashstake DAO and external developers, resulting in a large number of different TBDs being taken as fees.
The Flash Capacitor allows for the arbitrage of these TBDs in exchange for depositing FLASH tokens. This process is typically carried out by arbitragers, who may accumulate a specific TBD within the Flash Capacitor in exchange for a fixed amount of FLASH tokens.
The fixed amount of Flash tokens is currently set to 100,000 but can be updated by the Flashstake DAO multisig.
There is not yet a way to use the Flash Capacitor from the Flashstake Dapp, but that is planned for a future update. However, you can interact directly with the Flash Capacitor smart contracts by clicking here to download the Flash Capacitor Instructions pdf.
If Bob Flashstakes and 8,000 TBDs are minted with a protocol fee of 1%, 80 TBDs would be taken as a fee and directed towards the Flash Capacitor
If Alice, an arbitrager, knows that 80 TBDs can be exchanged for 1,000 USDC if they are burned and redeemed against the yield pool, and 950 USDC can currently buy 100,000 Flash tokens, she might buy 100,000 Flash tokens in order to get the 80 TBDs and make a profit by accumulating them from the Flash Capacitor.
Currently, the Flash Capacitor charges a fee to arbitragers in the form of TBDs, which are then directed to the Flashstake DAO multisig. This fee is implemented to maintain a constant supply of TBDs and prevent potential manipulation of a Time Vault's yield pool.
The protocol has a hardcoded maximum limit of 20% for the protocol fee, and the latest protocol fee can be retrieved by polling the subgraph (read more).
The Flash Capacitor was previously referred to as the fToken Accumulator.