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Home All Events Champion Finance Boardroom & Nodes Launch

Date

Jul 26 2022
Expired!

TimePacific Time

1:00 am

Your Time

  • Timezone: America/New_York
  • Date: Jul 26 2022
  • Time: 4:00 am

Status

Active

Champion Finance Boardroom & Nodes Launch

July 21 update – re-launching with new, audited contracts.

July 2 update – something went wrong with the LP farms launch – apparently there was a “rogue dev”; the team plans on relaunching / redeploying. They say they’ve taken a snapshot of holders at the time of the issue.

New tomb fork + Node hybrid launch on Avalanche.

DETAILS
  • Boardroom
    • Stake $CHAM in the boardroom to earn $AVIC rewards
    • During expansion, newly minted $AVIC rewards are distributed as follows;
      • 85% — Reward for Boardroom stakers
      • 10% — DAO fund
      • 5% — DEV fund
    • Epoch: 6 hours
    • Staked $CHAM will be locked for 4 epochs. Timer resets on every stake and rewards claim
    • $AVIC rewards will be locked for 2 epochs. Timer resets on every rewards claim and stake
  • Node Pools
    • NODE pools will enable users to lock $AVIC to earn higher $CHAM rewards
    • 100 $AVIC = 1 NODE
    • There are 3 pools based on time lock:
      • 1-week locked pool: maximum 7% of the total current supply of $AVIC
      • 2-week locked pool: maximum 7% of the total current supply of $AVIC
      • 3-week locked pool: maximum 7% of the total current supply of $AVIC
    • 50,000 $CHAM rewards will be distributed to NODE holders (vested linearly over 12 months)
      • 1-week locked pool: 14,710 $CHAM
      • 2-week locked pool: 16,910 $CHAM
      • 3-week locked pool: 18,380 $CHAM
  • Tokens & Mechanics
    • $AVIC is the algo-stable, pegged 1:1 to USDC
      • Initial supply: 45,001 $AVIC
        • 38,250 — Genesis pool rewards
        • 6,750 — Airdrops
        • 1 — Pre-mint for initial liquidity
    • $CHAM is the shares token
      • Total supply: 700,001 $CHAM
        • 650,000 — Farming rewards (vested linearly over 12 months)
        • 50,000 – Node rewards (vested linearly over 12 months)
        • 1— Pre-mint for initial liquidity
    • $CHAM will also be the governance token and holders will have voting rights on proposals
    • No bond mechanism
    • Rebase mechanism will be implemented to support $AVIC peg, by reducing the circulating supply of $AVIC when either of the following conditions are met;
      • TWAP (Time Weighted Average Price) is at or below 0.80 at an epoch
      • TWAP has been below 1.00 for 10 consecutive epochs (6 hours/epochs)
    • NODE pools will enable users to lock $AVIC to earn higher $CHAM rewards
    • NODE holders will also receive benefits such as opportunity to win $CHAM bonuses and airdrops on cross-chain launches
    • Rebase mechanism will be implemented to support $AVIC peg, by reducing the circulating supply of $AVIC when either of the following conditions are met;
      • TWAP (Time Weighted Average Price) is at or below 0.80 at an epoch
      • TWAP has been below 1.00 for 10 consecutive epochs (6 hours/epoch)
  • Roadmap
    • Cross-chain launches on Fantom, BSC and Polygon
    • Development and launch of raffle system, launchpad, lending & borrowing mechanism
  • Ownership renounced for GenesisRewardPool, $AVIC, $CHAM contracts
  • Operator transferred to Treasury for $AVIC, $CHAM contracts
  • ❌ Contract creator is the Operator for all other contracts, at time of review on July 21, 2022
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