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Home All Events Champion Finance BVIC Genesis Pools Launch

Date

Oct 08 2022
Expired!

TimePacific Time

6:00 am

Your Time

  • Timezone: America/New_York
  • Date: Oct 08 2022
  • Time: 9:00 am

Status

Active

Champion Finance BVIC Genesis Pools Launch

New algorithmic stablecoin pegged 1:1 to BTC on Avalanche.

This is the launch of the third peg token in the Champion Finance multi-peg ecosystem, following the launch of the AVAX pegged $AVIC and ETH pegged $EVIC. All peg tokens are maintained by the same share token, $CHAM.

DETAILS
  • Genesis Farms
    • Genesis farming will last for 3 days
    • 2.25 BVIC rewards to be distributed across the following pools:
      • 10% — WBTC.b pool (reduced to 5% after the first 24 hours)
      • 20% — EVIC/WETH.e LP pool (reduced to 10% after the first 24 hours)
      • 20% — UVIC/USDC LP pool (reduced to 10% after the first 24 hours)
      • 30% — CHAM/AVAX LP pool (reduced to 10% after the first 24 hours)
      • 20% — CHAM pool (reduced to 5% after the first 24 hours)
      • BVIC / WBTC.b LP pool added after 24 hours and weighted 60%
    • No deposit or withdrawal fee
    • Variable sell tax will be applied when selling BVIC and during LP creations. Tax applied when the Time Weighted Average Price (TWAP) is below peg;
      • 10% tax, if TWAP 0.9-1
      • 15% tax, if TWAP 0.8-0.9
      • 20% tax, if TWAP below 0.8
      • 30% tax within 24 hours after rebase
    • Use the built-in LP feature on the dApp to avoid tax when creating LPs
    • Maximum sell limit of 0.5% of circulating supply for every sell
  • Tokens
    • Algo-stable tokens:
      • $BVIC is the algo-stable, pegged 1:1 to BTC.b
      • $UVIC is the algo-stable, pegged 1:1 to USDC
      • $EVIC is the algo-stable, pegged 1:1 to WETH.e
      • Variable sell tax, ranging from 10-20% is applied on all algo-stable tokens, when price is under peg. All the taxes sent to Protocol Owned Liquidity multisig
    • $CHAM is the shares token (across all algo-stable tokens)
      • Total supply: 72,001
        • 61,200 — LP Farm & Node rewards (vested linearly over 12 months)
        • 5,400 — DAO fund (vested linearly over 12 months)
        • 5,400 — Team fund (vested linearly over 12 months)
        • 1— Pre-mint for initial liquidity
    • $CHAM is also the governance token and holders have voting rights on proposals
    • No bond mechanism
  • Features
    • Rebate (bond mechanism for building Protocol Owned Liquidity)
      • deposit bonding assets such as; BTC.b/WETH.e/USDC/USDC.e/WAVAX/MIM, and receive peg tokens at a discount
      • rebate opens when TWAP > 1.01
    • Rebase mechanism
      • used to support EVIC peg by reducing the circulating supply of $EVIC when either of the following conditions are met;
        • TWAP is at or below 0.6 at an epoch
        • TWAP has been below 1.00 for 15 consecutive epochs (6 hours/epoch)
      • Excluded from rebase – unclaimed BVIC rewards in genesis, $BVIC in DAO and Protocol Owned Liquidity wallets
    • LP Node pools
      • Lock up tokens in node pools for 1- 3 weeks to earn daily $CHAM rewards of 0.3% – 0.39% daily
      • 50% early withdrawal tax, if withdrawn before lock up period ends (fees sent to Protocol Owned Liquidity)
    • Chamily Pools
      • Earn quadruple rewards by staking Yield Wolf AVIC-LP receipt in the Chamily pool
      • Earn – AVIC LP APR on farm and auto-compounded by Yield Wolf, CHAM rewards, AVIC rewards and extra AVIC rewards when TWAP>1.01
      • Staked Yield Wolf LP is locked until the end of contract lifetime (ends on Oct. 15)
      • 50% early withdrawal tax, if withdrawn before lock up period ends (fees sent to Protocol Owned Liquidity)
    • ChamETF (Champion Finance ETF) for EVIC/BVIC/UVIC
      • Scheduled to launch on Oct. 15
      • ChamETF will be a new token that is distributed to Boardroom stakers instead of newly minted peg tokens
      • Newly minted peg tokens in the Boardroom is sold by the protocol to bring its price back to peg, and the profits converted to ChamETF tokens
      • ChamETF can then be sold without impact on the price of the peg token
      • ChamETF pool will include: BTC.b/ USDC/ WETH.e/ AVAX/ CHAM
    • Yield Wolf auto-compounding vaults
      • Stake LP tokens in Yield-Wolf vaults to earn auto-compounding rewards

Blockchain

AVAX

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