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Home All Events Kraken Finance LP Farms & Boardroom Launch

Date

Oct 18 2022
Expired!

TimePacific Time

7:00 am

Your Time

  • Timezone: America/New_York
  • Date: Oct 18 2022
  • Time: 10:00 am

Status

ActiveDelayed

Kraken Finance LP Farms & Boardroom Launch

October 16 update – Genesis did not launch as planned, thus delaying the farms and boardroom. The team says they will update “soon.”

October 13 update – Genesis was delayed to October 16, thus delaying this launch as well.

New algorithmic stablecoin pegged 10:1 to DAI on BSC.

DETAILS
  • LP Farms
    • Farming emission will last for 350 days
    • Stake LP tokens in the farms to earn KSHARE
    • 29,999 KSHARE to be distributed across the following pools;
      • 60% — KRAKEN/DAI LP pool
      • 40% — KSHARE/DAI LP pool
    • No deposit fee
    • KSHARE rewards are vested over 7 days
    • 10% early withdrawal tax on withdrawing LP tokens, reducing to 1% over the farm’s vesting period (7 days)
    • Deposits and withdrawals does not reset the tax free amount available to withdraw
    • Boardroom opens 2 hours after LP farms
  • Boardroom (opens at 4pm UTC)
    • Stake KSHARE and/or KSHARE/DAI LP in the Boardroom to earn KRAKEN
    • During expansion, newly minted KRAKEN rewards are distributed as follows;
      • 60% — Reward for Boardroom stakers
      • 28% — Rebates treasury
      • 8% — DAO fund
      • 8% — Dev fund
    • Epoch duration: 6 hours
    • Staked KSHARE and KSHARE/DAI are locked for 4 epochs and KRAKEN rewards locked for 2 epochs (every deposit/claim/withdrawal resets the timer)
  • Tokens
    • $KRAKEN is the algo-stable, pegged 10:1 to DAI
      • Initial supply: 20,500
        • 20,000 — Genesis farming
        • 500 — Pre-mint for initial liquidity (200 added to liquidity and 300 held by contract creator at time of review)
    • $KSHARE is the shares token
      • Total supply: 37,000
        • 29,999 — Farming rewards (vested linearly over 350 days)
        • 3,500 — DAO fund (vested linearly over 160 days – 21.86 KSHARE/day)
        • 3,500 — Team fund (vested linearly over 160 days – 21.86 KSHARE/day)
        • 1— Pre-mint for initial liquidity
    • $OCTO is bond token
    • Ownership renounced for $KRAKEN [tx]
  • Features
    • Fire Tax
      • Sell tax on KRAKEN and KSHARE when peg price is under at or above peg (tax used to buyback KRAKEN)
    • Rebate (bond mechanism for building Treasury)
      • deposit bonding assets such as; USDC/DAI/USDT/BUSD, to receive discounted LP tokens (KRAKEN/DAI and/or KSHARE/DAI), and also earn KSHARE rewards
      • discounted bonds linearly vests over 10 days and KRAKEN rewards vests over 14 days
      • rebate opens when TWAP > 1.01
    • Referral system
      • Refer and receive 3.2% of a referred user’s sales tax; the referee will receive 20% off their sales taxes
    • In-built auto-compounder
      • KRAKEN/DAI and/or KSHARE/DAI auto-compounding vaults to earn KSHARE
      • compounds every 2 hours or when a user claims the bounty using ‘Harvest’ function
      • 4% fee on claimed rewards for every compound (fee used to buyback and burn KRAKEN)
      • withdrawal taxes apply on withdrawing rewards, as necessary

Blockchain

BSC

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