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.

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