Champion Finance EVIC Genesis Pools Launch

Name: Champion Finance EVIC Genesis Pools Launch
Start: 2022-09-08
End: 2022-09-08
Location: AVAX

August 31 update – the team has delayed launch by 1 week (to September 8) to wait for audit results.

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

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

DETAILS

Genesis Pools
- Duration: 2 days
- 12.75 $EVIC rewards will be distributed across the following pools:
  - 20% — WETH.e pool (reduced to 5% after the first 12 hours)
  - 30% — AVIC / USDC LP pool (reduced to15% after the first 12 hours)
  - 30% — CHAM/ USDC LP pool (reduced to 15% after the first 12 hours)
  - 20% — CHAM pool (reduced to 5% after the first 12 hours)
  - EVIC / WETH.e LP pool added after 12 hours and weighted 60%
- No deposit or withdrawal fee
- There will be a selling tax on EVIC, determined by the price of $EVIC, for the first 4 weeks after genesis launch. After 4 weeks, all the taxes will be removed
  - 5% tax, if TWAP 0.9-1
  - 10% tax, if TWAP 0.8-0.9
  - 20% tax, if TWAP below 0.8
  - 30% tax within 24 hours after rebase
- LP Farms and Boardroom open immediately after genesis farming ends
- $EVIC can be used to create $EVIC/WETH.e LPs and staked in the LP farms to earn $CHAM or staked in the Boardroom to earn more $EVIC
- Ownership renounced for GenesisPool contract [tx]

Tokens
- $EVIC is the algo-stable, pegged 1:1 to WETH.e
  - Initial supply: 15
    - 12.75 — Genesis farming
    - 0.75 — Airdrop to $AVIC Node holders
    - 1.5 — DAO fund
- $CHAM is the shares token (across all peg 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
- Token ownership renounced for $CHAM [tx]

Features
- LP Node pools (opens 1 week after Boardroom)
  - lock up LPs in node pools for 3 months and earn daily $CHAM rewards at 1-3% daily APR
  - 50% early withdrawal tax, if withdrawn before lock up period ends (fees sent to Protocol Owned Liquidity)
  - Referrer bonus: 3% of deposited value of referral
- Rebate (bond mechanism for building Protocol Owned Liquidity)
  - deposit bonding assets such as; BTCb/WETH.e/USDC/USDC.e/WAVAX/MIM, and receive peg tokens at a discount
  - rebate opens when TWAP > 1.01
- WETH.e single staking pool (opens 1 week after Boardroom)
  - lock up WETH.e for 3 months and earn $CHAM at a fixed 100% APY
  - 50% early withdrawal tax and loss of interest, if withdrawn before lock up period ends
  - 5 day rewards claim period after lock up period ends, and if not claimed, rewards auto-compounded and the 3 months lock up period is reset
  - Referrer bonus: 3% of deposited value of referral
- 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 0.8 at an epoch
    - TWAP has been below 1.00 for 10 consecutive epochs (6 hours/epoch)
  - Excluded from rebase – unclaimed EVIC rewards in genesis; $EVIC in WETH.e single side staking pool; $EVIC in DAO and Protocol Owned Liquidity wallets