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Home All Events Champion Finance EVIC Genesis Pools Launch

Date

Sep 08 2022
Expired!

TimePacific Time

6:00 am

Your Time

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

Status

Active

Champion Finance EVIC Genesis Pools Launch

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
  • Roadmap includes launch of BTC pegged token; planned for the end of September, launch of USDC and WETH.e single side staking pools and LP Node pools
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