Paid promotion. Always do your own research and use risk management.

Home All Events - Ape O'Clock Champion Finance EVIC LP Farms & Boardroom Launch

Date

Sep 10 2022
Expired!

TimePacific Time

6:00 am

Your Time

  • Timezone: America/New_York
  • Date: Sep 10 2022
  • Time: 9:00 am

Status

Active

Champion Finance EVIC LP Farms & Boardroom Launch

August 31 update – the team has delayed genesis launch by 1 week to wait for audit results, thus delaying this launch as well.

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
  • LP Farms
    • Duration: 12 months
    • Stake LP tokens in the farms to earn $CHAM
    • $CHAM distributed across the following pools;
      • 30% — $AVIC / USDC LP pool
      • 40% — $CHAM / USDC LP pool
      • 30% — $EVIC / WETH.e LP pool
    • No deposit or withdrawal fee in the farms
    • Boardroom opens at the same time as LP farms
    • $CHAM earned can be staked in the Boardroom to earn $EVIC, or used to create $CHAM/USDC LP and staked back in LP farms or in LP Node pools (which opens 1 week after Boardroom) to earn more $CHAM
  • Boardroom
    • Stake $CHAM and/or $EVIC / WETH.e LP in the Boardroom to earn $EVIC
    • During expansion, newly minted $EVIC rewards are distributed as follows;
      • 65% — Reward for $CHAM Boardroom stakers
      • 10% — Reward for EVIC / WETH.e LP Boardroom stakers
      • 15% — Protocol Owned Liquidity fund
      • 10% — DAO fund
    • Boardroom only prints new $EVIC when TWAP > 1.01
    • Epoch duration: 6 hours
    • Staked $CHAM locked for 6 epochs and $EVIC rewards locked for 3 epochs
  • 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
Related Posts

Blockchain

AVAX

Next Event

Paid promotion. Always do your own research and use risk management.