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Home All Events - Ape O'Clock Champion Finance Genesis Pools Launch


Jul 22 2022

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1:00 am

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  • Timezone: America/New_York
  • Date: Jul 22 2022
  • Time: 4:00 am



Champion Finance Genesis Pools Launch

July 21 update – re-launching with new, audited contracts.

July 2 update – something went wrong with the LP farms launch – apparently there was a “rogue dev”; the team plans on relaunching / redeploying. They say they’ve taken a snapshot of holders at the time of the issue.

New tomb fork + node hybrid launch on Avalanche.

  • New Genesis pool with updated distributions
  • Holders of $AVIC and $CHAM tokens from first launch will be airdropped new tokens, 2 weeks after Genesis pool ends
  • Genesis Pools
    • Duration: 72 hours
    • 38,250 $AVIC rewards will be distributed across the following pools:
      • 50% — $USDC (reduced to a weighting of 15% after the first 12 hours)
      • 50% — $WAVAX (reduced to a weighting of 15% after the first 12 hours)
      • After 12 hours, $AVIC / USDC LP pool will be added and weighted 70%
    • 0% deposit or withdrawal fee on genesis pools
  • Tokens & Mechanics
    • $AVIC (“Victory”) is the algo-stable, pegged 1:1 to USDC
      • Initial supply: 45,001 $AVIC
        • 38,250 — Genesis pool rewards
        • 6,750 — Airdrops
        • 1 — Pre-mint for initial liquidity
    • $CHAM (“Champion”) is the shares token
      • Total supply: 700,001 $CHAM
        • 650,000 — Farming rewards (vested linearly over 12 months)
        • 50,000 — Node rewards (vested linearly over 12 months)
        • 1— Pre-mint for initial liquidity
    • $CHAM will also be the governance token and holders will have voting rights on proposals
    • No bond mechanism
    • Rebase mechanism will be implemented to support $AVIC peg, by reducing the circulating supply of $AVIC when either of the following conditions are met;
      • TWAP (Time Weighted Average Price) is at or below 0.80 at an epoch
      • TWAP has been below 1.00 for 10 consecutive epochs (6 hours/epoch)
    • NODE pools will enable users to lock $AVIC to earn higher $CHAM rewards
    • NODE holders will also receive benefits such as opportunity to win $CHAM bonuses and airdrops on cross-chain launches
  • Roadmap
    • Cross-chain launches on Fantom, BSC and Polygon
    • Development and launch of raffle system, launchpad, lending & borrowing mechanism
  • Ownership renounced for GenesisRewardPool, $AVIC, $CHAM contracts
  • Operator transferred to Treasury for $AVIC, $CHAM contracts
  • ❌ Contract creator is the Operator for all other contracts, at time of review on July 21, 2022
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