Champion Finance LP Farms 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.

DETAILS

• LP Farms
  • Duration: 365 day
  • End Time: July 24, 2023 5:00 PM UTC
  • Stake LP tokens in the farm to earn $CHAM rewards
  • 650,000 $CHAM will be distributed across the following pools;
    • 330,000 — $AVIC / USDC LP pool
    • 220,000 — $CHAM / USDC LP pool
    • 100,000 — $AVIC / CHAM LP pool

• Tokens & Mechanics
  • $AVIC 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 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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