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Home All Events Champion Finance LP Farms Launch

Date

Jul 25 2022
Expired!

TimePacific Time

1:00 am

Your Time

  • Timezone: America/New_York
  • Date: Jul 25 2022
  • Time: 4:00 am

Status

Active

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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