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Home All Events Champion Finance UVIC LP Farms Launch

Date

Oct 02 2022
Expired!

TimePacific Time

6:00 am

Your Time

  • Timezone: America/New_York
  • Date: Oct 02 2022
  • Time: 9:00 am

Status

Active

Champion Finance UVIC LP Farms Launch

Champion Finance is launching $UVIC farms and boardroom, to replace the previously launched AVIC token on Avalanche. Existing AVIC holders will be able to exchange their AVIC for UVIC on October 2 as well.

DETAILS
  • UVIC-USDC LP farm will open at this time
  • CHAM-AVAX LP farm will also launch at this time
  • The initial UVIC sell tax will be 50%, reducing 10% per day to 10% on Day 5; Day 6 and thereafter have no sell tax unless UVIC is under peg
  • Tokens
    • $UVIC is the algo-stable, pegged to $1
      • Variable tax of 10-20%, dependent on $UVIC price, all goes to $UVIC liquidity according to docs, this directly conflicts with information given in the Telegram on October 1
        • Use the native LP zapper to avoid tax when creating LPs
      • 30% tax on sells after a rebase
      • Maximum sell limit of 0.5% of the circulating supply
    • $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
    • Additional algo-stables:
      • $EVIC, pegged to 1 $ETH
      • $BVIC, pegged to 1 $BTC
      • Both also use the variable sell tax as described above for $UVIC
  • Features
    • LP Node pools
      • Lock up LPs in node pools for 1- 3 weeks for daily $CHAM rewards 0f 0.3% – 0.39% daily
      • 50% early withdrawal tax, if withdrawn before lock up period ends (fees sent to Protocol Owned Liquidity)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
    • Rebase mechanism
      • Used to support VIC tokens’ peg by reducing the circulating supply 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 VIC rewards, VIC in DAO and Protocol Owned Liquidity wallets
    • YieldWolf vaults
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