CLever Liquidity & Staking Launch
Token launch for a $CVX (Convex Finance) bribe/yield automation protocol on Ethereum, from AladdinDAO team.
Staking is scheduled to be live on Oct. 13 at 12am UTC.
DETAILS
- Launch Details
- Token will launch on Curve DEX, here
- Token pair: CLEV/ETH
- Listing price: 0.004338 ETH (~$5.63)
- Presale price: 1 CLEV / CVX
- 100,000 CVX hard cap filled in presale (‘token offering’) held on their website here
- No vesting for presale
- Initial circulating supply: 1,035,000
- Initial circulating market cap: $5,827,050
- Initial liquidity: 20,000 CLEV / 86 ETH (~$220,000)
- Taxes: 0%
- CLEV liquidity mining will be live on Oct. 13,12am UTC. Users will be able to stake CLEV/ETH LP to earn CLEV rewards
- Protocol is currently in beta and users have been participating in CVX yield automation and earning clevCVX rewards (more info below)
- Mechanics & Features
- CLever automates the process of earning yield with CVX – locking, voting, collecting bribes, and re-locking in Convex as needed
- Users will be able to lock CVX to claim accrued and future yields
- Users can create leverage with their CVX, looping to a maximum of ~2X their initial CVX deposit
- Yields are claimable as $clevCVX
- $clevCVX is a synthetic token minted against real CVX
- $clevCVX can be redeemed for CVX at 1:1 ratio
- $clevCVX can be swapped to CVX via CLever’s Furnace or through Curve’s clevCVX/CVX liquidity pool
- Users can claim 50% of future yields as $clevCVX
- Claimed future yields are debts in the system, and can be repaid any time directly in $clevCVX or CVX (1:1) – early repayment fee applies
- users are required to have at least 2x their claimed future yields locked in the system
- claiming future yield will require CVX to stay locked while it is earned
- when locked CVX rewards are harvested, outstanding debt is reduced and claimable increases
- $clevCVX will only be accrued when outstanding debt is 0
- All CVX locked with CLever is vote-locked with Convex and used to vote for maximum bribe rewards, with all bribes swapped to CVX and claimable as more $clevCVX
- Locked CVX can be unlocked by initiating an unlock request, which will be withdrawable at the next unlock cycle from Convex (could be up to 17 weeks)
- Locked CVX is automatically re-locked after each unlock if an unlock is not requested
- Fees structure;
- 20% fee on yields, which will be split 50/50 between clevCVX/CVX liquidity pool and vote-locked CLEV revenue sharing program
- 5% early repayment fee of claimed future yields
- CLEV tokens can be vote-locked for boosted farming yields (CLEV/ETH and clevCVX/CVX farms), governance power, and revenue sharing
- 75% of CLever’s platform fee will be distributed to ve-locked holders (the rest goes to the treasury for growth & operations)
- Tokenomics
- Token symbol: $CLEV
- Total supply: elastic
- 5% — Presale/IDO (no lock)
- 48.25% — Liquidity incentives (5% linearly vested for the first year, decreasing by 10% each year; full emission will take 50 years)
- 30% — AladinDAO (60,000 linearly vested over 73 days beginning at TGE, then linear vesting over 2 years)
- 5% — Treasury reserve (linear vesting over 2 years)
- 5% — Airdrop (linear vesting over 1 year)
- 4% — Community contributors (month vesting over 2 years)
- 7% — Strategic partnerships (linear vesting over 3 months from when bribes starts)
- 1% — Initial liquidity
- 0.5% — Beta bonus