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Home All Events - Ape O'Clock CLever Liquidity & Staking Launch


Oct 12 2022

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7:00 am

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  • Timezone: America/New_York
  • Date: Oct 12 2022
  • Time: 10:00 am



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.

  • 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
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