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Home All Events Kraken Finance Genesis Pools Launch

Date

Oct 16 2022
Expired!

TimePacific Time

7:00 am

Your Time

  • Timezone: America/New_York
  • Date: Oct 16 2022
  • Time: 10:00 am

Status

ActiveDelayed

Kraken Finance Genesis Pools Launch

October 16 update – Genesis did not launch as planned, the team says they will update “soon.”

October 13 update – launch delayed to October 16.

New algorithmic stablecoin pegged 10:1 to DAI on BSC.

DETAILS
  • Genesis Farms
    • Genesis farming will last for 48 hours
    • 20,000 KRAKEN rewards to be distributed across the following pools:
      • 10,000 — KRAKEN/DAI LP pool
      • 6,000 — BNB pool
      • 4,000 — DAI pool
    • No deposit or withdrawal fee
    • 6% (??) sales tax on KRAKEN and KSHARE, and during LP creations; tax applied when peg token is at (or over) peg. Use the built-in zap feature on the dApp to avoid tax when creating LPs
    • governanceRecoverUnsupported function removed on genesis contract
  • Tokens
    • $KRAKEN is the algo-stable, pegged 10:1 to DAI
      • Initial supply: 20,500
        • 20,000 — Genesis farming
        • 500 — Pre-mint for initial liquidity (200 added to liquidity and 300 held by contract creator at time of review)
    • $KSHARE is the shares token
      • Total supply: 37,000
        • 29,999 — Farming rewards (vested linearly over 350 days)
        • 3,500 — DAO fund (vested linearly over 160 days – 21.86 KSHARE/day)
        • 3,500 — Team fund (vested linearly over 160 days – 21.86 KSHARE/day)
        • 1— Pre-mint for initial liquidity
    • $OCTO is bond token
    • Ownership renounced for $KRAKEN [tx]
  • Features
    • Fire Tax
      • Sell tax on KRAKEN and KSHARE when peg price is under at or above peg (tax used to buyback KRAKEN)
    • Rebate (bond mechanism for building Protocol Owned Liquidity)
      • deposit assets such as; USDC/DAI/USDT/BUSD, to receive discounted KRAKEN/DAI LP and also earn KSHARE rewards
      • bonded rewards linearly vests over 10 days
    • Referral system
      • Refer and receive 3.2% of a referred user’s sales tax; the referee will receive 20% off their sales taxes
    • In-built auto-compounder
      • KRAKEN/DAI and/or KSHARE/DAI auto-compounding vaults to earn KSHARE
      • compounds every 2 hours or when a user claims the bounty using ‘Harvest’ function
      • 4% fee on claimed rewards for every compound (fee used to buyback and burn KRAKEN)
      • withdrawal taxes apply on withdrawing rewards, as necessary

Blockchain

BSC

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