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$KFI is a native governance token of KlayFi that follows the KCT(Klaytn Compatible Token). $KFI holders govern(TBD) our ecosystem and receive the most Performance Fee profits.
$KFI will be available on KLAYswap. Our team puts sincere efforts into listing $KFI on CEX and DEX. We hope to share great announcements soon.
NO. It is not. Just minting ratios is $1 KLAY per 10 $KFI to calculate reward based on Performance Fee. It does not mean that the price of $KFI is fixed to 1/7 of $KLAY. You may find a similar case with Pancake Bunny, which has a Performance Fee scheme. Moreover, if the price of $KFI is higher than the minting ratio of Performance Fee, users can benefit from maximizing profits. The minting ratio is also subject to change depending on market situations. If there is a change in the minting ratio of $KFI, we will announce it via our official communication channels.
There is a 0.5% withdrawal fee only if a withdrawal happens within 72 hours of deposit from KlayFi Prime / Growth Vaults. We have this withdrawal fee structure to prevent possible exploitation from bad-faith users. A withdrawal fee will provide more benefits to long-term holders and the KlayFi ecosystem.
50% Performance Fee (collected from KlayFi Prime / Growth Vaults) is designed to contribute to the KlayFi ecosystem in the following ways. $KSP, 25% of the Performance Fee, is semi-permanently converted to vKSP of KLAYswap. All vKSP will be voted to 'KLAY-KFI' pool in KLAYswap to enhance its rewards. Such a mechanism helps to increase the liquidity of KLAY-KFI, positive impact on the upwards price pressure of $KFI. For the rest of $KSP, 25% of the Performance Fee will be converted to $KLAY and go to the $KFI staking pool users as rewards.
Additional rewards from voting will be used for the KlayFi ecosystem. The KlayFi team designed the architecture that earns additional vKSP by locking $KSP and voting for KLAY-KFI pool or utilizes for buyback to raise the value of $KFI.
APR (Annual Percentage Rate) is the yearly interest. APR does not include compounding effects that occur from reinvesting profits. APY (Annual Percentage Yield) is the compound interest accrued. It means reinvesting profits while staking your assets. APY increases exponentially based on the frequency of compounding profits. The more often you compound your interest, the greater the difference between APR and APY. KlayFi APY is based on the APRs of KLAYswap. Therefore, KlayFi's APY is not 'Fixed'.
The frequency of auto-compounding varies on deposited TVL in each vault. Our team continuously updates the frequency considering multiple factors that provide the optimal result for users.
KlayFi was created by a team with a strong background in blockchain, crypto, and DeFi. Like many other DeFi protocols in DeFi, we believe the code speaks for our team. The KlayFi team decided to be anonymous because it allows us to concentrate on our services and provide a better experience. It also minimizes external factors like rules and regulations evolving around the world.
KlayFi uses only proven codes of leading DeFi protocols by the top-tier auditors and communities. Additionally, the team set codes for price calculation and governance token minting private to mitigate possible risks. The team can not arbitrarily withdraw deposits (Assets) in KlayFi. We put efforts into securing users' assets and reducing risks. Nonetheless, every smart contract is exposed to undiscovered risks. We highly recommend you review the project thoroughly. It is important not to trust but to verify the legitimacy of each project by confirming the data/code. DYOR (Do Your Own Research). Please refer to the security section(link) for details.