About KlayFi LaunchPad
Last updated
Last updated
Introducing the KlayFi LaunchPad for establishing an early ecosystem and providing liquidity of the protocol.
Period: July 12, 2021, 15:00:00 p.m. - July 26, 2021, 14:59:59 a.m. (All times are in KST)
The deadline for KlayFi LaunchPad participation is July 25, 2021, at 18:00 (KST).
The last snapshot will take place on the same date/time.
Users may deposit additional assets (KLAYswap LP) after the deadline. But there will be NO rewards for deposits between the last snapshot and the official launch date. The reason is that the team needs time to prepare the 1st $KFI rewards distribution for KlayFi LaunchPad participants. (Updated: July 24, 2021)
Objectives:
Building the KlayFi ecosystem by enhancing rewards of KLAY-KFI Pool from KLAYswap.
Establishing an early community by distributing $KFI to Klaytn DeFi users.
Preparing a quick whitelisting of KLAY-KFI Pool in KLAYswap.
Target committed amount: Unlimited(Updated: July 12, 2021)
Target committed amount is subject to change.
Calculation and distribution of $KFI rewards for KlayFi LaunchPad participants:
Rewards are proportionate to the level of contribution (weight for each vault, staking amount, staking period, $KFI:$KSP ratio for a certain period).
$KFI rewards are cumulative during the period of KlayFi LaunchPad.
Calculated weight is fixed when KlayFi LaunchPad begins based on Pool's APR from KLAYswap. (Airdropped tokens are also included in the APR calculation, and the tokens are converted to $KSP and calculated.)
Rewards for participants will be distributed three times separately. 20% of rewards = on the date of KlayFi official launch, (July 26th) 30% of rewards = 30 days after the official launch date, (August 25th) 50% of rewards = 60 days after the official launch date. (September 24th)
By staking and locking LP tokens for each vault from KLAYSwap during the LaunchPad period, participants get $KFI as rewards.
Step 1) Stake in the pool from KLAYswap. (once you stake, the KSLP token will be distributed to the user's wallet automatically) *If you are already using KLAYswap, you have KSLP tokens.
Step 2) Stake KSLP tokens by clicking the 'Deposit' button for a specific Vault in KlayFi.
Q. How long is the lock period?
Staked assets are locked until KlayFi's official launch date. Withdrawal is available afterward.
Q. What do I need to do after the launch date?
Reward and auto-compounding features of the vaults will be active after the launch date. KlayFi provides its services to users automatically. No further actions are needed. (*If users need further actions, the team will inform in advance.)
Q. What if the launch date is postponed? Can users withdraw?
If the official launch date is postponed, the locking period will be extended to a maximum of two weeks. The contract is designed to enable withdrawal of KSLP when the official launch starts or is delayed for more than two weeks.
Q. What are the supported wallets?
Kaikas(web), Dcent(mobile)
Q. What is the calculation methodology for $KFI rewards?
For example,
Alice deposits KSLP worth $10,000 in Vault A. A total of $1,000,000 is deposited in Vault A. Then, Alice's share ratio in Vault A is 1%.
Vault A's weight is 10. The sum of the weights of all Vaults is 100. Then, the share ratio of the weight for Vault A is 10% from the sum of the weights of all Vaults.
2,000 $KSP as a reward for one day in the entire Vaults. This day's KFI:KSP Ratio is 50. Then, the KFI allocated to Alice is 1% * 10% * 2,000 * 50 = 100 $KFI.
