$KFI, a governance token of KlayFi. Users may stake $KFI into the $KFI Staking Pool and claim rewards. Rewards are profits from Performance Fee and vKSP System(KLAYswap’s governance model and token economy).
There is no maximum supply like most Yield Optimizers(Aggregators). Yet, the team considers several deflationary mechanisms to maintain constant upwards price pressure and market stability, such as buyback and burn, limiting supply, and more as the ecosystem grows.
$KFI is minted proportionate to the Performance Fee, and in the early launching period, 9 $KFI(Updated 2021 Oct 29th) will be minted for every 1 KLAY.
Users can earn $KFI by staking LP in each vault or buy $KFI through KLAY-KFI pool from KLAYswap.
Around 24.8% of $KFI, generated from Vaults' Performance Fee, will be used for product development, marketing activities, and market stabilization. Also, part of them will be used for buyback and burn.
There was no pre-sale of $KFI. 300,000 $KFI will be minted to provide early liquidity and distribute to LaunchPad participants along with KlayFi's official launch. Depending on the result of KlayFi LaunchPad, there might be one additional minting possible.