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)
- 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: 1million USD
- 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, boost for a certain period).
- $KFI rewards are cumulative during the period of LaunchPad.
- Calculated weight is fixed when LaunchPad begins based on Pool’s APR from KLAYswap.
- Boost starts with 2.0x and gradually decreases down to 1.0x. - Rewards for participants will be distributed three times separately. 20% of rewards = on the date of KlayFi official launch, 30% of rewards = 30 days after the official launch date, 50% of rewards = 60 days after the official launch date.
How to participate
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.
FAQ
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.
Q. What if the launch date is postponed? Can users withdraw?
- If the official launch date is postponed, the locking period will be extended. Yet, the KlayFi team set a contract of the withdrawal feature active after four weeks, and users can safely withdraw LP.
Q. What is the calculation methodology for $KFI rewards?
