KLAP — Token Generation Event FAQs

Reminder: KLAP token launches on July 25th, 10pm EST / July 25th, 2am UTC / July 26th, 11am KST

In order to help answer questions surrounding the Token Generation event, we have compiled a list of questions to help you!

What is the token address?

The token address is 0xd109065ee17E2dC20b3472a4d4fB5907BD687D09.

Where can I track the token after it launches?

You will be able to track here: https://www.geckoterminal.com/klaytn/pools

Which DEX will KLAP be on?

Through the Liquidity Drop, the community has provided a lot of initial liquidity to seed the KLAP-KLAY pool. This liquidity will be provided on ClaimSwap → https://claimswap.org/ ← a Uni-V2 style AMM.

Note: Anybody in the community has the ability to add pools and any other DEX, but KLAP liquidity mining rewards will initially only go to those that provided liquidity on ClaimSwap.

What will be the initial market cap and circulating supply?

As mentioned before, the community liquidity drop determined the launch price of KLAP.

The liquidity drop ended with 1,477,235.62 KLAY, which is equivalent to approximately $375,000. This is being paired with the 5M KLAP rewards, setting the initial pool price at approximately $0.075 / KLAP.

The initial circulating supply consists of:

• 4.5% in early incentives (lockdrop & premining — liquidity drop rewards are still locked)
• 0.1% in extra premining rewards (see below)
• 0.08% from IDO (KlayCity and SimpleDAO)

Since the pre-mined and lockdrop rewards are on a vesting schedule, only 50% is claimable at launch. Therefore, the initial circulating supply is actually 2.38%, or 23,800,000 KLAP.

This makes the market cap approximately $1,785,000 at launch.

Note: Treasury tokens will be governed by the community of KLAP holders. All investors/advisors/devs are locked for 6 months and then vest for 24 months linearly thereafter.

Read more info here: https://docs.klap.finance/klap-token/tokenomics

How much liquidity will be added on July 25th?

Initial liquidity will be approximately $1,000,000.

This consists of the liquidity drop seed liquidity along with additional liquidity added from the treasury. As mentioned in earlier announcements, the remainder of treasury liquidity will be added over time across different price ranges in order to help stabilize the pool over time.

When will testnet / Klapbassador / Discord role rewards be distributed?

We will be accounting for these rewards soon after the token launch. These tokens will be vested for 6 weeks like other KLAP rewards, and will be sent out some time in the next few weeks. Please keep up to date on our socials!

How often can I claim vested token rewards?

Token rewards are vested over 6 weeks, in 1 week tranches. Each week, ⅙ of the rewards that you earned vest, allowing you to claim in full without penalty.

At any point, unvested rewards can be claimed with a 50% penalty.

For example, let’s say you earned 60 KLAP in week 0, and stopped earning KLAP after.

Let’s say you waited until week 3, but in week 3 you want to claim everything despite the penalty. Since you have vested for 3 weeks, you get 30 KLAP in full. For the remaining 30 KLAP, you would need to pay the 50% penalty. Therefore, you would end up with 30 + 15 = 45 KLAP.

Does the 6 week vesting start this week or next week?

The vesting starts as soon as the token launches on July 25th, 2am UTC. The first week will be “week 0”.

Where do the penalty tokens go?

The penalty tokens go back into the treasury. The treasury is governed by KLAP token holders. Initially, we believe that it would be best for penalty tokens to be added to the Ve staking reward pool, naturally moving tokens from weaker hands to KLAP lockers.

When does pre-mining end?

Pre-mining will end right before token launch. After token launch, there will still be KLAP liquidity mining rewards for those that are lending/borrowing.

Since the initial pre-mining timeline was for 4 weeks, and this extends the premining period by 2 days, we will be increasing KLAY rewards for pre-mining by $18,000, and increasing KLAP rewards by 1M KLAP as well. The additional KLAP will come from the treasury.

Does the Liquidity Drop get additional mining rewards?

Liquidity drop participants get extra KLAP from the KLAP liquidity mining pool. If ClaimSwap elects to add CLA rewards for the pool, these rewards would also go to KLAP-KLAY liquidity providers. However, it is up to the community to vote on ClaimSwap and direct the rewards to the KLAP-KLAY pool!

Miscellaneous

1/12 of the tokens in the dev allocation will be minted and locked for 23–24 months in the form of VeKLAP NFTs at launch. None of these KLAP tokens will be part of circulating supply, but it gives the developers an opportunity to use them to vote for emissions and apply boosters on their farming. The proportion (1/12) was decided in order to make sure the amount would be relatively insignificant.

We are looking forward to Token Launch!

• KLAP Team

Disclaimer

You understand that the $KLAP tokens may have no intrinsic value and are solely tools of governance, and as such have no intrinsic potential for future appreciation in any form whatsoever. You further represent and warrant that you are an active user of blockchain technology and blockchain-based software systems and have the pre-requisite technical knowledge to understand what has been mentioned in this article and the risks that follow.

The information provided within this article is for general informational purposes only pertaining to the governance tool. You understand that the Klap Finance governance structure is an experiment in the field of decentralization and community governed structures, in which participation via the KLAP token and otherwise is entirely at your own risk.

Information contained in this announcement should not be relied upon at any time as advice to buy or sell or hold the aforementioned governance tokens and particular note should be made as referenced prior to the solely governance based nature of the $KLAP token and their lack of intrinsic ownership or economic value. This announcement does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Klap Finance and its associated parties as appropriate make no representation or warranties, expressed or implied, as to the accuracy of such information and Klap Finance expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Klap Finance reserves the right to amend or replace the information contained herein, in part or in entirety, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this announcement supersedes any prior representation, post or conversation whether informal or formal, concerning the same, similar or related information.