A snapshot of all wallets and REVA token holdings on both FTM and BSC was taken on August 1, 2024. This snapshot also recorded the prevailing market price of REVA tokens, which was $0.0289335 at the time. For simplicity, we have rounded this price up to $0.03.
Spreadsheet Summary Report: You can find the spreadsheet summarizing all wallet holdings here. Please search for your wallet address and ensure that all column totals are correct. If you notice any discrepancies in your REVA balances compared to the snapshot date, report them using this form.
Even if your balance appears to be correct, we kindly ask that you still complete the form. This will help us gather valuable data on community engagement and the effectiveness of our communication efforts.
How Much KRA Will I Receive? The process for determining your KRA allocation has been simplified from the one described in this article. We will no longer be basing rewards on which pool you staked in, but the net effect is the same.
In the last column of the snapshot sheet, you will find a dollar value of your REVA holdings as of the snapshot date.
Claiming Pool Details:
- The claiming pool will run for 180 days from the IDO date.
- The initial purchase price of KRA tokens from the claiming pool is $0.75.
- Your token migration balance will start at 107% of the total KRA purchased, due to an initial bonus.
- The pool will compound at a daily rate of 0.45% (rounded)
- You can claim available tokens from the pool at any time after the IDO.
- Once tokens are removed, they cannot be put back into the pool.
- The longer you stake your tokens, the more KRA you will receive and the lower your effective price.
Token Migration Example: If you had $75 worth of REVA at the snapshot, you would receive 100 KRA tokens at the initial price of $0.75. On the day of the IDO, your claimable KRA balance will be shown as 107 KRA due to the 7% bonus. Each day your tokens remain in the pool, you will receive more KRA. The longer you stake, the more tokens you receive and the lower your effective purchase price. After 180 days you will have 238.96 KRA and your effective purchase price will be $0.314.
Q&A:
How do I claim my KRA tokens? The tokens will be available through the Korra Finance Mobile App, once it is released. You will need to download the app and connect the wallet that held your REVA tokens at the time of the snapshot. Your KRA tokens will appear in the claiming portal on the app.
Is there an expiration date for unclaimed tokens? The claiming pool will remain open for one year after the 180-day period ends. Any tokens unclaimed after this one-year grace period will be subject to a decision by the DAO regarding their treatment.
What are Columns G-I on the Snapshot Spreadsheet? These balances are retrospective rewards distributed to DAO members as per this proposal.
Are REVA holders getting a better deal than buying at presale? Presale tokens start at $0.50 per token and become more expensive as the presale progresses. Presale tokens have a 3-month vesting period. If your migrated KRA balance remains in the claiming pool for the same 3-month period, the effective price of your tokens would be approximately $0.468, which is cheaper than the presale price. In addition, Reva holders have the added benefit of being able to stake for another 90 days, giving them an effective price of $0.314.
Why the new calculation method? There are several reasons:
- Simplicity: The new method is easier to implement into a smart contract. This streamlines the process, reducing the potential for errors and ensuring a smoother experience for all participants.
- Flexibility: The updated approach provides REVA holders with greater flexibility and control over their token holdings. Unlike the old process, which involved different lock periods for various pools (1x, 2x, 3x, and 4x), the new method simplifies how tokens are handled and claimed.
- Consistent Results: Despite the changes, the effective purchase prices and results of the new process align with those of the old process when factoring in the vesting periods. This means that REVA holders will receive comparable benefits, but with more flexibility and a more straightforward and user-friendly system.
If you have any further questions or need assistance, please log a fault on our Discord.
