Valkyrie Protocol is Now Live!

4 min readOct 13, 2021

Valkyrie — the Dapp Activation Protocol

Valkyrie Protocol is a Dapp activation protocol designed to help protocols launch effectively. Protocols can create campaigns offering social referral rewards. Users can participate in the project and be exposed to new projects and be incentivized to experiment and also refer the campaigns to others.

Valkyrie allows any user to design a ‘campaign’ with a specific target goal and disseminate pre-allocated rewards to users depending on their level of participation. This ‘rewardable ecosystem’ consists of campaign creators, who have an objective to increase usership of their project on the Terra network, campaign participants, who participate in the campaign and share content to other users, and campaign referrers, who spread the campaign content to new users. Valkyrie provides a generalized framework empowering individual teams to apply it to their specific campaign needs.

Valkyrie Web App: https://app.valkyrieprotocol.com

Valkyrie’s Value Proposition

Unlike typical referral programs, Valkyrie provides a robust methodology to encourage participation by granting rewards to not only participants in the campaign but also to those who induce further participation through content sharing. Valkyrie’s unique characteristics:

Increased participation through sharing with an incentivized structure between sharers and participants
On-chain targeted marketing through definable eligibility criteria (wallet criteria, etc.)

Matching incentives between creators and consumers from the get-go, Valkyrie is a fully customizable tool allowing users to define action-based campaigns to achieve their marketing goals. In addition, developers are able to interact with the protocol with just a few lines of code.

Investors in Valkyrie Protocol

Valkyrie is backed by a stellar line-up of investors backing our vision of the “Share2Earn” model, including Hashed, Arrington XRP Capital, Struck Capital, Vwynn Capital, A41 Ventures, and Skynet Ventures, among others.

The Valkyrie Token

The Valkyrie Token (VKR) is the protocol’s native governance token. By staking $VKR tokens in governance, users are able to start new proposals or vote in on-going polls. $VKR is designed to linearly capture a portion of the protocol’s fees and provide additional incentives for both campaigner producers as well as participants.

In addition, $VKR stakers receive rewards allocated to the Governance Distribution schedule as well as a portion of the fees charged by the protocol pro-rata to their stake. $VKR is further utilized when creating a new campaign and distributed as rewards from the support Program. A campaign creator will be required to pay an upfront fee in the form of VKR when first creating a campaign.

The $VKR token initially launched on Pylon Gateway on October 7, 2021, debuting on Pylon Swap, followed by a launch on Pylon Pools, granting $MINE stakers priority access to Valkyrie tokens.

VKR Token Distribution

A total of 350M VKR tokens are released at the genesis of Valkyrie Protocol. A total of 50M (~5%) Valkyrie tokens will be distributed to LUNA stakers based on a snapshot.

For more details on the Valkyrie token, including the token supply and final token distribution, see our official Valkyrie documentation.

Valkyrie Launch on Terraswap

As announced earlier this week, the $VKR token will be launching on Terraswap, with a starting price of $0.10. Please note that the price is NOT fixed, and is subject to market volatility. Upon the launch of the LP pool, a high number of transactions can lead to significant volatility and price fluctuation. As token prices tend to be quite volatile upon launch prior to stabilizing, please be sure to be aware of the risks associated with the swap and adjust slippage according to your appetite for risk prior to making a trade.

Access $VKR on Terraswap:
1. https://app.valkyrieprotocol.com/trade
2. https://app.terraswap.io
Token Contract address: terra1dy9kmlm4anr92e42mrkjwzyvfqwz66un00rwr5

The Valkyrie Launch Campaign

Valkyrie is marking its launch with the debut of its first referral campaign, Share2Earn. The total campaign reward pool is comprised of 500,000 $VKR, with the campaign coming to an end once the pool is depleted. The objective is simple: Participate in the VKR Event (20 $VKR), share your referral link to your friends (40 $VKR), and earn participation and additional referral/sharing rewards (10 $VKR). Sharing rewards are limited to two layers of referrals.

To participate, a user wallet must have at least 10 LUNA staked and 50 VKR deposited (which will be returned to the user after 7 days). These measures are to minimize the abuse of wallet creation and to ensure that real users are reaping the benefits of participating in the inaugural campaign.

See our campaign tutorial below:

Code Security

The security of Valkyrie Protocol is our highest priority. Our development team, alongside third-party auditors and consultants, has invested considerable effort to create a protocol that we believe is safe and dependable. All contract code and balances are publicly verifiable, and security researchers are eligible for a bug bounty for reporting undiscovered vulnerabilities.

Valkyrie Protocol smart contracts (below) have been audited by HALBORN, concluding on October 13, 2021. The results of the audit will be shortly published.

Additional details on our Bug Bounty program can be found here.

Smart Contracts

Valkyrie Protocol smart contracts are publicly available on https://github.com/valkyrieprotocol/contracts. The following is a list of smart contracts on Valkyrie accompanied by an explanation.

Campaign manager: manages the shared settings of the campaign and the fees incurred in depositing and withdrawing campaign rewards.
Campaign: manages campaign information, reward information, and participation history.
Governance: contains logic for holding polls and Valkyrie Token (VKR) staking, and allows the Valkyrie Protocol to be governed by its users in a decentralized fashion.
Community: holds the funds of the Community Pool, which can be spent through a governance poll.
Staking: contains the logic for LP Token staking and reward distribution. Staking rewards for LP stakers come from the new VKR tokens generated at each block by the Factory Contract and are split between all combined staking pools.

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