Kokonut Swap Launching Timeline

Hello i4i Community!

i4i Finance will be rebranding as Kokonut Swap on 6/8. In the following three weeks, four events will take place for the community and in this post, we will briefly go over each event.

Welcome Airdrop

Event Period: 6/8 ~ 6/21

Rewards to be distributed: 37,500 KOKOS (First 2,500 addresses, 15 KOKOS each)

The first in line is the Welcome Airdrop Event. This event is for members of the existing Klaytn DeFi ecosystem, more specifically, users who own or stake a certain amount of governance tokens of other Klaytn-based DeFi protocols. Eligible addresses(that will be announced as the event period begins) can claim airdrops by executing their first trade (volumes as small as 1 KLAY is fine) in Kokonut Swap during the event period.

The list of tokens eligible for the airdrop is as follows, and if you owned a certain amount of tokens in your wallet at the snapshot period, they may be included in the airdrop whitelist. The snapshot period is block #91,638,946(meaning it has already taken place as of this announcement moment to prevent the unnecessary addresses created specifically for the airdrop).

Tokens eligible for the event: SCNR, KSP, vKSP, CLA, CLS, KLEVA, KOKOA, sKOKOA, HOUSE, VIPS, KBT, sKBT, KROME, EKL, KFI, BTRY, KORN, KRNO, sKRNO, wsKRNO.

(*Staking pools such as vKSP, CLS, and sKOKOA that are already in their tokenized form(making staker identification much easier) have been included in the snapshot, but not other staking pools that are hard to identify.)

Migrate2Earn (M2E)

Event Period: 6/8 ~ 6/14 (Migration Period), 6/15 ~ 6/21 (Private Farming Period)

Reward to be distributed: 300,000 KOKOS (Migration Period) + 170,000 KOKOS (Private Farming Period)

We present to you the LP Migration Event (Migrate2Earn, M2E), the second and the biggest event of the four. This event was organized to bootstrap liquidity for the 8 initial crypto pools that will be launched following Kokonut Swap Rebranding. Current KLAYSwap liquidity providers can migrate liquidity and receive additional KOKOS rewards on top of the KSP rewards that they were receiving.

Crypto pools do not require large liquidity like normal CPMMs because they are highly liquidity-efficient. Therefore, the Migration Event will be conducted on a first-come, first-served basis based on the amount of target liquidity set for each pool. For example, if the target liquidity of a particular pool is $1,000,000, and the target is satisfied, then no more LP will be able to participate in the event beyond the target.

The Migration Event can be divided into two separate periods: Migration Period and Private Farming Period, 7 days each. Users can migrate KLAYSwap LP tokens for each pool on a first-come, first-served basis during the migration period. After the migration period is over, the LP tokens will be converted to crypto pool LP tokens, and KOKOS will be mined exclusively during the ensuing private farming period.

No more additional deposits will be allowed during the private farming period, so users who wish to mine KOKOS during this period must participate in the migration ahead of time. As a note, the KSP reward generated from the LP tokens deposited during the migration period can be fully claimed by the user, so there will be no opportunity costs for all participants.

Migration airdrop rewards can be claimed at once after the M2E event. In addition, since Instant Unstake will be open even after M2E participation, users can respond to urgent market circumstances(such as sharp declines) by withdrawing their LP. However, when an immediate withdrawal is executed, the airdrop reward allocated will be recovered.

The pools to be migrated are as follows, and among them, USDT-based pools are converted to KSD (without slippage) according to the market exchange rate through Kokoa Finance’s PSM (Price Stability Module) function and then repaired as KSD-based crypto pools. For example, the KLAY-oUSDT pool will be converted to the KLAY-KSD pair and migrated afterward.

Pools Eligible for Migration(from KlaySwap) KLAY-WEMIX, KLAY-KSP, KLAY-oXRP, KLAY-oETH, KLAY-oUSDT, ETH-oUSDT, oXRP-oUSDT, KSP-oUSDT

Trade2Earn (T2E)

Event Period: 6/15 ~ 6/28

Rewards to be distributed: 300,000 KOKOS

The third event is Trade Mining (Trade2Earn, T2E). To promote more asset swaps on Kokonut Swap, the protocol will reimburse 120% of the transaction fee spent by users as sKOKOS during the two weeks following migration completion. Through this event, many participants in the Klaytn DeFi ecosystem will experience with their own hands the efficiency of Stable Swaps and Crypto Pools.

The rewards are distributed linearly in block units to the reward pool during the event period, and when a swap transaction occurs (as long as the reward pool isn’t depleted), sKOKOS equivalent to 120% of the fees already paid will be rewarded.

However, since the main purpose of this event lies in promoting Kokonut Swap’s brand as a general-purpose DEX platform, indirect swaps through external DEX aggregators will not be included in the rewards. Only swaps occurring through Kokonut Swap website or through direct interaction with the Kokonut Swap contract on the Wallet (EOA) without going through a third-party contract will be eligible for rewards in the T2E Event.

KOKOS Trading Event

Event Period: 6/8 ~ 6/28

Rewards to be distributed: 20,000 KSD + 10,000 KOKOS

The fourth event is the KOKOS Trading Volume Event. In this event, ‘Trading Score’ is defined as the net daily KOKOS purchase amount(counted every day at 9 AM KST) and the rewards will be paid to the top 3 users with the highest total trading scores. As an example, assuming that the event period is 3 days in total, the trading score of a user who bought 100 KOKOS on the first day, sold 50 KOKOS on the second day, and bought 70 KOKOS on the third day would be 100 + 0 + 70 = 170 points.

In the trading volume event, 9 AM to 24 AM (KST) is defined as ‘Trading Time’, and 24 AM to 9 AM is defined as ‘Break Time’. Daily net purchase counts only trades that occurred during the trading time and not during break time. However, if a net sale occurs during the break time, it is deducted from the net purchase amount of the previous trading time. For example, if you bought 100 KOKOS on the first trading day and sold 50 KOKOS on the break time, your trading score for that day would be 100–50 = 50 points. However, even if you had a net purchase of 100 KOKOS during the trading time with an additional net purchase of 50 KOKOS made during the break time, the trading score on this day is 100 + 0 = 100 points(not counting the one during the break time).

Through KOKOS trading volume events, we want to expand the coconut swap community and increase the value of governance holders.

Recap

As mentioned in the previous announcement, Kokonut Swap will be reborn as an optimal decentralized exchange(DEX) platform for the Klaytn DeFi ecosystem based on crypto pools and Kokoa Stable Dollar. Lastly, prior to the rebranding launch, a community AMA event regarding the new launch will be held on June 4. Feel free to participate in the first community AMA!

Website: https://kokonutswap.finance

Telegram (KR): https://t.me/KokonutSwap_kr

Telegram (Global): https://t.me/KokonutSwap_global

Twitter: https://twitter.com/kokonutswap

Medium: https://medium.com/i4i-finance