KingDeFi Weekly Development Update — 17
Welcome to week seventeen of KingDeFi’s regular feature article, in which the team provides development updates for the benefit of our beloved Knights. We hope you all enjoy the series and get a lot from it as well.
Week ending 22/10/2021
The past week had great news and additions.
The main things were:
- Launch of Multi-Asset Yield Optimiser
- Continuous Compounding Vaults released
- First KRW Burning Event
🚀 Launch of Multi-Asset Yield Optimiser
Thanks to the community for your support and great patience! After many tests and audits by our dev team, we finally launched our Multi-Asset Yield Optimiser!
To learn more about how it works, please refer to this article.
1️⃣ Buyback & Burn KROWN: 2% of the performance generated by the continuous compounding; we believe that this feature will significantly reduce inflation.
2️⃣ Automatic LP: we will make it easier for all farmers to invest in LP. For the farmer it will be enough to deposit one of the two LP tokens: we’ll take care of the rest!
3️⃣ Deposit & Withdraw in BUSD: we will allow you to invest in the LP directly from the stablecoin BUSD. Of course it will also be possible to withdraw in BUSD. A true one-click operation, amazing! Our smart contact will take care of everything.
4️⃣ Deposit & Withdraw in tokens: if you prefer to deposit/receive one of the two LP tokens instead of BUSD, we will make this possible too!
5️⃣ KROWN Boost: If you realise that you want to invest a part of the LP in KROWN tokens, there will be a one-click-solution that will allow you to do so. Again, you don’t have to waste any more time by divesting from the LP, converting to get the initial 2 tokens, then swapping one of the two, and finally buying KROWN. Our smart contract will take care of everything for you.
🔄 Continuous Compounding Vaults released
This week we released following LPs:
$BUSD— $BNB: 40% 🚀
$XVS— $BNB: 18% 🛰
$BTCB — $BUSD: 23% 💫
$CAKE — $BNB: 41% ✨
Got BUSD? Simply deposit in one of our LPs to start earning!
First KRW Burning Event
To celebrate the launch of the Buyback & Burn mechanism we burned 50,000,000 KRW!
The team will continue to add new LPs and make new partnerships. We believe that proposing our autocompounding technology is very interesting for all projects that do not offer it! Stay tuned!
The team also really values our community and always love to hear your opinions and feedback. We look forward to hearing more from you all in the great discussion going on with our awesome mods in the community chat.