Klap Finance KLAP + KLAY Pre-Mining Program
Gm again Klappers,
Overview
Today is the day! We have worked tirelessly in the background to get everything ready for mainnet launch, and we can’t wait for everyone to get involved once it’s up and running. We wanted to do more to give back to our earliest adopters and fans, so…
This is a good opportunity to also announce our pre-mining program. Users can earn KLAP and KLAY by following the steps in this article — which will incentivize early liquidity in the system. This will serve an important role in KLAP cementing itself as Klaytn’s liquidity hub.
Bridging to Klaytn
As announced yesterday, we partnered with Synapse and will be supporting Synapse wrapped assets in our markets. Synapse will be airdropping KLAY to everyone that bridges to Klaytn. To bridge to Klaytn go to:
Select an asset (USDC, WBTC, USDT, WETH) and enter the amount to bridge in the UI. Ensure that the “To” chain is Klaytn.
Click Approve token and approve the transaction in your Metamask / desktop wallet. After approving your asset for bridging, click “Bridge Token”.
After bridging your transaction will appear at the bottom of the screen until it’s approved. It will take several minutes for the asset to appear in your Klaytn chain account.
KLAP Pre-Mining Program
The Pre-Mining program exists to reward loyal and early participants of KLAP! All you have to do is use the KLAP protocol once it goes live today, as written below.
Deposit your assets into the Klap protocol as per our tutorials:
- For depositing: docs.klap.finance/tutorials/depositing
- For borrowing: docs.klap.finance/tutorials/borrowing
We will be emitting an amount of KLAP and KLAY token rewards for participants in pre mining (users who lend and/or borrow on Klap). Rewards will be time and amount weighted. This means that your KLAP + KLAY reward will be proportional to how much TVL you contribute to the system and the length of time it stays in the system to boost user activity. Pre Mining will start immediately after protocol launch and will likely continue for 3–4 weeks. The KLAP token will launch soon, after which KLAP and KLAY rewards will be distributed.
Synapse/Orbit Asset Migration
We will be supporting only Synapse wrapped bridge assets in Klap, so to facilitate this transition we have set up a stableswap pool between syn and orbit stable assets. Using this — swap your orbit tokens to synapse wrapped assets with extremely minimal slippage and deposit them into the Klap protocol. The stableswap pool link will be posted here and on our Discord + Twitter in a few hours.
Conclusion
Again, we can’t thank you enough for the early support. This is only the beginning.
Never stop KLAPPING 👏
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.
This communication is not for distribution to U.S. newswire or similar services or for any dissemination in the United States. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, KLAP Tokens to any U.S. person (including, without limitation, any citizen or resident of the United States) or in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the laws of any such jurisdiction.
