Drops 24: Megaton Finance — ‘oMEGA’

KLAYswap

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KLAYswap

4 min readFeb 10, 2023

Drops 24: Megaton Finance — ‘oMEGA’

Hello! KLAYswap Community!

Today, we are very excited to introduce the 24th KLAYswapDrops event to KLAYswap users — Megaton Finance’s “oMEGA”!

Drops ‘oMEGA’ Summary

Stake KSP tokens to earn $oMEGA tokens!

Total Amount: 100,000 oMEGA
Snapshot Duration: Feb 14th ~ Feb 20th, 2023
Claim Date: After 09:00 a.m (UTC+9), Mar 16th

*oMEGA Claim Date Change : After Feb 23rd, 2023 -> Mar 16th, 2023

2. Combination of KLAYswap and Megaton Finance ecosystem through ‘oMEGA’ Token Drops

TON-based Megaton Finance distributes a portion of the initial ‘MEGA’ circulation from KLAYswap Drops. Megaton Finance quickly secures new users and liquidity by distributing initial ‘MEGA’ tokens to vKSP holders with extensive experience using DeFi. Also, vKSP holders can obtain opportunities for substantial yield farming.

Both KLAYswap and Megaton Finance users can easily supply liquidity across both protocols through the Orbit Bridge. In addition, governance tokens (MEGA*, KSP) acquired from each protocol can be used to obtain additional revenue through liquidity supply. This Drops will promote the interconnection of KLAYswap and Megaton Finance ecosystems and ultimately play an essential role in the growth of both protocols by building a multi-chain token economy.

*The governance utility will be added to MEGA later

3. Benefits that KLAYswap holders will get

In ‘KLAYswap’s NEW Roadmap’ issued in early March 2022, the benefits for vKSP holders from KLAYswap, an autonomous financial protocol, advancing to multi-chain, were delivered in detail. In brief, by entering a new frontier chain, TON chain users will flow into KLAYswap, and the protocol’s transaction volume and asset liquidity will expand as new users increase. The increase in users and liquidity leads to the growth of KLAYswap TVL and the ecosystem, which affects the KSP price that vKSP holders receive as rewards.

Next, vKSP holders can be the first to receive the initial amount of Megaton Finance’s governance token ‘MEGA’, so they can get explosive yield farming opportunities within Megaton Finance and have a significant impact on Megaton Finance governance. Even after the initial amount is distributed, a portion of MEGA inflation is continuously distributed to vKSP holders, so you can continue to earn profits. You will also be available to use the distributed oMEGA in various DAPPs within the TON.

Finally, there is an extension of governance token utility. Governance tokens of KLAYswap and Megaton Finance can enter the mutual ecosystem and acquire new financial opportunities. As each governance token actively moves into each other’s ecosystem, the demand for KSP and MEGA rises together, which can positively affect the token value increase.

4. What is ‘MEGA’ of Megaton Finance?

Megaton Finance is the first autonomous financial protocol within the TON network that provides yield farming opportunities such as swaps and pair deposits. Megaton Finance has a structure that combines the AMM (Automated Market Maker) DEX business model prevalent in the DeFi ecosystem, the scalable multi-chain economy, and the unique characteristics of the TON network.

MEGA is a governance token that maintains the ecosystem of Megaton Finance, and the initial quantity issued through inflation is provided to LP (Liquidity Provider). When the staking function is added to Megaton Finance, MEGA staking participants will receive MEGA as a reward. Total supply of MEGA is 100,000,000 MEGA. Community LP is 54,000,000 MEGA(54% of the total supply) and has a halving period(every 4 years).

5. oMEGA airdrop period and amount distributed at KLAYswap Drop

The oMEGA airdrop will be held for 7 days from Feb 14th to Feb 20th. The total amount of oMEGA airdrops from KLAYswap Drops is 100,000 oMEGA. The amount of airdrop obtained by the user is calculated based on the snapshot of the amount of vKSP held after KSP staking. Claims can be made from Feb 23rd, the day after the end of the airdrop. Please note that the date of oMEGA claim is Mar 16th 9:00 am (KST), not Feb 20th when the snapshot ends.

*oMEGA Claim Date Change : After Feb 23rd, 2023 -> Mar 16th, 2023

6. How to participate in Drops

Users participating in KSP staking are automatically eligible for airdrops for new projects supported by Drops. The airdrop quantity will be distributed based on the snapshot of the user’s vKSP quantity after KSP staking, and the snapshot will be held once a day at 9:00 am (KST). To receive the airdrop, you must have staked KSP before the snapshot and obtained vKSP.

View our guide on how to stake KSP

7. Token Distribution

(1) Total issuance: 100,000,000 MEGA

Community LP 54%
Developer 16%
Investor 7%
Advisory 5%
Marketing 5%
Partnership 5%
Liquidity 4%
Reserve 3%
Initial Supply 1%

(2) Initial Supply: 1,000,000 MEGA

To build the initial Megaton Finance ecosystem, 1,000,000 MEGA (1% of total supply) will be utilized for marketing, MEGA LP incentives, and Tonstarter.

Megaton Finance will create a stable trading environment by securing potential users and liquidity on the TON network through the events using initial supply.

(3) Halving