Kaching is Launching on VVS Launchpad (IGO)
We are excited to announce that Kaching will be launching its $KCH token through our Initial Gem Offering (IGO)! In this IGO, we incorporate a Committed $VVS Refund mechanism, which means your committed $VVS tokens in this IGO will be refunded to you after 90 days! You will be able to reclaim your committed $VVS tokens on our IGO page.
What is Kaching?
How does Kaching work?
Tokenomics
IGO offering Details
Participating In the IGO
Project Details
FAQ
What is Kaching?
Kaching is an exciting new platform built on the Cronos blockchain that aims to make DeFi less-intimidating and accessible to everyone. At its core, Kaching operates a prize-linked staking mechanism that encourages people to be savvy with their money, while providing the chance to win disproportionately large rewards.
Kaching uses various smart contracts to ensure our key tenets of transparency and equitableness are upheld in every corner. Winners are determined completely randomly on-chain and are verifiable (retrospectively, too!). Every single CRO stake has an equal chance to win rewards as the other.
There will be many developments for Kaching in the future, so we hope you can join us for the ride!
How does Kaching work?
We put the $CRO staked with us to work in our yield-bearing strategy. The yield is then collected weekly and distributed as rewards.
There are five simple steps that make up Kaching.
Staking
Users must stake $CRO (or $WCRO) into Kaching to participate. Staking your money into the contract will mint you the corresponding amount of tickets.
Prize Calculation
Our smart contracts will work its magic. First, it will determine how many picks you get for a given draw. This is based on your time-weighted contribution to the liquidity pool (as a percentage of total deposits). Next, it will calculate your outcome algorithmically.
Prize Distribution
If you are lucky enough to have won, our smart contracts will automatically allocate you the prize. You will then be able to claim it through our UI.
Continuation
Regardless of whether you have won or not, your money is not lost. Your original staked amount will continue to be put to good use and you will automatically be involved in the next lottery (and the draws after that), provided you do not unstake.
Withdrawal
In the unfortunate event you decide to withdraw your stake, you are free to do so at any time. You could very well still win in the current lottery (at a much lower chance, compared to if you did not unstake), but for the next lottery you will not be included.
Tokenomics
IGO offering Details
IGO Start Date: Thursday, Oct 12th, 2023 9AM UTC
Duration: 24 hours
Amount to Be Raised: $50,000 USD
Fully Diluted Valuation (or equivalent): $50,000,000 USD
Units offering: 10,000,000 $KCH at $0.005 USD per token
IGO Split: 100% to Basic (no Unlimited Offering)
IGO Method: Basic Offering: ‘Gem Fair’ . The method will be conducted using the Overflow Method.
Gem Fair eligibility snapshot: Taken randomly between Oct 9th — Oct 10th 2023, complete staking requirement by before Oct 8th 11:59 PM UTC.
Vesting: 30% Immediate, 70% Monthly Vesting at 10%
Investment token: $VVS
Max commitment: $100 USD worth of VVS (fully returned after 90 days of IGO end)
Max overflow: 2x
Committed $VVS refund: Your committed $VVS tokens in this IGO will be refunded to you after the 90 days. You will be able to reclaim your committed $VVS tokens on our IGO page.
Basic Offering: ‘Gem Fair’ (USD 50,000 to raise)
In the Gem Fair, each person can contribute a MAXIMUM of $100 USD equivalent of VVS tokens.
To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.
In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.
The Gem Fair eligibility snapshot will be taken randomly between Oct 9th — Oct 10th 2023. Make sure to complete the staking requirement by Oct 8th 11:59 PM UTC.
The number of tokens available in this format will account for 100% of the total amount of token offering.
In order to ensure IGO participants have a meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented in the Basic Offering. The Basic Offering pool will stop accepting further deposit commitment once the overflow reaches 2x / 200% of the amount to raise.
Do note that the final allocation you receive will still be subject to the total amount raised in this method. However, you will not be battling any whales.
What is the “Overflow” Method?
In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users. The Overflow Method is illustrated by the following examples, when a user participates in the IGO via a Gem Fair.
Participating In the IGO
Eligibility:
- Stake xVVS in VVS Finance, with varying amounts based on the different vault lockup periods before Oct 8th 11:59 PM UTC.
- VVS Miner Mole holders can bypass this xVVS locking requirement for IGO entry (holders must hold at least 1 VVS Miner Mole NFT during our eligibility snapshot. It does not matter whether the NFT is in the wallet or if it’s staked in the VVS Gotchi/Farm)
- Get VVS tokens which will be needed to purchase the $KCH token.
Complete TWO forms and submit your wallet address twice, please stay tuned to our socials for any updates.
*Kaching campaign winners can bypass the Gleam form, Jotform and the xVVS locking requirement.
Before the IGO:
- Get some VVS tokens and stake them for xVVS.
- Ensure you have the required amount of xVVS staked in a Vault prior to the IGO. xVVS has to be staked before the snapshot is taken in order to be eligible, please refer to the above snapshot time and amount required (Required for the basic method ‘Gem Fair’).
- Miner Mole Holders can bypass the xVVS locking requirement, but they will still have to complete the two forms to be eligible in the IGO.
- Arm yourself with VVS tokens, this will be your currency to purchase $KCH.
*You can report to our community manager if you were incorrectly missed in the whitelist by Oct 11th 9AM UTC.
VVS Finance reserves the rights to exclude at our own discretion any suspicious wallets or past known bot wallets.
During the IGO:
Commit VVS tokens: commit your purchase intention by staking VVS tokens in the IGO smart contract.
After the IGO:
- 30% of your $KCH tokens will be immediately claimable once IGO is completed.
- The remaining 70% of tokens will vest monthly over 7 months (10% per month)
- Your allocation of $KCH tokens is calculated based on the overflow.
- Any unused VVS tokens will be returned to you automatically upon claiming your $KCH tokens.
- Your committed $VVS tokens in this IGO will be refunded to you after the 90 days. You will be able to reclaim your committed $VVS tokens on our IGO page.
Post-IGO economics
Crystal Farms on VVS:
- VVS — KCH farm; Further details to be released
- KCH Glitter mine; Further details to be released
What’s to come
Vaults — Deposit $xKCH tokens to earn $KCH rewards through Kaching’s yield generating strategies.
Base Yield — Earn $KCH rewards for staking $CRO in Kaching’s liquidity pool(s).
Revenue Sharing — Earn a portion of Kaching’s proceeds for supporting the platform. More details can be found at https://docs.kaching.win
Additional Strategies — Developing new $CRO-based strategies for users to pick from
Lottery-as-a-service — Kaching provides services to help partners launch their own Kaching-linked lotteries.
Accounts Management — An intuitive dashboard to visualize and manage wallet balances, staking positions, and other Kaching accounts.
Further Explorative Features — Kaching plans to explore new features such as a collective prize pool mechanism that supports diverse yield generating strategies
Project Details
Project: Kaching ($KCH)
Website: https://kaching.win/
Contract Address: Details to be released
Social media:
- Discord: https://discord.gg/xenaSXZZ5n
- Twitter: https://twitter.com/kachingwin
- Documentation: https://docs.kaching.win/
FAQ
1) What is the overflow model*?
In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users.
2) How are VVS users eligible for the $KCH IGO?
VVS users are required to stake xVVS in Vaults, meet the staking requirements prior to the IGO to participate.
3) What is the max overflow cap for?
Max overflow is an optional feature if the project team wants to ensure an equitable size for pool participants. After the max overflow amount is hit, no additional users can commit further funds.
4) Any vesting/restriction on the funds raised?
We don’t impose vesting or restrictions, project owners can dissolve the LP, and utilize funds at their discretion.
5) Can we launch a Crystal Farm/Glitter Mine on your platform?
To incentive users to add further liquidity to your pool, we can launch a farm pair with your token. Generally, the IGO project owners sponsor an equivalent amount of token in a Glitter Mine for VVS users to earn your token.
6) How about co-marketing?
IGO is a deep partnership. Our team will be fully committed to promoting your project to our user base and launching co-marketing initiatives.
Disclaimer — All projects are subject to both high market risk and volatility. We ask that you do your own research and full due diligence before investing your funds in any project. VVS Finance will not be held responsible for any investment losses.
Additionally, persons located in or residents of the following list or any other jurisdiction in which it is prohibited from using any of the services offered on the VVS Finance website, including IGO, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services.
You may find the full list of “Prohibited Jurisdictions” and Usage Disclaimer here.
