An evolution of Sushiswap Farm with Kswap (OKF) tokenomics……….
<……….…World First OKB Token based Farm {ETH Chain}……………..>
⚠️ We are a team of individuals not from official OKEX exchange. But we are well wishers of OKEx exchange and its community.
📈 Origin
Why developed Kswap OKF FARM? : When DeFi is in peaks OKEx exchange down due to withdrawal problem and due to that reason no DeFi project uses OKB Tokens in farms and other DeFi’s. So we feel bad about OKEx community who like join Defi at that time then i got this Kswap OKF FARM idea to provide one DeFi project mainly dedicated OKEx community users.
In the two years since its launch, 🦄 Uniswap has solidified its position as one of the mainstays in DeFi. Along with that, their protocol design has become a standard in and of itself, one in which many projects have come to derive its mechanics from.
With that, we have designed Kswap OKF Farm as the next step forward in the Sushiswap protocol design: an evolution. Taking Sushiswap’s elegant core design, we’ve added community-oriented features that we believe help improve the design of the protocol, as well as provide further benefits to the actors involved.
🎨 Protocol Design
💧 Liquidity Provider Incentives
With Uniswap, liquidity providers only earn the pool’s trading fees when they are actively providing said liquidity. With Kswap OKF FARM, one can also provide some liquidity into a pool and earn rewards in the form of OKF tokens and trading fees in uniswap.
The earnings that you’ll receive from staking will be proportional to the amount of LP tokens you have staked versus the total amount of LP tokens staked. Unless you continue to provide liquidity, your holdings and corresponding reward earnings will gradually be diluted.
To incentivize early farmers and adopters of the protocol and to help in The Liquidity, initial liquidity providers get 10x.
👨🌾 Token Distribution
We are aware that many of us are existing liquidity providers in Uniswap pools. With that, we have designed the token distribution mechanics to make it as easy as possible for the existing Uniswap liquidity providers to start migrating to our protocol!
To start providing liquidity and earning OKF tokens, anyone holding Uniswap LP tokens can stake those LP tokens into the corresponding initial list of pools. Once done, they will start earning tokens once rewards starts on block 11830000. The list of eligible LP tokens can be added per on-chain governance. So it’s every one of us who decides. Total tokens will be 120M.
At every block, 50 OKF tokens will be created. These tokens will be equally distributed to the stakers of each of the supported pools.
However, For the first 10000 blocks , the amount of OKF tokens produced will be 10x, resulting in 500 OKF tokens being minted per block. This is to incentivize early farmers and adopters of the protocol and to help in The Liquidity.
The initial set of available pools: OKF/OKB , OKF/WETH , OKB/ETH etc. some of few added after farm starts and other defi projects pools added by community vote.
The OKF/OKB , OKF/WETH pool gets twice the amount, so be sure to supply your OKF to uniswap to become eligible for extra yumminess 😋. Once the OKF is live, community can vote to add more eligible pools, or change the OKF weight of any pool. You guys decide!
Farm Start Block: 11830000
Initial Tokens: 0
Max Total Tokens: 120M
Reward per block : 50 OKF
Initial 10X reward for first 10000 Blocks.
💸 Reward Distribution
With the current Uniswap configuration, 0.3% of all trading fees in any pool are proportionately distributed to the pool’s liquidity providers. In OKExFarm users get OKF tokens as reward for staking LP’s. Initial 10X reward for first 10000 Blocks.
🕑 Ensuring Project Sustainability (aka. Dev Fund)
Let’s ensure the long-term viability and sustainability of the project. Following suggestion from Dev Team, 10% of every OKF distribution is set aside for developers. Hope the community won’t mind feeding us some ✤ (OKF) dinners.
Dev : we don’t want to hide ourself like other DeFi’s we want this project to very transparent. Idea and dev project by Ashok and other two guys Shehzad and Sheryar helped on dev tech part.
✤ Protocol Usage
At the protocol and smart contract level, Kswap OKF FARM shares an identical interface to Sushiswap. We will work with various DeFi and other ecosystem tools to start integrating Kswap OKF FARM.
🔐 Security Audit
Security is important to us. We reasonably unit test coverage and have tested that everything works on the testnet.
We invite Trail of Bits, PeckShield, OpenZeppelin, Consensys, Certik, and Quantstamp and more to audit the contracts. First firm to confirm audit of Kswap OKF Farm on its official Twitter account will win this job.
The contracts you’ll be auditing will be everything in the OKF FARM smart contract repository, which is available at https://github.com/okexfarm/okexfarm and is already considered ready for the audit.
⚠️ Meanwhile, The MasterChef contract for farming is unaudited by profitional auditors but audited by our team, but it’s simple enough for most Solidity developers to understand. Please read through the contract before putting your LP tokens at stake! Everything is in BETA, please use at your own risk.
💻 Smart Contracts
The contracts are available at https://github.com/okexfarm/okexfarm. Some codes are from other projects including Sushiswap/Uniswap / Yam / Compound / OpenZeppelin and are subjected to their licenses. The followings are the list of the contracts with rough explanation:
✤ OKF Token: The token contract, with COMP/YAM voting functionality.
👨🏻🍳 MasterChef: Deposit LPs tokens to farm OKF.
🍸 OKFBar: Stake OKFto earn more OKF📈
✤ TESTNET
OKF Token 0x71b8a561de89102fd2e866c7598d5f958f262a88
MasterChef 0xB7fD921e15904645Bc7f5308f3e6a843080928B3
OKFBar 0xaf7600DF103A2E1C2a707E233Bd2A51Ad63c12f6
✤ Mainnet
OKF Token 0xB7fD921e15904645Bc7f5308f3e6a843080928B3
MasterChef 0xaf7600DF103A2E1C2a707E233Bd2A51Ad63c12f6
OKFBar 0xcf6cCC6a81138069a36C3A604595e8cFA617fd2c
All contracts written by us should have somewhat reasonable test coverage. We will continue to do more testing. If any of you think there’s any issue with it, please let us know (preferably privately if it’s a severe issue) via Discord.
🏁 How You Can Participate
You can start depositing LP tokens to the MasterChef contract using the interface at https://kswap.net📈 Origin
In the two years since its launch, 🦄 Uniswap has solidified its position as one of the mainstays in DeFi. Along with that, their protocol design has become a standard in and of itself, one in which many projects have come to derive its mechanics from.
With that, we have designed Kswap OKF FARM as the next step forward in the Sushiswap protocol design: an evolution. Taking Sushiswap’s elegant core design, we’ve added community-oriented features that we believe help improve the design of the protocol, as well as provide further benefits to the actors involved.
💬 Join Us!
All starts with 0 hoping big support from DeFi lovers….
- Join discussion in our Discord at https://discord.gg/QvC7ArF7rd
- Don’t miss any update by following our twitter at https://twitter.com/kswap_net
- Medium: https://medium.com/@kswap
- Telegram: https://t.me/kswap_net
- Website: https://kswap.net
