Kalmar Finalises V2 Update, Sharing Liquidity Incentive Program Amongst Further Development

The decentralized bank Kalmar is preparing for its version 2 update, taking its features to the next level.

By
Robert D. Knight
on
June 22, 2021
Category:
BSC News

Kalmar intends to make lending and borrowing a significant focus of the upgrade and the platform moving forwards. In a recent post on Kalmar’s Medium, “Everything about the V2 update,” the company explained its plans for the future. The headline feature will be their KALM rewards which lenders and borrowers will earn when they lend or borrow BUSD or BNB tokens. 

Source

Kalm Rewards

KALM, the native token of the Kalmar platform, and has a hard cap of 10 million. The token operates under a slow emission schedule which will see 6 million KALM released over 30 years. According to CoinGecko, the current circulating supply of KALM is 2.3 million.

800,000 KALM have been earmarked as rewards for the yield farming product, while 150,000 KALM tokens are reserved as extra rewards to be allocated in the first 45 days of farming as an incentive to grow a healthy total volume locked (TVL).

Two Different Coins to Pair

BUSD side of the protocol:

Lenders:

  • 544,000 KALM tokens as rewards, released linearly over two years
  • 102,000 extra KALM tokens to be given as rewards in the first 45 days

Borrowers:

  • 136,000 KALM tokens as rewards, released linearly over a period of two years
  • 25,500 extra KALM tokens over 45 days

The BNB side of the protocol will operate under similar terms as above, but with the following token breakdown:

Lenders:

  • 96,000 KALM released linearly over a period of 2 years
  • 18,000 KALM over 45 days

Borrowers:

  • 24,000 KALM over two years
  • 4,500 KALM over 45 days

Kalmar has designed these mechanics to account for the projected TVL of each side of the protocol providing fair returns for all. KALM rewards can be vested or claimed immediately upon burn. Those who wish to claim directly will burn 50% of the tokens or vest the tokens for two months and receive 100%. Rewards will be distributed every Monday.

Source

Additional features and improvements in version two will include vaults with KALM rewards and an Automated Market Maker (AMM) aggregator. The AMM aggregator will allow users to access liquidity from multiple decentralized exchanges. Kalmar hopes to have the same versatile approach to UX as users may be accustomed to from centralized exchanges. 

Part of Kalmar’s approach to this will be introducing rewards for using their exchange.

As Kalmar describes:  “Traders these days are only taxed and rarely rewarded by the exchanges/aggregators they use. We want to change that by providing traders with rewards for trading on our platform.”

Keep Kalmar and Carry On

Besides updating their community on KALM reward mechanics, Kalmar reassured their philosophy as well as what continues to drive them. In particular, Kalmar highlighted the disconnect between short-term thinking which focuses on generating high APYs above all else, and the actual task of creating meaningful products and innovation.

“We used to see more fundamental innovation that has been made to replace the daily banking experience, bringing fair finance access to the general mass. Recently, DeFi has been losing this trend of replacement towards the short-term solutions for generating maximum yield.
Source

The next iteration of the Kalmar protocol is expected to launch in early July with a detailed roadmap of further points to be revealed simultaneously, including an NFT fundraiser.

Learn more at Kalmar: Website | Twitter | Medium | Telegram


Tags:
Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.