Kebab Finance: A New Governance Token and Deflationary Mechanisms on the Horizon

Burn mechanisms are used by projects to help reduce token inflation and bring value to users. Kebab Finance has brought about a unique burn mechanism targeted to improve the token value and promote more stability.

By
Wilfred Victor
on
April 27, 2021
Category:
BSC News


What is Kebab Finance?

Kebab Finance is the strategic superior yield farming community on the Binance Smart Chain. Unlike the typical DeFi based Automated Market Maker (AMM) platforms forked from PancakeSwap, Kebab offers a unique staking model in addition to swapping and farming features. Kebab Finance's mission is to provide innovative features for Binance Smart Chain.


Kebab Finance Homepage


A governance structure that brings the platform developments and decisions into the community’s hands and the latest unique deflationary burn mechanism are two anticipated features. These developments aim to improve the protocol, support long-term value growth and maintain price stability.


Key Features

  • Yield Farming
  • Staking
  • Automated Market Maker (Swap)
  • Governance
  • Deflationary


Project Components

Automated Market Maker (Decentralized Exchange)

Swap across different BSC-based tokens in real-time on the Swap platform. Connect, unlock your wallet, and make use of the swap and liquidity features available to facilitate automated swap actions as well as Liquidity Provision (LP) for listed pairs.



Kebab Automated Market Maker (AMM)



Yield Farming

Stake your LP tokens to earn KEBAB.

The pool features various tokens, including stable coins and top coins in the crypto market. These liquidity pools are incentivized using KEBAB tokens, and APYs are listed for each LP. The platform allows you to stake  KEBAB to earn BTCB, BNB in addition to ETH, which will be added in a future update.


Single Staking

The platform also integrates a single staking mechanism, allowing users to earn new tokens by staking KEBAB.


Kebab Single Staking


Stake KEBAB and earn more KEBAB, BTCB, BNB, and more pools to be listed in the future.


Platform Updates

The recently released Medium post highlights the planned and nearly completed milestones concerning product development. The platform will have a revamped revenue-sharing mechanism with an innovative deflationary burn mechanism for the KEBAB tokens, a new Governance page, additional yielding farms, unique pools, and an IFO page. 

Kebab Deflationary


New Dashboard and Dedicated IFO page

Kebab has implemented a new dashboard and an Initial Farm Offering (IFO) page.


Kebab new IFO page


The IFO allows projects to launch with Kebabswap and bring their token directly to the most active and rapidly growing community on the BSC Network.This is in line with the team's vision to deliver on their commitment to building new features and bringing value to the users and Binance Smart Chain.
Also included is the planned charting tool by which the users will track their investments in terms of token history and available LP worth. All of the details mentioned above are available in their recent Medium post.


The burn process will be pretty straightforward. Users will connect their wallets to the platform and use the burn button to receive X tokens. The community took part in the X Token Burn Contest, and the new token name will be announced on the day the burn mechanism is implemented. 


The burning mechanism will be deflationary, making Kebab Finance the first to use this approach. At the start of the burn event, the efficiency will be at 100%; at the later periods, the efficiency will keep reducing by 0.01%.



Here is what it means. For instance, if you swap Kebab to X 1:1 on the first day, the redemption rate will be 1:0.99 on the following day. It is forever deflationary. This is done to attract users to take advantage of their tokens’ burn mechanism on the first day as it will attract a higher burn ratio compared to subsequent burns. The only way to receive this token is by burning Kebab or buying from yield farmers through the market. And if the APY doesn’t stabilize, there would always be new members to burn their Kebab to join the new farming pools.


Governance

The new X tokens, which will be issued in exchange for the burned tokens, will have governance utilities. The token holders will participate in community decisions to influence the project’s operational choice and developments. At the start of governance, the project will utilize a snapshot tool; the complete governance tool will be integrated into the app interface later.


Additional Yield and Special Pools

Additional Yield to the X tokens and unique pools with higher participation amounts is planned for the next update. The minimum threshold to participate is 500 X tokens. However, this will be based on community decisions through governance votes.


On the patch day, there will be a new staking pool for X tokens, and you will be able to farm X tokens by participating in new farming pairs and pools. Governance ability and a fully dedicated IFO page and Dashboard will become simultaneously functional.


CertiK Audit

Giving exact timelines for development will add unnecessary pressure on the team. The team is working efficiently with Certik, a top audit firm in the crypto space. This approach further improves the security of the protocol.


Roadmap

Open roadmap plan documented on the Medium post is tiered into;

  • Short Term
  • Medium Term
  • High Priority


Dashboard (Short Term): The team plans to integrate a dashboard to allow users the flexibility to track their investment profit, liquidity pools, and the number of fees generated on their part — an improved UI to monitor your investment quickly and easily. 


Burn Mechanism( High Priority): Already in place with the new deflationary burn mechanism that swaps old KEBAB to new coins. Focus on IFO as a primary burning mechanism. The team shortly considered the lotto and bingo options but concluded the value provided by that kind of burn is relatively insignificant.


IPFS Domains(Short Term): The platform is going to be fully decentralized soon. Plans are underway to move the domains to IPFS structure, including the swap, info, and the main page. The team regards this as a good leap forward in terms of decentralization.


Charts And Trading History For Kebab Swap (Medium Term): Build a detailed chart similar to dextools.io for Ethereum. Kebab aims to present features, including the entire trading history of an asset. The goal here is to display information that helps users make informed decisions during swaps. In other words, live data to highlight key indicators.


Yield Farm Generator (experimental): Kebab is looking to include a feature that allows users to create their yield farms under Kebab Finance protocol. This will be another addition of the Burning Mechanism. Keep in mind that this feature is still experimental and is likely to be realized.


Self-listing Feature (Short term): The protocol plans to integrate an automated listing feature for farming pairs and pools within Binance Smart Chain Ecosystem (BSC). The new feature will include a predetermined multiplier and a Burning Mechanism.


Governance: Actively integrated into the new Token X to give users voting abilities and community decisions.


Final Thoughts

Introducing an innovative burn mechanism that rewards users with a new token embedded with exciting features and functions will keep users attracted to the project.


The governance feature will give holders the power to make important platform update decisions and make the project a community-driven one. Further, the team continues to introduce innovation on the front of token burns, driving further value to Kebab users.


Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.


For those who wish to learn more about Kebab Finance, check out the following resources and media pages:

Website

Twitter 

Medium

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.