The Launch of Kalmar Leveraged Yield Farming Alongside KALM Airdrop

Kalmar just released its leverage yield farming product, alongside the announcement of the KALM airdrop. The event, which the community has awaited, launched yesterday, April 15th, at 1:00 PM UTC.

By
Wilfred Victor
on
April 16, 2021
Category:
BSC News

Leverage Yield Farming: Farm Pools and Earn With BNB

As announced by this Tweet from CryptoDiffer and the team’s released blog post, the much-anticipated leverage yield farm platform went live with the Farm Pools and a lending platform. The protocol allows users to earn interest when they send their BNB assets to the lending pool.


What is Leveraged Yield Farming?

Leveraged yield farming is yield farming combined with the ability to borrow assets, automatically reinvest, and reduce trading fees to increase the returns over time.


The Mechanics?

To understand how it works, you must understand the role of each participant.

  • BNB Lenders: These are users that provide BNB to the bank. When a lender provides BNB, they receive a proportional amount of iBNB tokens, a tradeable and interest-bearing asset representing their shares of BNB in the bank.  
  • Yield Farmers: These are users that borrow BNB from the bank. By borrowing from the bank, yield farmers can increase their positions, increasing the yield farming process’s returns up to x2.5 the APY.
  • Liquidity Providers: Like the yield farmers, these are users that also borrow BNB from the bank. They provide assets for liquidity that don’t have a farm or tokens as rewards; therefore, the LP revenue is generated only from fees.


Airdrop

The airdrop event is scheduled to hold 24hrs after the first snapshot of users who have used the platform; this includes both borrowers and lenders. This means anyone who provided assets to the bank ("Earn on BNB" section) before the snapshot will be eligible for the KALM airdrop.

The allocation for the airdrop is as follows;

  • 300,000 KALM tokens (3% of the supply) from the "Team & Partners" fund to be airdropped to the early users of the product, distributed equally among lenders and borrowers.
  • 950,000 KALM tokens (9,5% of the supply) to be distributed as rewards within the protocol, 150,000 KALM tokens being distributed in the first 45 days as a launch event, and the remaining 800,000 KALM tokens to be distributed linearly over the next two years.

Note: To qualify for the airdrop, users will have to provide BNB coins to the bank or yield farm with more than 1x leverage.


How to Become a Lender

Take the following steps to become a Lender.

Step 1: Go to the “Earn with BNB” page.

Step 2: Connect your wallet to either of the pop-out options

Step 3: Input the amount of BNB you want to supply as a lender and click on convert.

Step 4: Confirm the transaction within your wallet. After which, you’re now a lender.


About Kalmar

Kalmar leverages the blockchain to provide decentralized banking services to users to control their assets and earn up to 250% APR.

It is a decentralized bank powered by DeFi and NFT. The platform uses secure financial instruments and advanced gamification models to make banking engaging, transparent, and accessible.


Roadmap

According to the platform documentation, three core areas are embedded in the platform banking features, this includes;

  • A leveraged yield farming (already active)
  • Gaming Service (Still in the works)
  • Non-Fungible Tokens NFTs (Still in the works)

The team wants to build on the exciting growth of the NFTs industry; they hope to implement NFTs in Kalmars future banking structure.

Also, the platform will take an active role in building new connections and opportunities to cater to the ever-growing gaming community all over the world. They believe that the esports industry will continue to grow and want to offer gamers opportunities to develop their skills alongside trading, investing, and ultimately having a source of income.

Bringing all of these three features together, Kalmar hopes to attract banking activities on the blockchain incorporating yield farming, gaming, and NFTs.

Tags:
No items found.
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.

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.