Kairos Cash: The Roadmap
As we have already stated multiple times, Kairos Cash is a lending and borrowing protocol that allows users to mint stablecoins by collateralizing various interest-bearing tokens (ibTKNs) rooted on the KrunchPad. With its successful launch on January 25th, we now meet the end of Kairos Cash’s Genesis Phase.
We hold the vision of becoming the #1 decentralized bank of Klaytn chain and have faith that our avid community will be beside us in every step along the way. Since our launch, more than 4M KASH has been loaned and every replenishment lasted no more than 20 minutes. This active engagement shows the strength and eagerness of our community. Today, we thank you for your participation.
With Kronos DAO accumulating assets through Kairos Cash, Kairos Cash will be equipped with various strategies that users will be able to utilize for sustainable asset management. Simultaneously, KREDIT and KASH will immensely grow in their utility and liquidity, again, helping you grow your assets.
As a protocol with its foundation on Kronos DAO, Kairos Cash will make innovative integrations, creating a synergy between the two protocols. This synergy will, with no doubt, greatly contribute to the Klaytn ecosystem and any other networks that we enter into.
KREDIT Tokenomics (Emissions & Buybacks) 🔥
With the release of this roadmap, we meet the end of the Genesis phase and introduce the start of the Expansion Phase. As we embark on our journey into the Expansion Phase, we would like to introduce two new policies: zero emissions and weekly buybacks.
The Kairos Cash team decided that no more KREDIT will be minted on the KrunchPad.
Here are the reasons for this conclusion:
- As of now, we have minted and loaded 1/3 of KREDIT’s total supply allocated to the KrunchPad. Though not all of them are circulating, we wish to prevent excess supply and thus hope to facilitate the rise in KREDIT price.
- The team has prepared sufficient liquidity to stabilize KASH as a stablecoin.
Though the protocol still has a long way to go, the overall success of locked liquidity and replenishments of collateral boxes shows the potential of our system. This combined with zero emissions, Kairos Cash will become a more sustainable project.
Currently, after staking KREDIT, the token increases in exchange ratio. Therefore, the exchange ratio at the time unstaking determines the number of KREDIT tokens you receive.
To maximize the exchange ratio and thus the rewards to sKREDIT holders, we are planning to buy back tokens once a week. The weekly buybacks will be allocated as rewards to sKREDIT holders, increasing the exchange ratio of KREDIT to sKREDIT.
Until now, these kinds of buybacks have occurred sporadically. With the integration of this policy, we aim to increase the exchange ratio of KREDIT to sKREDIT on a more regular basis. Every buyback will be announced following the event through our official Discord channel (#kredit-buyback).
The Science Behind Collateral Boxes 🎁
Launching new collateral boxes is a careful and well-calculated process since each collateral box invites project tokens into our ecosystem and increases the amount of KASH that can be minted.
Currently, we only accept the interest-bearing version of sKRNO (wsKRNO), meaning that KASH is only connected to one token. While diversifying collaterals and accepting new tokens will grow the overall health of the project, these additions need to be carefully assessed and selected. An important factor is to balance the collateral amount (which leads to the total amount of KASH borrowed) with the amount of liquidity available in the KASH LP pools. It is healthy to keep these factors of the total collateral boxes less than the KASH LP pools.
So, more liquidity in the KASH LP pools = more new collateral boxes (and more KASH!)
If the liquidity of the KASH LP pools is increased, more variations in the collateral can be launched and more KASH can be distributed. This phenomenon will attract more loans and therefore increase the rewards for sKREDIT (staked KREDIT) holders.
The liquidity of the KASH LP pools is the foundation on which new collaterals are launched, therefore, it is important to incentivize and grow this pool. The team is considering many options to attract liquidity, which will give rise to the virtuous cycle of more KASH and more LP.
Airdrops regarding KREDIT will be carried out over multiple sessions to circumvent rapid inflation. Accordingly, snapshots will be taken more than once.
Wallets with sKRNO and wsKRNO will be able to receive airdrops which amount to 140M KREDIT in the first session. The wsKRNO that you might have put in as collateral is also eligible to receive the airdrop, so do not feel the need to repay your loans hurriedly!
For further details regarding the airdrop, please keep an eye out for our announcements on our Discord channel.
Integration into the Multichain ⛓
With the best partners beside us, Kairos Cash will be the main project for Kronos to expand into the multi-chain universe. KASH will become a core stablecoin in chains that lack the presence of native stablecoins. Protocols will be able to utilize KASH in order to achieve stable storage and exchange of values. wsKRNO will be bridged to other chains with KrunchPad.
The Kronos DAO team is also considering various methods to efficiently swap other multi-chain protocols’ assets that have the potential to be moved to the Kronos ecosystem. By providing a smooth user experience and concrete financial benefits, we aim to enable seamless migration of their assets. In line with these plans, the Kronos DAO team is proceeding with concrete plans to partner with protocols onto Terra and Solana networks, continuing further towards BSC and Polygon.
A detailed article on our multichain plans and partnerships can be found in the Kronos DAO medium article.
Welcome to the Expansion Phase 🎇
What we have discussed so far is just the tip of the iceberg of what is to come. During the Expansion Phase, our team will
- Usher in a deflationary model that will give rise to KREDIT’s value.
- List KASH on numerous DEXs to provide more utility to holders.
- List KREDIT on CEXs to provide additional value.
- Add a variety of ibTKNs used as collaterals.
- Integrate into multichain (Terra, BSC, Solana, Polygon, etc.)
- Partner up with the best protocols of various chains.
- Initiate mass marketing.
The past few weeks with Karongz have been very exciting and valuable to the team. We have plans of introducing so much more. Through this process, we will build up an environment where everyone will willingly add value to the milieu.
With KASH and its lending system, Kairos Cash will play a crucial role in our expansion into the multichainverse. In addition to the expansion, we aim to target the general public who might not be familiar with blockchain as well as those who are already comfortable with the technology. Together with the alignment of Klaytn chain’s vision for mass adoption, Kronos DAO and Kairos Cash’s mission to build a user-friendly application targeting the general public will be the key factor for a rapid expansion of the Kronos ecosystem.
Our team will work rigorously to help expand the Kronos Ecosystem. We hope that Karongz will be beside us on this journey until the end. WAGMI 🚀
To keep up to date, turn on notifications for #announcements in the Kronos DAO Discord and follow our Twitter account.
Kairos Cash Website: https://kairos.cash/
Kairos Cash Docs: https://docs.kairos.cash/
Kairos Cash Medium: kairos-cash.medium.com
Kairos Cash Discord: https://discord.gg/kronosdao
Kairos Cash Twitter: https://twitter.com/KASH_KREDIT
Kairos Cash Telegram Global: https://t.me/KairosCash_ENG
Kairos Cash Telegram Korean: https://t.me/KairosCash_KR