We are excited to announce the launch of the Kayak Finance Point System, designed to drive the growth of the Kayak ecosystem and incentivize active participation in DeFi. Through this point system, we aim to distribute rewards fairly to Kayak's early supporters, community members, and protocol contributors.
The point system will close at the end of Aug. From now, users can start to win kayak points by interacting with the protocol, whether you are providing liquidity or swaps on Kayak Finance(detailed rules will be introduced in the following)
Early bird
To appreciate our earliest users, we have airdropped early bird points to those who joined us before the point system. Once you have interacted with Kayak Finance since day 1, you can go directly to the airdrop page and check your early bird drop!
Reward Pool
Most importantly, about the point system reward, the prize pool for the point system season 1 will be initially set to 100,000+ USD worth $KAY token. At the same time, whenever Kayak Fiancne reaches a new milestone during this period(e.g., TVL exceeds 1M, transaction volume exceeds 1M, etc.), we will increase the total prize pool to maximum the reward and incentives for our most loyal users and the new coming members.
$KAY Reward will be distributed after the Kayak Finance TGE event.
The following is an introduction to the tasks in the season 1 points system ⬇️:
Kayak Points System Introduction📃
About Points 🔴
There will be three kinds of points in the kayak point system:
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Base Point:
The base point is the point that can be directly earned by interacting with the protocol, which is the most common way to earn points.
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Invitation Point:
Invitation points can be earned through invitation activities; details will be announced next week
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Pre-point:
The pre-point is the extra bonus point that airdropped to kayak community members, partnership protocol, invitation activities, airdrop rules, and target communities will be shared next week!
Basic Tasks :🏫
Basic Tasks is where you can earn base points, and it's the most important way to accumulate your kayak points. There is two basic tasks, which is:
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Providing liquidity in the trading pool
- 1 USD worth of liquidity will earn 2 points per day
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Trading(Swapping) between different tokens
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1 USD trading volume earns 1 point
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The daily cap for trading points is 1000 points
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Invitation Reward:🤝
The invite system is coming next week; stay tuned for more updates!
Achievements:🏆️
Achievement is where you can earn multipliers to maximize your total points. At the end of the point system, your total point will be calculated as: (Base Point + Invitation Point)* Multiplier.
One way to earn multipliers is to participate in the platform's achievement task; check out the following form for the achievement, and finish the task to win a multiplier bonus!
Loyalty Multipliers:📈
Royalty Multipliers are the other way to gain multipliers on the platform. The multiplier will be distributed to Liquidity providers on Kayak.
Once LPs deposit liquidity and stake their LP token into the platform, the loyalty multipliers will start to accumulate(linearly increasing every hour), and the multiplier will reset to 1x if LPs unstake from the pool.
After the point system ends, the reward will be distributed according to each user's total points; that means more points equals more reward!
Detailed distribution rule will be announced in Aug, stay tuned!
Come and join the kayak point system to win!🤑
Kayak Finance Team🚣
