Every day, while there are thousands of crypto being traded, there are billions of questions being asked. If we were able to tokenize questions and DeFi them, how big would this market be? $0.1B, $1B or $10B?
If there were thousands of questions being asked on KnoxMarket, KnoxMarket could become the Uniswap of Q&A, facilitating high-quality knowledge sharing and coordination throughout the world. To reach this milestone, communities play a core role, and therefore it is important that KNX tokens are distributed to as many communities as possible.
Liquidity Bootstrapping Pool (LBP)
LBPs are Smart Pools on Balancer. Key features of the LBP include:
Fair distribution: The high liquidity of an LBP enables distribution of the tokens to as many participants as possible.
Prevent front-running bots: There is no first-come, first-serve advantage because LBP is based on a pre-configured decay curve.
DAO-Owned Liquidity
LBP will bootstrap DAO-owned liquidity on various DEXes. Knoxers will make community-driven governance decisions and are responsible for guiding the DAO. The design of KnoxMarket is such that we can educate and empower users to drive better, community-informed, decision making.
KNX Utility
KNX token can be utilized in KnoxMarket and KnoxGov. In KnoxMarket V2, users will need to use KNX to propose topics. KNX is also required to participate in KnoxGov governance proposals.
Token Allocation
Token Symbol: KNX
Total Supply: 1,000,000,000 KNX
Contract Address (Celo): 0xa81D9a2d29373777E4082d588958678a6Df5645c
Contract Address (ERC20): 0xe93a27d4ed64f44a2b356d78c06115e5c9d97da0
10,000,000 KNX tokens were bridged from Celo to Ethereum and deposited into Balancer LBP:
Community (35%)
To distribute retroactive airdrops and knowledge mining rewards to early adopters, 10% of KNX from the community allocation is unlocked on day 1. KNX airdrop will be claimable in early November. The remaining 90% of the community allocation is vested linearly for 5 years and will be used for knowledge mining and liquidity mining.
DAO-Owned Liquidity (15%)
To bootstrap a DAO-owned liquidity on various DEXes, 10% from this allocation will be unlocked on day 1 to provide 10M KNX tokens liquidity through LBP on October 16, 2021. Any remaining KNX tokens from the LBP will be sent to Celo Reserve and/or KnoxDAO. The bootstrapped DAO-owned liquidity from the LBP belongs to the community and will be diversified based on decisions made by Knoxers. The remaining 90% KNX tokens are linearly vested for 3 years.
KnoxEdge Labs (15%)
KnoxEdge Labs rely solely on grants from Celo to develop educational tools. KnoxEdge Labs will continue to develop more DAO tools for knowledge coordination and steward KnoxDAO into the future. KnoxEdge Labs will work closely with the community and Knoxers. 15% of the KNX total supply is allocated to KnoxEdge Labs and is subject to a 5-year unlocking schedule.
Community Contributor / Product Development / Bounty (35%)
35% of KNX total supply is allocated to early & future contributors and is subjected to a 3-year vesting schedule with 1-year cliff.
Details on KNX Balancer LBP
Format: Liquidity Bootstrapping Pool (LBP)
Place: Ethereum Blockchain
Date: October 16, 2021
The LBP pool weight starts at 96:4 and declines to 30:70 over 14 days. Because of the algorithm of Balancer LBP, there is high liquidity & low slippage at the beginning of the LBP, but low liquidity & high slippage towards the end of the LBP, potentially resulting in volatility towards the end of the LBP. This Youtube video is helpful if you want to understand more on how exactly LBP works.
Bridge KNX from Ethereum to Celo
To use your KNX tokens for governance, please bridge your KNX tokens from Ethereum to Celo using Optics bridge: https://optics.app/. The bridging process takes about 4 hours.