KIP-130: KSX TGE

Simple Summary

The KSX token will be minted by the treasury and issued via a liquidity event.

Abstract

The treasury will use $2M USD worth of KWENTA tokens to initiate the genesis of KSX. These tokens will be pooled and distributed in a restricted Camelot LBP event to bootstrap liquidity and fuel operations. Eligible wallets will have access to a small amount of KSX that can be purchased for additional incentives.

Motivation

A liquidity-rich environment will position KSX to be favoured over the KWENTA token by LPs, traders, and DAO members. The KWENTA token will continue to be operational for those who wish to capture revenue directly, however, KSX is better suited for a multi-chain landscape and ultimately reduces overhead which comes with staking for the DAO.

The event is being proposed to enable a wide distribution of the token without exhausting local demand and immediately offering significant liquidity for the market. Pyth token has been paired as an additional incentive aligning participants with Kwenta and Pyth.

Specification

For more information, visit the: Kwenta State Log