Treasury Assets #
Initial funding for the DAO (which funded smart contract development, digital asset development and seeding for Pioneer Fund I) came from the organization’s three founders.
Post the startup phase, the ASDAO Treasury now contains the following types of assets as described in the table below.
|ETH||Additional ETH will come from conversions of other cryptocurrencies in the Treasury and other sources, such as contributions by DAO Members.|
|KMPL||KMPL is an ASDAO-created cryptocurrency with a total maximum supply of 51,000 tokens that helps to fuel the DAO’s activities and delivers benefits to holders in the Ampleforth Ecosystem (see below). (Earn kMPL | Buy kMPL)|
|Other Cryptos||The Treasury will also contain other cryptocurrencies provided via various means. Most importantly, projects receiving DAO funding will be asked to deposit tokens into the DAO Treasury in order to help support its ongoing operations. KMPL holders (who vote on ASDAO initiatives) will also receive airdropped tokens from these projects.|
KMPL: A Multi-Purpose Asset #
The total supply and distribution of the KMPL ERC20 is 51,000 tokens. More than 93% percent of the supply will be distributed to the community via two liquidity programs called kGeysers and the ASDAO Treasury (by funding products, services and initiatives that benefit the Ampleforth and broader elastic finance community).
kGeyser Liquidity Programs #
To distribute KMPL tokens to the community, ASDAO has launched two liquidity programs: the Zeus and Apollo kGeysers.
|kGeyser I (Zeus) – ~47% of circulating supply distributed via Zeus||AMPL/ETH liquidity providers can stake liquidity tokens to receive KMPL rewards (23,725 KMPL will be distributed)||~90 Days|
|kGeyser II (Apollo) – ~25% of circulating supply distributed via Apollo||Apollo is designed to support KMPL/ETH liquidity. Providers will receive KMPL Rewards (12,775 KMPL will be distributed)||~120 Days|
The kGeyser smart contracts utilize the audited Geyser contracts developed by the Ampleforth team. No modifications to these contracts were made.
KMPL Benefits and Preliminary Roadmap #
Note: Roadmap shown below is subject to change based on DAO governance and market events.
KMPL tokens will deliver a range of rewards and benefits to holders, including:
- Voting: KMPL holders will have a significant impact on the DAO’s initiatives. KMPL will have more voting power than AMPL in DAO governance.
- Token Rewards: Wherever possible, DAO-initiated special projects will include opportunities for kMPL holders to earn token rewards in exchange for providing services such as additional governance.
- Air Drops: Projects funded by ASDAO will be required to air drop tokens to KMPL holders, allowing them to directly benefit from/participate in these initiatives (if the project has a token). Note: Only KMPL holders with a history of voting on recent AmpleSense community initiatives will be eligible for air drops.
- Elastic Vaults: ASDAO will develop “elastic vaults” that provide depositors with the opportunity to earn from various yield farming and liquidity mining programs featuring Ample. kMPL holders will earn fees from elastic vaults.
- Lending: ASDAO may develop a special lending platform where KMPL holders can loan the asset and take out collateralized loans (the Zeus kGeyser is designed to provide a liquidity foundation for the platform). Launch of this product is subject to kMPL liquidity maturity.
ASDAO Budget Allocation #
The table below outlines the ASDAO budget allocations by percentage of overall Treasury. (These allocations were approved by the DAO Founding team on September 11, 2020 via a Governance Vote. Any changes to these allocations will be subject to another Governance vote.)
|Activity||Description||% of Treasury|
|Ecosystem Development||Funding elastic finance/DeFI projects. To be eligible for funding, all projects must include Ample as an asset. The majority of projects will deposit a portion of their tokens into the ASDAO Treasury and conduct an air drop for KMPL holders (who have recently voted on DAO activities).||70%|
|Marketing/Communications||Creating marketing and communications campaigns to spread awareness of and educate on Ampleforth.||12%|
|ASDAO Infrastructure and Special Projects||Supporting the ASDAO digital infrastructure, securing expert and technical support and developing ASDAO platforms (such as elastic vaults, other projects).||10%|
|ASDAO Reward||Maximum amount reserved for rewards to DAO Founders and Members||7%|
|ASDAO Operations||ASDAO administrative expenses, and other internal needs.||1%|