The Zeus kGeyser is one of two liquidity programs that will be used to distribute kMPL tokens to the community. Below is information about how and why to participate in the kGeyser.
What is kMPL?
KiloAmple (kMPL) is a multi-purpose asset, with a maximum supply of 51,000 tokens, developed by the AmpleSense DAO.
kMPL has a number of use cases and benefits including:
- Governance: Shape the DAO’s Agenda
kMPL holders will shape the DAO’s priorities, initiatives and activities via community voting.
- Air Drops: Benefit from Successful DAO-Funded Projects
kMPL holders who vote on AmpleSense DAO initiatives will receive exclusive air drops of tokens from projects the DAO funds (if the project has a token).
- 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.
- Finance: kMPL Elastic Vaults Featuring Ample
The AmpleSense DAO will develop “elastic vaults” that provide depositors with the opportunity to earn from various yield farming and liquidity mining programs featuring Ample (and other select elastic assets). kMPL holders will earn fees from elastic vaults.
- Borrowing: kMPL-Backed Ample Loans
The AmpleSense DAO will launch a special lending platform where kMPL holders will be able to borrow other assets, including Ample, by collateralizing kMPL.
Why Participate in the kGeyser Program?
The AmpleSense DAO is distributing 73% of the total 50,000 kMPL supply to the community via the Zeus and Apollo kGeysers.
The kGeysers provide the community with the opportunity to access a token that will help them shape the future of the Ampleforth protocol and elastic finance, and receive a number of benefits from projects initiated by the DAO.
How does kMPL compare to other governance tokens?
kMPL is more similar to YFI (yearn.finance) in terms of how it will be embedded into a range of DAO-funded initiatives (and generate token rewards for holders) versus a token like UNI, which is mainly designed to aid governance of one protocol (i.e., Uniswap).
About the kGeyser Liquidity Programs
As mentioned above, 73% of the kMPL supply will be distributed via two liquidity mining programs:
- Zeus: AMPL/ETH liquidity providers will deposit Uniswap v2 liquidity tokens into the kGeyser contract. All those staking their liquidity tokens will receive kMPL. All stakers will receive a bonus multiplier on their kMPL reward earnings. This multiplier will begin at 1x and increase to a maximum of 5x after 14 days of staking. The duration of the Zeus liquidity mining program will be 90 days, meaning this is when we expect kMPL (23,725 kMPL) in the Zeus kGeyser to be fully distributed.
- Apollo: We will hold a community vote, using the AmpleSense DAO voting dapp, after Zeus’s launch to determine which token will be paired with kMPL (on Uniswap). (Community members will be able to vote using Ample tokens). After the token is selected by the community, the Apollo kGeyser will launch. This program:
- Will have a 120 day duration (12,775 kMPL will be distributed)
- Feature a maximum multiplier bonus of 3x
The Rebase Bonus
Both the Zeus and Apollo kGeysers feature a Rebase Bonus. We have allocated a special pool of kMPL that will be distributed to Zeus and Apollo stakers daily until it is exhausted. Here’s how the Rebase Bonus works:
- Each day at 02:30 UTC, kMPL from a bonus pool is distributed to stakers
- The base bonus is .5% of the bonus pool during positive rebases
- The bonus is 1% of the bonus pool during negative rebases
kMPL from the bonus pool will be manually distributed by community members who will click a “Rebase Bonus” button on the kGeyser interface.
Note: The rebase bonus does not accumulate automatically, the button must be pressed once every 24 hours. All bonus tokens are distributed to stakers at once.
How to Access the kGeyser
The Zeus kGeyser has officially launched. Please CLICK HERE to begin earning kMPL.
The Apollo kGeyser will launch after a community vote on which token will be paired with kMPL. This vote will be scheduled sometime during the week of November 9.
The kGeyser contract is a fork of the existing Ampleforth-developed Geyser contract, which was audited by CertiK.