KLO Staking v2 is live
KLO holders voted in favor of governance proposals KIP-001 and KIP-002 with a clear majority of 87% of all votes. As these proposals made significant changes to the tokenomics of Kalao, we had to create new smart contracts for staking. The audit by Paladin is now finished and no issues were found. Therefore, we are happy to announce that our new staking system is going live today!
New KLO tokenomics
The goal of our new tokenomics is to foster long-term alignment of the Kalao platform and its stakers. To do so, we introduce the following changes
- 75% of marketplace fees get distributed to stakers in WAVAX (more info)
- Stakers receive a share of fees based on their veKLO balance. When you stake KLO, your veKLO balance automatically increases over time. As a result, users that have staked for longer get a bonus, and therefore receive a bigger share of marketplace fees and hold more voting power. Stakers can earn a max bonus of 300%, which they reach after 183 days. The bonus increases linearly over time, every second. Unstaking any amount of KLO results in all bonuses getting burned
- Stakers also receive KLO token rewards in the form of esKLO (escrowed KLO). esKLO earns WAVAX and esKLO rewards just like normal staked KLO. Users can decide to convert esKLO into KLO via linear vesting over 183 days. During this time, the esKLO won’t earn rewards.
You can find more info about veKLO and esKLO here.
New staking system
If you are currently staking KLO in the old staking contract, you will need to unstake and restake on the new contract.
👉 We prepared a staking guide for you