The time has come to introduce Version 2 of Koala DeFi.
This blog post will describe and outline the new features and improvements coming to Koala DeFi. 👀
We will take an indepth look at the future of the $LYPTUS token and its upcoming scarcity. 🚀🚀
But first we (Koala Team) want to thank you, the community for your amazing support. We have just celebrated two months of activity and this wasn’t possible without our amazing community! You’re great people! 🐨❤️🐨
Koala DeFi is no longer just a place to safely farm, it’s a great human adventure! 🙏🙏🙏
Version 2 is on the way 😉
Below you will find a list of features and improvements coming in Version 2.
Please note, not all the features listed below will be available when we release Version 2 to production. Version 2 will include a gradual introduction to these new features.
We want to try and keep this blog post short and sweet, so we will briefly give you an overview of the planned improvements.
More Detailed blog posts on Version 2 features will follow.
Few notes before we start 📝
Contract change ✔
Some of you know that what is written on the blockchain can never be changed. For that reason adding new features to existing contracts on the blockchain is impossible. For this reason new contracts, new tokens and a migration from the users is needed in order to make Version 2 possible. (As an example take a look at the recent migration of PanCakeSwap to their V2, it’s a ton of work which requires new contracts to be deployed on the blockchain)
Koala DeFi is and will always be a safe place to farm. It’s deeply written in our values. We help people (and animals ;-) ) and we don’t want to see them rugged.
Any of our new contracts will be audited by at least one reputable auditor before we deploy them to production.
Eat/Burn terms 🍂🔥
As you probably know, the poor Koalas have been badly hurt by multiple forest fires in recent years. For that reason Koala DeFi prefers using the term ”eaten by Koalas” when we talk about burnt tokens.
Reminder for those who don’t know what a Token Burn is:
A Token Burn is a transaction that sends tokens to an unusable address on the blockchain. This address is called the “zero”, “dead” or “burn” address on a blockchain. When sending a token to the “burn” address, there is no way to get those tokens back. They are indefinitely lost/burnt. The burn mechanism is used to reduce token supply, create deflation and scarcity. A good example is BNB from Binance, every quarter BNB is burnt.
Enough background, let’s go Koalas! 🐨🐨🐨
New User Interface (UI) 📺
PanCakeSwap was a great UI to build off and create a proof of concept. Koala Defi has got to the point where we want to build our own identity and distance ourselves from PanCakeSwap and all of the clones created daily. (Most of these clones are poorly executed)
We want Koala DeFi to look unique because we are unique.
In recent weeks we have seen many clones of koaladefi.finance being deployed, this is not good for our public image. For this reason we have chosen to not make our new User Interface available publicly.
Do not panic, our core source code (like contracts) will still be publicly available on Github, it is just our UI we are keeping private.
Two new tokens and $LYPTUS scarcity/utility
✋✋✋ This is the most important part of Version 2!
More tokens are coming for our Koalas to chew! 🐨❤️🍂
In version 2, we plan to introduce 2 new tokens. These new tokens are needed to bring new features and add more automatic burn mechanisms to Koala DeFi.
$LYPTUS is a great token and will still remain a core token at Koala DeFi. $LYPTUS is a simple token in terms of functionalities and does not include any core automated burn mechanisms. The $LYPTUS token contract can not be changed, for this reason we needed to create new tokens to bring Koala DeFi to the next level!
$LYPTUS : history of the name 📜
Before talking about the new tokens, let’s get back to the history of the $LYPTUS token name. This will help to understand the names chosen for the new tokens.
You probably already know the origin for the name $LYPTUS. It comes from the word eucalyptus. Koalas diets mainly consist of eucalyptus leaves. That is why the name $LYPTUS was chosen for our first token. The $LYPTUS log comes from the eucalyptus gunnii tree, this leaf is also called “The Silver Dollar”. 💸🍂
First new token : $NALIS 🌿
Important disclaimer : $NALIS is not yet available on BSC. Do not buy any $NALIS token on BSC yet! You need to wait for the official Koala DeFi $NALIS token release, The official contract address that will be added to our documentation soon.
Before talking about $NALIS features, let’s talk about the name of this token :
We needed another token name that could be eaten (burnt) by the Koalas. As the diet of the Koalas is mainly eucalyptus, this required some botanical research 😉
Eucalyptus viminalis is a type of Eucalyptus tree. Eucalyptus viminalis has much higher levels of sugar in their leaves when compared to other types of Eucalyptus, Koalas absolutely love it. Eucalyptus viminalis also happens to be one of the tallest eucalyptus trees. (Between 30m and 50m tall)
So your lovely Koalas will eat another type of eucalyptus: The $NALIS token coming from eucalyptus viminalis. But of course they will continue to eat the $LYPTUS token ;-)
$NALIS token is a new smart contract and brings many new features. These features are inspired by the latest innovations in the DeFi world. We took all the best features and built them into the $NALIS token.
$NALIS token core features :
These features and parameters are all adjustable within fixed limits. This will help to bring evolution to our tokenomics in the future.
- Automatic burn mechanism on each transaction 🍂🔥 : 1% of each $NALIS transaction is eaten/burnt. This transfer tax has 2 goals : Add more automatic burn mechanisms and be an incentive to hold tokens. This feature will be subject to a community vote before the release of $NALIS.
- Anti-whale system 🚫🐳 : Any transfer of more than 1% of the total supply will be automatically rejected. This maximum ratio will be reduced as the total supply grows.
$NALIS masterchef core features :
A farming token is associated with a masterchef contract which manages minting of the token and allocation to farms and pools.
- Dynamic deposit fee system of farms and pools : Standard deposit fee systems are set from 2% to 4% and will be adjustable. The main innovation here is that a part of the deposit fee will be fixed (from 0% to 2%) and the other part will be dynamic (from 2% to 4%). These ratios can be updated in the future to match with the APRs and give competitive deposit fee compared to the industry standard. See “Automatic $LYPTUS token burn as deposit fee below to understand a part of the dynamic deposit fee system”. Note : Farms and Pools from native $LYPTUS and $NALIS token pairs will never have deposit fees.
- Automatic $NALIS token burn mechanism on farms and pools 🍂🔥 : 2% of generated $NALIS token is eaten/burnt on farms and pools distribution.
- Automatic $LYPTUS burn as deposit fee to enter a non native token farm or pool 🍂🔥 : All farms and pools (excluding $LYPTUS and $NALIS farms and pools) will need the user to eat/burn an amount of $LYPTUS to join the farm/pool. This amount of $LYPTUS is the dynamic part of the deposit fee.
- Automatic $NALIS token distribution to the lottery pot 🎫 : A % of $NALIS created per block is automatically sent to the lottery contract address to automatically fill the lottery pot.
- Auto-compounding : This enables the future developments of auto-compounding and vaults strategies features.
- Harvest lockup period on $NALIS token 🕑 : A minimum delay is set on harvest and/or compound. This prevents bots actions and whale dumping on frequent harvest. This lockup period is only applicable on harvest and/or compound, not on withdrawals.
- Withdrawal fee 🍂🔥 : A 10% withdrawal fee is deducted from the rewards if the withdrawal occurs within 3 days. Each withdrawal resets the timer for 3 days. The 10% withdrawal fee is automatically eaten/burnt. Farms and pools from native $LYPTUS and $NALIS token pairs will never have withdrawal fees. This brings more automatic burn and also a good incentive to stay in farms and pools for longer.
- Reward time lock on $NALIS token ⏳ : A part of the farming rewards is locked into a locker contract for a 15 days period on each harvest. This part will be set between 20% and 50% of the collected rewards. Those locked rewards will be available after the locking period. This 15 days period will be set at launch and probably reduced in the future.
- Referral program rewards $NALIS token 🐨❤️🐨 : Every time your referred friend harvests $NALIS token rewards from farms or pools, you will receive a referral commission to your wallet. The referral commission rate is set to 1% and adjustable in the future.
- Charity fund ❤️ : A part of deposit fees from farms and pools are automatically sent to a Koala DeFi charity address. This adresse will be used only to fund Charity associations which save koalas and their environment. At launch, 10% of deposit fees will be sent to this address. Koala DeFi will give transparency, details and usage on all transactions of this address.
Second new token : $VIKNALIS 🏆🌿
Important disclaimer : $VIKNALIS is not yet available on BSC. Do not buy any $VIKNALIS token on BSC yet! You need to wait for the official Koala DeFi $VIKNALIS token release, The official contract address that will be added to our documentation soon.
$VIKNALIS is the reflect token of $NALIS.
VIK stands for Very Important Koala
Only brave and true Koalas can chew this token, these Koalas are the Very Important Koalas and deserved a V.I.P. program in our ecosystem.
What are the features and advantages brought by $VIKNALIS?
- Backed 1:1 by $NALIS token : Each $VIKNALIS minted is backed by an amount of $NALIS token stacked in specific treasury funds. This process is automatically managed by safe smart contracts.
- Minting fee 🍂🔥 : Each $VIKNALIS is minted with one $NALIS after the 20% mint fee is deducted. This mint fee is eaten(burnt). This fee will be adjusted in the future and probably increased to make this token accessible only to brave Koalas. At any point you can swap back $VIKNALIS to $NALIS at 1:1 with no fees.
- Passive farming : A 2% fee is applied on each $VIKNALIS token transfer. Holders get a share of the fee proportional to their token amount just by holding them in their wallet.
- Exclusive access to high APRs Bushes 🚀 : As a Very Important Koala ($VIKNALIS holder), you have access to exclusive Bushes to earn other valuable tokens with bigger APRs.
- Deposit fee reduction 💰 : $VIKNALIS holders have a reduction on deposit fee when entering into farms and pools.
- Exclusive access to VIK pools 🚀 : Some pools are reserved only to stake $VIKNALIS
- More to come : We will reserve special events and contests for $VIKNALIS holders
What about $LYPTUS future utility and coming scarcity ?
So what will happen to $LYPTUS ? Rest assured, we have great plan to make $LYPTUS totally scarce!
We will come back in details about this in a next article, but here are the important points :
- $LYPTUS will become our DAO governance token in the future of the project. Only $LYPTUS holders will be eligible to vote for the important project decisions.
- $LYPTUS will actively be eaten/burnt 🍂🔥 by the Koalas to enter into farms and pools by paying a part of the deposit fees in $LYPTUS.
- $LYPTUS will be needed in our ecosystem to enter into non native farms and pools. This is a unique and never seen before feature: If you want to farm or stake non native tokens from Koala DeFi, you will need to buy and burn $LYPTUS
- $LYPTUS holders will have access to special contests and events. 🚀
- $LYPTUS holders will have access to $LYPTUS only bushes. 💰💰💰
- $LYPTUS emission rate will be progressively reduced to almost 0 $LYPTUS per block after the V2 launch and probably totally stopped after a while (this will be voted by the community). This means that there will be probably never more than around 4,3M of $LYPTUS minted (3,500,000 previously announced but the Koaboost campaign which took place in May was not planned)
And this maximum supply will always decrease in the future with no more $LYPTUS minted and existing burn mechanisms still in place… so if you don’t have some $LYPTUS, it’s probably time to get some of them 😉
$NALIS and $VIKNALIS are built with new smart contract core functionalities which allow easy way to build auto-compounding around these new tokens.
The auto-compounding feature will not be released at V2 launch but will be one of our top priorities to be added after the V2 Launch.
Prepared for Vault functionality
Our new ecosystem within the version 2 will be ready to build vault functionalities directly at Koala DeFi without the need of external help. This doesn’t mean that we will not partnerships with other great dapps like Beefy or Autofarm. In the future we will be able to add built-in vault strategies directly at Koala DeFi.
If you there for a while, you probably know 3–4 important things about Koala DeFi :
- We truly love our community. ❤️
- We have a big focus on security 🔐 and want our users to be safe and sleep well with their funds into our contracts.
- We share an important part of our revenues 💰 to our holders through our Bushes.
- We want to be unique
For these reasons, we have decided that we will build a non standard lottery within Version 2.
We want to build a “no lose” lottery.
This is not a new concept and a well know one on the ETH chain is pooltogether.
We really love this idea of a “no lose” lottery and here is the main idea : You buy lottery tickets with $NALIS and you will remain eligible for all future lotteries. You can always sell back your ticket to get $NALIS in return.
Of course a lottery has 2 goals : Make some lucky winners rich 💰💰💰 and burn tokens 🍂🔥. So in our “no lose” lottery we will eat/burn $NALIS token too : An amount of $NALIS will be burnt on ticket purchase and a part of the lottery pot will also be burnt. 🍂🔥
New $NALIS token presale 🚀🚀🚀
We don’t want to have the same start as we did with $LYPTUS. It was a bad start : absolutely no liquidities and a crazy price speculation before the launch. We don’t want to go through this again.
Having liquidities at the launch of a new token is very important to get a price which stabilizes quickly and has healthy growth. We missed it the first time because we wanted a fair launch and it wasn’t really what we get.
So this time : Presale!
Terms of the presale will come in a detailed article with all the information:
- Supply for the presale
- Supply distribution
- Presale handling : We have two possibilities : doing the presale by ourselves or doing the presale on a dedicated platform. This will be discussed soon with partners.
- Date of the presale
And then ?
After the reading of this article (for those who are still reading ;-), some of you will certainly ask : When V2 ?
It’s too early to give you exact dates on the V2 launch, we are already working on it and some beta testing has already started but we don’t want to rush into the launch.
Here are the important point before the V2 :
- One or more community vote(s) about some functionalities of $NALIS. This will be done in a week or two.
- Security audit of each new contract.
- Deeply testing the new interface.
- Organize and make a presale for $NALIS.