In the first week of January the first Koala Defi V3 vote will open about the tax and emission on Nalis. To prepare the community we had an AMA in our Telegram chat on the 29th of December about Nalis.
You can read back the AMA in this transcript.
yes a Question. Avax network has great potential, can the farm be started here as well, but without emissions for the nalis tokens in the avax network, can the nalis tokens be pooled to transfer here from other networks? Required Resource, tax deductions and avax support etc from all networks. Can It Be Shaped With? (if this happens, nalis token inflation on other networks loses its effect)
We are always looking at different chains, personally I don’t think we should start with a new chain before the current tokenomics of Nalis are fixed.
When the bridge is online, it will be possible to do this, but it will not be easy. First of all you will need a lot of liquidity (we currently) don’t have to keep the bridge active. These past couple of months we’ve seen a lot of projects get burned on bridging tokens.
The Nalis tokens would have to get bridged from poly or BSC to avax manually.
But we are considering (of course it will be discussed with the community first) to stop the emission of Nalis on one of the current chains when the bridge is active.
I’m personally a bit cautious mentioning a release date for the bridge since I don’t control the progress of the bridge. It should be pretty close, but it’s not just the technical aspect, we will need liquidity on boths sides of the bridge in order to let it work. This was one of the reasons the polyswap.koaladefi.finance bridge kept failing, as soon as we added more liquidity it immediately got drained.
So first more sustainable tokenomics, after that opening of the bridge and possibly another chain.
Anyswap is a very successful system for bridging to the avax network. maybe you already know. maybe someday cooperation may be needed.
Having your bridge on a third party service provider is an enormous risk. One hack and a lot of projects will completely go down the drain
I start with some questions. But I not able to stay awake until AMA, I am too sleepy😅😅 will check it once wake up.
1) in polygon koaladefi previously, we have few casino games which developed by treasurekey and had been stopped. I understand it had help burn some of nalis token during the game. Since it had stop right, polygon nalis I think still minting like normal with lesser burn. Is there any new game coming on to replace the retired casino game / this temporarily pause until the team find a new partner to fill this place / team has a new strategy on this? Like Lottery pot maybe 🤔
2) any news about the bridge? If nalis with transfer tax, the bridging process sure will burn some nalis. If nalis without transfer tax , will there have some fee collected by the team in order to help burn?
3) for lyptus , maybe removed all the lyptus farm that generate nalis, and set up a bnb / busd pool dedicated for lyptus holders. (With burn fee of course). Bnb/busd might be frm the earning of the project.. if the project earn more, thn bnb/busd pool will give more rewards.
1) I don’t think the casino got used that much 😅
But yes, absolutely!
One of the things we’re looking at, is to make Nalis a lot more important within the platform.
Personally I don’t think there’s enough differentiation between Lyptus and Nalis, making it hard to specify their roles within the platform. After the vote on the transaction tax on Nalis has been determined, the next proposal will be about the role of Lyptus in the platform.
We are also working on a lot of fun games and gambling opportunities for Nalis.
2) See my answer to Yatirim above
3) The problem is, in order to give Lyptus owners a reward for staking, you need some income. Currently this is coming from the Nalis emission and for the bushes we had 2 double bushes to stake Lyptus. The problem with these bushes is they cost a lot of money and didn’t do anything to keep the price of Lyptus up to be honest.
So we have thought of a couple of other ways to reward Lyptus owners, I already teased one of those which we will specify more about soon, making lyptus a stake in the platform with a pretty good standard APR topped off with a percentage of all income of the platform.
This way Lyptus holders will be true shareholders with both rewards for their share and a seat on the governance board to help make important decisions
Is there an overview of how the platform generates revenue?
I would love to see if there is a crossover where I can make a nice profit whilst also helping the platform to generate some revenue.
E.g. I’ve started to move my Lyptus into the Lyptus/BNB vault at ApeSwap. Do you guys get a portion of the nalis emmisions from that? In addition to the nalis emissions you receive anyway
No the ApeSwap Vault doesn’t help, as a matter of fact it hurts the project.
If you want to do what’s best for the project, stake it in our own platform, it will help the TVL, there will be no sell-off needed (as with the Lyptus vaults that sells off Nalis to buy Lyptus for the rewards)
An overview of all income/expenses is in the doc.koaladefi.finance section
I have my nalis in the pool, although it is profitable for me to use the bush since I sell everything I get to buy more nalis, I do not usually do it since I have to move 2 times and lose 2% in each transaction. I make my head less warm leaving them in the bush and that’s it. I think these partners cost a lot and actually people use it to dump it and get other tokens. A vault with a locking mechanism and a burning mechanism to go out or a% would go well in rewards … since for example I have my nalis in the medium long term since I fully trust Koala’s work and the future use of Nalis. I don’t think that people keep a Token just for the fact of being able to get another token but for the use of the token. And I think that Nalis changing the taxes and lowering apr when all that planned goes will create a great purchase. ( sorry its google transalate XD)
Thanks! Totally true.
One of the problems with vaults and taxed tokens is that everytime your earnings get harvested and restaked (basically what a vault does) there is a 2% tax.
Removing the tax would make this a lot easier. But at the same time poses the risk of making it easier to sell of, because there’s no tax
In my opinion, a few things could be done to help the koala;
1) Attract new external users … this is with new utilities to the platform, for example with the bridge, to be able to send usdc and usdt between chains, with better rates than evodefi, and also that these rates are paid with nalis what requires users to buy some nalis, and what differentiates koala bridge from other decentralized bridges is that native blockchain tokens can be sent, for example send matic from bsc to polygon and vice versa, send avax from bsc to avalanche and vice versa, send sol from bsc to solana and vice versa, etc.
2) Lower the apr de nalis and eliminate the 2% tax … the tax is useful, but at the moment it only delays down the prices that will be reached in the future, so they do not fulfill their function well, once more users are achieved (through the bridge, through the koalaverso, new-yield farms, etc.), and the price of nalis rises, return with the 2% tax and lower the APR as low as possible to limit inflation and pressure for the revaluation of the price of nalis, in addition the koalaverse will play a crucial role to revive the nfk, and a frequent interaction of buying and selling of nfk in 1 bnb, will be spectacular for the project, since the nfk market, leave resources for ( marketing, burning, salary payments, new alliances, etc.)
3) Limit the supply of nalis … when a new user asks if nalis prints infinitely, and you say, yes, for that user it is not pleasant to hear that, instead if you have a limited amount of nalis you can tell that user, noo nalis is not infinite, it has a limit and is even deflationary: v, it is only enough to have a limit of one billion tokens that is reached in 10 years. and in 10 years perhaps such effective combustion mechanisms will be generated that the maximum supply is never reached.
4) My perception is that users love to look for new projects with low capitalization and potential for quick profits, the koala is already old but, it has little capitalization, and with the new things that come like the koalaverse, why not taking advantage of the opportunity? to relaunch the platform, with a page layout change and all, show the world that koaladefi is being born, and has good farms, a bridge, koalaverso, “koaladefi the novelty.”
5) lyptus is a store of value, although its price gradually decreases, mathematically since its offer tends to 0, its price tends to infinity, in fact it is close to losing 4,000,000 tokens, if the koala does well and is long-term keeping lyptus would be even better than btc since btc is not deflationary, but to get attention to buy lyptus you have to focus on nalis, if the benefits given to nalis are absorbed by users, it will drag lyptus to success, therefore, efforts must be in nalis.
6) if viknalis is created, you should focus on burning nalis, if you pass your nalis to viknalis, it should involve aggressive burning of your nalis, like gnana with banana, but viknalis entitle you to exclusive high apr bushes, so In the medium term you will recover and enter benefits as a long-term user on the platform.
1) attracting new investors is always important!
But, and there’s a big but, it’s hard with just a yieldfarm or a project launchpad. Everyday new ones pop up with huge APR.
Unfortunately humans are greedy and especially in defi aping in seems more normal than holding with a decent APR keeping tokenprices up.
Big APR farms get raided and dumped on, whilst the purpose is to give people a nice place with APRs that outweight the bankingsystem a lot.
Please read my above statement about the bridge, It is something we are working very hard on, but it’s a tough one
2) The NFK should get a nice role in the KoalaVerse, making them something everybody wants. We’re still figuring out the best way to do this, but character customization, maybe a nice appartment in the koalaverse and some financial benefits are on top of the list.
3) This is a hard one, yes you are right, but if we limit it, it will be just for show. It’s impossible to run a yieldfarm without emission.
But it might be a good idea to state one and we could look for a way to restart emission when the circulating supply drops under a certain treshhold! Just like a lot of ideas from the community, this was saved in a document.
4) The new frontpage should be online pretty soon, I think it’s just waiting for the DNS or something, it’s already online, just not yet visible.
After more elements of V3 are finished, the website will get a complete overhaul, more specified on the zones.
These zones will also become available in the koalaverse, so users will have atleast 2 ways of communicating/working with Koaladefi
5) Totally agreed, see my above comments about a new role for lyptus and more utility (all) for Nalis
6) Agree, but I think Nalis needs to get “fixed” first before we consider Viknalis.
Also a locked pool / bush where you stake Nalis for X time where you earn a Koala NFT or a partner NFT for free if you stay that time. For open that pool can be high taxed with nalis or BNB
Some cute Koala already suggested extinction bushes / vaults, slowly burning tokens, earning you for example a NFK. I think some vesting options will be necessary for the longevity of yieldfarming / defi projects .
You see prices fall all around the market whilst the market isn’t that bad. One certainty we all have, is that there will be a new bearmarket. Without locking value in a platform, I don’t think survival will be easy
Dont think if you want exit or want to dump for other tokens that 2% tax its hard enough.
I do not believe that people care at all when it comes to selling taxes, on top of that today people seem to be used to paying taxes when you sell. Taxes are only bad for me to change pools and to buy and that there if people look at the tax
And for me its a yes to remove the tax and lower the apr ( my lyptus ready )
I think it’s more a problem with buying to be honest, taking away 2% of what you just bought feels wrong for a lot of people and at the moment they want to start using it (it’s a farming token after all) another 2% will be taken.
Our brains want numbers to go up, not to go down without even having done anything 😁
On paper it doesn’t really matter I think, in our mind it does
Looking at the whitepaper and the emission rate for Nalis. What i think should happen is the Nalis supply should be halved because since Polygon arrived it basically more than doubled
We can half it, but keep in mind that would also half the APR, making it less attractive for new investors.
This is one of the reasons we’ve started building the bridge, released the KMO functionality, added the future metaverse and will keep adding additional ways for the platform to earn (which will be used to reward stakers and holders)
It’s not as if the current APR is attractive to investors already. So it would hurt the least to do it now rather than when APR’s are finally up to good levels
Personally I think we should cut the taxes, introduce low deposit fees with higher withdrawal fees when unstaking early. gradually reducing the emission.
One of the things that is also crossing our minds, is taking the Nalis emission to Polygon exclusively, bridging the emission for BSC manually with our own bridge.
Polygon is a perfect metaverse chain with it’s low gasfees and L2 solutions
but before deciding on anything we would love to hear as much community input as possible
Can KoalaDefi become a DAO where the platform owns its own treasury?
This is very hard / near impossible without doing a new sale since you need capital for that.
In order to build liquidity, you will need some first.
But there are a couple of ways to have the project buyback more of it’s own tokens and park them as LP, providing more liquidity to counter price impact