The bush : Next evolution!

Hey Koalas !

We released the bush functionality 6 days ago! Read more here about the beta of bush : https://koaladefi.medium.com/the-bush-release-40bf13742ce4

We can already say that the bush is a success!

Small recap since last week : Bush success!

We had more than 100,000 $LYPTUS stacked into the first BUSD bush during the week and up to 135,000 $LYPTUS staked some days.

The APR remains pretty good during the week and still around 500% when writing this blog post.

The stacking of so much $LYPTUS had also a pretty good impact on $LYPTUS price. It’s hard to say how much this has impact the price (going from around 0,1$ to 0,4$ when writing this blog post) but one thing is clear : $LYPTUS holders has significantly increase during the week!

Another pretty good point since the released of the first bush is that the TVL (total value locked) of Koala DeFi as more than double during the week (from around $200k to $500k).

So thank you Koala’s community to have make the beta of bush such a success!

Now, what’s next ? You thought that Koalas were sleeping this week ? no, we prepared you something cool ;-)

Next evolution : Bush V1

Disclaimer : This functionality is still on beta release!

Bush V0 (beta released last week) was a success but there’s always place for improvement in DeFi

We had work on releasing a new version of the bush. The V1.

What are the functionalities we added ?

1 ) Added the possibility to change the rewards per block :

What’s the rewards per block ?

It’s the number of rewards shared within the bush at each new blocks created on the blockchain. On the Binance Smart Chain, a block is created each 3 seconds. For e.g. : if the rewards per block is equal to 1$, the bush has $28,800 to distribute each day.

Why adding the possibility to change the rewards per block is necessary ?

This means that we will now be able to adapt the distribution within the bushes each week (yes, more bushes are coming, keep reading ;-) ). As the “money” we put into the bushes is coming from what we get from farms and pool deposit fees, the amount will vary from week to week (and of course, we hope keep growing each week!). Let’s take an example : We make each week a snapshot of the total amount of deposit fees received : from week 3 to week 4, the amount has increased by $10,000 , we can share a part of this amount within the bush. Again for the example, let’s take 50% of this amount and share $5000 into the bushes to reward our $LYPTUS holders. If from week 4 to week 5, the amount has increased by $20,000, we could share $10,000 within the bushes. That’s the reason, we need to be able to change the reward per block : The more the project will grow, the more we will able to distribute within the bushes and the more the reward per block should be increased

2 ) Added to possibility to change the end rewards block to program the end of a bush :

This functionality will be use to handle some partnership bush events. With this one, we will be able to program a duration for a bush and adapt it’s end date if necessary

3 ) Added possibility of having deposit fee when you deposit LYPTUS into a bush :

This one is probably the most important new features to the bush!

On our next bush, we will apply a deposit fee of 3% when you deposit your $LYPTUS. These deposit fees in $LYPTUS will be automatically eaten (burnt). This will be support more the burn program of our project. It’s an automatic burn: you deposit your $LYPTUS and 3% of them goes directly to the burn address of the BSC.

How do we plan to make the transition from V0 to V1 bush ?

This part is really important and will require some manipulations from our users. So please read it and don’t hesitate to ask for support on our telegram chat

With the release of the bush next evolution V1, when need to deploy new contracts on the blockchain.

For the non-tech and to keep it simple : if a contract is published on the blockchain, there’s no way to modify is code in the future. If you want to change features, you need a new contract.

End of BUSD bush V0

The actual BUSD bush V0 running into production on our website since the 13th March will be set inactive this Monday 22th March 9 AM UTC. Don’t panic, you will still be able to get back your reward and unstake your $LYPTUS from this bush. ;-) There will be an automatic harvest when your will unstake.

When the actual BUSD bush V0 will be set inactive, you will find it on the inactive tab of bush page, following this link.

IMPORTANT : Harvest function will be automatically done when you unstake your $LYPTUS before Tuesday 23th March 9 AM UTC. Again, don’t panic : The unstake function will be still available after the 23th March and we will keep it accessible as long as there’s LYPTUS staked inside. The only difference is that after the 23th March 9 AM UTC, you will not be able to get back your BUSD rewards. Your funds are SAFU ;-)

Start of new bushes V1 : BUSD and WBNB

On Monday 22th March 9 AM UTC, we will put our new bushes into production. We will open the game with 2 bushes : One bush to deposit $LYPTUS and earn $BUSD and one bush to deposit $LYPTUS and earn $WBNB. These new bushes will be available directly on the bush page into the active tab following this link.

For the non-tech and to keep it simple : WBNB is a wrapped BNB available on Binance smart chain and pegged to BNB price. This is the way to earn BNB but you always have to convert WBNB to BNB if you want to use them as gas on the BSC and of course, you can send them directly to your Binance account to trade them.

IMPORTANT : To keep earning rewards on bushes, you will have to unstake our $LYPTUS from the BUSD bush V0 and stake them into the new bush V1 of your choice (depends on the rewards you want to receive, we personally still bullish on BNB ;-) ).

We hope everything is clear and again if there’s any questions, please feel free to ask them into our telegram chat.