The bush : Release
Hey Koalas !
We’re happy to announce the start of our bush functionality on this 13th March!
Disclaimer : This functionality is on beta release!
What’s the bush ?
The bush is a new part of KoalaDeFi and is available in the menu or following this link
The bush is a place for $LYPTUS holders. A place to deposit $LYPTUS to make them work and earn another coin.
Inside the bush, we will put in place different pools. Two type of pools :
A) Bush pools to distribute back a part of the collected deposit fees.
This type of bush will be loaded with tokens coming from the koala deposit fees address. This deposit fees address collect the deposit fees from non LYPTUS farms and pools (you can see a “deposit fee” on some farms and pools).
This is a way to redistribute value to $LYPTUS holders.
The first opened pool is a pool to earn BUSD. We will charge this pool with $5000 BUSD and we have programmed 0,025 BUSD per block, so around $720 BUSD to be distributed daily into the pool. The pool will be empty after 7 days at this rate. After 7 days, we will look at the results before deciding to reload the pool again. We can’t promise that $5000 BUSD will be distributed each week to token holders for now. This will depends on the success of this action and how much deposit fees we will collect during the week.
For now, we will distribute BUSD and will review the success of the bush after one week. If results are good (visible on $LYPTUS price), we will continue one more week with BUSD and ask the community to vote the next token that they want to earn into the bush pools.
Don’t ask us what will be the APR for this pool, we have no idea. It will depends on how much $LYPTUS will be loaded into the pool.
Note : For bscscan fans only : ;-) We will only load $1000 BUSD to start before loading the total of $5000 BUSD. We want to be sure that the system works fine on the first day before loading the total amount.
B) Bush pools to distribute back partnership tokens.
This type of bush will be loaded with tokens coming from partnerships. For now, we don’t have conclude any partnership. We have reach and talk with other project like saltswap for example but we’re facing a problem to conclude partnership with them. They can provide us their tokens but with a multiplier related to both TVL. So if saltswap as a 10MTVL and koaladefi a 200kTVL, the ratio will be ridiculous and we will get only very few $SALT tokens to load into the pool. To make this partnership a reality, we first need to bring more investors and grow the koaladefi TVL.
When starts the bush?
The contract is deployed for the first LYPTUS/BUSD pool and the start block is 5640000 which means in real time this Saturday 13th March around 8 AM UTC.
Here is the contract code :
https://bscscan.com/address/0x96960e759a02FB2ca3F5ddb972AB8f08ce00b85c#code
And a countdown to the start block :
The website is already updated and you should already view the first bush’s pool.
You can already deposit your $LYTPUS inside the pool but no BUSD rewards will be distributed before block number 5640000
Is this new contract audited ?
No. This contract is not audited and will not be part of Certik audit because it was release after the start of the audit.
This contract is based on PanCakeswap smartchef contract and adapted for $LYPTUS.
