Say hello to NOVA
The time has come to tell you more about the Komet ecosystem.
Summary
- Coingecko listing
- Uniswap launch, 24 hours so far
- Welcome to NOVA
- A bit more about KOMET
🦎 Coingecko listing
You can now access to all infos you need on Coingecko.
Don’t forget to add us to your favourites with the little yellow star.
🦄 Uniswap launch, 24 hours so far
We started trading on Uniswap yesterday at 11PM UTC, beware though there are fakes out there. As always refer to our website, telegram or our twitter accounts.
Just for good measure, here it is once more 🔢
Uniswap direct link to KOMET/ETH pair:
https://info.uniswap.org/pair/0x577349ecd462a369ab71908a260ae1e2d8982b74
A quick tally after 24h on Uniswap shows this:
- 24h volume close to $10M
- Total Liquidity $880k+
- Currently trading for 1 ETH = 4.51174 KOMET
Hello NOVA
What is NOVA ?
A voting token for investment and governance
- let’s you participate in the success of the project
- let’s you vote on investment bid
More to come this week.
Stay tuned.
Stake LP tokens to earn NOVA
Find below the steps explain in a short diagram.
Expected halving system
0 ~ 1 day Komet/Eth LP 1.5 / Nova 1
1 ~ 3 days Komet/Eth LP 0.75 / Nova 0.5
4 ~ 7 days Komet/Eth LP 0.375 / Nova 0.25
7 ~ 30 days Komet/Eth LP 0.187 / Nova 0.125
30 ~ 60 days Komet/Eth LP 0.093 / Nova 0.0625
60 ~ 100 days Komet/Eth LP 0.046 / Nova 0.0312
100 ~ 200 days Komet/Eth LP 0.0234 / Nova 0.0156
200 ~ 300 days Komet/Eth LP 0.0117 / Nova 0.0078
300 ~ 365 days Komet/Eth LP 0.0058 / Nova 0.0039
365+ days Komet/Eth LP 0.0029 / Nova 0.00195
Protocol Design
We utilize the well known and battle tested masterchef contract with rewards given out as NOVA token along with adjustments done to masterchef that lower rewards given out to whales (BUFF RATE inspired by narwhalswap).
The reward token, NOVA, is an ERC20 governance token to be used in the coming phases of Komet, it will be minted with a total supply 3x of Komet’s initial supply.
Virtuous Feedback Loop
Staking provides a built-in price support for KOMET, NOVA — upon unstaking, 50% of Uniswap fees accumulated while staked are kept to the protocol and used to buy KOMET/NOVA, sent to a developer fund.
This (similar in idea to the YFI vault strategy on YFI) keeps a steady stream of demand for both KOMET, NOVA and is a win for both the protocol developers and community.
User experience
Since we have always been keen on providing the best user experience possible, we will also provide a helper UI so potential stakers can get their Uniswap LP without having to manually go to app.uniswap — get LP token , stake all in 1 txn.
app.komet.finance is coming …
How to add liquidity to earn KOMET/ETH LP Token
1/ Join KOMET/ETH pair on Uniswap
2/ Add liquidity to the pool by choosing the amount you want to stake.
A 1:1 ratio is defined by Uniswap. It means you have to bring to the liquidity pool the same valuation of ETH and KOMET. For example, if you bring 2 ETH of liquidity, Uniswap will automatically fix your KOMET to 8 (if 1 KOMET = 4 ETH).
3/ Then, you have to “approve KOMET” and confirm by clicking on “Supply”. Then, just wait for the transaction.
As soon as it is confirmed, you are officially a liquidity provider.
A bit more about Komet
3,000 KOMET Team funds will be locked for a year (scheduled this week).
Airdrop for investors presale will be available tomorrow (Tuesday 11/24). Users will have access to a dedicated page to claim their KOMET.
Security
Our uniswap liquidity will be locked, LP token will be sent to a new account that has a time lock on it for X blocks — We will dogfood this as the initial usage of governance before opening up to community governance.
Multi-sig system (soon).
Oh and yeah check the pix below… this could be interesting.
