Neon ecosystem.
I participate in the new ecosystem. I'm telling you what they wrote about themselves. I liked it and I will try to get an airdrop from here.
As a DeFi protocol, Keller aims to function as the fundamental liquidity layer in the Neon EVM ecosystem, propelling the adoption and growth of the chain. Moreover, it strives to act as a gateway linking Neon and Solana, serving the needs of both users and liquidity.
Keller strives to provide a seamless and user-friendly experience, harnessing its innovative capabilities and intrinsic market value. Notably, we have incorporated and enhanced some of the cutting-edge features present in existing decentralized exchanges.
Learn The Basics
Why Neon EVM?
There so many reasons to be honest. Everything is outlined and detailed in our Documentation.
What’s Keller native token?
KELL (token is not deployed yet. STAY SAFU!)
What kind of AMM is Keller?
Keller is ve3.3 AMM, which means that the basic AMM’s services (Swap & Liquidity Provision) come with an additional system build on top that enhances the whole protocol, and which is commonly called Voting Escrow, which gives life to another 3 key features in the app: Lock, Vote & Bribe.
How does the Voting Escrow mechanism works?
It allows for the native token to be locked into a veNFT, which is then used for the Emission’s Governance, upon which every veNFT holder’s active involvement grants them with weekly rewards in the form of Trading Fees, Bribes & Rebase.
What’s a veNFT(Voting Escrow NFT)?
In simple terms it is a container that holds a bag of X amount of KELL locked within.
What is veKELL?
When KELL is locked inside a veNFT, it is considered as veKELL by the Voting Escrow system.
What is veKELL used for?
veKELL represents Voting Power (weight over the Emission’s Governance).
What do I want voting power for?
In summary, the more veKELL you have the higher your voting power will be, which means that the weekly rewards you’ll get for actively participating(voting) in the Emission’s Governance will be greater as well.
How does the Emission’s Governance works?
Every week, there will be a X amount of KELL distributed among the pools that receive votes from veNFT holders during the previous week.
- If a pool did not received votes, then it won’t receive emissions next week.
- The more votes a pool receives, the bigger the share of emissions it will get next week.
- The bigger the share of emissions a pool gets, the higher its APR % will be next week.
Advance Knowledge
Alright, so locked tokens are essentially Voting Power and they make you earn more rewards. So…
What other underlying reasons make it appealing to increase your veKELL holdings?
Whether you are a user, another protocol, or the chain, there will be different reasons as to why you would look to increase you Voting Power in Keller.
For users:
- More Voting Power means a bigger share of the weekly rewards (fees of the pools they voted for + any bribes added to those pools).
- By locking & voting, users would be supporting the protocol and actively participating in the voting every week. By doing it so, they could generate a constant weekly cashflow made of fees and bribes.
For Protocols:
- The more votes their pool gets >> the more emissions they will earn >> the more APR their pool will have >> the more stakers it will attract >> the more they will grow their liquidity >> the more their token’s price will rise.
- Their pool receives 100% of the fees its generates, and it distributes them among voters, including themselves.
- It is pretty common that some protocols choose to continuously lock all their KELL emissions to keep on growing their veKELL balance, and only focus on earning Fees, plus any Bribe Matching Incentives offered by the AMM.
For the chain:
- Maintaining the APRs % as attractive as possible in core ecosystem pairs is key for any network growth. In this case, for example: wNEON/wSOL , wNEON/USDT , wNEON/ USDC + any main KELL pair, could be the case. Focusing efforts on this would in return contribute to a similar domino scenario as mentioned above in the protocols 1st item.
- 100% of the fees those core pools generate would be distributed among voters of said pools. If the chain holds a veNFT position as well, and votes for them too, it could generate an extra revenue by earning those fees.
- Supporting a liquidity marketplace like Keller is key to attract partners protocols that would like to expand to Neon and build up liquidity on chain, by consequence bringing their community along. In simple terms, another domino effect.
So how much is 1 veKELL worth?
1 KELL is not always worth 1 veKELL. Here is a small table for reference:
- 1 KELL locked for 1 year = 0.25 veKELL
- 1 KELL locked for 2 year = 0.50 veKELL
- 1 KELL locked for 3 year = 0.75 veKELL
- 1 KELL locked for 4 year = 1 veKELL
The locking period you choose when locking, directly affects you voting power. Choose it wisely.
Summary
The whole lock-vote-earn system explained above is commonly refer in DeFi as The FlyWheel Effect. We call it Lock & GovEarn.
Here are a couple of graphics intended to hopefully brake it down as simple as possible for :