Tokenomics of $KVN
Last updated
Last updated
$KVN is the platform's utility and governance token, with a fixed supply of 289,000,000.
With a limited supply, the $KVN token is designed to have a deflationary effect, making it a valuable asset to hold. Additionally, the $KVN token will serve as the primary payment method within the platform, enabling users to access its features and services.
While the $KVN token will initially be hosted on the Arbitrum, we have plans to expand to other chains including migrating to our own blockchain in the future, which will enable us to offer more control over providing transparency and fairness for our stakeholder and users
Access to Aggregator API
For Online Casinos to access the Game Aggregator API, the Online Casino will be required to to purchase a Lucky Klover NFT as a license and stake a certain amount of $KVN tokens depending on the number of API calls made to Klover Network.
This staking mechanism will incentivize Online Casinos to manage their resources efficiently and avoid overburdening the network with excessive API calls. In doing so, we can ensure that the Klover Network remains scalable and accessible to all users.
Additionally, this mechanism will also ensure the quality of Online Casinos on Klover Network for a seamless experience for our players who are looking to have fun.
Real Yield Farming
Investors of the platform can purchase $KVN and stake them for returns. By staking tokens, users will earn rewards in the form of tokens that will come from a calculated percentage of the platform's revenue.
This percentage will be calculated as below and distributed at end of month as such:
where: R = Revenue pool (last month) S = Stake amount T = Staking tier multiplier L = Lock period multiplier n = Number of stakers
By tying staking rewards to the revenue generated by the platform, Klover Network can create a sustainable business model that mitigates the risk of overpaying stakers and crashing the token price, which has been a common problem in many other Web3 projects.
Collateralized Loan
Believers of the Klover Network project will have the ability to stake their $KVN tokens as collateral for a loan in another token to play casino games on the platform. This allows users to access the full range of games without having to sell their $KVN tokens
Lottery Draw
Every week, 10% of the casino's revenue will be shared in the jackpot pool. Users will be able to purchase tickets with $KVN. 50% of the ticket price will be burnt and 50% of the lottery ticket price will be sent to the jackpot.
Play Games & Buy NFTs
Players can use $KVN tokens to play casino games on the platform or purchase NFTs for casino games on Klover Network. Such payments on Klover Network will also have significantly lower transaction fees (< 0.1%) when using $KVN tokens.
DAO Voting
As Klover Network grows and evolves, our long-term vision is to transition to a DAO, where the community of $KVN token holders will have a say in the decision-making processes of the platform. This means that the owners of $KVN tokens will have voting rights on key decisions, such as which Game Providers to add to the platform, which features to prioritize, and which strategic partnerships to pursue.
By transitioning to a DAO, we aim to decentralize the governance of Klover Network, making it truly community-driven and empowering the community to have a voice in shaping the future of the Online Casino industry.
Building Loyalty with xKVN
Klover Network will reward active participants of the platform with a second token called xKVN. The xKVN token will act as a standard reward for all users who engage with the platform in any way, including simply playing games. This token will have its own set of use-cases within the Klover Network, including its ability to be converted into $KVN.
Burning $KVN
Klover Network will regularly burn $KVN tokens as part of its deflationary mechanism. Several activities such as buying lottery tickets, will initiate the burning process.
This burning of tokens is intended to gradually lower the overall supply of KVN tokens, increasing its value of investors. The Klover Team intends to regularly analyze and adjust the burning ratio to create a stable and sustained deflationary mechanism.
