Champion Finance EVIC LP Farms & Boardroom Launch

August 31 update – the team has delayed genesis launch by 1 week to wait for audit results, thus delaying this launch as well.

New algorithmic stablecoin pegged 1:1 to ETH on Avalanche.

This is the launch of the second peg token in the Champion Finance multi-peg ecosystem, following the launch of the AVAX pegged; $AVIC. All peg tokens are maintained by the same share token; $CHAM.

DETAILS

• LP Farms
  • Duration: 12 months
  • Stake LP tokens in the farms to earn $CHAM
  • $CHAM distributed across the following pools;
    • 30% — $AVIC / USDC LP pool
    • 40% — $CHAM / USDC LP pool
    • 30% — $EVIC / WETH.e LP pool
  • No deposit or withdrawal fee in the farms
  • Boardroom opens at the same time as LP farms
  • $CHAM earned can be staked in the Boardroom to earn $EVIC, or used to create $CHAM/USDC LP and staked back in LP farms or in LP Node pools (which opens 1 week after Boardroom) to earn more $CHAM

• Boardroom
  • Stake $CHAM and/or $EVIC / WETH.e LP in the Boardroom to earn $EVIC
  • During expansion, newly minted $EVIC rewards are distributed as follows;
    • 65% — Reward for $CHAM Boardroom stakers
    • 10% — Reward for EVIC / WETH.e LP Boardroom stakers
    • 15% — Protocol Owned Liquidity fund
    • 10% — DAO fund
  • Boardroom only prints new $EVIC when TWAP > 1.01
  • Epoch duration: 6 hours
  • Staked $CHAM locked for 6 epochs and $EVIC rewards locked for 3 epochs

• Tokens
  • $EVIC is the algo-stable, pegged 1:1 to WETH.e
    • Initial supply: 15
      • 12.75 — Genesis farming
      • 0.75 — Airdrop to $AVIC Node holders
      • 1.5 — DAO fund
  • $CHAM is the shares token (across all peg tokens)
    • Total supply: 72,001
      • 61,200 — LP Farm & Node rewards (vested linearly over 12 months)
      • 5,400 — DAO fund (vested linearly over 12 months)
      • 5,400 — Team fund (vested linearly over 12 months)
      • 1— Pre-mint for initial liquidity
  • $CHAM is also the governance token and holders have voting rights on proposals
  • No bond mechanism
  • Token ownership renounced for $CHAM [tx]

• Features
  • LP Node pools (opens 1 week after Boardroom)
    • lock up LPs in node pools for 3 months and earn daily $CHAM rewards at 1-3% daily APR
    • 50% early withdrawal tax, if withdrawn before lock up period ends (fees sent to Protocol Owned Liquidity)
    • Referrer bonus: 3% of deposited value of referral
  • Rebate (bond mechanism for building Protocol Owned Liquidity)
    • deposit bonding assets such as; BTCb/WETH.e/USDC/USDC.e/WAVAX/MIM, and receive peg tokens at a discount
    • rebate opens when TWAP > 1.01
  • WETH.e single staking pool (opens 1 week after Boardroom)
    • lock up WETH.e for 3 months and earn $CHAM at a fixed 100% APY
    • 50% early withdrawal tax and loss of interest, if withdrawn before lock up period ends
    • 5 day rewards claim period after lock up period ends, and if not claimed, rewards auto-compounded and the 3 months lock up period is reset
    • Referrer bonus: 3% of deposited value of referral
  • Rebase mechanism
    • used to support $EVIC peg by reducing the circulating supply of $EVIC when either of the following conditions are met;
      • TWAP is at or below 0.8 at an epoch
      • TWAP has been below 1.00 for 10 consecutive epochs (6 hours/epoch)
    • Excluded from rebase – unclaimed EVIC rewards in genesis; $EVIC in WETH.e single side staking pool; $EVIC in DAO and Protocol Owned Liquidity wallets

• Roadmap includes launch of BTC pegged token; planned for the end of September, launch of USDC and WETH.e single side staking pools and LP Node pools

Related Posts