Oct 7, 2021
KUSDAO, KUSGOV and Governance Forum Launch
What is KUSDAO?
The KuSwap Decentralized Autonomous Organization or KUSDAO is the main governance element of KuSwap. Through this DAO, parameters of the platform and other major decisions will be made by those who have invested in KUS. By locking in KUS tokens through the governance area of the site, users will receive KUSGOV tokens.
The system is inspired by Curve and as such, it is designed to benefit those who lock more tokens and those who lock their tokens for long periods of time.
KUSDAO empowers and gives more control and benefits to long-term investors. The idea is that users who lock more tokens and for longer periods should have more say in the decisions that would benefit the whole platform.
Getting KUSGOV Tokens
Getting KUSGOV tokens is straightforward. A user would have to lock KUS tokens for a minimum period of 30 days and a maximum period of 3 years. The formula to get the amount of KUSGOV tokens you will get by locking KUS is:
Amount of KUS Locked x (Number of days locked / 1095 days) = Amount of KUSGOV Tokens received
Benefits of the KUSGOV Token
- Governance. KuSwap will be governed by KUSGOV and as such. It is only logical that this primary purpose be delegated to those who have locked more tokens and for a longer period of time.
- Farming Bonus. A farming bonus for all V2 farms will be given to those who hold KUSGOV tokens using the following formula:
Boosted APR = Current APR × kusGov balance / kusGov supply × 2.5
- IDO allocation. For future KuSwap IDO’s, 60% to 80% of the tokens available for sale will be reserved to KUSGOV holders.
- Bonus Multiplier for community & partner pools
KuSwap Governance Voting
- In order to vote on the KUSDAO, users need to have KUSGOV Tokens.
- To acquire KUSGOV tokens, one has to lock KUS for at least 30 days (max is 1095 days).
- The longer you lock, the more KUSGOV you will get.
- To claim back your KUS, you will need to sacrifice your KUSGOV tokens
- Anybody with 50 KUSGOV would be able to create proposals on KuSwap’s Snapshot https://snapshot.org/#/kusgov.eth/create
- There is no minimum KUSGOV required to vote on proposals
KuSwap Governance Forum
All governance proposals will be discussed via the KuSwap Governance Forum which can be found here. Ideally, before a proposal is submitted, it should be discussed first on Governance Forum.
If you are not very knowledgeable on the technical aspects of submitting a proposal, you may ask for help from the team or discuss the idea in the forum.
Governance of a platform that is as ambitious as KuSwap is a task best reserved to those who have invested the most in it. The key to good governance is for the community to discuss these things with the best interests of everyone at heart.