KuSwap Updates: Massive Burn Proposal, KuSwap 3.0 Vision and Farms/Pools Migration
We have exciting news to share with you all. We have been working extremely hard to bring you these updates.
At KuSwap, we are committed to developing the KUS ecosystem. Evidently, in the current state of DeFi, protocols are siloed from one another, holding them back from realizing their full potential. Therefore, we are building towards DeFi’s future; KuSwap will be the largest interoperable DeFi ecosystem.
Over the past weeks, we have wrapped up significant development for KuSwap. Upcoming major developments for the KUS ecosystem include but are not limited to, Leverage, Lending, and Options Strategies. At least 50% of fees generated from these products will be rewarded to the KUSGov stakers in KCS.
We’re very excited about competing in the KCC Unicorn contest, KuSwap’s upcoming products, multichain partnerships, and everything else that will come with the KuSwap interoperable plan in the coming weeks.
What You Need to Know
To start off, since KuSwap launched, we have removed 1,834,445.43 amount of KUS from circulation through monthly burning.
KUS, unlike other AMMs, is designed to be deflationary because KuSwap is not just an AMM but a complete DeFi ecosystem. After more than 7 months of activity in KCC, we propose that we reduce the hardcap to adapt to KCC network’s challenges and prepare the platform for multichain activities.
The Quarterly Burn Proposal
As most of you know, KuSwap is preparing for its biggest burn event. As promised, the quarterly burn proposal seeks to improve the tokenomics of KUS. A proposal will be proposed via KUSGOV to burn 100M KUS from the supply.
Please head over to https://snapshot.org/#/kusgov.eth/proposal/0x927f3aa6d1bccb41d562f4ea72d99bab740e67339a8f051626865288fe5b5bee to vote in favor of this proposal (voting starts in 60 minutes)
The v1 Farms and Pools Migration
- V2 Pool rewards are active, stake your KUS in v2 Pools https://app.kuswap.finance/#/pools-v2.
- On Monday 6 UTC, v1 farms and pools will stop emissions, and their v2 counterparts will get a 2x boost.
- After Monday 6 UTC, you must be in the v2 farms and pools to harvest rewards. Please migrate your farms and pools as early as possible.
Don’t worry if you forgot to migrate to v2 farms or pools; you can do so at any time in the future but without harvest. In short, your liquidity will always be secure and ready for migration.
How to migrate from v1 to V2
Step 3: Stake in v2 Farms
Head to v2 farms https://app.kuswap.finance/#/farms, find your v2 pool and stake the LP tokens:
Feel free to reach out in our official support group https://t.me/KuSwapSupport with any comments or questions.