🌊Liquidity Generation Event (LGE)
This section explains the LGE event on the Kava Network
The first Pinjam ecosystem token will be launching on the Kava network via a Liquidity Generation Event. It will be the first step for users to enjoy the benefits of the Pinjam ecosystem upon the token upon launch.
When users participate in the LGE, they will be allocated their proportional amount of PINKAV tokens based on their deposits amount in the LGE -- all of which are claimable when the LGE ends.
This total PINKAV supply allocated to the LGE is 15%.
The breakdown of LGE token distribution will be as below:
5% of tokens go to initial liquidity
10% of tokens go to participants for LGE
50% of the LGE participant reward tokens will be unlocked instantly. The other 50% will be vested linearly over a year.
Benefits of participating in the LGE
Earn an additional 20% in PINKAV supply.
- If you participated with 100 KAVA, you'll receive 120 KAVA worth of PINKAV tokens at launch.
If your community is partnered with PINJAM you gain an additional 11% bonus when participating in the LGE.
- If you participated with 100 KAVA, on top of the 20% bonus above, you gain an additional 11% bonus totaling to 131 KAVA worth of PINKAV tokens at launch.
Participating in the LGE will entitle users a share of 5% from the total supply of our $PINDEX token in a future airdrop- learn more in our multi-chain expansion strategy
The breakdown of the fund distribution will be as such:
70% of funds go to the initial liquidity of PINKAV-KAVA pool
The remaining 30% will be allocated to ecosystem funds & partners, which is broken down as:
40% will be used to bribe the PINKAV-KAVA pool to incentivize liquidity
20% will be used to purchase VARA, locked as veVARA, and used to vote for our PINKAV-KAVA LP pool
40% will be used for audits, expansion, and runway for the team
The LP tokens received by the LGE contract will then be transferred to our Protocol-Owned DEX Liquidity contract, which will then be managed as described in that section.
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