đĄī¸The KUNAI token
KUNAI tokenomics and issuance
The KUNAI token is a governance token used to govern the Ninja Garden ecosystem. We seek to distribute KUNAI tokens to like-minded individuals who believe in the garden, and wish to help govern it.
KUNAI Issuance
We issue KUNAI to the following groups of users interacting with our protocol:
Key traders: 20% of emissions are reserved for traders. KUNAI is issued out to traders. For every INJ in profit generated, we issue out 1.15 INJ worth of KUNAI to traders. This emission rate will be reduced over time as the garden gets bigger. This means that early entrants to the garden get to earn by trading keys.
Key holders & Room owners: 20% of emissions are reserved for key holders and room owners. All INJ are converted into gINJ to immediately start earning yield. Key holders are rewarded for simply holding their favourite keys (without trading). Room owners are rewarded for incentivising key holding. KUNAI is airdropped to both key holders and room owners commensurate with the amount of TVL contributed to gINJ.
gINJ-INJ liquidity providers: 10% of emissions are reserved for gINJ-INJ liquidity providers. This liquidity pool is ideal for INJ maximalists who want to maximise their yield while minimising impermanent loss. Liquidity providers stand to earn trading fees, KUNAI emissions, as well as gINJ liquid staking yields.
KUNAI-USDT liquidity providers: 20% of emissions are reserved for KUNAI-USDT liquidity providers who wish to profit based on KUNAI volatility. To offset part of the impermanent loss resulting for providing liquidity, we issue out emissions.
Ecosystem development funds: 20% of KUNAI tokens are set aside for ecosystem development. This includes big ticket items such as CEX listing liquidity, DAO incentivisation, token swaps with existing projects.
Development funds: Only 10% is linearly unlocked and set aside for the dev team as funds to continue the development of the project. The dev team seeks to stake a majority of KUNAI tokens to earn protocol fees as a show of faith - your success is our success.
KUNAI Utility
Holders of KUNAI are key to our ecosystem. We have the following utilities for KUNAI holders:
Staking of KUNAI to earn gINJ protocol revenue share. See Protocol Specifications to see how we accumulate protocol revenue.
Staking of KUNAI to earn launchpool tokens. At the core of Ninja Garden, we seek to become an accelerator for external projects to go-to-market and build on Injective. As such, external projects can provide us their project tokens to gain exposure to Ninja Garden users. In essence, KUNAI holders can earn external project tokens simply by being a part of the garden.
KUNAI governance will be setup to allow KUNAI holders to make key decisions that will impact how Ninja Garden eventually pan out. This could include decisions such as tweaking fee rates, emission rates etc.
KUNAI Specifications
A total of 500 million KUNAI tokens will ever exist. Tokens are issued out linearly over time, and we will start off with an initial market cap of only 500k USD. Based on our revenue and utility model as specified in Protocol Specifications, we are confident that KUNAI will be a protocol that is > $500mil in FDV one day. This is especially as we scale up in size together with the entire Injective ecosystem to create the ultimate flywheel.
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