Kaia Portal is now live!

From DeFi to on-chain gaming, NFTs and more, delivering seamless Web3 user experiences is a top priority at Kaia — UX is the key to making the rewards of Web3 accessible to all, not just the crypto natives. Beyond the creation of a fast and usability maximized Layer 1 blockchain, we’ve also created a messenger wallet that doesn’t require key management, and are now excited to announce the launch of Kaia Portal — the all-in-one DeFi destination for the Kaia ecosystem.

Kaia Portal lets you swap, bridge, stake, and on-ramp easily through its user-friendly interface on desktop, mobile, and in the near future, within LINE Messenger itself. Beyond common DeFi functions, a points-based rewards system will be added soon where you’ll be rewarded for participating in Missions across the Kaia DeFi and broader ecosystem.

In Epoch 1 of Kaia Portal’s Missions, you’ll enjoy attractive token reward opportunities by utilizing your Kaia through our DeFi partners. In the subsequent Epoch 2, attractive rewards will be given out when you participate in the Missions involving Kaia Wave program participants.

Further Epochs are in the works, all with the overarching goal of providing Kaia holders with convenient and rewarding ways to participate in the Kaia ecosystem. To learn more about the current Kaia Portal features that are live, please read on.

FNSA > KAIA Swap

On the “FNSA -> KAIA” tab of the Portal, you’ll be able to connect your existing Finschia and KAIA wallets to convert your FNSA tokens to KAIA. To ensure maximum security during the conversion process, it may take over 30 minutes to complete. During this process, you can monitor the conversion status in real-time under the “History” tab. For more information, please refer to the FNSA > KAIA Swap and FNSA On-chain Contribution Rewards Guide link.

40 million KAIA reward for FGP-23 voters

The 40 million KAIA on-chain contributor rewards will be distributed on September 12th. To prepare for this, you need to link the Finschia wallet that you voted with, and your preferred KAIA wallet that will receive the on-chain contributor rewards. To do so, visit the “Link to Finschia” tab and complete the wallet linkage by September 11th. It is important to note that you must link the KAIA wallet that you intend to use for the points mission. Once linked, this process cannot be undone, so we highly recommend that you link the KAIA wallet you plan to use going forward. Additionally, after September 12th, this linking process will be manually verified at one-week intervals, so please aim to complete the link before September 12th.

On September 12th, a “Claim” page, as shown in the image below, will become available, allowing you to claim your rewards with your previously linked KAIA wallet. These rewards can be claimed only between September 12, 2024, and December 11, 2024. Any unclaimed rewards will be used for missions in Epoch 2.

Kaia Portal Missions

Missions are designed to boost liquidity and user engagement within the Kaia ecosystem. We’re allocating up to 50 million KAIA tokens, alongside participating projects which will also be allocating their tokens. When you successfully complete Missions, you will earn points that can be converted into vested KAIA tokens and project tokens once the Epoch ends.

In Epoch 1, the Missions will revolve around providing liquidity to Kaia DeFi protocols, and the rewards will be:

1. Kaia points
2. Points from participating projects
3. D2I program rewards
4. Yield from DeFi protocols

New applications and DeFi use cases built on Kaia will expand the range of available assets and support increased volume, resulting in higher fees for liquidity providers and boosting ecosystem trading activity. This will create a flywheel effect, where increased activity and liquidity enhance the overall ecosystem.

Maximum Transparency

While many point systems are opaque about their rewards calculations, Kaia Portal Missions are designed to be maximally transparent, in everything from campaign duration to point calculation formulas as we believe that Kaia users deserve nothing less.

Campaign Duration

The Missions will officially begin on September 12th, and as of now, we have Missions planned for the following three months. During this period, additional airdrop opportunities, new participating projects, and asset boosts will be introduced with each Epoch.

Early Adopters

If you participate in the Missions between August 29th and September 26th — even if you deposit just $1 into any DeFi protocol listed in the Mission tab — the corresponding wallet will qualify for the Early Adopter boost which will add a 1.2x bonus multiplier to all points earned thereafter.

Rewards

Kaia Rewards

Up to 20 million KAIA will be rewarded to general participants based on milestones. Wallets that participated in the FGP-23 voting in the existing Finschia ecosystem will receive up to 30 million KAIA. This reward pool is separate from the general participants’ pool and is exclusively for wallets that voted in FGP-23. Users with long-term on-chain contributions in the Finschia ecosystem can receive a weighted reward of 10 million KAIA by participating in the Kaia Portal Missions, based on their contributions.

• 20M KAIA (10M for general participants / 10M for FGP-23 participants) allocated for the points airdrop
• 15M KAIA (5M additional KAIA for general participants / 10M KAIA for FGP-23 participants) unlocked at $100M TVL
• 15M KAIA (5M additional KAIA for general participants / 10M KAIA for FGP-23 participants) unlocked at $150M TVL

Vesting

• Tokens converted at the end of the campaign will be distributed over six months. When the campaign ends and a user claims point conversion (Kaia Points to Kaia Tokens), the Kaia Tokens will have a 6-month vesting period.

In addition, through the D2I program, participants can receive immediate Kaia rewards and project points without vesting.

*Vesting: Vesting is a process where you earn the right to receive full ownership of certain assets (like stocks or tokens) over time. It prevents you from getting all the assets at once, ensuring you stay committed to the project or job.

*Linear Vesting Over 6 Months: If you have 100 tokens with a 6-month linear vesting period, you don’t get all 100 tokens immediately. Instead, you get them gradually, say around 16–17 tokens each month for 6 months, until you have the full amount by the end of the period.

Partner Project Rewards

All participants will receive points from each partner in their respective Portal Mission.The criteria for points provision vary by partner, and details will be updated soon.

All projects participating in Kaia Portal Missions are required to have been audited by professional auditors and verified protocols, so you can safely participate with confidence.

Participating Projects

*Alphabetical Order

Capybara (DEX)

Website | Twitter | Docs

• Built by the Wombat team (backed by Binance Labs, Animoca, Shima, and Jump Crypto)
• Audited by Hacken, Peckshield, and Zokyo
• Capybara, launched using the technology of the multi-chain stable swap Wombat, introduces a new DEX on the Kaia chain that integrates a gamified point system, a launchpad, and an airdrop playground. Notably, the Capybara launchpad will be the first on the Kaia chain, acting as a direct bridge between the Kaia chain and global users. Capybara innovates the coverage ratio-based stable swap mechanism, removing scalability barriers, allowing participants in the Kaia ecosystem to utilize capital without the risk of impermanent loss. It also minimizes slippage, supports single-token LP tokens, and offers an ideal DEX for lending protocols and trading platforms, all supported by a user-friendly UX/UI. The official launch, including the $CAPY token, is expected to bring vitality to the Kaia ecosystem.

Dragonswap (DEX)

Website | Twitter | Medium

• Built by the Dragonswap team, audited by KALOS
• Dragonswap is currently the leading DEX in the Kaia ecosystem, offering both V2 and V3 liquidity provision features through an open-source protocol. It aims to redefine a sustainable DEX environment, focusing on community engagement with rich liquidity, high trading volume, and openness. The Dragonswap team is comprised of various ecosystem experts.
• Sustainability: Dragonswap currently has no native token. It aims to create a sustainable DeFi ecosystem by encouraging participation in the Kaia ecosystem through KLAY incentives and a points system.
• Rich Liquidity: Dragonswap secured at least $4 million in initial strategic liquidity and currently holds approximately $9 million in liquidity.
• Efficiency: With ample liquidity, Dragonswap provides fast transaction speeds and low fees through its V3 liquidity provision service.
• Community Initiatives: Dragonswap participates in the Kaia Foundation’s D2I program, dedicated to supporting the Kaia community and its users.

Kaiaswap (DEX)

Website | Twitter

• Built by the iZUMi Finance team (backed by Mirana, HASHKEY, IOSG, BIXIN Ventures, and more)
• Audited by Certik and BlockSec
• Kaiaswap, the first native DLAMM (Discretized-Liquidity-AMM) DEX on the Kaia chain, is based on the innovative technology of iZUMi Finance, which focuses on leading the decentralized finance sector with a strong emphasis on technology and user experience. By concentrating liquidity at specific price points, this AMM model achieves high capital efficiency. This approach aims to provide transparency, security, and an efficient on-chain experience within the sustainable and verified Kaia chain ecosystem. KaiaSwap will offer safer and more accessible DEX services on the high-performance Kaia chain, combining iZUMi’s unique DEX-as-a-Service solution with DLAMM, account abstraction, and multi-signature features, all with low gas fees.

*Participating projects may be updated continuously.

Incentive Design

Point Definition

A point is non-formally defined as:

• Kaia point = Liquidity pool (DEX, Lending) multiplier * Asset boosting multiplier * other boosting multiplier * user’s liquidity contribution (user’s TVL) * Time + Referral points
• Project point = Depending on the project’s point system policy

Providing liquidity to each project will allow users to earn Kaia points and project points simultaneously (additionally, referral points also).

More formally, Kaia point is defined as:

Multiplier Explanation

*More project pools, assets, and other multipliers will be added during the campaign.
*Each multiplier number can be adjusted during the campaign.

Liquidity pool multipliers

Different risk levels associated with each DeFi’s characteristics are accounted for in the reward multipliers. For example, a USDT-USDC pair pool in a Decentralized Exchange (DEX) has very low volatility due to the stability of the assets, thus lower risk and lower reward multipliers. Conversely, a KAIA-USDT pool has higher risk due to KAIA’s price volatility, warranting higher reward multipliers. These multipliers are set based on thorough research of existing Kaia and other chains’ DeFi APR data but may be adjusted for optimization during the campaign.

Notes

• If a DEX uses a model where users select a price range for liquidity provision (e.g., Kaiaswap), users will only receive point rewards when supplying liquidity within the current price range.
• When depositing assets into a DEX pool, you may be exposed to impermanent loss if the prices of the assets fluctuate significantly. For an explanation of impermanent loss, please refer to this link.
• For DEXs that use a model where users select a price range to provide liquidity (e.g., Kaiaswap), users receive more point rewards when they supply liquidity closer to the current price range.
• Lending protocol: No point rewards for additional liquidity supplied through recursive borrowing. For example, depositing $100 USDC, borrowing $80 USDC, and redepositing would only reward points for the initial $100 USDC.

*At the time of the launch on August 29th, only the liquidity pools based on stablecoins from the list below will be supported initially. The other pools listed below will be supported gradually.

Supported Assets and Multipliers

Initially, the following assets will be supported, with more to be added later:

Other Multipliers

Various multipliers beyond the liquidity pool and assets will be added during the campaign.

Referral Points

To encourage participation with friends, we have also created referral points. Person A, who invited person B, will receive an additional 10% of the points accumulated by person B. Referral points are only credited for people directly invited by the user. For example, if B, who was invited by A, invites a new person C, a portion of C’s points will not be additionally credited to A.

FAQ

Q: How can I bridge to Kaia?
You can transfer tokens from an external chain to the Kaia chain through the ‘Bridge’ tab on the portal. (Both Stargate and Wormhole bridges are supported.) Please make sure to check which assets are supported by the liquidity pool of the DEX where you intend to provide liquidity! For example, even though it’s the same USDC, ‘USDC sent through Stargate’ and ‘USDC sent through Wormhole’ are treated as different assets.

Q: How can I earn points?
You can earn points by participating in missions. Points are calculated and accumulated every hour based on the level of your participation in the missions. The more liquidity you provide to participating projects, the more points you can earn. In particular, providing liquidity to pools with higher risks of impermanent loss, such as the KAIA/USDT pair on DEXs, you can earn more points.

*Tip: You can earn points faster by applying the Boost effect. The Boost effect is applied when you hold certain assets or meet various conditions.

Q: What are the point rewards?
By providing liquidity to the projects in the Portal Mission, you can receive Kaia points, points from participating projects, D2I program rewards, and DeFi protocol earnings as rewards. Regarding Kaia points, the rewards are distributed as follows:

• Kaia Rewards: Up to 20 million KAIA will be rewarded to general participants based on milestones. Up to 30 million KAIA will be rewarded to wallets that participated in the FGP-23 vote in the existing Finschia ecosystem. This reward pool is separate from the general participant pool and is exclusive to wallets that participated in the FGP-23 vote. Users with long-term on-chain contributions in the Finschia ecosystem can receive up to 10 million KAIA in weighted rewards by participating in the Kaia Portal Mission, but they will not receive rewards if they do not participate.
• An initial allocation of 20 million KAIA (10 million to general participants / 10 million to FGP-23 participants) is set aside.
• If TVL reaches $100M, an additional 15 million KAIA (5 million KAIA to general participants / 10 million KAIA to FGP-23 participants) will be allocated.
• If TVL reaches $150M, an additional 15 million KAIA (5 million KAIA to general participants / 10 million KAIA to FGP-23 participants) will be allocated.
• Vesting: Tokens converted at the end of the campaign will be distributed over 6 months. When the campaign ends and users claim the point conversion (from Kaia points to KAIA tokens), the claimed KAIA tokens will have a 6-month vesting period.

Q: Where can I claim Kaia points after the Epoch ends?
You can claim them by connecting your wallet through the ‘Claim’ menu under the ‘Mission’ tab.

Q: Is there a set period for claiming Kaia points?
Yes. Please be aware of the claimable period after the Epoch ends, and be sure to claim your points within that period. Once the claim period has passed and a new Epoch begins, you will not be able to claim Kaia points accumulated from the previous Epoch.

Q: Where can I check and claim project points other than Kaia points?
You will soon be able to check each project’s point policies via the updated link. Project points can be claimed on the respective project’s page.

Q: Can Boosts be applied simultaneously?
Yes. If you are an early Portal participant (1.2x boost) and receive another 1.2x boost, they will stack, giving you a total boost of 1.44x (1.2 * 1.2).

Q: When is the Epoch (points accumulation period)?
The Epoch will start on September 12, 2024, two weeks after the Portal launch, and will last for three months.

Q: It seems there is an issue with point accumulation. What should I do?
Point accumulation may take some time. Please check the accumulation history again after at least an hour. If there is still an issue, please contact us at portal@kaia.io.

Q: I have suggestions regarding the Portal. Where can I submit them?
Suggestions are always welcome! Whether it’s improvements, bug reports, or any kind of feedback, feel free to report them to portal@kaia.io.

Q: I missed the airdrop period. Will there be another chance for airdrops?
Yes! There will be more airdrop opportunities and new asset boosts offered throughout the project period.