Post-Swap Karma Finance Token Update

Swap Complete

The KFI token swap is now complete. Everyone who held the old KFI tokens at the time of the snapshot should now have the new KFI tokens in their wallets.

Please add the new contract address as a custom token to see it in your wallet: 0xF19Ed2025eFfdb2b22d1376c09b4884F26475DD1 (18 decimals)

Return to the ALPs

We have our Angel Liquidity Providers (ALPs) to thank for the existence of this community-supported and governed project. All of the ETH they so graciously provided, a total of 41.48391684, has been returned to their wallets from the liquidity pool.

The first KFI token allocation for ALPs has already been sent, and will continue to be sent in batches over approximately 40 transactions until the end of October in the order in which their transactions were received.

Add Liquidity to Support the Project

ALPs (and anyone else) are welcome to provide additional liquidity in the Uniswap pool here.

Token Locks

Most of the 513,000 KFI tokens have been locked in 3 contracts.

  1. Community Reserve — allocation of 155,000 tokens
    -85% locked for one year (131,750 tokens)
  2. Team Reserve — allocation of 155,000 tokens
    -100% locked for one year (155,000 tokens)
  3. Development Reserve — allocation of 155,000 tokens
    -85% locked for one year (131,750 tokens)

Liquidity Lock

Liquidity has been locked on Uniswap until September of 2021. Refer to https://www.unicrypt.network/pol-dapp/0x32F6405eF80137C5E23bD83f258d0cE3cE07F58e

The Purpose of the KFI Token

Please note that the KFI token is a utility token, not an investment or security. KFI tokens are tokens for governance and access to features of the Karma Finance protocol.

We will soon be introducing a forum for the first Karma Improvement Proposals.

Next Steps

This month we plan to introduce a new community manager, get our CoinGecko, Etherscan, and CMC pages completed, announce the general roadmap, begin marketing efforts, and continue developing the Karma Finance protocol.

Though we will promote a little more over social media channels, we don’t want to attract too much attention before the protocol is actually released. (One can really only create one fake token to throw the sharks off of the scent of fresh crypto meat!)

We currently have ~13 ETH to work with today, which we will certainly use very wisely.

The Karma Finance story is a unique one, and we sincerely thank you for being a part of this journey!

Official Links

Website| https://karma.finance
Telegram|https://t.me/karmafinance
Official announcements|https://t.me/karmafi
Twitter|https://twitter.com/Karma_Fi
Blog|https://medium.com/@karma.finance

Securities disclaimer

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A blockchain-based mechanism that provides incentives to private individuals acting in their own best interests to fund a decentralized UBI scheme.

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