Introducing the Sugar Program
When we first started KuKafe Finance, we wanted it to be community centric. By the community, for the community. We have always taken our community’s feedback very seriously, including the addition of new vaults; KuDex vaults being one of the highly demanded ones that we cracked our brains to implement.
We have had requests from the community to incentivise holders of $KAFE through rewards that are given in other tokens. Although we have had this planned from the get-go in terms of staking $KAFE for $KCS when our emissions end, this was a horizon that our community would like to see brought forward.
Hence we spent the next few days doing the numbers and silently preparing for the pilot launch of our Sugar Program.
TL;DR: Stake $KAFE in Sugar pool, earn $KUD for 7 days, starts 11 Aug 1700 UTC
Enter the sweetest place on KCC — Sugar
KuKafe Finance has matured gently and nicely over the last 12 days that we have launched, reaching key milestones such as crossing $2,000,000 TVL and burning over 6000 $KAFE worth to curb inflation. As the Kucoin Community Chain (KCC)) continues to growth, KuKafe Finance would like to support that as the largest yield optimiser in KCC. We will do this through Sugar.
Now what exactly is Sugar?
Sugar is a program that we have sought to create where holders of $KAFE can choose to stake their $KAFE tokens in the Sugar pool to earn other tokens that are available in KCC. We do this by utilizing the fees collected from the usage of our vaults to buy these tokens from the market over a period of time and distribute them to our $KAFE holders. In a sense, this is akin to bringing forward our plan for profit sharing to our $KAFE holders.
In doing so, we hope to achieve a couple of things that will benefit our stakeholders as well as the overall KCC ecosystem:
- Our stakeholders are now able to passively diversify their portfolio by earning tokens from other projects in KCC.
- Our stakeholders immediately gain access to profits generated by KuKafe Finance.
- Projects get exposure through the KuKafe community.
Kickstarting the Sugar program
To kickstart the Sugar, KuKafe will be launching a Sugar pool that distributes KuDex tokens $KUD to all stakers of $KAFE in that pool for a duration of 7 days with a fixed emission rate. KuDex have been strategic partners to the success and development of KuKafe Finance and have been a crucial early believer of the project. We believe that KuDex is moving in the right direction for KCC with multiple developments on their platform as well as the right tokenomics to springboard growth.
KuDex holders need not worry about the dilution of KuDex through emission as these are tokens that were bought by KuKafe from the market. KuDex did not in anyway mint these tokens for this Sugar Pool.
We sincerely hope that our stakeholders will enjoy the Sugar pool and we are honored to be able to contribute back to the larger KCC ecosystem through the Sugar program. When KCC wins, everyone wins together.
Sincerely,
KuKafe Baristas
Website: kukafe.finance
Twitter: https://twitter.com/kukafefinance
Telegram: https://t.me/kukafefinance
