Kawakami Compensation Plan Update

Hi everyone, following our successful token contract relaunch earlier this week, the Kawakami team is now working on the compensation plan for everyone affected by what happened earlier. Following is the plan on how and when this will take place:

Claiming your KAWA manually

We expect the developers to complete the claims portal on Monday, February 28. The exact time of claims portal going live will be shared after checking in with the developers.

From the moment of going live, the claims portal will be live for 48 hours. The benefit of claiming your KAWA is that you receive it before we begin sending the airdrops. Those who claim their KAWA are also eligible to receive a unique NFT that is part of our Kawakami (genesis) backstory — we talked about this in the past, for more info on the backstory please ask on our Telegram or Discord channels. This particular NFT will only be obtainable by claiming your KAWA and holding the claimed tokens (not selling) for at least 2 weeks. It is being awarded as a sign of gratitude for helping the team lower the costs of the airdrop. The only downside to claiming is that you will have to pay the gas to claim it, which would probably be in the $10 — $25 range depending on the Ethereum network fees at the time of claiming.

TL;DR

  • Claim portal to go live and be open for 48 hours
  • You get to claim before the airdrops
  • You receive a unique Kawakami NFT if you hold for 2 weeks minimum
  • Gas fee will have to be paid for claiming.

Receiving your KAWA airdrop

Once the claims portal is closed, we will begin to airdrop everyone who had KAWA v2 token (contract address for Ethereum here, and for Binance Smart Chain here). This process might happen in a few batches, depending on how expensive it is to airdrop at the time (depending on the gas fees), but we estimate that all KAWA will be airdropped by end of Friday (March 4).

Addresses eligible for the KAWA airdrop

  • KAWA v2 holders on Ethereum before the farm hack
  • KAWA v2 holders on BSC before the farm hack
  • KAWA v2 stakers before the farm hack
  • KAWA liquidity pool stakers before the farm hack (we’ve manually checked the KAWA and ETH provided for the liquidity and will reimburse them separately, with KAWA getting airdropped/claimed and ETH being sent after the KAWA airdrops are done).

The airdrops will simply be sent from the Kawakami Development Fund address to your wallet address, the same one that was holding KAWA v2 at the time of the hack. There is nothing you need to do or pay to get the airdrop. The only thing you may want to do is add the new contract address to your wallet so you can track the asset. The contract address to add is:

0x5552e5a89a70cb2ef5adbbc45a6be442fe7160ec

Here’s a guide on how to add a new asset to Metamask.

KAWA v2 holders on Binance Smart Chain (BSC)

We intend to compensate the BSC holders on the ETH network, as that is the only chain where KAWA v3 is trading on at the moment. All BSC addresses should exist on the ETH side too.

IMPORTANT: If you are not able to use your ETH equivalent of the BSC address and receive your KAWA on BSC for any reason, please send us an email, message on Twitter or send a direct message to any team member on Telegram or Discord and we will look into it and come up with an alternative solution.

Please note that KAWA v3 will not be trading on BSC again for at least a few more weeks. If you still insist on keeping your KAWA on BSC, we will airdrop you there once the BSC side is active again but make sure to send us a message so we can exclude you from the ETH airdrop.

IMPORTANT: The current token contract has a max wallet limit of 2% of the supply per wallet. If you held over 2% (20b KAWA) in a single wallet at the time of the hack, please send a message to a team member so we can split this allocation to 2 of your wallets.

xKAWA v2 compensations

The team is still discussing several options on how xKAWA holders and stakers will be compensated. One of the solutions is to create a fair xKAWA > KAWA conversion calculation and airdrop the xKAWA investors with the KAWA tokens, instead of launching xKAWA.

We will finalize the proposals and calculations next week (first week of March) and present them to the community so you can all vote on the best way to handle this. Depending on the vote outcome, we expect to compensate xKAWA holders in March (date to be announced once we know what solution we’re going with). xKAWA LP stakers will be handled the same way as KAWA LP stakers, by checking their contributions manually and sending the tokens + ETH.

Non-native pool staker compensations

The non-native token stakers will start to receive their tokens back on March 1. This will be done in stages as we collect more money through contract tax, contributions and team member donations. As our partner and the most affected farm pool, SHIBGF stakers will be receiving their tokens first.

These are the tokens and amounts to be paid:

  • SHIBGF: 16,970,079,829,923
  • SAITAMA: 1,219,359,580,450
  • KISHU: 5,534,942,174,022
  • SHIB: 174,922,490
  • FLOKI: 108,078,068

Please note that we are not in a position to compensate every single staker in the first week of March but know that we are prioritizing this and expect to be able to pay everyone by the end of March.

KAWA compensations on LBank

The team has sent the LBank allocation of KAWA to the LBank team and are waiting on them to enable trading. As soon as it’s done we will announce on our channels.

Once again, thank you to our Kawakami community, our awesome partners and their community, SHIBGF, and all the other affected stakers for the incredible support, understanding and patience in the past couple of weeks and the days to come!

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Kawakami

Kawakami

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The decentralized ecosystem for meme tokens fueled by the KAWA token on the Ethereum network. Join our community: https://discord.gg/kawakami