Hey KAWA community, we’d like to announce our plans for the month of July and our activities planned for the next few weeks, as well as some updates on the changes to the project and farm.
KawaFarm
After the initial launch period which lasted a few days where we have rewarded our early stakers with a high APY set to 90% for the KAWA token and 50% for the other four pools, we have updated the pools APY to 15% and 10% respectively to keep the system sustainable and more balanced. This will allow us to keep the Farm running without burning through the rewards too quickly, until we’ve deployed other products in the Kawakami ecosystem to complement the farm and the tokens.
UX improvements and code bugs are being made and will be deployed in stages starting today. Any update will be announced here in the official chat group.
Lastly, we have entered partnership negotiations with a couple of projects to add them to version 2 of the KawaFarm once it rolls out. If you have any suggestions on which project we should consider partnering with or know someone in the management of other tokens feel free to let us know.
xKAWA
Many of you will now be passively earning our new token xKAWA by staking on the KawaFarm. We have also created a liquidity pool on Uniswap so you can trade it freely also.
We’ve had a lot of questions about the relative benefits of holding KAWA vs xKAWA. In short, there are immense benefits to having both! Each token will be used in different ways in our ecosystem and we will be ensuring each have plenty of use cases to keep their values up. Here is our summary of each token:
KAWA is a static (non-deflationary) token going to be utilized in all platforms we build in the ecosystem. That might be directly (eg you need it to participate), or indirectly (e.g. profits are used to buy back and burn KAWA).
xKAWA is a deflationary token which will soon have auto-staking rewards. It will be used as the governance token for our DAO and will play a key role in KawaSeed, our venture capital fund. Revenue from KawaSeed will be distributed to xKAWA holders.
Regarding xKAWA tax on transaction, currently 2% of any xKAWA buy or sell is burned, lowering the total supply of the xKAWA token, stimulating an increase in its price. In addition to that, 1% of any transaction is taxed and sent to the community’s development fund which will help us with any running costs related to the project. We are now introducing another redistribution mechanism, where another 2% of any xKAWA transaction will be distributed to those who stake KAWA token on the KawaFarm. This is just the first of several mechanisms we are introducing to incentivize investors to stake KAWA.
KawaDEX
We would like to officially announce the commencement of our own DEX development!
KawaDEX will be an integral part of our products and the Kawakami ecosystem, strengthening the utility and purpose of both KAWA and xKAWA by further rewarding stakers and holders in our community.
And now the big news! With the launch of our DEX, you will be able to bridge your KAWA on the ETH network to BSC, and vice versa. This also means that we are officially announcing a BSC version of Kawakami Inu! The benefits of bridging to BSC are significant. In particular it will it give us exposure to the masses of memecoin investors and traders there, as well as allow our community to take advantage of the low gas fees on BSC. We’ll provide more details regarding the bridge in the coming days.
Marketing campaign
As promised, we are putting more emphasis on marketing starting in July, so you can expect to start seeing first videos talking about and featuring Kawakami Inu very shortly, along with more visibility and exposure on Twitter, TikTok and Instagram. We are also working with several marketing providers to boost us in order to trend on CMC and DEXTools.
Twitter promo
This week we’ll start a series of promotions to attract new holders which will include classic giveaways, lottery draws and meme contests. Keep an eye out for our Twitter updates!
