What are the different tokens in the Kepler ecosystem, and what is their tokenomics?
The perception of a particular cryptocurrency’s value is an essential factor in the success or failure of a crypto protocol. However, such perception is tough to define, with many combinations of factors influencing a crypto asset’s value. An excellent way to estimate value is to look into a crypto protocol’s tokens and their resulting economics, commonly termed ‘tokenomics’. The tokenomics for a particular crypto token refers to all the token qualities that make it appealing to an investor. Typically, factors considered include allocation and distribution of tokens, supply of token, market capitalization, and token model. In this article, let’s take a deep dive into the various tokens and tokenomics that made up the KeplerDao Protocol.
$KEEPER
KEEPER token is the native currency of the KeplerDAO. Each KEEPER is backed by a minimally valued treasury that consists of stable coins (DAI, USDC), LP tokens, other native crypto-assets (ETH), and investment assets that Kepler has invested in as part of its charter as a community VC. KEEPER can be staked in the staking pool to give holders compounded long-term returns on their holdings. Being a governance token of Kepler, KEEPER grants voting rights to its holders in deciding how Kepler functions and evolves as a protocol. Bonders who deposit stable coins and LP tokens into the treasury get rewarded with discounted KEEPER tokens. KEEPER tokens can also be purchased from DEX (decentralized exchange) like Sushiswap.
KEEPER does not have a supply cap. They get minted in the following situation:
· When a bonder purchases a bond from the treasury, KEEPERs are minted in a 2:1 ratio. For every KEEPER minted via bonding, an equivalent amount of KEEPERs are minted for the treasury.
· Treasury profits are distributed as APY with KEEPERS minted (1:1) to return to stakers during rebases.
· Holders of cKEEPER tokens (founding team, investors, advisors, active contributors) can exercise their option in exchange for KEEPER (1:1)
You can refer to this page in the whitepaper for more detailed information on KEEPER.
$aKEEPER
The sale of aKEEPER enabled KeplerDAO to kickstart the treasury and the liquidity pool. Early supporters and investors of KeplerDAO were able to purchase KEEPER tokens in the form of alphaKEEPER (aKEEPER) before the Copper Launch and Mainnet Launch. aKEEPER can be bought during the IDO (Discord Whitelist), FN1 (Phase 1 of pre-sale), and FN2 (Phase 2 of pre-sale) and be redeemed 1:1 for KEEPER tokens. aKEEPER has no other relevance to KEEPER or the operation of KeplerDAO.
$cKEEPER
This valuable token pool is reserved and meant to be used as a reward to incentivize the relevant stakeholders of KeplerDAO, including the founding team, investors, advisors, project partnerships, active contributors from the community, and the FMT team. cKEEPER is a non-expiratory warrant that holders can burn at a pre-determined exercise price 1:1 for a KEEPER token. The financial payoff would be dependent upon the market price of KEEPER at the time of exercising the warrant, which ensures that everyone holding cKEEPER would be incentivized to keep up the market sentiment of Kepler. A total of 500 million cKEEPER would be distributed based on the tokenomics table below:
You can refer to this page in the whitepaper for more detailed information on KEEPER.
$TROVE
When KEEPER tokens are staked in the KeplerDAO staking pool, 1:1 TROVE tokens are obtained. TROVEs are deposit certificates (receipts) of the underlying KEEPER tokens that accrue interests from being deposited. With every rebase (every 8 hours), the treasury distributes staking rewards (obtained from treasury profits through bond sales, LP fees, and investments) to the staking pool according to a set reward rate which stakers will receive as TROVEs. The longer you stake, the more TROVEs you receive. If a staker chooses to unstake, they can forfeit all or a part of their accrued TROVEs in return for an equivalent amount of KEEPERs. The supply of TROVEs will never be more than the number of KEEPERs staked in the staking pool.
$wTROVE
wTROVE is a wrapped version of TROVE. The number of wTROVE is fixed with the variable being the token’s value, which increases over time at the same rate as the increase in the number of TROVEs in circulation.
iKEEPER
A significant part of the KeplerDAO ecosystem is the existence of an SPV (special purpose vehicle) that is responsible for the investment of part of the Kepler treasury as a VC-oriented DAO protocol. The ownership of the SPV is defined by iKEEPER, a tradeable class of tokens that are exchanged 1:1 with TROVE/wTROVE. Holders of iKEEPER can earn additional rebase from the realized profits of the SPV. The SPV rebase can be exponentially higher than the standard treasury rebase due to the high potential in profit that the SPV can generate. This option to enhance your staking rewards is known as the double tap mechanism.
You can refer to this page in the whitepaper for more detailed information on iKEEPER.
The overall tokens and tokenomics of KeplerDAO are summarised in the chart below:
Check out this YouTube video for a quick summary of the KeplerDAO’s tokens and tokenomics.
HODL and prosper!
KEEPer for life.
