Migrate2Earn (M2E)

Event Period: 6/8 ~ 6/14 (Migration Period), 6/15 ~ 6/21 (Private Farming Period)

Rewards to be distributed: 300,000 KOKOS (Migration Period) + 170,000 KOKOS (Private Farming Period)

The migration event(a.k.a. Migrate2Earn, M2E) aims to bootstrap liquidity for the 8 initial crypto pools that will be launched following Kokonut Swap Rebranding. Current KLAYSwap liquidity providers can migrate liquidity and receive additional KOKOS rewards on top of the KSP rewards that they were receiving.

Crypto pools do not require large liquidity like normal CPMMs because they are highly liquidity-efficient. Therefore, the Migration Event will be conducted on a first-come, first-served basis based on the amount of target liquidity set for each pool. For example, if the target liquidity of a particular pool is $1,000,000, and the target is satisfied, then no more LP will be able to participate in the event beyond the target.

The Migration Event can be divided into two separate periods: Migration Period and Private Farming Period, 7 days each. Users can migrate KLAYSwap LP tokens for each pool on a first-come, first-served basis during the migration period. After the migration period is over, the LP tokens will be converted to crypto pool LP tokens, and KOKOS will be mined exclusively during the ensuing private farming period.

No more additional deposits will be allowed during the private farming period, so users who wish to mine KOKOS during this period must participate in the migration ahead of time. As a note, the KSP reward generated from the LP tokens deposited during the migration period can be fully claimed by the user, so there will be no opportunity costs for all participants.

Migration pre-mine rewards can be claimed at once after the M2E event. In addition, since Instant Unstake will be open even after M2E participation, users can respond to urgent market circumstances(such as sharp declines) by withdrawing their LP. However, when an immediate withdrawal is executed, the pre-mine reward allocated will be recovered.

The pools to be migrated are as follows, and among them, USDT-based pools are converted to KSD (without slippage) according to the market exchange rate through Kokoa Finance’s PSM (Price Stability Module) function and then repaired as KSD-based crypto pools. For example, the KLAY-oUSDT pool will be converted to the KLAY-KSD pair and migrated afterward.

Migration Target Pool List and Target Liquidity Size

• KLAY-WEMIX: $4,500,000

• KLAY-KSP: $2,000,000

• KLAY-oXRP: $2,000,000

• KLAY-oETH: $2,000,000

• KLAY-oUSDT: $2,000,000

• ETH-oUSDT: $1,500,000

• oXRP-oUSDT: $500,000

• KSP-oUSDT $500,000

Migration Period Pre-Mining Rewards

Pre-Mining reward pools are designed to assure approximately 50% APR in KOKOS given each pair’s migrated liquidity reaches its target(assuming KOKOS=$0.5). For example, if the KLAY-oUSDT pool liquidity only met 50% of the target amount, KOKOS reward that would be pre-mined throughout the Migration period for that pool will approximately reach 100%.

M2E UI Explained

(A) Target Liquidity: If the total amount of LPs that have participated in the migration event exceeds the target liquidity, no additional participation is available.

(B) KSP APR: This refers to the KSP reward APR that can be received during the migration period. During the migration period, the deposited LP tokens still exist as KLAYSwap LPs, so users can claim all KSP rewards generated during the period.

(C) Private Farming APR: The estimated APR for the subsequent Private Farming period after the end of the migration period. The previously deposited KLAYSwap LP tokens will be converted to Kokonut Swap Crypto Pool LP at the end of the migration period. Therefore, you can no longer receive KSP rewards during the private farming period, and you will receive private farming rewards in KOKOS instead. During the private farming period, additional deposits cannot be made to the farm, so users who have participated in the migration in advance can enjoy exclusive benefits.

(D) My LP Migrated: The quantity and value of LP tokens deposited by users to participate in migration. If necessary, you can cancel your participation in the migration by waiving the migration airdrop reward and withdrawing LP through Instant Unstake.

(E) LP in Wallet: The quantity and value of LP tokens currently held in user wallets.

(F) Migrate to Earn n KOKOS: By clicking this button you can participate in the migration event. “n” shows the amount of airdrops you can receive when you migrate all your LPs. Users can participate in the migration and receive airdrops through this button as well as additional yield-farming rewards during the private farming period.