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Valkyrie Token
The Valkyrie Token (VKR) is the protocol's native governance token. The VKR token has a wide range of uses including campaign participation and staking onto governance for new proposals or vote in on-going polls.
VKR is designed to linearly capture a portion of the protocol's fees and provide additional incentives for both campaigner producers as well as participants.
Lastly, VKR stakers receive rewards allocated to the Governance Distribution schedule as well as a portion of the fees charged by the protocol pro-rata to their stake.
Valkyrie Protocol has multiple value capture mechanisms in place to ensure that the VKR token is maintaining a liquid price level. A few examples of value captures include but not limited to:
- Inflationary Rewards (Tokenomics below) in LP or governance contract
- Continuous campaign launches for continuous participation 20% of reward budgets denominated in VKR for sharing rewards
- Increase base reward caps by staking additional VKR onto governance
The core of true value capture will come from the flow of campaigns that Valkyrie will launch with partner protocols. In addition to partner campaigns, Valkyrie will continuously launch own campaigns to superboost earning opportunities as well.
There are various fees associated with Valkyrie Protocol when running campaigns. These fees include: Reward Pool Fee Reward Pool Withdrawal Fee IPC fees
The Valkyrie Team is always looking for ways to accommodate partners to the best possible outcome while serving the Valkyrie Community. Fee negotiations are always opened for discussion.
Foundation: 100M (10%) tokens will be reserved for the Valkyrie foundation (It is basically a lock-up volume).
Investors: 100M (10%) tokens are allocated to investors of Valkyrie, 2-year linear vesting schedule is applied
Team: 100M (10%) tokens are allocated to the creators of Valkyrie, with a 6-month lockup period. Afterwards, a 4-year linear vesting schedule is applied
LUNA Staking Airdrop: 50M (5%) tokens are airdropped to LUNA stakers on launch.
Valkyrie LP Staking Rewards: 112.5M (11.25%) tokens are linearly distributed to the VKR-UST pair liquidity providers over a period of 4 year.
Valkyrie Governance Staking Rewards : (3.75%) tokens are linearly distributed to the governance stakers over a period of 4 year.
Community Fund 420M (42%) : Following the Tokenomics update:
- a portion of LP and Governance incentives have been reallocated to the Community fund
- Luna biweekly airdrops have been reallocated to the Community fund
Burn 80M (8%) : Following the Tokenomics update, a portion of LP and Governance incentives were burned
A total of 1 billion (1 x 10^9) will be distributed within a minimum timeframe of 4 years. The schedule below represents the cumulative supply at the end of each year.
Given that VKR is the crux of all activities on the Valkyrie Protocol, it is vital for deep liquidity of the token. In the early stages of the protocol, users who provide liquidity for VKR through the VKR-UST trading pool will receive additional VKR inflationary rewards when staking the corresponding LP token.
Important decisions with regards to the development of protocol are in the hands of users who participate in the on-chain governance. Given this important role, governance stakers are rewarded for their active efforts through VKR distribution as defined in the VKR emissions schedule pro-rata to their VKR stake.
Campaigns that are selected for the Support Program through a governance vote will receive VKR subsidies to be used as additional rewards for the given campaign. The VKR allocated to selected campaigns are drawn from the Community Grant Pool.
Last modified 1yr ago