New synthetics are here! The protocol is starting off with kxUSD, a USD pegged algorithmic stablecoin. Why kxUSD? The dollar continues to dominate in volumes across all platforms, being the main medium of exchange. That, and the arbitrage possibilities of algo stablecoins, are a powerful way to grow the liquidity…

We’re ready to introduce a new USD pegged synthetic token as previously announced — kxUSD. Our choice fell on USD because it’s the most popular asset and we believe that it will help the protocol to get more adoption. The community was rightfully expecting it all this time! Always…

Farming with kxUSD

A…

Dear Klondikers, congrats on the successful tokenswap! The migration took place from 23 March 6 PM UTC to 30 March 6 PM UTC.

Tokenswap stats:

KLON supply was originally set to 1,000,000 KLON. With the changes to the protocol pre-v2 version, 306,250 KLON left in V1 and were not swapped according the proposal, majorly reducing the FDV and making KLONX holders more whole as the dilution is now also reduced.

Total KLON swapped to KLONX — 452,596. Users swapped 146,344 tokens. 2,297 KLON left in V1 by users, 2297/(146344+2297)=1.5%. This shows that the community is super active and was almost fully able to migrate in a short timeframe. Good job everyone!

KLONX token contract: 0xbf15797bb5e47f6fb094a4abdb2cfc43f77179ef

In 48 hours we’ll publish the article on next moves and synthetics, stay tuned!

V.2 launch timeline

March 21 — start of the process of transferring the protocol to V.2

The first step is to transfer KLON from timelock contract to mutisig klondike contract (with 2 days freeze period). Swap operations will be made from multisig wallet.

March 22 — V.2 contracts deployment

1. Dev fund ETH transfer to deployer

2. Contracts deployment

3. During deployment KlonX<>WBTC Uniswap pool will be created

4. Migration of the…

In this post, we want to summarise the first rebase and our conclusions.

It should be said that we consider Klondike as a long-term project. Therefore everything that is happening now is extremely important — the calibration of the system will directly affect the stability during scaling. As an example…

Klondike

Algorithmic synthetics platform

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