Tokens

Tokens for Kitty Finance on AVAX

$KITTY - Kitty Finance Token

Contract: 0x788AE3b5D153d49F8DB649aacbA1857f744b739e

The $KITTY token is designed to be used as a medium of exchange. The built-in stability mechanism of the protocol aims to maintain $KITTY's peg of 1 $KITTY = 1 $AVAX in the long run.

Note that $KITTY actively pegs via the algorithm. This does not mean it will be valued at 1 $KITTY:1 $AVAX at all times, as it is not collateralised. $KITTY is not to be confused for a crypto or fiat-backed stablecoin.

$CAT - Kitty Finance Shares

Contract: 0x094BFaC9894d2A2A35771D0BD6d2447689190F32

$wCAT Contract: 0x23909d3aCb52CDB3dAaBfc94727499a2b727063C

$CAT tokens are one of the ways to measure the value of the Kitty Finance Protocol and shareholder trust in its ability to maintain $KITTY close to peg. During epoch expansions the protocol mints $KITTY and distributes it proportionally to all $CAT holders who have staked their tokens in the Nursery.

$CAT holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Kitty Finance ecosystem.

$CAT has a maximum total supply of 67901 tokens distributed as follows:

• DAO Allocation: 7875 $CAT vested linearly 12 months.

• Team Allocation: 525 $CAT vested linearly over 12 months.

• Dev Allocation: 2100 $CAT vested linearly over 12 months.

• Rewards: 59500 $CAT are allocated for incentivising liquidity providers in liquidity pools for 12 months.

• Initial mint: 1 $CAT minted upon contract creation for initial pool.

$sKITTY (Sleepy Kitty) - Kitty Finance Bond

Contract: 0x951E2D266f0CAa1d89372C00325c751A2bbA46A8

$KITTY Bonds ($sKITTY) mainly help incentivise changes in $KITTY supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $KITTY falls below 1:1 AVAX, $sKITTYs are issued and can be bought with $KITTY at the current price.

Exchanging $KITTY for $sKITTY burns $KITTY tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These $sKITTY tokens can be redeemed for $KITTY when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for $KITTY when it is above peg, helping to push it back toward 1 $KITTY:1 $AVAX ratio.

Contrary to early algorithmic protocols, $sKITTYs do not have expiration dates. If your $KITTY is tired (below peg) go and put it to sleep at the NAP (Naptime)! Exchange $KITTY for $sKITTY (Sleepy Kitty). Redeem after peg is above 1.1 to receive bonus energised $KITTY! All holders are able to redeem their $sKITTY for $KITTY tokens as long as the treasury has a positive $KITTY balance, which typically happens when the protocol is in epoch expansion periods.