Farms

1.“What will happen when circulating supply = total supply? Will emissions stop?”

Yes. Once the max supply of $CAT (59.5K) is reached, emissions stop. This is going to be in a year from when the $CAT farms start. $CAT will always print $KITTY in the Nursery, though as long as $KITTY is above peg.

2.“Why is ‘at-peg’ (TWAP between 1.00 and 1.01) the best time to provide liquidity?”

When $KITTY is pegged or close to being pegged to 1 $KITTY : 1 $AVAX, it is more akin to having exposure to a single asset (single staking) than to your traditional LP'ing experience, where you would run the risk of impermanent loss if one of the tokens went up in value and the other did not.

3. "Wait, you mean that if $MATIC pumps, $KITTY pumps with it?"

Yes!

Let's take an example: If $MATIC pumps in price, it won't 'outrun' $KITTY. The APR will vary in terms of its $USD value, but emissions won’t. This is something that wouldn't be possible with another 1:1 pegged asset like a stablecoin LP position, where the $USD value is directly tied to the emissions. If $AVAX rises in $USD value, $KITTY goes with it. Same if $MATIC falls in $USD value, $KITTY will be worth less in $USD, but it won’t affect the peg. The only thing that can change the price of $KITTY in terms of its $MATIC value is buying and selling it.