KEY Token Holders

KEY token holders may earn rewards and voting power by locking their KEY tokens in the KEY Box.

KEY Locking

KEY tokens can be locked in the KEY Box for 1 week ~ 16 weeks. Voting power and rewards may be given in proportion to the duration and the quantity of the KEY token lock.

Earning Voting Power

Voting power can be earned by locking KEY tokens. Users may exercise their voting power to participate in major decisions for Key Finance.

Voting Power(vlKLAPkey) quantity earned = KEY tokens quantity locked * remaining Locking Period (week)

KEY lock Rewards

Users may earn following rewards in proportion to the quantity of voting power(vlKLAPkey) owned.

• KLAP Rewards :

  • 5% of the total KLAP rewards farmed from providing liquidity in klap.finance lending pools

  • 100% of the total KLAP rewards earned from staking veNFTs in klap.finance

• KEY Rewards : 100% of KEY tokens paid by liquidity providers as early exit penalties

Extending KEY Locking Periods

Voting power and reward distribution ratio decline as it gets closer to the lock expiration. Voting power and reward distribution ratio can be maximized by periodically extending the locking period.

KEY Lock Expiration and Withdrawal

• KEY tokens of which locking periods have terminated can be withdrawn linearly over 7 days since expiration.

• Suppose the lock expiration date is 00:00 am, July 7, 2022, the available KEY token withdrawl amount increases from this point to ultimately reach 100% at 23:59 pm, July 13, 2022.

• This is to prevent sudden rise of circulating supplies, when the locking period expires every week.

Voting

• Voting power(vlKLAPkey), earned by locking KEY tokens in the KEY Box, can be used to participate in KLAP reward emission votes for Klap.finance.

• Users may vote in the ‘Voting’ page in Key Finance. Key Finance collects user votes evey Thursday 00:00 am (UTC), and apply the results to Klap.finance.