Introducing our Rebrand: Karus Starter
With the same principles at heart, but offering them on more diverse chains, Karus Starter is the rebrand of KSM Starter. Karus Starter will be offering IDO (Initial DEX Offering), IPO (Initial Private Sale Offering), and IMO (Initial Metaverse Offering) on not only Ethereum and Moonriver, but also on Polygon, Binance Smart Chain, Avalanche, Heco, and more. The rebrand also entails some essential changes, which this article articulates. We advise you to read the following information thoroughly.
New Feature: Chain Migration to BSC
Karus Starter utilizes Binance Smart Chain (BSC) as its main staking chain. This means that users will be able to stake and unstake their $KST with significantly less gas fee. This also means that $KST will be available on Pancakeswap, as the move will witness $KST liquidity gradually being moved from Uniswap to Pancakeswap to support the chain migration.
Karus Starter will offer a bridge for users to bridge their $KST from ETH to BSC to allow for a smooth transition.
Therefore, users must expect a transition of liquidity from Uniswap to Pancakeswap, although the transition will be gradual.
Once the bridging is done, users will have to add BSC $KST as a custom token on their Metamask. The contract address of the BSC $KST will be announced in a separately highlighted post.
New Feature: BNB Faucet
When users are bridging their ETH-based $KST to BSC-based $KST, new users will receive a small amount of BNB from the bridge faucet in order to sponsor their migration. This is particularly advantageous to those users who have never used BSC before, or who do not have any BNB in their wallet.
New Feature: APY on Stakes
Karus Starter rewards its users for staking, not only in the form of tiers that allow participation in various IDOs and public sales, but also in the form of APY. Users who stake their $KST to claim a tier are eligible for receiving APY according to the amount of $KST they stake. The $KST rewards will be paid out from the community incentives pool, along with the amount gathered through the staking initiative.
New Feature: Staking Initiative
In order to support the staking APY, Karus Starter introduces staking initiative. Staking initiative encourages users to stake their $KST for a longer amount of time by pooling the staking APY from unstaking penalties that are applied to those users who unstake early. The unstaking penalties are as the following:
Less than 4 weeks: 5%
Less than 6 weeks: 3%
Less than 8 weeks: 2%
Less than 10 weeks: 1%
Less than 12 weeks: 0.5%
Less than 14 weeks: 0.25%
The unstaking penalties are added to the staking initiative pool that is utilized to pay out the staking APY.
New Feature: Renewed IDO Registration
Due to community request, the IDO registration has been renewed and reworked to be a simple on-chain signing. This means that the gas fee related to IDO registration should be next to nothing, directly resolving an issue that was brought by the KST community.
What to Expect
While the transition is aimed to become as seamless as possible, there may be some noticeable events happening on the day of transition. Some of them may be the following:
- Reduction of liquidity on Uniswap due to liquidity migration to Pancakeswap
- New name being applied across all social media channels
- New logo being applied across all social media channels
- Temporary application of “slow-mode” on Telegram community to answer all questions adequately
- Temporary downtime of the Karus Starter app page to make adjustments and deploy roll outs
- To facilitate communications, the Telegram chat link and the Telegram announcement channel link will remain the same.
In all events, Karus Starter team will remain available to answer any and all questions and concerns. We look forward to continuing to have your support through our rebranding.