Greetings Kambrians! We trust you’ve been well. It’s time to share with you what we’ve been working on. We are thrilled to announce the launch of Kambria’s own DeFi initiative: Kambria Yield Tuning Engine.
Kambria Yield Tuning Engine, or KYTE (pronounced same way as “kite”), marks the start of a new era for Kambria as we look to reshape our token economy and bring increasing value to our community through incentives. KYTE represents an engine we are building to optimize the yields for KYTE token holders whether through machine learning algorithms or crowdsourcing from our open innovation platform Kambria.
As most of you know, the launch of Ethereum has fundamentally changed cryptocurrencies forever. The brilliant use of smart contracts has been applied to innumerable verticals and use-cases, giving people the opportunity to have full control over how their assets are used – and of course, the world of finance is no exception. With the launch of DeFi products, our community will benefit from equitable access and the flexibility to transact and trade with only an internet connection.
And yes, incentives…
Because DeFi is decentralized, this allows users to deal directly with one another, thus cutting out “the middleman” and allowing us to offer the community lower fees and much more favorable terms on loans and lines of credit. This in turn, allows us also to pass this savings on to lenders and offer them significantly higher interest rates than they’d receive from a traditional investment with their local bank. This high yield trading, known as “yield farming” is a benefit of DeFi that does not exist for the normal “everyday” person, thus allowing you, the Kambria community, to take advantage of the endless benefits of participating in our new DeFi initiative. We will provide more details concerning KYTE and its APY soon.
Kambria will leverage its vast partner network to bring value to our community through proven DeFi products. We will announce these partnerships in the coming weeks.
How do I get KYTE?
Participation in the Kambria Yield Tuning Engine program is completely optional; however, if you would like to participate, we are requiring that you exchange your KAT in order to access KYTE. We will provide 1 KYTE for every 100 KAT. Please keep in mind that this is a one-way transaction and cannot be reversed.
Between now to 03/29, KAT holders can exchange an unlimited number of KATs to KYTE via the instructions below. After that, from 04/02 on, KAT holders can exchange their KATs for KYTE via our smart contract up to a maximum of 40k KATs per user and 1M KATs converted totally per day. Our intention is to have the yield farming benefits ready shortly, so get ready to start farming soon!
More details will be released in the coming week; however, here is the following:
- Total Supply: 25,000,000 KYTE
- Conversion Ratio: 100 KAT:1 KYTE
- Both tokens are supported and conversion is optional
- All tokens are unlocked immediately
- Max of 1 million KAT conversion per day
Getting started is easy. Simply visit this form, and follow the instructions to start converting today.
Please keep an eye on our public channels for more information about our upcoming yield tuning product offerings.