With great joy we’re announcing that our partnerhip with BonFi is starting to come to fruition. Together with BonFi we have designed and developed a product for creating and running dual yield staking pools. By using the product token hodlers will gain exposure to other assets and diversify their portfolio.
How it all works?
The product itself is built using the no-code engine of the Katalyo platform and the smart contracts are being built in a way to be versatile and reusable. With this solution projects that want to take their partnerships to another level can create an unlimited number of pools with different parameters.
But it all starts with KTLYO-BNF pool!
KTLYO-BNF pool details
The first pool we’re going to create will be a dual yield pool with KTLYO and BNF tokens. The hodlers will be able to stake their tokens and receive rewards in both KTLYO and BNF regardless of the token they stake in the pool.
The parameters of the pool will be as follows:
- Fixed staking duration: 30 days
- APY: 120%
- APY payout ratio: 50% KTLYO and 50% BNF
- Total rewards pool size: $500k
- Maximum stake amount per participant: $10k per participant ($5k in KTLYO and $5k in BNF)
After the staking duration expires initial amount and rewards can be redeemed by the users. The funds can also be redeemed at any time however in that case the users will lose the right to redeem the rewards.
Our plan is to release the product in first week of June 2021 and in the meantime we’re looking to get help from our communities. Before releasing the product on the mainnet we’re going to run beta testing and bug bounty on testnet in order to remove any issues and make the user experience smooth and frictionless. More information on the beta testing and bug bounty in the following days so stay tuned for more information.
Katalyo is a no-code cross-chain platform for building hybrid blockchain powered applications. With Katalyo individuals and organisations can build blockchain powered applications without writing a single line of code. On top of no-code features for building web based frontend, by using Katalyo platform, people can create tokens and NFTs, build DeFi applications, integrate smart contracts in any part of the workflow.