Kambria Yield Tuning Engine, or KYTE (pronounced the same way as “kite”), is the newest addition to the rapidly growing DeFi space. By offering intelligent, fast, and decentralized financial services to the community, we complement our vision to foster the open innovation of frontier technologies. Decentralized finance is a powerful example of open innovation, aimed to serve the greater good of the community, and we’re excited to share with you what we are doing with KYTE.
This initiative 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. 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.
In addition to high yield trading on partner platforms, KYTE will also be used to stake and back important research projects immersed in the development of emerging technologies on the Kambria Platform. Our communities will have the opportunity to earn significant incentives for participation within our ecosystem, including crowdsourcing, bringing additional utility and value to KYTE.
Over time, additional functionality will be implemented. the opportunity to create liquidity pools for NFTs, IP, digital arts, and up-and-coming technologies will allow the community to buy and sell these items both fractionally and as a whole, thus supporting creators and of course, benefiting from participating.
This is an exclusive opportunity for our community to participate in this initiative and “get in on the ground floor.” As of March 29th, 2021, a total of 133.8 million KAT have been converted into 1.338 million KYTE. This equates to roughly 9% of KAT token’s circulating supply. All of the KAT converted were sent to an Ethereum burn address. You can track those transactions here.
In the early stages of our launch, we are greatly limiting the ways you can gain access to KYTE. As of today, March 29th, there will only be three available methods to obtain KYTE:
- Burning your KAT using our automated conversion tool
- Highly limited IDO on Gum Pad
Quantities are scarce, and we expect there to be significant competition.
You can find all of the details about the Gum Pad IDO on their blog, here.
As we shared before, the official launch of the swap tool will go live on April 2nd, 2021. We will announce the details shortly through our official channels.
Please do not try to send your KAT to the burn address or our contract manually. Your KAT may be lost if you do not convert using our automated conversion tool. BEWARE of SCAMMERS and DO NOT use any details sent via DMs. We will never DM you first!
Frequently Asked Questions:
- How many KAT can I swap using your conversion tool?
You can swap up to 40,000 KAT per day until the community as a whole has swapped 1 million KAT. The tool will then be paused until it resets the next day. You can convert your KAT into KYTE as many days in a row as you’d like.
- What is the conversion ratio of KAT to KYTE?
100 KAT per 1 KYTE
- What does the 1 million KAT per day cap mean?
The 1 million KAT is an aggregate cap of the maximum number of KAT that can be converted in one 24-hour period by the community. Once the cap is reached, no further conversions will be accepted until the following day.
- Will there be yield farming?
Absolutely. We have partnered up with Gourmet Galaxy (Gum Pad) to offer high yield rewards for yield farming.
- What is the yield farming APY?
We will announce the APY after the IDO on Gum Pad.
- What can you do with KYTE?
Our intention is to offer our community high yield trading, staking benefits, and the ability to participate in Kambria crowdsourcing as a vehicle to earn incentives both on and off platform through the power of DeFi. Our vision is to bring value to the community and offer equitable access and the flexibility to transact and trade with only an internet connection.
- Will you continue to support KAT?
- What happens to my KAT after it’s converted to KYTE?
All converted KAT is sent directly to an Ethereum burn address, where it can never be retrieved.
- What if I only have a small amount of tokens? The price of gas is so high!
We understand the Ethereum network has been congested and as a result, the gas fees have been abnormally high. We believe that the benefits of holding KYTE outweigh the consequence of the high gas prices. We recommend converting as close to the 40,000 KAT as you can to minimize the number of transactions you make. Alternatively, you can purchase KYTE on the Gum Pad IDO or Uniswap.
- How many KAT have been converted so far?
133.8 million KAT were converted to 1.338 million KYTE as of March 29th, 2021.
Kambria is the first decentralized open innovation platform for frontier technologies. Using our platform, anyone can collaborate in researching, developing and commercializing innovative ideas and get rewarded fairly for their contributions.