FAQ

What is a rebase?

Rebase is a mechanism by which your staked KEEPER balance increases automatically. The rebase is fixed at 15% APY, plus any KEEPERs added to the staking pool on selling of KEEPER. Stakers only see staked KEEPER balance instead of KEEPER, since the protocol utilizes the rebase mechanism to increase the staked KEEPER balance. You can convert the staked KEEPER back to KEEPER in a 1:1 ratio.

What is APY?

APY stands for annual percentage yield. It measures the real rate of return on your principal by taking into account the effect of compounding interest. In the case of Kepler DAO, your staked KEEPER represents your principal, and the compound interest is added periodically on every epoch (24 hours) thanks to the rebase mechanism. One interesting fact about APY is that your balance will grow not linearly but exponentially over time!

Why is the APY only 15%?

The price of KEEPER directly depends on the circulating supply. High APY would immediately crash the price. So a nominal APY is given to stakers, with the added benefit that the premium charged from selling of KEEPER is distributed as KEEPER to the staking pool, which increases the rate for the current rebase.

What is the LCV schedule?

The Policy team will review the LCV value weekly, and a community vote will be taken for any required changes.

How is the MV calculated?

There are two MV - reserve and SPV. $MV_{reserve}$ is the total value of all the assets (USDC, USDT, DAI, ETH) in the treasury contract. SPV is the investment arm of Kepler DAO. $MV_{SPV}$$MV_{SPV}$ is the total value of all the investments made by Kepler DAO.

What is the status of the audit and the KYC?

All Kepler DAO contracts are audited by 0xGuard. Safety and security of the stakeholders’ capital is top priority for Kepler DAO and thus all new contracts will be audited before launching on the mainnet. All the founders of Kepler DAO are KYC’d with 0xGuard. You can view the KYC announcement here

How will you prevent volatility at the copper launch?

Out of the 55k aKEEPERs currently in circulation, about 42k have already been locked in (they are redeemable only after the copper launch). This was done to ensure fair public participation in the copper launch without the fear of excessive price movement.

Furthermore, the max allocation to a whitelisted wallet address was 200 aKEEPER tokens in the IDO and 100 aKEEPER tokens in the pre-public sale. This design had led to the tokens being distributed across several whitelisted wallets and thus whale action is improbable.

Why is there no vesting on purchasing KEEPER tokens? Will this not cause volatility?

There is a selling premium on KEEPER, governed by the equation $P_s$= $P_b$*(1-premium). As the net selling pressure increases, the premium shoots up making selling unprofitable.

Why do you not accept LP tokens from your pools?

This is because LP tokens accrue a fee of ~0.3-0.5% which is too low to incentivise us to put a dollar in an external pool. Why? The RoI on $1 invested through the SPV is potentially 20x. So for now, we have chosen to forego LP fees when we can rent DeX liquidity costlessly. We might choose to decide otherwise in future.