A new UI, more utility and scarcity to $LYPTUS token and the introduction of two new tokens with high level and improved automated burn mechanisms
As decentralized finance continues to mature, and the developers creating the smart contracts continue to innovate, there has come a need for projects to upgrade or migrate their projects to new codebases. Some of the more common changes or upgrades made lately include; changing the fee structure in the protocol, increasing operational security, adding transactional taxes and more.
These changes can only be produced by transferring (“migrating”) the current smart contracts to new and updated versions. An example of this was a couple months ago when Pancakeswap upgraded to a new codebase to allow them to add new features such as a referral program, auto-compounding vaults, fee structure changes and more.
Recently Koala DeFi has also announced an implementation of a new upgraded version for its protocol (V2), with a new interface, new tokens and new features that promise to be attractive and beneficial for users.
Koala DeFi Finance is a yield farming dApp running on Binance Smart Chain and the ApeSwap exchange, with cool new features that let you earn and win $LYPTUS tokens. The idea behind this project is to create a safe place for conservative farmers. The Koala is a quiet animal, that loves eating eucaLYPTUS and sleeping without worrying about things like money.
$LYPTUS is a perpetually deflationary token that gives it a constant upward momentum, with a sufficient burn mechanism. Koala DeFi is not trying to replace the swap & exchange but to add value into the system and create a suitable and sustainable environment for people to yield farm with high APR’s. In V2, the team plans to introduce two new tokens with new functions and automatic burn mechanisms to Koala DeFi, in addition to that it is planned to make some changes to Koala DeFi’s native token, $LYPTUS, which will result in three tokens for the ecosystem.
For V2, $LYPTUS will have a maximum supply of 4.3M tokens, which means that no more tokens will be minted, and a number of tokens will be actively burned to enter the V2 farms and pools. A new token called $NALIS will be added in V2, with new features to Koala DeFi, such as high automatic burn mechanism directly inside the smart contracts, anti-whale and anti-bot systems, auto-compounding, a referral program, an automatic lottery, and charity donations.
$VIKNALIS is another token to be added in V2 and is backed 1: 1 with $NALIS. VIK is an acronym that stands for Very Important Koala. $VIKNALIS can only be obtained with $NALIS, not in the market, that is, it gives you access to the VIP part of Koala DeFi with special bushes, special contest, lower rates. Some farms and pools will also be reserved for VIP Koalas.
Interestingly, after the V2 release, you will only need to switch from the $LYPTUS farms and to the new $NALIS farms. It will not be necessary to break LPs. On the other hand farms and pools will require users to pay a portion of the deposit fees with $LYPTUS, which will then be burned. There will be a maximum of 4,300,000 $LYPTUS and they will be actively burned, as we already mentioned.
The new ecosystem within V2 will be ready to build auto-compounding vault functionalities directly in Koala DeFi without the need for external help.
They will also add a “no lose” lottery to their already solid Bingo and Money Wheel games, where you will buy lottery tickets with $NALIS and continue to be eligible for all future lotteries. You can always resell your ticket to get $NALIS, in return though. A new pre-sale is also destined, which the team has said that they will give the details for at a later date. Keep in mind that the team has made it clear that new contracts will be audited by at least one accredited auditor before being put into production.
Although they have not given an exact date for the V2 release, the team is working on other new features, such as a new UI, that will soon be added to the project and likely be announced very soon. Koala DeFi is without a doubt a project that continues to innovate and develop features that certainly add a tremendous amount of value to their platform and ultimately to the entire Binance Smart Chain.
For more information regarding the V2 upgrade, please visit the Koala DeFi Medium post about it, https://koaladefi.medium.com/koala-defi-version-2-introduction-to-the-next-level-lyptus-scarcity-17d1cb814c60.