Understand the functionalities of $KACY
KACY Token address Avalanche: 0xf32398dae246c5f672b52a54e9b413dffcae1a44
KACY Token address Polygon: 0x366e293A5CF90A0458D9fF9f3f92234dA598F62e
What is KACY?
KACY is the native utility token of Kassandra, a crypto protocol designed to empower its community members. The token provides various functionalities within the protocol, enabling holders to actively participate in governance proposals and incentivizing farm pools on the platform.
Governance and Proposals
KACY token holders gain the privilege to engage in the governance of Kassandra. By visiting the governance section of the protocol, accessible at https://app.kassandra.finance/gov, users can explore all past and ongoing proposals that have shaped the development and direction of the platform.
KACY's LockVote Feature
To exercise voting rights on Kassandra, stakeholders must stake their KACY tokens, thereby earning voting power. There are three options available for stakers:
- 1.No withdrawal delay: Opting for this choice allows users to stake and withdraw their tokens at any time. While this option carries less risk, it provides a lower interest rate and grants a 1:1 Voting Power based on the amount of KACY staked.
- 2.15-day withdrawal delay: By selecting this option, users commit to a 15-day lock period before being able to withdraw their tokens. In return, each KACY staked carries a higher weight of 2 Voting Power, granting stronger influence and higher interest rates to those willing to lock their tokens for an extended duration.
- 3.45-day withdrawal delay: This option imposes a 45-day lock period, preventing users from withdrawing their tokens until the period elapses. In exchange, each staked KACY token represents a weight of 3 Voting Power, amplifying the voting influence and interest rate of users who choose to lock their tokens for an extended period.
By offering these withdrawal delay options, Kassandra incentivizes stakeholders to actively engage in governance decisions while rewarding those who commit to longer lock periods with increased voting power. You can check more about staking in our Stakingsection.
Initially, KACY was designed to have a maximum supply of 10,000,000 tokens. However, during the ICO phase, a strategic decision was made to burn 400,000 tokens, effectively reducing the total supply to 9,600,000 tokens. This deliberate token burn mechanism enhances scarcity and can potentially contribute to the appreciation of the token's value over time.