The launch pad for young blockchain projects starts working on the Free TON ecosystem. This includes podcasts with presentations of investment projects, new tokens for governance and farming, and much more. The global goal is to speed up the DeFi system in 60 minutes.
During the AMA session and in communication with our magazine, Mitja Goroshevsky, CTO of TON Labs, revealed the details of a large-scale project — Killer Whale Pod Cast, on which high expectations are placed. It will have many episodes, but the most important one is the starting one.
Becoming a Killer Whale
The first episode of the Whale Drop podcast will take place on October 30th at 15:00 CET and will last exactly 60 minutes. You can follow and take part on the project website. During this time, the first show will take place, and everyone will have the opportunity to invest their TON Crystals, in response to which a smart contract will mint new tokens — Killer Whale Token (KWT).
The invested TON Crystals will be accepted into the liquidity pool and locked for a certain time — 90, 180, or 360 days. During this period, they will bring the owner a farming income as KWT tokens at a rate of 15%, 35%, or 75% per annum, respectively. When the deposit period ends, the depositor will receive back his TON tokens, keeping the KWT received.
KWT minting will be done according to a special formula that considers the time when the stake is made. The sooner this happens, starting from the start, the more profitable the minting rate of the tokens will be. The starting ratio is 0.1 TON Crystal to 1 KWT.
Every minute there is a limit of tokens that the smart contract accepts. It is a power function that starts at 50,000 TON, then raises the previous number to the power of 1.01 to 55,000, and then the limit is increased.
Tokens to Everyone
During the Killer Whale Pod Cast, there will also be a single AirDrop episode during which all participants will receive KWT tokens. To take part in the event, you will need to use a TON Surf decentralized blockchain browser and TON Crystals on your account. 500,000 Killer tokens will be given out throughout the 60 minutes — 8,333 per minute or 200 per hand.
There are also payments to the development team — 1% for each successful episode, but not more than 24% in total. An episode will be successful if the community has accepted the project and this project has brought liquidity.
Thus, only a small part of the issued KWT tokens will be used to support the project. The rest will be distributed among the investors and will give them the right to a share of the profit. For example, the profit made from the token exchange fee will be distributed among them.
If you need your funds now, you can sell or burn your KWT in a special smart contract and immediately receive your profit over the elapsed time. This, of course, will look like a rash move, because this way you will lose all the expected income for the entire time the project exists. If, for some reason, the project ceases to exist, you will lose nothing anyway, since you will simply burn your KWTs and take your share of the profits for the duration of the project.
At the end of the first episode, the project will deploy on a plane combining DeFi and media. This launch pad will host separate podcasts, which will be full-fledged episodes on the presentation of investment projects.
The Liquidity Pair Will Turn Into Two Pairs
During the podcast presentation, KWT token holders will vote with tokens for their favorite project and if the number of votes exceeds a certain threshold, a volume of liquidity will be generated for the project, which they can use to support their token. Young projects will also use farming programs to raise liquidity. Some plans for upcoming projects have already been created, Mitja Goroshevsky shared, but it is too early to disclose them.
Thus, at the first stage — Whale Drop — users can earn by liquidity pool farming on the Ton Crystal/KWT pair. In the next episodes, after voting for the project and giving it liquidity, farming will take place on TON Crystal/Project Token and KWT/Project Token pairs. This means that the first, initial farming for token holders, and the secondary one — in those investment projects that are presented on the platform — will take place at the same time.
Thus, the first step of the project is to raise funds from investors, who will receive tokens for governance and farming, as well as provide liquidity for future investments.
Step two and subsequent ones are online presentations of projects on which you can get investment benefits and earn money.
The third step is to test a new profit distribution system for financial projects. And this is a very innovative thing, as Mitja Goroshevsky says, because in traditional systems there is a big gap between the share of profit that is due to depositors and the entire profit of the company. Here, the authors of the project aim for the most transparent system and the elimination of this gap. The lack of intermediaries will make it possible to create an automated financial system with low maintenance costs.