How $Lys works ? Tiers Announcement

How will the KOO (King Official Offering) be conducted?

The majority of our sales will take place in the form of KOOs. The aim here is to reward the most loyal of our knights throughout the lyscapital journey.

  • Knight: Number of veLYS to hold: 10,000
  • Baron: Number of veLYS to hold: 20,000
  • Prince: Number of veLYS to hold: 40,000

What you need to know: The larger your tier, the more you can invest on each KOO. Here is an example with $100k in allocations:

  • Squire: 5% ($5k) total allocation with $100 max per wallet (if there are 50 Squires)
  • Knight: 15% ($15k) to be handed out with or $300 max allocations (if there are 50 Knights)
  • Baron: 35% ($35k) of total allocation with $700 max allocations (if there are 50 Baron)
  • Prince: 45% ($45k) of total allocation with $1500 max allocation (if there are 30 Prince)

The higher the tier, the less competition you will have and the bigger your allocation!

There are 3 different staking times, of your LYS that will allow you to have veLYS and therefore get your tiers.

Here is how many veLYS you will receive, depending on the time of lock:

Staking lock of 3 months, 1LYS stake = 0.25 veLYS obtained

veLYS= 0.002739 X number day X number LYS

Find out easily the number of veLYS you will have with the formula above.

Can I lose my rank?

Yes, it is quite possible that you will lose your rank, we use a decreasing tokens curve system. The more time passes, the less tokens you will have.

What if the 1st round is not completed?

Good question, dear knight. If each pool of each tier is not filled, a second FCFS round will occur with the same max allocation for everyone, whether you’re ranked or not.

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