Keller FAQs:

What’s Keller?

Keller is an AMM (Automatic Market Maker) designed to provide large liquidity, low swapping fees, and low slippage.

What’s the difference between Keller and a normal DEX?

Keller's model incentivizes liquidity by giving token-lockers the right to vote in favor of a liquidity pool of their choice in order to increase $KELL emissions distributed to it.

On which blockchain does Keller runs?

Keller runs on Scroll.

What’s Keller’s native tokens?

$KELL - ERC-20 utility token of the protocol. $veKELL - ERC-721 governance token in the form of an NFT (non-fungible token). $KELL is used for rewarding liquidity providers through emissions.

$veKELL is used for governance. Any $KELL holder can vote-escrow their tokens and receive a $veKELL (also known as veNFT) in exchange.

What’s the role of veKELL in the protocol?

veKELL is a governance instrument used to manage the distribution of KELL emissions among the different LPs. In order to increase the share of KELL emissions distributed to a certain pair, veKELL holders can vote to favor it over the other LPs. The longer the vesting time, the higher the voting power (voting weight) and rewards the $veKELL holder receives. The lock period (also known as vote-escrowed period, hence the ve prefix) can be up to 4 years, following the linear relationship shown below:

• 1 KELL locked for 1 year = 0.25 veKELL.

• 1 KELL locked for 2 years = 0.50 veKELL.

• 1 KELL locked for 3 years = 0.75 veKELL.

• 1 KELL locked for 4 years = 1.00 veKELL.

What are the benefits of such a system?

This system intuitively bolsters pairs with the highest value for the ecosystem, distributing liquidity where it is most needed.

What actions do I need to do to earn the 4 types of rewards available at Keller?

In return, users obtain 4 different types of rewards: Voting:

• 100% of the trading fees generated by the pairs they vote for.

• Any bribes directed toward these pairs.

• An anti-dilution rebase (3,3).

Providing Liquidity:

• $KELL emissions at that farm.

What do Bribes entail, and what purposes do they serve?

Bribes are optional external incentives deposited in gauges to boost their returns. To secure a larger portion of the emissions allocated to their gauges (LP), other protocols may provide Bribes (voting rewards) to encourage voters to vote for those specific gauges.

How do I get Bribes rewards (voting rewards)?

1. Choose the veKELL NFT you wish to vote with. The top NFT is automatically selected initially.

2. Distribute the voting power among your favorites gauges.

3. Evaluate your selected gauges and click CAST VOTES to cast votes for all of them simultaneously, utilizing 100% of your voting power.

4. Wait for each epoch to transition (timer is visible) to claim your weekly trading fees and bribes rewards.

What’s the FlyWheel Effect?

The Flywheel Effect is designed to help partners recognize the significance of bribes. This lays the foundation for collaboration in which the benefits of the system are utilized effectively.

What’s an anti-dilution rebase?

It’s a reward mechanism that does not dilutes the governance power of the early adopters created by Olympus Protocol and known as (3,3).

What’s a gauge?

Gauge is the term used to refer to vote-able farms.

What’s the intended in-app workflow?

• Swap tokens

• Pools: Add Liquidity & Stake.

• Vote: Use your veKELL tokens to vote for a specific LP and increase the share of KELL emissions that get distributed to it. Bribes = Create a Bribe for the gauges of your choice (Protocols only).

• Locks: Lock your KELL tokens in order to get veKELL.

• Rewards: Claim your trading fees, Bribes rewards from the LP you have voted for, anti-dilution rebase (3,3) and emissions.