Tokens

Keller Finance utilizes two tokens to oversee its utility and governance:

• $KELL — ERC-20 utility token of the protocol.

• $veKELL — ERC-721 governance token in the form of an NFT (non-fungible token).

$KELL is employed 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. Additional tokens can be added to the $veKELL NFT at any time.

ve(3,3) Mechanism

Keller Finance mechanics embody a fusion of two DeFi concepts:

• Vote-Escrow, initially introduced by Curve, is implemented to bolster incentives for long-term token holders.

• Staking, rebasing, and bonding, or the (3,3) game theory, is a design inspired by Olympus DAO.

Collectively, the ve(3,3) mechanism incentivizes behaviors that are aligned with Keller's success, including liquidity provision and long-term token holding. Liquidity providers receive $KELL emissions, while $veKELL holders receive protocol fees, bribes, rebases, and governance power.

Summary

Keller incentivizes liquidity through its Lock & GovEarn model.

This entails rewarding liquidity providers and active governance participants through multiple channels, including emissions, trading fees, bribes, and rebases.

This system inherently strengthens pairs with the highest value for the ecosystem.

In summary, here is how it works:

1. By locking KELL you'll get veKELL.

2. By holding veKELL, you'll gain the ability to govern over the distribution of KELL emissions.

3. By governing you will earn additional rewards (GovEarn):

   • 100% trading fees.

   • Bribes.

   • Rebase.

Governance in this context doesn't refer to voting on proposals related to the future of the protocol. Instead, it involves voting for gauges on a weekly basis to determine the distribution of KELL to each of them.