The total supply of KLAP tokens is 1 billion yuan. Of these, 60 million tokens will be provided initially, accounting for 6% of the supply, bringing the total supply of tokens to 1 billion. The market value of KLAP reached 75 million US dollars.
Additionally, the KLAP token will foster a range of use cases within the protocol's ecosystem. A portion of the total supply will be rewarded to circulation providers and initial pickers. Since KLAP was launched in May, the total amount locked on the platform has soared to more than 100 million US dollars.
The KLAP team stated: "We are excited to make the KLAP token a utility in our system and provide additional functionality to customers after the launch of his protocol. Owning it. KLAP decentralization is a key next step in the development of the community."
Notably, KLAP has committed 5% of the token supply to initial customers. Anyone who participates in his premine or staking program will be able to receive his KLAP tokens at launch on the 25th.
In addition, KLAP customers who choose to lock on the platform will receive a certain period of token protocol veKLAP, which is a non-tradable representation of their shares, unlocking a series of new functions. Lock its tokens in this way. KLAP holders, investors and KLAP-KLAYLP will get veNFT.
veKLAP holders will also be able to vote on more common protocol-level decisions, such as the use of treasury funds and proposals to include additional utilities. Additionally, holders are able to vote for various KLAP pairs on ClaimSwap to provide liquidity.
