bKARMA is a token that represents the whitelisting of early users and will grant bKARMA token holders the right to purchase the KARMA token at a floor price of 1 stable coin representing 1 USD.
To ensure a fair launch, there will be no initial token offering or token sale of any kind. Karma Bond will be fully decentralized and community owned.
Early users of the Karma Bond protocol will receive bKARMA tokens when bonding their LP tokens, in addition to the discounted protocol token.
For every 1 USD of fees paid the user will receive 0.9 bKARMA.
A whitelisted user will be able to redeem KARMA tokens at the following ratio:
1 bKARMA + 1 USD = 1 KARMA
For each bKARMA mint, 90% goes to the user and 10% goes to the Karma Bond early contributors. Karma Bond early contributors will be able to redeem KARMA tokens in the same manner as the Karma Bond early users, ensuring there is no preferential treatment and a fair distribution of the initial KARMA token supply.
All of the provided stable coins will be deposited into the Karma treasury. This will ensure that the initial KARMA token circulating supply is backed by at least 1 USD worth of stable coins.