Enable KING/WETH (0.25% fee tier) V3 gauge on Ethereum

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Enable KING/WETH (0.25% fee tier) V3 gauge on Ethereum

Overview

Proposal to enable KING/WETH (0.25% fee tier) V3 gauge on Ethereum

Background

King Protocol is a unified restaking rewards protocol acting as a vault that holds the rewards tokens as underlying assets. Through King Protocol, LRT projects can pool restaking network protocol rewards into a single vault and issue vault share tokens to their stakers (or distributor contract). This system cuts transaction costs and streamlines the rewards process, great for those with smaller stakes who might find it easier to manage and trade their shares collectively. Larger stakeholders can redeem and possibly arbitrage, which will drive the market price of King token.

With the goal of building robust liquidity for the KING-WETH pair on Ethereum, King Protocol is committed to incentivizing the pair through the Cakepie Voting Market. King Protocol plans to distribute incentives to voters each epoch, aiming to maintain a competitive APR for KING-WETH liquidity providers and encouraging long-term participation. King Protocol looks forward to leveraging the services provided by PancakeSwap and Cakepie, promoting sustainable growth for all parties involved.

Details

Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 1% emission cap

Audits:

  • Nethermind:
  • Nethermind:

Token Utility: It consolidates restaking rewards, reducing fees and simplifying multi-asset yield for stakers.

Volatility: Not a pegged asset

Oracles: No oracles used

Control: The private keys to the contract are controlled by the following 4/8 multisig (0xF46D3734564ef9a5a16fC3B1216831a28f78e2B5), where transactions require validation from 4 out of 8 signers.

Merit: By whitelisting the KING-WETH V3 pool, PancakeSwap can potentially attract more TVL and generate trading fees while voters within the ecosystem can earn voting incentives.

Links

KING Token address:

Liquidity pool address:

Website: https://kingprotocol.org/

Socials:

Documentation: King Protocol docs

Github: ​​github.com/king-protocol

Any other relevant links: Rewards Points' Program | King Protocol

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Cakepie supports the KING-WETH gauge application and looks forward to collaborate with King Protocol through the PancakeSwap framework.

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