Enable KRWO/USDT (0.01% fee tier) V3 gauge on BNB chain

Gauges
1

Overview

  • Proposal seeks to enable KRWO/USDT (0.01% fee tier) V3 gauge on BNB chain

Background

  • KRWO is an emerging and the only stable coin project in South Korea. KRWO issued by GimSwap are fully backed by fiat-based assets, making them interchangeable with those assets.
  • KRWO - GimSwap recently started its first marketing campaign and plan to launch campaigns aggressively to increase TVL and earn credibility. Spending marketing budget is affordable as GimSwap successfully raised fund from major investors(1.5M USD+).
  • Total supply of KRWO during last few months ranged up to 1.4M+ (USD) and expect TVL to rapidly increase from campaigns and enabling KRWO/USDT v3 gauge on BNB chain.

Details

  1. Boost Multiplier and Emission Cap %: 1.00x boost multiplier, 0.5% emission cap

  2. Audits: Link

  3. Token Utility: KRWO is a KRW (Korean Won) - based stablecoin, designed to offer stability by eliminating exposure to foreign exchange volatility and Korean premium. Every KRWO is fully backed by Fiat-backed Assets, ensuring it can be exchanged 1:1 for Korean Won. Future expansions to additional networks are planned to broaden adoption and improve accessibility. KRWO aims to enable seamless transactions between Web2 and Web3.

  4. Volatility: KRWO has not previously de-pegged.

  5. Oracles: No oracles are used for this pool.

  6. Control: The private keys controlling the KRWO token contract and Position Manager vault contract are securely stored in a hardware wallet. We do not use a multisig setup at the moment. The owner is 0xC34e0D2b73E5c5a826Fa4a86C240cac9fd347C1C, which holds administrative privileges. We have strict internal security measures, including hardware wallet storage and restricted access, to ensure the safekeeping of these assets.

  7. Merit: As KRWO will be holding big and continuous marketing campaigns, it will gain many Korean users and credibility. Moreover, as Koreans are one of the largest crypto players in the global web3 market, KRWO/USDT v3 pool will be one of the pools that the Asian crypto investors to provide liquidity via PancakeSwap in order to hedge forex risks among USDT.

Links

  1. Token address: 0x5868A0Bc3a64CFf82e19A135E17fE18E18E03bC1
  2. Liquidity pool address: 0xC23dD98d3ae772A420a615F8d1b202BA53588d2A
  3. Website: GIM SWAP | KRWO
  4. Socials: X, Telegram
  5. Documentation:https://docs.gimswap.com/
  6. Github: GimSwap (GimSwap) · GitHub
2 Likes
2

Thanks for submitting your application!

After our review and internal team discussions, we believe now is not the best time to offer you a gauge. We are genuinely grateful for your timely responses to our questions and efforts in filling out the application.

However, we are keen to re-evaluate your application once KRWO gains more traction.

Let us know if you have any comments or questions otherwise let’s revert soon!