Staking

Earning/Staking Opportunity Venues

It has became the common knowledge and realization that one of the most important key factors responsible for the success of the Legacy Bitcoin network, was the incentivization of the network participants maintaining it and of those joining early. In combination with the blockchain technology powering Bitcoin, it lead to the explosive interest in this brilliantly designed innovation. Similarly, Kovrita project is relying on the incentivization process to spread its new ideas and to take them to the next level. Our project is setting the stage for the actual usage of concepts for Decentralized Stablecoins Offering (DSO) and Initial Decentralized Exchange Offering (IDEO).

The incentivization model of Kovrita DSO is essentially a variation of the well-known chain of events which happen during “standard” ICOs. However, the only thing that they have in common with DSO, is the concept of coin target price and comparable percentage values of incentive rewards, given to early coin offering participants.
The key features of the DSO model introduced by Kovrita project are: (1) Stable, fixed sale/purchase values at all stages of the DSO and after it; (2) The concept of Soft and Hard Withdrawal Fee Caps; (3) No restrictions for the duration of DSO (4) Down to the day precision in rewarding system adopters; (5) Open to multiple rounds of DSO fundraising for the same stablecoins; (6) Trust building/confirming option via periodic releases of platform assets into “locked in forever” functional Ethereum contracts; (7) Option to run DSO and IDEO concurrently.

Bounty Announcement

Our Software Engineering team has purposely embedded mild vulnerability into the system. If and when this vulnerability is exploited, the team will get an instant notification. We are offering a Bounty to those skilled in the Art of Hacking, if they discover this vulnerability, along with our invitation to join our team of developers.

Reward options for system adopters.

In order to participate in all of the Kovrita Staking Reward Options, it is necessary to buy USDk coins and make a deposit into a chosen staking contract. To stop staking, a user needs to request a withdrawal, which is a subject of the “Soft Withdrawal Fee Cap”. Such fee is, most of the time, the same for every withdrawal option, however, depending on the current DSO stage, it may vary for each of the staking options, and possibly for the chosen for withdrawal cryptocurrency. All of the staking withdrawal fees will be shown within the corresponding section of the Kovrita User Interface.

After the entire system’s staking option withdrawals, by all system users, reach approximately 38%, the “Hard Withdrawal Fee Cap” will be applied to all withdrawals and this event will set the ending point of the current DSO round. Users can then choose to either withdraw from staking contracts or hold their staking position, in order to continue receiving shared rewards from future platform operations. Such users will automatically become the project’s stakeholders.