Bear market manifesto.

Bear market manifesto.

Times are weird out there. Let’s revisit out thesis, review our roadmap, and discuss moving forward through the bear market.

General Thesis 1: Blockchain is a superior method for transferring value in the form of information.

General Thesis 2: DeFi has proven to be the most important component of blockchain applications, and a slew of traditional financial instruments will be transformed by improved blockchain technology.

Kalmy.APP thesis: DeFi legos built in-house, without the trade-offs and compromises of cross-platform interoperability.

KALM token thesis: Changing the usual harsh emissions dilution model while preserving/creating an appealing APY environment.

Kalmy.APP and KALM token thesis: provides an appealing APY environment. The value appreciation of’s system is linked to the KALM native token via multiple token dynamics (buyback burns, bonds, voting escrow weights, etc.).

Tokenomics important comments:

A. Locks and KALM position

The ultimate goal is to prioritize KALM holders in any liquidity mining event that occurs on the platform. In theory, it makes more sense to allow liquidity mining with a native token when the miner is either a holder or has made a "subscription" contribution to the mining. A subscription here means that even if one does not wish to be a KALM investor, he would need to lock KALM in order to access substantially higher APY levels.

We will begin testing this notion with the most basic component, the KALM staking. The backend and contract are now officially ready and utilizing the standard veCRV model; however, we would like to test it for at least a week before adding it to the official UI. After the staking tests are completed and the values are adjusted, we will move on to LPs and lending APYs that will rebalance towards KALM lockers.

B. Bonds in bear vs in bull

The beginning was a little rocky, but we made the required improvements, and the community response was great. The present chain behavior appears to be healthy, and we will continue to evaluate it on a regular basis.

So far, the bear market has been a bit hit or miss for bonds, with gradual KALM LP value declines and... severe burns. With the current market climate, we are burning 12.5% of supply per year. *Sounds of hopium*.

C. Airdrops

We understand how stressful airdrops can be. We had a team meeting and determined that the quantity of past airdrops and accessible liquidity mining events for KALM was more than enough (including getting KALM through lending stable assets).

As a result, we have decided to postpone the final part of the airdrop (the airdrop for KalmySwap/Kalmy.APP users) until further notice. It may or may not occur in the future. This was a difficult decision, but after comparing our thesis and the metrics, we determined that this is now the best option for KALM holders and the existing community.

D. APY slippage and liquidity attraction events

This merits its own blog; nonetheless, the circumstances call for aggressive buidling. We will begin preparing the liquidity attraction events after the first layer of KALM locks is added across the Kalmy.APP products.

Consider this: if a large capital user finds the APY on farming with KALM locked appealing, the important concerns are a) if the APY remains constant after larger capital is deposited, and b) whether the reward's supporting liquidity is sufficient for long-term sustainable participation.

A vested-unlock in fractions lending liquidity reward pool for a short extra-incentivized period could be an illustrative event. This might be applied to the entire after the locks' metrics have settled into a predictable range. However, because there are so many moving parts in this market, we have yet to identify the optimal liquidity attraction event.


Lol. To be honest, just get ready for the fun. PFPs? Yes.

If you have KALM or original NFTs – you should be fine. We expect to drop the first details in late June/early July once the core metrics of KALM locks are adjusted.

New protocols development

We believe that "pure" lending is most needed. We will finalize details in a separate blog once we are convinced about the fit of multi-purpose lending within Kalmy.APP.

Take this with a grain of salt; finding a balanced fit for such a product in the existing ecosystem may take some time. If that is the case, we will focus locally on a new protocol for Kalmy.APP and keep Kalmarians updated in a separate blog.

Expanding the team

No dramatic paragraphs about headcount vs the market. We are feeling comfy, we are ready to add valuable people (or squids) to the KALM family. The priority/focus of hiring is to assist us with our known (yes, we read chats and comments) weak points.

That is a) front end/UX (better synching of APYs, optimizing the web/mobile versions, stable positions display) b) localization (regional AMAs, rewards distribution, relevant content translation) c) CMO (forming consistent message, strengthening branding image, building content distribution channels).

If you want to join the journey, apply for the available roles here: Become a squid - application.

P.S: Stay KALM.