King Protocol
I would like to tell you about the King Protocol project, how it works, and its discord scoring system
King Protocol is an innovative project in the field of decentralized finance (DeFi) that simplifies the process of receiving and distributing rewards from restaking. Formerly known as LRT², King Protocol unifies and standardizes the distribution of multi-asset rewards, allowing users to receive a single KING token representing their share of the reward basket.
The project already has its own KING token:
King Protocol mechanism
- Aggregation of rewards: Re-staking protocols (e.g. Liquid Restaking Tokens or LRTs) deposit their rewards into the King Protocol's storage. In return, they receive an equivalent number of KING tokens representing the user's share of the reward basket. This greatly simplifies the management and trading process for users, as they do not need to separately receive and exchange different tokens.
- Token issuance and redemption: Users can exchange KING tokens for their shares of the underlying assets at any time, providing transparency and control over their investment.
- Vault valuation: King Protocol uses price oracles to estimate the value of both the contributed rewards and the underlying assets in the vault. This ensures a fair and accurate assessment of the value of KING tokens.
- Asset rebalancing: To maintain a desired asset allocation and optimize returns, a warehouse may rebalance its holdings. This helps manage risk and ensures the stability of the value of KING tokens.
Join Discord and invite friends
To get started, you need to join the Discord King Protocol (you need to confirm the invitation)
• Next, go to the “Invite-tracker” branch
• Enter the /Invite command
• You will be given a unique invitation link to the server that you send to your friends, as well as show what rank you are on the invitation list
Points will be awarded for this (Ducats)
Point system on the server
The project has its own system of points (Ducats) on the server: for an asset, content in various forms (posts, articles, videos, etc.)
These points will be converted into King Points in the future and there will be rewards for them👀
For what and how much Ducats are charged specifically👇
🔸Tweets:
▪️ Create and publish a tweet - 25/50 Ducats
🔸Treads:
▪️ Write and publish a topic (minimum 5 tweets) - 150/250 Ducats
🔸Articles:
▪️ Write and publish an article - 500/1000/1,500 Ducats
🔸Graphic design:
▪️ Memes: Create a meme - 25/50 Ducats
▪️ Create a graphic - 50/75 Ducats
▪️І nfographics: - Create an infographic - 150/250 Ducats
🔸Video content:
▪️ Short Videos: Create a 15- or 30-second video - 250/500 Ducats
▪️ Longer videos: Create a video longer than 60 seconds - 1,000+ Ducats
🔸Translations:
▪️ Tweets: Translate a tweet - 25 Ducats
▪️ Threads: Translate a thread - 100 Ducats
▪️ Articles: Translate an article - 500 Ducats
Once you've done your work in the form of content, don't forget to fill out the form to have your content reviewed and awarded with ducats
Ducats are also awarded for participating in various events
From the last one, it was an AMA session for which 200 Ducats were awarded to all those who watched the stream. And I am sure that such events will continue in the future
The most interesting thing is that the project hasn't gained much popularity at all, and we may become early adopters
📊Some statistics:
• On Twitter - 979 followers
• And in discord - 748 participants
Therefore, I advise everyone to familiarize themselves with this project and articles by really early users, believe me, it has a lot of prospects🔥
My Twitter account is https://x.com/Glodin9
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