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Overview

The Kittenswap Token Generation Event (TGE) was designed to ensure a fair and transparent distribution of KITTEN and veKITTEN tokens and has successfully concluded, establishing a strong foundation for the protocol’s long-term success. The raise for TGE was held in HYPE tokens on the HyperEVM over multiple rounds. Participants can now claim their veKITTEN and KITTEN tokens on the dApp.

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TGE raise price

15% of the veKITTEN/KITTEN was allocated for the TGE. The price was based on the raise FDV and round type. Read more about the NFT & Public Raise - TGE of KITTEN and veKITTEN tokens.

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Launch price & initial liquidity

32,250 HYPE was paired with 60,000,000 KITTEN tokens (6% allocation) in a vAMM-KITTEN/HYPE pool to form the initial liquidity. The initial price of KITTEN was approximately 0.0005375 HYPE per KITTEN at launch.

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Claiming veKITTEN and KITTEN

At launch, claiming was available on the dApp, given a user-defined ratio (and instant exit penalty applied). Participants can still adjust their claim ratio under the same conditions. The ratio will start at:
  • 100% veKITTEN
  • 0% KITTEN
By increasing the KITTEN ratio, participants needed to pay an instant exit penalty of 50% in HYPE token at the launch price. The maximum ratio was:
  • 50% veKITTEN
  • 50% KITTEN
All exited penalties from the TGE have been used to defend the price floor and pair with the remaining 40,000,000 KITTEN tokens (4% allocation) to increase the protocol-owned liquidity.

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Raised HYPE funds distribution

32,250 HYPE has been paired with KITTEN in a vAMM to form the initial liquidity pool. The remaining HYPE is held in the treasury:
  • External audits (when required) will be paid out from this
  • Liquidity and vote bribing incentives
  • Runway for development