What is KORE Token? KORE Vault Explained

what is KORE token

KORE Vault is a DeFi platform inspired heavily by YFI and CORE as it also does not have continuous token generation. Every feature on the platform aims to capture value for KORE holders by increasing buying pressure, and autonomous yield generating.

What is KORE token?

KORE is a non-inflationary cryptocurrency, meaning its supply is capped at 10,000 and no new tokens will ever be minted. As a DeFi platform, the KORE Vaults aims to autonomously generate profit for its users. The project builds off the strategies of Yearn Finance vaults, which automatically move deposited assets following strategies to farm the highest returns from other protocols. The main idea is that hundreds of users can come together as one super investor, which saves them a lot of time and money.

what is KORE token?
KZap allows easy investing into KORE

As a result, users save time from not having to continuously search and find the best DeFi farming strategies. And the money saved from keeping transaction costs to a minimum, as there should be less staking and unstaking. However, with KPools all the generated profit is used to market buy KORE and distribute to stakers.

Liquidity Generation Event… KORE tokens were distributed through a fair launch smart contract. This allowed the team to generate liquidity which went immediately into the Uniswap pool. It works by investors depositing ETH, and receiving KORE Uniswap LP tokens in return.

  • KORE Uniswap LP tokens are locked in the liquidity pool, meaning holders can never withdraw them for the underlying assets. A process is known as liquidity locking, which ensures KORE will always have liquidity for trading.

Deflationary Farming… Buying pressure increases as more users stake in the KPools (as KORE is locked). To keep the ecosystem sustainable and an incentive to lock up more liquidity, there is a 1.5% transaction fee on KORE sales. From this fee, 7.24% is given to the devs and 92.76% goes to the farmers.