Introducing $KNOX (KnoxDAO Reserve) Token
In order to reduce token total supply from 10B to 9M for fair governance of our DAO governance token, KNOX tokens were airdropped in Celo Network at a 1:1 rate to existing KNX holders (those with more than 1 KNX in their wallets) and Ubeswap KNX-CELO LPs. The snapshot was taken on March 18 on both Celo and Ethereum Networks (Ethereum KNX holders receive KNOX tokens in Celo Network as well).
KnoxDAO Reserve & KNOX Index Value
Since all KNOX tokens have been released and its total supply is capped at 9M, it is a better index token to track KnoxFund assets performance and has an index value of
KNOX index value = KnoxDAO Fund AUM / KNOX circulating supply
Please read this article on our index token for details: https://knoxdao.medium.com/knoxfund-knx-as-an-index-token-b81da004a46b
What about KNX token?
Due to significant KNX buyback from our DAO-owned liquidity pool in the past few months, KNX currently only has a circulating supply of <1%. Therefore, KNX tokens are not ideal to be a fair governance token, and KNOX tokens were airdropped to existing KNX holders to reduce token total supply from 10B to 9M for fair governance of our DAO. Here is a summary of KNOX token:
- Fair launch, 100% community-driven, airdropped to KNX holders
- Reduce total token supply from 10B to 9M to ensure fair community-driven governance
- There will only ever be 9,007,035.930907 KNOX tokens
- No new KNOX tokens can be minted
KnoxDAO Reserve Assets
In December 2021, the community has made several community-driven investment decisions to diversify our DAO fund on https://commonwealth.im/knoxedge when snapshot.org was not supported on Celo network yet.
KNOX contract address: https://explorer.celo.org/token/0x833fD14F0FD4eaA47433A07428a46d1Ac60fA591
kUSD contract address: https://explorer.celo.org/token/0x266C13DeD5A1d636E502fd56B3F76d38c3107EC2
Knoxer NFT contract address: https://explorer.celo.org/token/0x1F25F8Df9E33033668d6F04DAE0bDE4854E9F1A5