Thanos/Babena AMA Recap

On November 4th, we had an Ask Me Anything interview with Thanos about his Babena DeFi yield farm protocol set to come out this month on the Kadena blockchain. For those who missed it, we are here at the Kadena Project Network (K.P.N.) to recap the AMA for you.

Overview

Babena is a Certificate of Deposit protocol where you lock in your $KDA for a time of your choosing and earn $BABE token for locking it up. Once you lock in your $KDA, the APR you earn in $BABE tokens is set in stone until the unlock period of your predetermined choosing. Thanos is the developer and founder and has been doxxed to the Kadena Foundation Team, and is an ambassador for the project, so he is trustworthy.

Developer Background

Thanos is the founder and developer of the Babena protocol. He is also known for his work on Anedak and Aswap. He is an Ambassador for the Kadena Foundation and has been privately doxxed to the official Kadena Foundation team.

He does not plan to publicly doxx at the moment.

Key Points

• You can Emergency Unlock your $KDA after half of your chosen lock time, but it will cost you 10% your initial lockup and you will lose a portion of your $BABE rewards. The $KDA and $BABE then go into the liquidity pool on Aswap for the $BABE token (Anedak Swap)
• The smart contract was peer reviewed by many people and there is a bounty hunt reward for those who find more bugs. There were a few bugs but they were fixed and nobody found any critical issues
• Mainnet launch is expected by November 14th but could come later
• Future plans for a Lottery system similar to PancakeSwap lottery

Extra Information

@babena_io on Twitter is another project that goes by Babena, not owned by Thanos. They are working on an NFT collection. We at the K.P.N. support both projects.