FAQs
Curious minds, rejoice! Below, we've put together common questions that act as your trusty guide, providing clarity as you venture forward. Let's set out on this journey of discovery together! 🚀
Does Kaching charge any fees?
To celebrate the launch of Kaching, we will NOT be charging any fees for using our protocol. What this means is that all the yield derived from your capital through the yield strategy will be 100% distributed as prizes.
The fee structure may change, but we will be sure to announce this in advance on our Discord!
Please note that gas fees still apply.
What transactions do I need to interact with Kaching?
To start your adventure, your currency of choice is WCRO. If you're bringing in CRO, your initial move involves wrapping it into WCRO through a straightforward swap. This transformed WCRO then finds its way to the Kaching contract, joining the ranks of assets in our yield-bearing strategy. And if you're directly staking WCRO, it's a smooth transfer to the Kaching contract.
What are the prizes, and where do they come from?
Here's how it works: We deploy the capital into enchanting yield-bearing activities. The yield generated will be claimed on a daily basis and serve as the mesmerizing prizes for that day.
Prize in Base Draw is yield generated from Tectonic Finance. Prize in Turbo Draw is yield generated from Cronos POS validators through Veno Finance
For example, if the weekly yield from our strategy rewards us with 1,000 CRO, we'll distribute these enchanting prizes among our lucky winners. The more total $CRO deployed by Kaching, the greater the daily prizes to be shared among our worthy adventurers!
From time to time, we may also subsidize the prizes with more CRO rewards, so pay close attention to the announcements channel on our Discord!
Can I withdraw my balance?
Absolutely! Kaching gives you the freedom to unstake your balance whenever you like. However, it's important to keep in mind that unstaking does impact your chances of winning a prize in the ongoing draw. Partial unstaking will reduce your chances of winning prizes and complete unstaking will result in being ineligible for the next draw period. The decision is entirely yours: you can either embrace your rewards right away or continue your journey with your balance intact.
What is Potential APR?
It's a calculated based on current figures that offers an indication of the potential returns you might see on your $CRO balance within Kaching. This estimation considers elements like Total Value Locked (TVL) in Kaching, the yield generated by our smart strategy, and any added incentives.
However, it's important to note that the APR displayed is variable and not a guarantee, and actual APRs may be lower or higher than as displayed. APR also does not account for risks. Please review our full documentation and Risk Disclaimers. Participants are solely responsible for understanding and evaluating risks. We do not provide any investment, tax, legal or other professional advice. Use Kaching at your own risk.
What is Winning Chance?
‘Winning Chance’ is the estimated probability that you win a prize for the upcoming draw based on your current picks. This figure increases with stakings, due to being allocated more picks, and decreases with burns, due to being allocated fewer picks.
As ‘Ante Up’ (Tier 4) prizes has the lowest criteria for matching (and hence more combinations attain this tier), ‘Winning Chance’ can also be construed as the likelihood of attaining ‘Ante Up’ prize for the upcoming draw.
The Winning Chance displayed is variable and not a guarantee, and actual chances of winning may be higher or lower than as displayed. Winning Chance does not account for risks. Please review our full documentation and Risk Disclaimers. Participants are solely responsible for understanding. We do not provide any investment, tax, legal or other professional advice. Use Kaching at your own risk.
What is the Mega Draw?
The Mega Draw is poised to ignite the excitement to unprecedented levels. Scheduled to kick off upon the launch of the Kaching token, this thrilling event is set to evolve as we reach key protocol milestones. Starting with a captivating prize pool, the Mega Draw prizes will ascend up to a dazzling $50K, promising a grandeur that matches the scale of our achievements.
Stay tuned for forthcoming updates as we unravel the details of this epic venture. Your chance to win big is on the horizon! 🚀🏆
How does the timing of my CRO stake affect my chances of winning?
To maximize your chances of winning the draw, it's important to stake your CRO before the "Offset" time. Stakings made after the Offset time will count towards the next draw. The "Offset" is a specific point that signals the conclusion of the balance consideration period for the ongoing draw. Any stakes made after this point will be factored into the subsequent draw.
Why might the UI countdown differ from the actual results time?
While the UI countdown provides an estimate, the actual time the results are available could vary by around +- 1 hour due to the time needed to run the draw scripts. However, we will continuously enhance our processes to optimize the script runtimes.
How do I find out the number of prizes per tier in a draw?
The configuration of the number of prizes for each tier may be adjusted before each draw period begins. Please note that once the Beacon Period starts, the configuration will be locked and cannot be changed. This ensures fairness and transparency throughout the draw process. "Beacon Period" refers to the duration between each draw. It marks the end of the current draw and the beginning of the next, during which the Random Number Generation (RNG) service becomes available for requesting.
How many winners are there per tier in each draw, and is this count fixed?
The number of winners per tier in each draw is probabilistic and may not necessarily reach the maximum possible count. While the maximum number of winners for each tier per draw is defined, the actual count can vary due to the probabilistic nature of the draw.
What happens to the prizes if no ticket matches the higher-tier winnings in a draw?
If no user's ticket matches the tier of winnings that require a higher degree of matching, the prize pool for that tier remains unclaimed for that draw. The unclaimed prizes are not rolled over or added to future draws. Instead, they are utilized to derive additional yield, which contributes to the overall value of prizes, especially after the subsidized period.
What is Base Draw?
Base Draw is the renamed from Kaching Draw which is also known as the first daily draw in Kaching protocol. The staked CRO will be safely sent to Tectonic Finance to earn staking rewards provided by Tectonic. You can learn more about the daily draw here.
Note: Base draw sunsetted on Aug 28th 2024.
What is Turbo Draw?
Turbo Draw is the second daily draw in Kaching protocol. The staked CRO will be safely sent to Veno Finance to earn rewards from Cronos POS validators. You can learn more about the daily draw here.
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