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Kaia DLT Foundation adds JPYC to rewards and announces 4.9M KAIA burn
The Kaia DLT Foundation has announced the addition of the Japanese yen-pegged stablecoin, JPYC, to its Contribution Reward (CR) program. Starting with the fourth settlement cycle on October 21, users who deposit JPYC into Unifi wallets will be eligible for rewards, provided they stake 10 KAIA for every 1 USD value of the stablecoin. The value of JPYC will be converted to USDT equivalents using average prices calculated by the Orakl on-chain oracle.
In conjunction with this expansion, the foundation is implementing a regular token burn to manage supply. Approximately 4.9 million KAIA tokens that were not distributed due to failure to meet contribution requirements will be burned. The first installment of 2,463,579 KAIA is scheduled for October 21, while the remaining 2,441,567 KAIA will be burned in November. This move aims to prevent unallocated rewards from entering the circulating market.
The CR program, which replaced the previous Proposal Reward system in July, allocates a fixed monthly budget of 2.5 million KAIA to participants who actively contribute to the network. Kaia DLT Foundation Chairman Seo Sangmin stated that the initiative is designed to reward genuine contributors while ensuring unused tokens do not impact market circulation, with the long-term goal of expanding the ecosystem for various Asian stablecoins.
Entities
JPYC · Kaia DLT Foundation · Orakl · Seo Sangmin · UniFi
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Approximately 4.9 million KAIA tokens will be burned in two stages. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] To qualify for rewards, users must stake 10 KAIA for every 1 USD value of stablecoin deposited. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] The second burn of 2,441,567 KAIA is scheduled for November. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] JPYC value will be converted to USDT value using the average price from the Orakl on-chain oracle. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] The first burn of 2,463,579 KAIA is scheduled for October 21. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] The monthly reward budget for the Contribution Reward program is fixed at 2.5 million KAIA. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] Kaia DLT Foundation will add the Japanese yen stablecoin JPYC to its Contribution Reward (CR) program. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp
- [● 4 SOURCES] The inclusion of JPYC in the reward program will begin with the fourth settlement cycle on October 21. www.tokenpost.kr · www.blockmedia.co.kr · biz.heraldcorp.com · prtimes.jp