Community Update #6
First of all, thank you for sticking with us through the exciting launch of Ketchup! Thank you for being patient with us, being supportive and providing quick feedback🙏
✅ Below explains the next steps:
1. What happened?
2. How and when the $KHP losses will be reimbursed?
3. New Ketchup staking pool
5. UI update, APYs updates- manuals will follow in the next post
1. What happened?❗
There was a minor detail that was not updated on the v1 ketchup contract to account for the 2% fries burn in relationship to the amount of ketchup received when staking. This resulted in people staking their fries receiving more ketchup than they should have. However, this was quickly found and ketchup v2 contract was published!
Please note: The old staking page is still up for anyone to unstake their previous amount. Under “Staking (old)”, and the new Ketchup contract which is live can be found by clicking “Ketchup (new)” at the top menu:
2. New Ketchup staking pool 🍅
The new ketchup staking contract can be found here:
The new ketchup token is called “fry.KetchupV2” with the same symbol: KHP. Staking is now live!
3. How and when the $KHP v1 losses will be reimbursed? 💰
Majority of the users that suffered a loss on the contract did from losing the regular burn of 2% to go into and out of the contract (4%). Half of this was sent to the strongfries, which will cover this amount. There was another 2.5% withdrawal fee, which the team will fully reimburse. Any further loss will be refunded from the dev fund in full. The team will be going through the entire list of v1 addresses who took a loss and report back with a full report and details on the payback in 1–2 days.
4. FAQ ❓
- How to receive $KHP?
In order to receive $KHP you need to go here: https://fry.world/stakingv2 and stake your FRIES. Remember: The amount of ketchup a user will receive is calculated to create a fair entry:
(amount of Fries to stake) * (total Ketchup) / (totalFries in staking)
- How does the Harvest work? Is it automatic?
There is an auto harvest of the 2X pool every 4 hours which goes directly into the Ketchup staking contract. After each harvest your total % share of the pool will stay the same, but the amount of Fries in the pool go up! This means your share of ketchup will represent more fries when you unstake.
- When Strong Fries go into the staking pool, does the % of the total pool go up?
Your % of the total pool share will always stay the same based on how many users go in and out, but the total Fries pool goes up. It means that your amount of Fries when you unstake them, goes up.
- Can I sell $KHP?
KHP is a BEP-20 token, so it is tradeable and moveable. However please keep in mind Ketchup represents your Fries stake in the pool. Trading away your KHP also results in trading away your share of the staking pool! Fries can only be redeemed for KHP tokens.
- Where can I find $KHP contract?
- What happens when I unstake?
When you leave the staking pool, or “unstake”, your $KHP amount gets burned, then converted back to Fries as follows:
Your portion of FRIES received in the total staking pool is:
(userKetchup / totalKetchup) * (total FRIES in staking pool)
❗ Please remember about 2% FRIES burn rate on every tx and 2.5% dev fee on unstaking/withdrawals from staking pool.