The first-of-its-kind $KURO Nest is Now Live on ViperSwap!

Stake KURO-VIPER LP tokens to earn VIPER!

Get Ready to Earn $VIPER!

We are super pleased to announce that the long-awaited TokenJenny.ONE x VenomDAO grand prize has come to fruition!

After an incredibly successful Snake Month, VenomDAO has not only launched CobraSwap — something us sneks have been looking forward to since March — but now also presents an innovative way to earn VIPER.

As some of you may already know, ViperNest is a new staking feature that launched on July 17th. According to ViperNest’s introductory Medium article, “[t]here will be special pools where you can stake a specific token and earn VIPER.”

Additionally, VenomDAO announced their new CommunityPools feature today, which is a special type of ViperNest where, instead of single staking (e.g., stake VIPER to earn KURO), users can stake LP tokens to earn another token.

This means, you guessed it…

Kuro Shiba is getting a first-of-its-kind CommunityPool where users can stake KURO-VIPER LP tokens in the pool to earn VIPER! 🐍

Look at that APR! 👀

You can access the KURO Nest under Staking > Community on ViperSwap. Direct link: https://viper.exchange/#/staking/community.

Now the KURO Nest is not your average ViperNest or CommunityPool, because VenomDAO has generously seeded the KURO Nest with a big VIPER reward pot, providing an anticipated APR of 60% split over 30 days.

Additionally, you will continue to receive your pro rata share of 5% rewards on every KURO trade based on the amount of KURO held in your wallet, as rewards do not need to be turned off for a ViperNest. (Auto rewards will not be distributed based on any KURO you’ve added to the ViperNest or the regular KURO-ONE pool on ViperSwap.)

Note that the ViperNest works differently from the KURO Gem Mine. Instead of paying a one-time fee to start mining, your ViperNest rewards will scale along with the amount of KURO-VIPER LP you add to the Nest. That is, the more the KURO-VIPER LP tokens you add, the more VIPER you will earn.

Also, keep in mind that the maximum transaction limit for each KURO transfer is still 1% of the total token supply — or 5,000,000 KURO.

Now we understand this staking mechanism is a bit different than originally announced in Jenny’s Token Tournament, but this pivot is in the best interest of all communities involved. The Kuro Shiba, TokenJenny, and VenomDAO teams have been hard at work behind the scenes to get everything just right. For transparency, we’ll explain the reasoning behind the change:

What Happened to the Incentivized Pool?

Originally, the tournament grand prize was going to be a regular incentivized pool on ViperSwap. However, PolyYeld Finance (YELD) — a yield farm on Polygon — was recently exploited and crashed to zero when hackers used a deflationary token to cause the YELD MasterChef contract to mint an extra 4.995 trillion YELD, swapping 4% to ETH, and making off with ~$250,000 USD of stolen funds. More details on Twitter.

Of course, KURO is also a deflationary token and the ViperSwap MasterBreeder contract does not support tokens with a transfer tax.

Although we had set KURO’s auto burn feature to 0% based on community voting (tx hash), set the auto rewards feature to 0% (tx hash), and excluded the ViperSwap MasterBreeder contract from rewards (tx hash) and fees (tx hash) in preparation for the incentivized pool, the risk of interference with the MasterBreeder contract is still too great.

For example, KURO’s auto rewards kept reverting back to 5% despite being set to 0% several times. It’s possible that the contract that KURO is forked from was not designed to have these fees at 0%. Accordingly, in the interest of investors’ funds and the health of the protocol, a regular incentivized pool on ViperSwap simply cannot happen.

Why is KURO paired with VIPER instead of ONE?

Also, originally, we presumed we could stake KURO-ONE LP tokens in the incentivized pool to earn VIPER. However, with the change from a regular incentivized pool to a brand new ViperNest, we wanted to use this opportunity to promote both KURO and VIPER, as Kuro Shiba and ViperSwap are both DeFi projects collaborating for the sake of not just our own communities, but also the growth of the Harmony ecosystem. 🐍💖🐺

Accordingly, by pairing KURO with VIPER (instead of ONE) and launching the inaugural VIPER-earning ViperNest (instead of a regular incentivized pool), KURO is getting the best of both platforms and gaining even more exposure.

As an added bonus, due to expected price action following the end of Snake Month, you can now get 3x more VIPER tokens for your ONE than you would have been able to at the height of Snake Month shenanigans. 😅 As VenomDAO perma-bulls, we’re happy to increase our VIPER bags!

We also want to give major props to 0xViper for all the extra work he put in to make this pool happen for us, as well as the CMs who’ve coordinated with the KURO team for the past month on how to best implement the pool. Thanks, guys!

How to Convert Your KURO-ONE to KURO-VIPER:

For those who have held onto their KURO-ONE LP tokens, don’t fret! It’s super easy to remove your LP tokens, split them back into KURO and ONE, and swap your ONE for VIPER. Here’s how:

1. Go to the “Pool” tab of viper.exchange to manage your LP.

You should see the KURO-ONE liquidity pool under the “Pool” tab. If not, click on “Import it” at the bottom of the screen and select KURO from the dropdown menu to import the pool. Then click “Manage” and “Remove.”

ViperSwap > Pool > Manage > Remove.

2. Remove your KURO-ONE LP tokens from ViperSwap.

To remove all of your KURO-ONE liquidity, select “Max” and click the “Approve” button. Next, click “Confirm” in the MetaMask popup. After confirming and waiting a few seconds for the transaction to complete, click the “Remove” button on ViperSwap. You’ll need to confirm this again in MetaMask.

Max > Approve (if you have 5,000,000 KURO or less).

Note that the maximum transaction limit is 5,000,000 KURO, so if you need to remove more than that amount, you will need to click on “Detailed” and remove your KURO 5,000,000 at a time.

Detailed > Set KURO to 5m or less > Remove (if you have more than 5,000,000 KURO).

After all this Approving > Confirming > Removing > Re-Confirming, you should see your Venom LP tokens in MetaMask be replaced with your freshly unpaired KURO and ONE tokens.

3. Swap your unpaired ONE tokens for VIPER tokens.

Now that you have your ONE tokens unpaired from KURO, click on the “Swap” tab on ViperSwap. Select “VIPER” from the dropdown menu, and swap your newly unpaired ONE for VIPER. Then confirm the swap on ViperSwap and in MetaMask.

Swap > Confirm.

4. Add KURO-VIPER liquidity to ViperSwap.

After swapping your unpaired ONE for VIPER, you should have approximately equal value of KURO to VIPER and you can now pair these tokens by going back to the “Pool” tab on ViperSwap and clicking the “Add Liquidity” button.

ViperSwap > Pool > Add Liquidity.

Then select KURO and VIPER from the dropdown menu, enter the amount of KURO and VIPER tokens you’d like to add as liquidity (it’s easiest to just hit the “Max button”), and click the “Approve VIPER” button. Then confirm the transaction in MetaMask.

Next, you’ll need to click the “Supply” button on ViperSwap and then confirm this again in MetaMask to finish supplying KURO-VIPER LP to ViperSwap.

5. Stake KURO-VIPER LP tokens in the ViperNest to earn VIPER.

Now, for the final step, go to the “Staking” tab on ViperSwap and click on “Community.” You should see the KURO-VIPER pool with the current APR. Click on “Deposit.”

Staking > Community

Now click “Deposit” again to deposit your KURO-VIPER LP tokens to the pool and start earning VIPER. That’s it, you’re done! All the VIPER you earn is completely unlocked, and there is no withdrawal fee so you can remove your KURO-VIPER LP at any time. Enjoy your rewards!

Thank you TokenJenny and VenomDAO for this amazing opportunity! 🐍🐍🐍

And as always, thank you KURO fam for your continued support! We appreciate each and every one of you!

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Kuro Shiba (KURO)

Kuro Shiba (KURO)

Kuro Shiba (KURO) is the cutest project on Harmony, aiming to strengthen the Harmony ecosystem through collaboration, innovation, & yield-generating NFTs! ✨🍙🍡