Serendale 2.0—JADE Tokenomics & Emissions

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DeFi Kingdoms Official

6 min readDec 6, 2022

The relaunch of Serendale on Klaytn is finally upon us! There’s lots going on with this launch, especially with DeFi Kingdoms’ tokenomics. This article details all of the changes and specific information you need to know about the “Splittening”, the JADE token, and JADE Garden emissions.

Jeweler Ian welcomes you back to Serendale!

“The Splittening”

With the release of Serendale on Klaytn, locked JEWEL tokens from Harmony will be redistributed as JEWEL, CRYSTAL, and JADE on DFK Chain and Klaytn. The snapshots for Locked JEWEL were completed on November 14, 2022 at 12pm EST.

All of these will be distributed at launch, with the exception of locked CRYSTAL, which will take place in the following weeks.

The final percentages of this redistribution are as follows:

Locked CRYSTAL: 44.07342236579% (125m — DFK Chain)
Locked JADE: 44.07342236579% (125m— Klaytn)
Vested JADE: 5.806824466532% (~16.469m — Klaytn)
Vested JEWEL: 4.283393907257% (~12.148m — DFK Chain)
Liquid JADE: 1.762936894631% (5m — Klaytn)

Vested JEWEL and JADE will be backdated to September 24, 2022, the original unlock date of JEWEL on Harmony (Harmony Block #31,772,767).

The Snapshot and planned Airdrops for Serendale 2.0 JADE are outlined here in this document: https://docs.google.com/spreadsheets/d/1IypGCvUs1WCTHHC6znBe_Mtaj9LOwZ8EP1Ac2JW0MKE/edit?usp=sharing
The Snapshot and planned Airdrops for Crystalvale JEWEL/CRYSTAL are outlined here in this document: https://docs.google.com/spreadsheets/d/160QwesXVYvlnaOL1kpghC8e7e3CiqcrbhiIPdcHoOXw/edit?usp=sharing

JADE Tokenomics

The JADE token has a hard cap of 250,000,000 tokens, broken down according to the following allocations:

Token Allocations

Liquid JADE: 5,000,000
Claimable in full from the Jeweler at launch.

Vested JADE: ~16,469,178
Claimable at launch from the Jeweler, vesting over one year according to the original JEWEL unlock schedule from September 24, 2022 (Harmony Block #31,772,767).

Locked JADE: 125,000,000
Locked for 51 Epochs from the beginning of Garden emissions (December 8–9) and unlocking ratably over the course of one year, beginning around November 30, 2023.

Emitted JADE: ~102,743,322
Emitted from the JADE Gardens on Serendale 2.0 and Locked/Unlocked according to the Emission Schedule below.

Pre-Minted JADE: 787,500
A small amount of JADE will be pre-minted to the following:

Klaytn Quest Reward Fund: 750k — for Gardening Quest rewards
Klaytn Utility Wallet: 37,500 — used for initial LP Liquidity

Initial Liquidity

In addition to the pre-mint of 37,500 JADE, an additional 300,000 JADE (from the liquid JADE distribution to the Dev Fund) plus the equivalent of JEWEL from project funds will be allocated toward initial liquidity for the JADE–JEWEL and JADE-KLAY Liquidity Pairs. LP Tokens created by the project will be held in project wallets and never placed in the Gardens.

JADE Garden Emissions

Emissions from the JADE Gardens will begin on December 8, at 5pm EST.

Token Emission Allocations

The previously announced incentivized token pairs will be available at launch with the following emission allocations:

JADE–JEWEL: 10%
JADE–KLAY: 15%
JADE–AVAX: 5%
JADE–oUSDT: 10%
JADE–oBTC: 10%
JADE–oETH: 10%
JEWEL–KLAY: 10%
JEWEL–AVAX: 5%
JEWEL–oUSDT: 10%
JEWEL–oBTC: 7.5%
JEWEL–oETH: 7.5%

Issuance Schedule

The issuance of JADE is scheduled to change during each consecutive period of time, which we refer to as an Epoch. Each Epoch is exactly one week long and begins on the date listed in the table below. The emission curve for JADE is the same as that for CRYSTAL.

Note: these dates are approximate and will be updated once emissions begin.

+--------+--------------+-------------+-------------+------------+----------+
| Epoch  | Approx. Date | JADE/Second | JADE/minute | Unlocked % | Locked % |
+--------+--------------+-------------+-------------+------------+----------+
| 1      | Dec 8, 2022  |          16 |         960 | 5%         | 95%      |
| 2      | Dec 15, 2022 |          12 |         720 | 7%         | 93%      |
| 3      | Dec 22, 2022 |          10 |         600 | 9%         | 91%      |
| 4      | Dec 29, 2022 |           8 |         480 | 11%        | 89%      |
| 5      | Jan 5, 2023  |           7 |         420 | 13%        | 87%      |
| 6      | Jan 12, 2023 |           6 |         360 | 15%        | 85%      |
| 7      | Jan 19, 2023 |           5 |         300 | 17%        | 83%      |
| 8      | Jan 26, 2023 |           5 |         300 | 19%        | 81%      |
| 9      | Feb 2, 2023  |           4 |         240 | 21%        | 79%      |
| 10     | Feb 9, 2023  |           4 |         240 | 23%        | 77%      |
| 11     | Feb 16, 2023 |           3 |         180 | 25%        | 75%      |
| 12     | Feb 23, 2023 |           3 |         180 | 27%        | 73%      |
| 13     | Mar 2, 2023  |           2 |         120 | 29%        | 71%      |
| 14     | Mar 9, 2023  |           2 |         120 | 31%        | 69%      |
| 15     | Mar 16, 2023 |           2 |         120 | 33%        | 67%      |
| 16     | Mar 23, 2023 |           2 |         120 | 35%        | 65%      |
| 17     | Mar 30, 2023 |         1.5 |          90 | 37%        | 63%      |
| 18     | Apr 6, 2023  |         1.5 |          90 | 39%        | 61%      |
| 19     | Apr 13, 2023 |         1.5 |          90 | 41%        | 59%      |
| 20     | Apr 20, 2023 |         1.5 |          90 | 43%        | 57%      |
| 21-47  | Apr 27, 2023 |           1 |          60 | 45%        | 55%      |
| 48     | Nov 2, 2023  |           1 |          60 | 99%        | 1%       |
| 49     | Nov 9, 2023  |           1 |          60 | 100%       | 0%       |
| 50     | Nov 16, 2023 |           1 |          60 | 100%       | 0%       |
| 51     | Nov 23, 2023 |           1 |          60 | 100%       | 0%       |
| 52-100 | Nov 30, 2023 |           1 |          60 | 100%       | 0%       |
| 101+   | Nov 7, 2024  |          .5 |          30 | 100%       | 0%       |
+--------+--------------+-------------+-------------+------------+----------+

Locking Mechanism

To balance the high emissions rates in earlier Epochs and to provide price stability, JADE tokenomics include a locking model on Garden rewards. When rewards are claimed, a certain portion goes directly into the player’s wallet, while the remainder is allocated to the player’s wallet but locked.

The percentage of JADE that is unlocked begins at 5% in Epoch 1 and increases by 2% each Epoch. Unclaimed rewards continue to unlock on this schedule until claiming, at which time unlocked rewards go directly into the player’s wallet and locked rewards become fully locked until the end of Epoch 51.

Claimed locked JADE will remain locked until approximately November 30, 2023, which marks the end of Epoch 51. Locked rewards will begin unlocking ratably at that time over the following 52 Epochs.