The most recent feature we've added to Kalmy.app is locking, which allows you to lock your KALM for one week to four years to increase your APYs across all Kalmy.app products and multiply your voting power by up to 208 times.
The new utility of the KALM token allows for efficient reward distribution, with KALM holders who choose to lock their tokens being greatly rewarded when using Kalmy.app.
Understanding how a product works before deciding to use it is critical, especially in DeFi with so many moving parts, sowe strongly advise reading this section.
The most significant difference between our locking mechanism and Curve's is that we also offer the option to stake your KALM for more KALM, which is distinct from locking but rather interacts with it.
Why is it made this way? Why can't I get yields just on my locks?
Kalmy.app is a DeFi hub that houses multiple different products, with more to come in the future. This means that a part of Kalmy.app users might or might not be interested incertain products.
For example, some of you may enjoy the leveraged yield farming product, while others use Kalmy.app to aggregate their swaps. But some just want to invest in KALM for long term, so we decided to change Curve contract and add native staking.
If the KALM for KALM pool is your primary source of KALM rewards and you intend to keep it that way for a long term, you are interested in keeping track of how much KALM you're locking.
When locking you increase your ongoing rewards, but you do not earn KALM from the locking contract itself, so locking 100% of your KALM but not farming on the platform will not earn you any rewards.
This way we were able to proceed with a) no lock staking b) add value to long term stakers c) align interests of using Kalmy.app and holding KALM at the same time.