The Queen's Jewels
The Queens Jewels rewards will consist of a portion (30%) of the income generated on a $111,000 USD fund (the “DeFi Fund”) that will be allocated within Dotsama and other thriving DeFi ecosystems. The DeFi Fund’s primary goal will be to generate current yield, primarily through short and medium-term oriented strategies, including liquidity pools, bootstrapping, staking and similar strategies with low principal risk. The distribution (or reinvestment) of the Queens’ portion of any gains will be subject to a periodic governance vote.
The DeFi Fund is independent of the Queens, but will be administered by @KBL (together with @rshorten) in close coordination with two Kusama Kingdom NFT holders that will be elected to the post of ‘Royal Farmer’. It is expected that the principal of the DeFi Fund will increase over time with the reinvestment of gains, although - as with the King’s Bounty - the ultimate control over any increases or decreases to the principal of the DeFi Fund will reside with the investors that have supported our effort.
Because defi strategies require constant, real-time engagement, the Royal Farmers will be elected for an annual term and, importantly, will each be compensated by Lucky Friday $1,000 per quarter for their time and effort, regardless of actual results. This payment will not in any way affect the returns paid to Queens and is being made by Lucky Friday in the spirit of supporting the Kusama Kingdom over the long term. In addition to this guaranteed payment, the Royal Farmers will be eligible for additional performance-based rewards. This fee structure will also ensure that the best ideas are timely surfaced and acted upon in realtime. If a Royal Farmer sells his or her final Queen or King during their term, we will promptly reelect another candidate by governance.
The Queens portion of the gains from the DeFi Fund will either be distributed to Queens or reinvested based on a quarterly governance vote and snapshot, and individual Queens will realize the following weighting based upon their rarity: Legendary (1.5x), Ultra Rare (1.3x), Rare (1.2x), Limited (1x). Holders of Frogs will realize an additional payment equal to 2x a Limited.