Kona Pearl
Overview
Kona Pearl (PEARL) is the governance token that controls point emission allocation across Kona Lend and Kona Swap. PEARL is minted by burning points and KONA, creating a deflationary pressure on KONA supply with every mint.
Core Mechanics
Minting PEARL
Points: Consumed from your earned balance
KONA: Burned permanently (sent to dead address)
PEARL: Minted to your wallet
The KONA burn is fixed at 1 KONA per mint transaction, regardless of how much PEARL you mint. Minting 100 PEARL or 10,000 PEARL costs the same 1 KONA.
Minimum Mint
100 points minimum per transaction
No maximum limit
What PEARL Controls
PEARL holders vote on gauge weights that determine point emission distribution across:
Kona Lend Markets
Each lending market (PENGU, ETH, USDC, USDT, etc.) has a gauge
Higher gauge weight = higher point emissions for depositors
Kona Swap Pools
Each liquidity pool has a gauge
Higher gauge weight = higher point emissions for LPs
Lending markets and swap pools compete for the same emission budget. PEARL holders decide the allocation.
Gauge Voting (Coming Soon)
Epochs
Voting occurs in weekly epochs:
Days 1-6: Voting window open
Day 7: Votes tallied, new weights applied
Day 1 (next epoch): New emission rates active
Vote Weight
1 PEARL = 1 vote
Votes can be split across multiple gauges. Your vote persists until you change it.
Bribes
Projects and protocols can deposit bribes to incentivize votes toward specific gauges.
Bribes are distributed pro-rata to voters for that gauge
Claim bribes after epoch ends
Bribes are external revenue (separate from protocol fees)
PEARL vs Kitties
PEARL and Kona Kitties serve different purposes in the ecosystem:
Purpose
Governance
Fee capture
Earns
Bribes
Protocol fees
KONA requirement
Burned on mint
Locked on mint
Transferable
Yes (ERC-20)
Yes (NFT)
Boostable
No
Yes (via gear)
Both require points. Both support KONA value. Choose based on your strategy.
Difficulty Adjustment
The cost to mint PEARL increases over time.
Every PEARL mint burns 1 KONA from a fixed supply. As KONA becomes scarcer, its market price rises. As KONA price rises, the cost to mint PEARL rises.
This creates a self-regulating system. Early participants access governance at costs that become unreachable as supply burns down.
Token Details
Name: Kona Pearl
Symbol: PEARL
Type: ERC-20
Chain: Abstract
Max Supply: Uncapped (gated by KONA availability)
Contracts
PEARL Token
0x792CF0A64a46DbB48CA414DFf20DcD341812579e
Pearl Minter
0x92C18C91Ad1356DDEA429Bf5C49949489Cea4608
Gauge Voter
[TBD]
Bribe Vault
[TBD]
How to Mint
Earn points by depositing on Kona Lend or LPing on Kona Swap
Acquire at least 1 KONA
Navigate to the PEARL minting interface
Enter amount of points to convert (minimum 100)
Approve KONA spend
Confirm transaction
PEARL is minted to your wallet, KONA is burned
How to Vote
Hold PEARL in your wallet
Navigate to the Gauge Voting interface
Allocate vote weight across gauges
Confirm transaction
Votes apply to current epoch
FAQ
Can I get my KONA back after minting PEARL? No. KONA is burned permanently. This is not a lock or stake.
Why would I mint PEARL instead of buying gear? Gear boosts your Kitty's fee capture. PEARL gives you governance power and bribe income. Different strategies for different goals.
What happens when all KONA is burned? New PEARL creation stops. Existing PEARL holders retain permanent governance control over emissions.
Can I sell PEARL? Yes. PEARL is a standard ERC-20 token tradeable on Kona Swap.
Do I need a Kitty to use PEARL? No. PEARL functions independently. You can hold and vote with PEARL without owning a Kitty.
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