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Kona Pearl

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Overview

Kona Pearl (PEARL) is the governance token that controls point emission allocation across Kona Lend and Kona Swap, and is your ticket to earning ETH rewards from fees generated on the Kona platform. PEARL is minted by burning points and KONA, creating a deflationary pressure on KONA supply with every mint.

To put your PEARL to work, you must add liquidity to the PEARL-WETH pair on Kona V2 and lock the LP tokens to create vePEARL (coming soon!).

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Core Mechanics

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Minting PEARL

100 points + 1 KONA → 1 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.

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Minimum Mint

  • 100 points minimum per transaction

  • No maximum limit

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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 emissions

  • Highe emissions = higher point emissions for depositors

Kona Swap Pools

  • Each liquidity pool has a gauge

  • Higher gauge weight = higher point emissions for LPs

Core markets will be controlled by the Kona protocol to assure distirbution health. Details will be available when voting goes live.

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Gauge Voting (Coming Soon)

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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

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Vote Weight

Voting weight is determined by your vePEARL holdings. Longer lock period and more PEARL locked gives you greater voting power.

Votes can be split across multiple gauges. Your vote persists until you change it.

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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)

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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.

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Token Details

  • Name: Kona Pearl

  • Symbol: PEARL

  • Type: ERC-20

  • Chain: Abstract

  • Max Supply: Uncapped (gated by KONA availability)

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Contracts

Contract
Address

PEARL Token

0x792CF0A64a46DbB48CA414DFf20DcD341812579e

Pearl Minter

0x92C18C91Ad1356DDEA429Bf5C49949489Cea4608

Gauge Voter

[TBD]

Bribe Vault

[TBD]

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How to Mint

  1. Earn points by depositing on Kona Lend or LPing on Kona Swap

  2. Acquire at least 1 KONA

  3. Navigate to the PEARL minting interface

  4. Enter amount of points to convert (minimum 100)

  5. Approve KONA spend

  6. Confirm transaction

  7. PEARL is minted to your wallet, KONA is burned

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How to Vote

  1. Hold PEARL in your wallet

  2. Navigate to the Gauge Voting interface

  3. Allocate vote weight across gauges

  4. Confirm transaction

  5. Votes apply to current epoch

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FAQ

Can I get my KONA back after minting PEARL? No. KONA is burned permanently. This is not a lock or stake.

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 tradable 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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