plsKDK
A quick reference on plsASSETs.
$plsKDK is a plsASSET variant of $KDK, Kodiak Finance's utility token on Berachain. $plsKDK combines yield and liquidity.
Converting to plsKDK
You can convert your $KDK into $plsKDK on the Plutus dApp. You can also convert your $plsKDK back into $KDK just as easily.
plsKDK rewards
When you stake your $plsKDK in the Plutus dApp, the underlying $KDK is permanently staked into $xKDK and you get to enjoy the overcollaterized rewards. The rewards are determined by Kodiak Finance and are paid to the $plsKDK holders. You can also unstake your $plsKDK without the waiting period of $xKDK. Plutus does, however, take a fee on the yield and retain the governance rights of the $xKDK token.
Fees
Plutus takes a 12% performance fee on the underlying $xKDK yield. Generally this fee is outweighed by the overcollaterization, resulting in higher net yield for your $plsKDK, but the protocol can't guarantee that to be always the case. The fee is used to overcollaterize the pair and provide liquidity. Additionally, the fee is taken into account in performance metrics, so what you see is what you get.
Overcollaterization
Like all other plsASSETs, $plsKDK is an overcollaterized asset, meaning there are more yield-bearing than yield-earning tokens. The level of overcollaterization defines the amount of extra yield paid to $plsKDK holders from the underlying staked tokens.
Additional reading
KDK in Kodiak Finance's documentation.
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