Limits and rewards
Leverage, notional limits and sub-caps in the Verified Lane compared with the open lane, and how the sybil-proof trading-rewards stream works.
The Verified Lane raises per-account limits and opens a rewards stream that only Verified Addresses can earn. Everything else about a Kimp Contract, from index and fees to expiry and settlement, is identical to the open lane.
Limits at launch#
| Parameter | Open lane | Verified Lane |
|---|---|---|
| Leverage range | 1x to 3x | 1x to 5x |
| Maximum notional per account per asset | 25,000 USD | 250,000 USD |
| Minimum initial margin at maximum leverage | 33.33% of notional | 20% of notional |
| Maintenance margin | 25% of initial margin | 25% of initial margin |
| Base fees | 0.05% open and close, 0.02% settlement | Same |
| Skew charge | 0 to 0.10% | Same |
All values are governance-adjustable through the 48-hour timelock. See Margin and leverage.
Example at maximum size#
A Verified Lane trader opens a 250,000 USD Long premium position on BTC at 5x.
- Initial margin: 250,000 / 5 = 50,000 USD.
- Maintenance margin: 25% × 50,000 = 12,500 USD.
- Open fee: 0.05% × 250,000 = 125 USD, plus any skew charge.
- A move of +100 bps in the premium: P&L = 250,000 × 100 / 10,000 = +2,500 USD.
The same trader in the open lane could open at most 25,000 USD at 3x, with 8,333.33 USD of initial margin.
Sub-caps#
Verified Lane positions share the per-asset OI and skew caps of the Kimp Pool. Inside those caps, the Verified Lane has its own sub-caps, so that its higher per-account limits cannot take up an asset's entire capacity and crowd out the open lane. Sub-cap values are set by governance before mainnet and shown in the app for each asset. See Skew limits and OI caps.
Trading rewards#
Part of the 20% incentives allocation of $KIMP is emitted as a trading-rewards stream. Only Verified Addresses are eligible. See Distribution.
Why restrict rewards#
Open trading rewards invite wash trading and farming across many addresses. Restricting the stream to Verified Addresses ties each rewarded address to a person verified by Upbit Korea. Splitting activity across addresses does not multiply rewards, which makes the stream sybil-proof in practice.
How rewards accrue#
- 1Rewards accrue per weekly series, in proportion to each eligible address's share of fees paid in the Verified Lane during the series.
- 2Fees paid, not notional, are the basis. Every unit of reward requires real fees paid to LPs, stakers and buyback.
- 3Accrual stops the moment an address is no longer verified. Rewards accrued before revocation remain claimable.
- 4The weekly emission rate is set by governance within the incentives allocation.
| Rewards parameter | Value |
|---|---|
| Eligibility | Valid Verified Address attestation at the time of the trade |
| Funding | Incentives allocation, 20% of supply, 4-year emission |
| Basis | Share of fees paid in the Verified Lane per series |
| Emission rate | Set by governance |
| Leaderboard opt-in required | No |
$KIMP has not launched. No rewards accrue before mainnet. See $KIMP utility.
Revocation#
If an attestation is revoked, existing Verified Lane positions can be closed or held to expiry, but not increased. Limits for that address fall back to the open lane for any new position. See Dojang integration.