1. Project Overview
Project Name : Lair Finance
Company Name : Lair Labs, Inc.
Company Location : BVI
Category : DeFi
Official Website : Lair Finance
Whitepaper / Docs : Lair Finance Docs
TGE Timing : (est.) 2025-04-11
Token Information
- Token Ticker : $LAIR
- Token Type : ERC-20
- Explorer Link : Not yet available - token will be deployed in April 2025
- Total Supply : 1,000,000,000
- Current Circulation Supply : N/A
- Smart Contract : Pending deployment - will be shared upon TGE in April 2025
- Audit Report : Lair Finance Audit (Audited by Hashlock, Trust security, and Omniscia)
- Market Cap : FDV $25M
2. Team
Executive Members
- Evan Hong (Founder)
- Listing Manager, Coinone
- Country Branch Director, NEO
- Built 15+ web2 and web3 products
- Troll Kim (Tech Lead)
- Backend Engineer, Nexon
- Engineer, GDAC Exchange (Custodial Exchange)
- Gorany Kim (Product Manager)
- Marketing, Cosmostation
- Pika Kim (Design Lead)
- Product Designer, Coinone
- Product Designer, Terraform Labs
- Goodboy Kang (Product Designer)
- Content Design, Coinone
- Growth Manager, DFG
- Yong Kim (Frontend Developer)
- Frontend Engineer, OP.GG
- Engineer, DAK.GG
- MY Kim (Operation Manager)
- Founder, ModuAI
- OOO, Teraark
- Kap Hong (Strategy Manager)
- Evangelist, Cyberkongz and Pudgy Penguin
- Member, DAO Multisig
History and Milestones
Bughole, the top validator on the Finschia Blockchain with $60M delegated (30% of the total), has successfully converted its stake to become the leading LSD protocol on KAIA.
3. Business
Business Status
Project Description
Lair is the next generation liquid staking solution built for Kaia KIP-163: CnStakingV3. It provides a simple and diverse way to get rewards on KAIA tokens. By staking with Lair, KAIA tokens remain liquid and can be used across a range of DeFi applications, earning extra rewards.
Problems to Solve
- Cross-chain (Re)staking starting from Kaia, positioning as Lido, EigenLayer, and EtherFi of Kaia.
- Lair Ecosystem brings Asia-based Web3 natives and consumers from 1000+ LINE GameDapps together.
- Lair Extends Growth to multiple L1s by sharing restaking rewards among integrated chains: Kaia, Story Protocol, Injective, and Initia.
Project Features
- NodeController: Protocol to manage deposits, staking rewards, and withdrawals.
- StakingToken: Unlike staked tokens, the Lair stKAIA tokens are freely transferable instead of locked as in the case of native staking. Lair lets users operate with staked tokens by leveraging collateral, lending, farming, and other kinds of DeFi protocols. It’s a yield-bearing token whose value against KAIA systematically increases over time.
- DAO: Lair Finance management entity, responsible for picking GCs, configuring the protocol parameters and much more. It will be managed by Lair DAO token holder governance.
- GC Partners: GCs that manage a secure and stable infrastructure for running validator clients for the benefit of the Lair Finance and its users. They’re dedicated staking providers who can ensure the safety of funds belonging to the protocol users and correctness of validator operations.
- Public Delegation: Before cnStakingv3, only a few validators offered public delegation services, limiting users’ options. By enabling public delegation natively in CnStakingV3, users can delegate their KAIA to any validator offering this service, thus broadening the delegation options and improving network participation. Lair Finance is the first service to adopt KIP-163: CnStakingV3 on Kaia, allowing users to delegate their KAIA tokens to a decentralized set of GC members.
Key Achievements
- $45M TVL in 7 days since launch.
- 5 Kaia LSTs integrated with Lair Restaking.
- Strategic Partnership: Avalon, Catizen, LineNEXT.
- 70% LSD Market Share as of Q3 2024, preparing for Liquidity Restaking.
Competitor Comparison
- No direct competitor in the KAIA ecosystem.
- Initial LSD protocols for ETH and SOL hold over 50% of each mainnet.
Tokenomics
Token Utilities:
The LAIR token is the core token of Lair Finance, which offers Liquid Staking and LiquidityRestaking. It provides LRT Liquidity and investment funds for protocols growing on Kaia, structured similarly to BeraChain’s Proof of Liquidity.
The LAIR token will have four potential roles within Lair Finance:
- Creating LRT through restaking LST and Lair tokens to access higher rewards in LRT Vault Pools.
- Voting on governance matters, including protocol parameter changes, contract upgrades, and other governing matters.
- Voting on validator selection for LSD-delegated tokens.
- Participation in AVS selection and investment.
- Protocol revenue utilization for AVS Pools and DAO treasury accumulation.
- LRT = LST + $Lair: To create LRT through restaking, users must stake both LST and $Lair together. This mechanism encourages users to continually use $Lair if they want to contribute more to the ecosystem and earn higher APR.Users can stake their LRT in LRT Vault Pools, allowing them to receive tokens from supported pools according to the Liquidity Restaking mechanism like BeraChainProof of Liquidity. By using Lair to create LRT, users can access higher rewards, thus incentivizing the use and demand for $Lair tokens.
Revenue Model of the Protocol
- Validator commission fee amplifies LSD and Restaking yields
50% of LSD becomes the revenue - Lair Finance invests the revenue in compatible protocols which creates liquidity staking incentives pool
- This investment returns in Lair DAO Vault enhancing liquidity restaking
Value to Kaia Ecosystem
- Lair Finance builds from LSD to LRT: Liquidity Restaking. Through restaking, it integrates Kaia LSTs and generates community liquidity for Kaia protocols. Liquidity Restaking creates value for Kaia and Lair holders, fostering Kaia ecosystem growth.
- Conversion of Line’s 300M users into Lair: Pre-TGE liquidity launch for Line Game tokens
- #1 Defi on Kaia: 70% of LSTs market share, 60% of $Kaia TVL
Integrated with Kaia’s DeFi suite: DEX/perpDEX, lending, meme launchpad, etc.
Strategies
- Synergy with DeFi Teams within KAIA ecosystem (3AMM DEXs, Perp Dex, Meme Launchpad, Lending Protocols).
- Liquidity Restaking integrations with 300+ web3 Game Tokens.
Business Plan
Marketing Strategy
Leveraging exclusive LINE partnership to access 10M+ user base
- Cross-chain expansion to Story/Bera, Injective, and Somnia
- Integration with 8 top LINE game AVS partners (3.6M+ users)
- Natural user acquisition through 20% higher APY for restaking token holders
- Pre-TGE receipt token system for organic community growth
Community Strategy
Bughole, the top validator on the Finschia Blockchain with $60M delegated, has successfully converted its stake to become the leading LSD protocol on KAIA.
Partnership Strategy
- Synergy with DeFi Teams within KAIA ecosystem(ie. 3AMM DEXs, Perp Dex, Meme Launchpad, Lending Protocols)
- Liquidity Restaking Integrations with 300+ web3 Game Tokens
- Strategic Partnership:
- Expected user acquisition for Lair Finance: 3 million users (80% of Line’s KYC users) through 7 Restaking partnerships
- Avalon, Catizen, LineNEXT +6 more major Line dapps.
Backer
- Kaia Foundation, Gatelabs, MEXC Ventures, Kakao Ventures, KB Investment, Angels from ex-Hashed founding members and web3 founders.
Risk Points
- Cross-chain infrastructure complexity and security challenges.
- Market timing for cross-chain expansion.
4. Industry
Market Overview
- Overview of KAIA: Merged from Klaytn and Finschia ended up Asia’s largest mainnet.
- Fastest EVM L1 blockchain : 1 sec block finality
- Tokenomics for scalability : low gas fee & delegation features
- Asia’s largest web3 ecosystem with 400+ partners including LINE and Kakao
- LINE’s new web3 platform
- Asia’s largest messenger : 193M+ Global MAU, #1 messenger in Japan, Thailand and Taiwan
- Web3 Platform by LINE NEXT includes market, portal, swap and wallet connecting them to wallet SDK, LINE API, Market API
Potentials
- More than 500 LINE DApps liquidity is integrated with Liquidity Restaking.
Attract Users on LINE- No hurdles to play
- Rewards in Mini DApps
- Collect rewards on Mini DApp wallet
- Engage with Friends
- Asia’s largest potential in KAIA
- 250M+ wallet user base
- 420+ DApps & services
- 45+ web3 governance
- 450+web3 resources
- KAIA potentials
- LSD TAM is $534M and SOM is $320M
- With FDV of $900M, KAIA listed on Binance and Bithumb. The governance members include Binance, Softbank, SEGA, LineXenesis, Kakao, etc.
5. Investment Overview
- Term : SAFT(Simple Agreement for Future Token)
- Proposed Investment Amount : US $300,000