Opal Rewards is Kerne's pre-TGE points program. Mint kUSD 1:1 with USDC and hold it: every wallet holding kUSD accrues Opal Fragments every hour, automatically. Fragments convert to a pro-rata share of the fixed 50,000,000 KERNE community pool (5% of total supply) at the token launch.
The program rewards early, continuous holding: fragments accrue per hour held, and the Genesis deposit multiplier steps down each week of Season 1, so the earliest holders compound the largest share. Staked kUSD (skUSD) is additionally designed to earn the delta-neutral yield, a variable APY in the high single digits to low teens (live formula output, computed live), while continuing to accrue fragments on the same value.
What are Fragments
Opal Fragments are Kerne's pre-TGE reward units. They are non-transferable, non-tradeable points that accrue to your wallet every hour based on the kUSD you hold, read directly from on-chain balances on Base.
Earned automatically, no claiming or staking required
Permanent once earned, withdrawals don't remove existing Opal Fragments
Convert to $KERNE tokens at TGE based on your proportional share
How It Works
The Opal Rewards flow is a simple 3-step process: mint, hold, and lock at the snapshot.
01
Mint kUSD
Mint kUSD 1:1 with USDC through the PSM. kUSD redeems 1:1 for USDC through the same PSM at any time, so entering the program does not lock your capital.
02
Hold to earn, every hour
Every wallet holding kUSD accrues 100 Opal Fragments per kUSD per hour, multiplied by your Genesis deposit tier. Staking kUSD into skUSD or providing kUSD/USDC liquidity keeps the same value accruing fragments, and staked kUSD is also designed to earn the delta-neutral yield (a modeled, variable APY in the high single digits to low teens, computed live).
03
Lock at the Genesis snapshot
Your Genesis Season 1 fragment standing locks at the snapshot on July 10, 2026 and is permanent. It converts to $KERNE at the token launch, with your allocation proportional to your share of the total fragment pool.
Fragment Rates
The base rate is 100 Opal Fragments per kUSD per hour. Accrual runs hourly against each wallet's actual on-chain kUSD balance on Base: holding 1 kUSD for 24 hours earns 2,400 fragments before multipliers. There is no claiming step and no minimum; balances under 1 kUSD accrue fractionally.
Fragments per hour = kUSD held × 100 × Genesis Multiplier
kUSD held scales linearly, read from your on-chain balance at every accrual tick
Genesis Multiplier is set by when your current continuous hold started, stepping down weekly from 2.0x (see the schedule below)
Rates and multipliers are Season 1 program parameters, configured in the accrual engine and published here and at kerne.fi/opal. Future seasons can run different parameters; fragments already credited are permanent
Earlier deposits earn more, mechanically
The Genesis multiplier steps down each week, and fragments accrue per hour held. Waiting forfeits both the higher cohort tier and the accrual hours, so a last-minute deposit cannot catch an early holder. That is the anti-snipe design.
Genesis Multiplier
Your multiplier is set by when your current continuous kUSD hold started, not by how much you deposit. The earlier your cohort, the higher the multiplier on every hour of accrual through the Season 1 snapshot.
CohortFirst held duringMultiplier
Genesis FounderThrough Jun 15 UTC2.0x
Week 2Jun 16 to Jun 221.75x
Week 3Jun 23 to Jun 291.5x
Week 4Jun 30 to Jul 61.25x
Final weekJul 7 to snapshot1.0x
How the cohort is kept
Topping up keeps your cohort: the multiplier follows your current continuous hold, not individual deposits
Fully exiting to zero forfeits the cohort: a later refill is re-tiered at the then-current week. Fragments already earned are never affected
This table is rendered from the same constants the accrual engine applies, so the published schedule cannot drift from what the ledger credits
Staking & Liquidity
Fragments follow your kUSD wherever it works. Staking kUSD into skUSD or providing kUSD/USDC liquidity on Aerodrome moves your kUSD into a contract, and a separate accrual pass values those positions in kUSD-equivalent terms and credits fragments at the same 100 per kUSD per hour base rate. Providing kUSD/USDC liquidity on Aerodrome additionally earns a +25% LP boost on that leg, so a liquidity provider out-earns a passive holder of the same size. Direct holdings and positions are disjoint, so nothing is double counted.
skUSD is valued at the vault's economic backing ratio, and staked kUSD is additionally designed to earn the delta-neutral yield
Aerodrome kUSD/USDC LP is valued as your pro-rata share of the pool's kUSD reserve, with manipulation-resistant on-chain valuation, and earns a +25% boost on top of the base rate
skUSD and LP share one continuous-hold clock, so moving between them does not reset it. Direct kUSD holdings keep their own clock: each leg's Genesis cohort is set by when that leg's continuous hold started
The Season 1 Snapshot
Genesis Season 1 ends at a published, date-certain snapshot: July 10, 2026 at 19:59 UTC. At that instant every wallet's Season 1 fragment standing locks permanently.
Standings are permanent whether or not you remain deposited after the snapshot
Accrual continues after the snapshot in subsequent seasons
A published date is safe by design: hourly accrual plus the weekly-decaying cohort multiplier make a last-minute deposit strictly worse than an early one, so no surprise snapshot is needed
Security & Anti-Gaming
Fragment accrual is based on your actual on-chain kUSD balance, it cannot be faked or manipulated
The continuous-hold clock resets on a full exit, so drain-and-refill cannot replay an empty window or keep an early cohort
Idempotent processing ensures each accrual period is credited exactly once
Founder, team, and protocol wallets are labeled on the public leaderboard, never disguised
Referral Program
Earn bonus Opal Fragments by referring others to Kerne, and give them a reason to join. When someone you refer holds kUSD, you earn a bonus equal to 10% of their base fragment accrual (before multipliers), automatically, every accrual period, and your referee earns a +20% join boost on their own base accrual for their first 30 days. Both sides win, and neither bonus reduces what the other earns.
How Referrals Work
Your referral link is on the Rewards page, share it with anyone
When they visit your link and register the referral (a gasless signature or an on-chain registration), the relationship is permanent
You earn 10% of their base accrual (before multipliers), credited automatically
Your referee earns a +20% join boost on their own base accrual for their first 30 days
Maximum of 10 referrals per address to prevent Sybil farming
Single-level only, no multi-level referral chains
Parameter
Value
Referral Bonus Rate
10% of referee base accrual
Referee Join Bonus
+20% of own base, first 30 days
Max Referrals
10 per address
Chain Depth
1 level (no MLM)
Registration
Gasless signature or on-chain (permanent)
Referrer Change
Not possible (first-referrer-wins)
Conquest Boost
Already farming delta-neutral yield elsewhere? Bring it to Base. While your wallet also holds USDe or sUSDe on Base, every kUSD you hold earns a +50% conquest boost on its base fragment accrual, stacked on top of your Genesis multiplier. Bridge your Ethena position over, mint kUSD, and earn on both.
Hold at least ~10 USDe or sUSDe on Base to qualify; eligibility is read from your on-chain balance and refreshed every few hours
The boost adds 50% of your base accrual (before multipliers), credited automatically every tick
It applies for as long as you keep the qualifying balance, and stops when you no longer hold it
Quests
Quests are one-time fragment grants for completing concrete actions. Each is awarded once per wallet, automatically, the first time you qualify.
QuestHow to completeReward
RecruiterRefer 3 wallets that hold kUSD1,000,000
Diamond HandsHold a staked or LP position for a full epoch week1,000,000
Quest rewards are one-time fragment grants in addition to your hourly accrual. More quests can be added in future seasons.
TGE Conversion Formula
At Token Generation Event, your Opal Fragments convert to $KERNE tokens based on your proportional share of the total Opal Fragments pool. The formula is simple and transparent:
Your $KERNE = (Your Fragments ÷ Total Fragments) × 50,000,000
The conversion is purely proportional, the more Opal Fragments you hold relative to the total pool, the larger your $KERNE allocation. Because fragments accrue per hour held, early and continuous holders earn a disproportionate share.
Your Allocation
A total of 50,000,000 $KERNE tokens (5% of the 1,000,000,000 total supply) are allocated to the Opal Rewards pool. This allocation is fixed and will not be diluted.
Genesis Season 1 standings lock at the snapshot on July 10, 2026. Fragments earned by then are permanent and set your share of this pool at the token launch, whether or not you remain deposited afterward. See the KERNE token disclosure for how the token is backed.
Rewards Pool
50,000,000
$KERNE tokens
% of Total Supply
5.0%
of 1B total supply
Common Questions
Frequently asked questions about Opal Rewards, Fragment mechanics, and TGE conversion.
Genesis Season 1 runs through July 10, 2026 at 19:59 UTC. The snapshot at that time records each wallet's Season 1 Opal Fragment standing permanently. Because fragments accrue every hour you hold, the earliest depositors build a fragment lead that compounds, so depositing sooner secures a larger share of the fixed 50,000,000 KERNE allocation.
Your Genesis Season 1 fragment standing locks permanently at the July 10, 2026 snapshot, so your share is settled even before the token goes live. Fragments convert to $KERNE at the token launch; the v2 KERNE token and its claim adapter are already written and publicly reviewable at kerne.fi/security/kerne-token-disclosure. Accrual continues after the snapshot in subsequent seasons.
Yes. Opal Fragments earned are yours permanently. Note that exiting kUSD fully to zero resets your continuous-hold clock and forfeits your Genesis multiplier cohort: a later refill is re-tiered at the then-current week of the schedule.
Top-ups accrue at the same 100 fragments per kUSD per hour from the next hourly tick, and you keep your existing Genesis multiplier cohort as long as your balance never goes to zero.
No minimum. Any wallet holding kUSD accrues fragments every hour; balances under 1 kUSD accrue fractionally.
Share your referral link from the Rewards page. When someone registers via your link (a gasless signature or an on-chain registration), you earn a bonus equal to 10% of their base fragment accrual, credited automatically every accrual tick, and your referee earns a +20% join boost on their own base accrual for their first 30 days. Both sides win, and neither bonus reduces the other. You can refer up to 10 wallets, single level only.
No. Referral relationships are first-referrer-wins and permanent. Once registered, the referrer cannot be changed.
Contract addresses are excluded from automatic accrual by default so pools and vaults are not double counted against their depositors. If you hold kUSD from a multisig or smart-contract wallet, contact kerne.systems@protonmail.com and accrual will be enabled for your address.
They are Season 1 program parameters, configured in the accrual engine and published here and at kerne.fi/opal. Future seasons can run different parameters. Fragments already credited are permanent, and the 50,000,000 KERNE community pool and its pro-rata conversion are fixed.
