QIAN.finance Documents
  • QIAN.finance knowledge base
  • QIAN.finance 知识库
  • QIAN V2 Whitepaper
    • QIAN V2: Innovative decentralized fractional-algorithmic synthetic assets protocol
    • Price Stability of QSD
    • QSD Minting
    • QSD Redeeming
    • KUN token
    • Buybacks & Recollateralization
    • Bond stabilization
    • Liquidity mining Programs & Governance mining
    • Conclusion
  • QIAN V2 白皮书
    • QIAN V2:创新的去中心化分数算法合成资产协议
    • QSD 的套利稳定机制
    • QSD 铸币
    • QSD 赎回
    • KUN 代币
    • 回购和再抵押
    • 债务稳定
    • 流动性挖矿计划与治理挖矿
    • 总结
  • QIAN V1 whitepaper
    • QIAN V1: crypto-assets backed stablecoin protocol
    • Introduction to QIAN stablecoin protocol
    • Locked asset management
    • Stability management
    • External systems
    • System governance
    • Reference
  • QIAN V1 白皮书
    • QIAN V1:加密资产储备型稳定币协议
    • QIAN V1 介绍
    • 锁定物管理
    • 稳定性管理
    • 外部系统
    • 系统治理
    • 参考文献
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  • 1. System participants
  • 2. KUN governance token
  • 3. Governance voting

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  1. QIAN V1 whitepaper

System governance

1. System participants

Key participants in the QIAN system consist of QIAN stablecoins minters, QIAN stablecoins holders and governance token KUN holders. The purpose of system governance is to balance the benefits of all participants and, based on certain trade-offs, to maintain system stability and continuous healthy development.

Primary risk of QIAN stablecoins’ minter in the system is the risk of redemptions resulting from a fall in the price of reserve assets and the contrast is frozen. The benefits which the minter enjoys include access to liquidity, value storage, risk hedging, and other features. Based on a study of similar projects in the industry, we believe that, within a reasonable range of risk, QIAN stablecoins' minting should be encouraged, which is conducive to the development of the QIAN system, so we have designed an adjustable interest rate mechanism.

The core demand of QIAN stablecoins holders is the stability of QIAN stablecoins’ face values, so we design a value stability adjustment mechanism.

2. KUN governance token

The KUN holders will be the final revenue or risk bearer for the entire QIAN system, the management of the system is determined by vote among the KUN holders.

The total number of KUN is 12 million, all KUN tokens will be distributed to QIAN system participants through yield farming, liquidity mining, governance lock-in and other specific forms. KUN tokens are 100% belong to the community, there are no team reserve, no private funding, no pre-mining.

The exact distribution scheme of KUN will be developed by the QIAN stablecoin governance committee and published on the QIAN official website and governance forum. If it is necessary to adjust the KUN distribution scheme during the development of the project, this can be done by voting.

3. Governance voting

Proposals approved by voting can modify the internal management variables of the QIAN platform, which include, but are not limited to:

  • Addition of new reserve assets

  • Choosing trusted oracles

  • Adjusting interest

  • Adjusting flash loan rate

  • Risk parameters: debt ceiling for each reserve asset, initial guarantee ratio, redeemable limit, alarm line, etc.

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Last updated 4 years ago

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