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
Powered by GitBook
On this page

Was this helpful?

  1. QIAN V2 Whitepaper

KUN token

KUN plays the role of governance voting in the QIAN V1 protocol. KUN continues to have governance authority and also assumes the role of regulating the algorithm in the QIAN V2 protocol.

Through the voting function of KUN, QIAN community can decide the increase or decrease of collateral types, adjust the seigniorage/redemption fee, and adjust the refresh interval and refresh rate of the collateral ratio. The operation logic of the algorithm stablecoin is different from the DAO organization mode of QIAN V1, and the system will operate as automatically as possible to provide highly consistent expectations for all participants.

The price of KUN will fluctuate according to demand and market factors, and the total amount will remain unchanged at 12 million KUN. After some KUN has been issued through QIAN V1 liquidity mining, the remaining KUN will participate in the algorithm cycle through the QIAN V2 algorithm adjustment. If the QSD algorithm adjustment ratio increases, the market demand for KUN will increase, and the circulation of KUN will decrease. Through this design, it can be ensured that the increase in the intrinsic value of KUN is positively correlated with the increase in QSD demand.

The market value of KUN tokens in QIAN V2 can be approximately calculated as the value of tokens burned in order to mint QSD and maintain circulation, the cash flow generated by the seignorage and redemption fees, and the added value of the collateral generate net value. As the market value of KUN increases, so does the system's ability to keep QSD stable. Therefore, the priority in the QIAN V2 design is to accumulate the maximum value for KUN tokens while maintaining the QSD token price's stability.

PreviousQSD RedeemingNextBuybacks & Recollateralization

Last updated 2 years ago

Was this helpful?