KUN Price Today
Chemix Ecology Governance price today is $0.030343964560 with a 24-hour trading volume of ?. It has a circulating supply of 0 KUN coins and a total supply of 1.2 Million. If you are looking to buy or sell Chemix Ecology Governance, Hotbit is currently the most active exchange.
What is KUN?
KUN is the governance token for Qian Protocol. It also serves as the risk backstop of the protocol where it can be sold for QUSD if the peg is not maintained.
The total supply of KUN is 12 million. KUN is distributed to users through yield farming, liquidity mining, governance lock-in, and other forms. There are no team reserves, no private funding, and no pre-mining.
How to obtain KUN?
What is Qian Protocol?
Qian Protocol is a part of The Force Protocol’s ecosystem, alongside ForTube. QIAN is a decentralized stablecoin protocol that supports various stablecoins on Ethereum and Binance Smart Chain (BSC). It adopts the overcollateralized minting mechanism similar to MakerDao’s DAI.
Crypto assets can be locked to mint stablecoins on the Qian Protocol. QUSD is the first stablecoin issued on the Qian Protocol, where its value is pegged to the USD. In the future, Qian Protocol expects to launch QHKD, QEUR, etc.
There is a roadmap to release a version 2 stablecoin named QSD, following Frax’s fractional-algorithmic stablecoin mechanism.
How to mint QUSD?
Users can deposit assets to Qian Protocol to mint QUSD. Similar to borrowing from a lending protocol, the available amount to mint depends on the adequacy ratios.
There are three different adequacy ratios:
The initial adequacy ratio refers to the maximum QUSD amount available for mint against the collateral posted. For example, depositing $180 worth of FOR token allows users to mint at most 100 QUSD.
If users hit the warning adequacy ratio, the system will prompt users to add more collateral to prevent liquidations.
If users hit the freezing adequacy ratio, users’ assets will be locked and liquidated until the adequacy ratio is restored to the initial adequacy ratio.
Users can always repay the QUSD to get back the collateral.
How is the QUSD peg maintained?
Unlike DAI that uses stability fees and saving rates to maintain its peg to USD, QUSD does not intend to enact any minting, redemption, and stability fees. The design philosophy is materially different from the Collateralized Debt Position (CDP) mechanism of MakerDAO. QIAN stablecoins are considered a proof of currency swap between the smart contract and users, named Currency Swap Agreement (CSA).
This mechanism makes heavy reference to the pegged exchange rate system of the Hong Kong dollar. It relies heavily on arbitrageurs to maintain QUSD’s peg to USD. Other than that, when the QUSD price is higher than $1, KUN can also be rewarded to the QUSD minters to encourage more minting, akin to a negative interest rate monetary policy.
Where can Chemix Ecology Governance be traded?
What is the highest price for Chemix Ecology Governance?
The all-time high price of Chemix Ecology Governance is $4.57 on May 11, 2021 (over 1 year).
What is the lowest price for Chemix Ecology Governance?
The all-time low price of Chemix Ecology Governance is $0.016915620796 on Apr 13, 2022 (8 months).