Governance (KSP token)

KLAYswap's Governance is held through voting with the KSP goverance token. This document explains the factors that governance can decide. The governance logic will be announced at a later date.

KSP Token- KLAYswap Protocol Governance

KLAYswap, as a trustless on-chain swap protocol, is a service created by all participants (liquidity providers, traders, and community members) and not by a particular operator. With this and the decentralized, trustless philosophy of blockchain in mind, KLAYswap issued the KSP (KLAYswap Protocol) governance token so participants can create KLAYswap’s policies and direction and lead to the gradual, continued development of the service.

With the KSP governance token, KLAYswap is officially owned by all participants and allows participants to obtain their own continuity of service. KLAYswap, valuing the principle of neutrality and trustlessness, limits the role of KSP to contributing to the development of protocols and the development of service ecosystems so that the protocol’s governance can be strictly observed.

The KSP token has a structure in which tokens can be acquired through Liquidity Mining according to the role defined by ecosystem governance. Total Supply is 126,144,000 KSP and Initial Starting Supply volume is 0 KSP. The first liquidity mining program will begin at the block 43407094 (November 11, 2020 at 09:00 AM (UTC+9)). Further details of the liquidity mining program and the KSP token matrix are shown on the following pages.

Main Utilities of KSP

  1. KCT Token Pool Contract Creation Fee

    • A specific amount of KSP (Pool Contract Creation Fee) must be paid when new KCT token pair pools are created on KLAYswap. This amount will be burned.

  2. Governance Voting

    • KSP holders directly participate to decide the dirction and policies of KLAYswap

    • Example) Decisions over changing important factors such as the Pool Contract Creation Fee, transaction fee, mining distribution, and contracts.

KSP is a governance token with which holders have the responsibility and authority to determine governance agendas in compliance with the protocol-related rules and regulations. Governance is the decision of protocol policies, so holders can have a significant impact on the future direction of the service. As such, please use careful consideration when you participate in governance.

** Liquidity Mining is only available through KLAYswap, and not available on KLAY.exchange. You can withdraw your assets from Klay exchange to use on KLAYswap.**

KSP (KlaySwap Protocol) Token Contract: 0xc6a2ad8cc6e4a7e08fc37cc5954be07d499e7654