Kronos Dao
Kronos DAO is a decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token.
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Kronos Dao
Kronos DAO is a decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token.
Kronos DAO is the first decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token. Each KRNO token is backed by a basket of assets (e.g., KDAI, KRNO-KDAI LP Tokens, and etc.) in the Kronos DAO treasury, giving it an intrinsic value that it cannot fall below. Kronos DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
February 15, 2022
What is Kronos DAO?
Kronos DAO is the first decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token. Each KRNO token is backed by a basket of assets (e.g., KDAI, KRNO-KDAI LP Tokens, and etc.) in the Kronos DAO treasury, giving it an intrinsic value that it cannot fall below. Kronos DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
What is the point of Kronos DAO?
Our goal is to build a policy-controlled currency system, native on the Klaytn chain, in which the behavior of the KRNO token! In the long term, we believe this system can be used to optimize for stability and consistency so that KRNO can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.
How can Kronos DAO be justified in Klaytn?
We believe a policy controlled currency system can work as a core infrastructure for the Klaytn chain’s scalability.
Klaytn seeks to achieve mass adoption of blockchain by providing a user-friendly interface and having corporate-run consensus nodes by Klaytn Governance Council. Having a close relationship with corporates in the market might be helpful for the adoption of the general public. However, it also means the ecosystem is easily affected by the market volatility and sacrifices decentralization of the ecosystem, which hinders a big part of the blockchain community from participating in the Klaytn chain.
Kronos DAO aims to solve this by creating a non-pegged reserve currency called KRNO. KRNO can function as a currency that is able to hold its purchasing power regardless of market volatility and become an infrastructure for a decentralized community, thus attracting more community participation in building a sustainable ecosystem on the Klaytn chain.
How do I participate in Kronos DAO?
There are two main strategies for market participants: staking and minting. Stakers stake their KRNO tokens in return for more KRNO tokens, while minters provide LP tokens or KDAI tokens in exchange for discounted KRNO tokens after a fixed vesting period.
How can I benefit from Kronos DAO?
The main benefit for ‘stakers’ comes from supply growth. The protocol mints new KRNO tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for ‘minters’ comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in KRNO tokens and thus the minter’s profit would depend on KRNO price when the minted KRNO matures. Taking this into consideration, minters benefit from a rising or static price for the KRNO token!
Who created Kronos DAO?
Kronos DAO is a fork of Olympus on the Klaytn chain. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.
source: kronosDAO
Kronos DAO Airdrop is live: It is giving away a total of 20,000 USD in $KRONOS to 1010 lucky participants.
February 15, 2022
What is Kronos DAO?
Kronos DAO is the first decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token. Each KRNO token is backed by a basket of assets (e.g., KDAI, KRNO-KDAI LP Tokens, and etc.) in the Kronos DAO treasury, giving it an intrinsic value that it cannot fall below. Kronos DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
What is the point of Kronos DAO?
Our goal is to build a policy-controlled currency system, native on the Klaytn chain, in which the behavior of the KRNO token! In the long term, we believe this system can be used to optimize for stability and consistency so that KRNO can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.
How can Kronos DAO be justified in Klaytn?
We believe a policy controlled currency system can work as a core infrastructure for the Klaytn chain’s scalability.
Klaytn seeks to achieve mass adoption of blockchain by providing a user-friendly interface and having corporate-run consensus nodes by Klaytn Governance Council. Having a close relationship with corporates in the market might be helpful for the adoption of the general public. However, it also means the ecosystem is easily affected by the market volatility and sacrifices decentralization of the ecosystem, which hinders a big part of the blockchain community from participating in the Klaytn chain.
Kronos DAO aims to solve this by creating a non-pegged reserve currency called KRNO. KRNO can function as a currency that is able to hold its purchasing power regardless of market volatility and become an infrastructure for a decentralized community, thus attracting more community participation in building a sustainable ecosystem on the Klaytn chain.
How do I participate in Kronos DAO?
There are two main strategies for market participants: staking and minting. Stakers stake their KRNO tokens in return for more KRNO tokens, while minters provide LP tokens or KDAI tokens in exchange for discounted KRNO tokens after a fixed vesting period.
How can I benefit from Kronos DAO?
The main benefit for ‘stakers’ comes from supply growth. The protocol mints new KRNO tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for ‘minters’ comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in KRNO tokens and thus the minter’s profit would depend on KRNO price when the minted KRNO matures. Taking this into consideration, minters benefit from a rising or static price for the KRNO token!
Who created Kronos DAO?
Kronos DAO is a fork of Olympus on the Klaytn chain. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.
source: kronosDAO
Kronos DAO Airdrop is live: It is giving away a total of 20,000 USD in $KRONOS to 1010 lucky participants.
Kronos Dao
Kronos DAO is a decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token.
Kronos DAO is the first decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token. Each KRNO token is backed by a basket of assets (e.g., KDAI, KRNO-KDAI LP Tokens, and etc.) in the Kronos DAO treasury, giving it an intrinsic value that it cannot fall below. Kronos DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
Kronos Dao
Kronos DAO is a decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token.
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