The Kyoto Network Whitepaper
  • The KYO Coin and The Kyoto Network
    • Overview
  • Our EcoSystem
    • Kyoto Coin (KYO)
      • Distribution & Use of Proceeds
      • KYO Valuation
    • Kyoto Carbon (KYOC)
      • Kyoto Carbon Credit Spot Tokens
      • Kyoto Carbon Credit Forward Tokens
      • Kyoto Carbon Offset Token
    • KyotoDEX
      • Kyoto DEX
        • Liquidity Pools & LP Token
        • Token Listing on Kyoto DEX
      • Yield Farming
      • Staking Pools
      • Kyoto Carbon Credit Perpetuals
      • Kyoto Token Factory
  • Market Fundamentals
    • Executive Summary
    • The Current State of Our Environment
    • Urgent Actions Required
    • Regulated Carbon Credit Markets
    • Voluntary Carbon Credit Markets
    • Latest Carbon Credit Market Prices
  • Extras
    • Tokenizing Carbon Credits-"caveat emptor"
  • KYOTO NETWORK
  • Use Cases
  • Migration To Polygon
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  • Token Details
  • Description
  • Utilities
  1. Our EcoSystem

Kyoto Coin (KYO)

KyotoDEX system & governance token.

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Last updated 2 years ago

Token Details

  • Token Name: Kyoto Coin Token

  • Token Symbol: KYO

  • Token Address:

  • Blockchain Network: currently BSC with future migration to Polygon

Description

KYO, an ERC-20 token is the system token for the KyotoDEX. It is a utility token. The KYO serves 2 main purposes in the exchange:

  1. It acts as the sole medium of exchange or payment token for products and services offered in KyotoDEX.

  2. It is the governance token for the KyotoDEX ecosystem, where 1 token is equivalent to 1 voting right.

Utilities

Medium of Exchange

  1. Investment & trading in KyotoDEX: All tokenized carbon credits listed on KyotoDEX are quoted against KYO.

  2. Liquidity Provider in KyotoDEX: for the automated market maker part of KyotoDEX, KYO is one of the two liquidity pools in every trading pair. Liquidity provider earns a share of the 0.25% out of the 0.30% trading fees generated by the pool.

  3. Staking: owners can stake their KYO in KyotoDEX's Staking Pools and earn returns on their KYO holdings.

Governance

The Dev Team plans to migrate KyotoDEX into a Decentralized Autonomous Organization or DAO by the end of 4th quarter 2023. When that takes place, KyoDEX protocols can only be upgraded and configured by KYO holders and their delegates. All potential changes to the protocol including addition of new carbon credit tokens, newer staking pools as well as governance rules, must pass through a proposal and voting process as specified in the governance smart contracts.

Key governance concepts:

  1. KYO: an ERC-20 token that give voting rights to the owner on the basis of 1 KYO = 1 vote.

  2. Delegation: KYO holders cannot vote or create proposals until they delegate their voting rights to an address. Delegation can be given to one address at a time.

  3. Proposal: an executable code that modifies the protocol and how it works, any KYO owner can create a proposal once it has a certain minimum number of KYO delegated his/her/it address. Proposals are stored in the “proposals” mapping of the Governance smart contract. All proposals will be subjected to a certain voting period and voting rules. Proposal may be cancelled if it fails to maintain the minimum number of delegates or voting rules.

  4. Voting: a KYO owner can vote for or against single proposals once they have voting rights delegated to their address.

  5. Timelock: All governance and other administrative actions are required to sit in the Timelock for a certain minimum number of days before they can be implemented into the protocol.