Overview

KtonDAO is a community initiative primarily initiated and conceived by KTON holders. Although it is not yet fully formed, there have been some forum discussions. KTON is designed to specialize in long-term staking incentives and reward strategies, encouraging long-term commitment from network supporters.

KTON and KTON Staking

KTON was introduce to incentive and exchange for the long commitment of RING. The initial supply of this token is zero, and it is specifically minted when a user participates in the deposit system by locking RING for a predetermined period. The comprehensive spec can be found on Darwinia Notion. This serves as a incentive for contributing commitment of RING. Once acquired, KTON can be utilized to participate in the KTON Staking grogram.

Take the Darwinia chain as an example, users have the option to lock their RING for a maximum of 36 months during the staking process. As a form of reward for their participation in staking, the system grants users KTON. It is crucial to note that users cannot unlock their RING during the committed pledge period unless they forfeit triple the amount of KTON from their accounts as a penalty. Consequently, during the RING staking process, users have the discretion to lock their RING for a specific period and receive KTON in return.