How will KONE be used on the network?
The KONE token serves multiple uses on the network:
- Transaction Fees: Fees are charged in KONE and remitted to node operators, proportional to the aggregate network fees on the Karrier One Chain. Ticket holders can delegate their tickets to preferred node operators and receive a part of the transaction fees.
- Gatekeeper Rewards: About 8% of the total KONE supply is reserved for initial Gatekeeper rewards, intended to stimulate the deployment of Gatekeeper Nodes in the early stages of the network.
- Inflation Rewards: 20% of the total KONE supply is designated for inflation rewards, divided among node operators. The inflation rate will gradually decrease, reaching zero by the 20th year.
- Governance: KONE token holders can vote on Karrier One Improvement Proposals, which are essential for innovation of the network. This is done through the KONE DAO.
- Supernet/Blockchain: Activities related to the Karrier One Supernet, such as deploying smart contracts, NFTs, tokens, and managing fees, will require the use of KONE.
- Payment for Creating PNS Profiles and Transaction Fees: KONE is the default currency for transactions involving the purchase of PNS profiles and settling fees within the Karrier One Dashboard/Wallet.
Last modified 3mo ago