What Is Crypto Klash (KLH)?
Crypto Klash is hidden in the depths of the fourth dimension, and the world structure is divided into the Shallow Sea, the Deep Sea, and the Dead Sea. The Shallow Sea will appear randomly in any world, and players can call on the name of Satoshi to enter the Deep Sea from the Shallow Sea in any world. Legend has it that the deepest part of the fourth dimension hides a set of God’s equations. All Ruach has only one purpose, to mint stable coins, increase the depth of GOSH Realm, and take the world down close to the deepest part of the Void, near the Source of Truth.
Only the most determined and unafraid of death can enter the Dead Sea, be purified, and return to the Cathedral for further sacrifice. Pilgrims who do not have a strong-will will enter the Dead Sea and will be crushed by the pressure and fall into madness.
Crypto Klash Storage Key Points
|Coin Name||Crypto Klash|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The protocol is a dual token system that includes the stable coin, GODL, and a governance token, Crypto Klash. The protocol also has a pool contract which holds USDC, DAI、UST collateral. Pools can be added or removed with governance. Although there’s no predetermined timeframes for how quickly the amount of collateralization changes, we believe that as GODL adoption increases, users will be more comfortable with a higher percentage of GODL supply being stabilized algorithmically rather than with collateral. Also, GODL uses the Chain link oracle and the Uniswap prophecy machine to get the real dollar price, which makes GODL stable for the dollar itself, rather than just using a weighted average of existing stable coins.
GODL can always be minted from the system and exchanged for $1 value. So there is a natural arbitrage mechanism that allows arbitrageurs to “help” the agreement maintain price stability. Specifically, if the GODL market price is initially above $1, then the user can inject the agreement with a $1 asset, mint the Crypto Klash and then complete the arbitrage by selling the GODL (above $1) in the open market. Conversely, if the GODL market price is below $1, then the user can buy GODL (below $1) on the open market and then exchange the collateral assets back from the agreement for $1. Of course, this process is related to the token minting and redemption mechanism.
Crypto Klash In general, GODL’s minting and redeeming mechanism is similar to Frax. All GODL tokens are fungible with one another and entitled to the same proportion of collateral no matter what collateral ratio they were minted at. This system of equations describes the minting function of the GODL Protocol.
The protocol adjusts the collateral ratio during times of GODL expansion and retraction. During times of expansion, the protocol decollateralizes (lowers the ratio) the system so that less collateral and more GOSH must be deposited to mint Crypto Klash. This lowers the amount of collateral backing all GODL. During times of retraction, the protocol recollateralizes (increases the ratio). This increases the ratio of collateral in the system as a proportion of GODL supply, increasing market confidence in GODL as its backing increases.
At genesis, the protocol adjusts the collateral ratio once every hour by a step of .25%. When Crypto Klash is at or above $1, the function lowers the collateral ratio by one step per hour and when the price is below $1, the function increases the collateral ratio by one step per hour. This means that if GODL price is at or over $1 a majority of the time through some time frame, then the net movement of the collateral ratio is decreasing. If GODL price is under $1 a majority of the time, then the collateral ratio is increasing toward 100% on average.
Buybacks & Recollateralization
The protocol at times will have excess collateral value or require adding collateral to reach the collateral ratio. To quickly redistribute value back to Crypto Klash holders or increase system collateral, two special swap functions are built into the protocol buyback and recollateralize.
Anyone can call the recollateralize function which then checks if the total collateral value in USD across the system is below the current collateral ratio. If it is, then the system allows the caller to add up to the amount needed to reach the target collateral ratio in exchange for newly minted Crypto Klash at a bonus rate. The bonus rate is set to 2.% to quickly incentivize arbitragers to close the gap and recollateralize the protocol to the target ratio. The bonus rate can be adjusted or changed to a dynamic PID controller adjusted variable through governance.