Skip to content
No description, website, or topics provided.
Branch: master
Clone or download
Fetching latest commit…
Cannot retrieve the latest commit at this time.
Permalink
Type Name Latest commit message Commit time
Failed to load latest commit information.
LICENSE
README.md
TechnicalDetails.md
kvartalo-architecture.png
kvartalo-architecture.xml

README.md

kvartalo - docs

cryptocurrency system for neighbourhoods

Disclamer

This document is an ongoing process, that will be improved through collective debates and consensus.

Naming

  • eur is euro
  • kvt is the kvartalo token
  • entity / entities are the organizations/associations that participate

Economics

  • value 1:1 with eur
    • tokenized eurs
    • with possibility to unlink the value from eur in the future, but for the moment is a fixed rate
  • token creation
    • each entity that will participate in the experiment, says which quantity of eur will be able to block
    • each entity 'blocks' / 'frozes' that quantity of eur, and receives that quantity in kvt. That action is a trusted action, as the entity is a trusted entity by the ecosystem
      • in this way, all the kvt quantity of the ecosystem will be backed up with eur
    • to adquire kvt people can go to one of the entites that participate in the experiment, changing their eur for kvt
    • a person that have kvt will be always able to change them back to eur
  • a multisig owned by the different entities manages the suply of kvt
    • when a new entity want to go in, will hold the eur and will receive the same quantity in kvt that are created (minted) by that multisig
  • no money value is created in any moment. All the kvt are 'tokenized eur', in other words, the kvt are representations of real eur
    • all the inputs and outputs are always equal

Tech

  • deployed over a Ethereum PoA

More details in https://github.com/kvartalo/docs/blob/master/TechnicalDetails.md

Architecture

kvartalo-architecture

Components

Usability tradeoffs for the first version

  • common addresses limited to maximum of 20kvt
    • it's a low amount for the first phase of the experiment
    • to avoid acumulation and risks
    • 20eur is a typical amount that people have in their pockets in a 20eur bill format
  • shop addresses will be able to hold more kvt, as they will need to accumulate the transactions of the payments
  • a proposal could be that the products selled in kvt will have some kind of % discount, to incentivize the use of kvt instead of eur

Governance

  • for each transaction, there is a 1% fee
  • each month, the people using their wallet will be able to vote in which social cause will go the fees of that month
  • in this first phase, to avoid cheating, only addresses with more than a threshold kvt amount during X window time, will be able to vote
  • kvt from fees will go directly to the address decided in the votation
You can’t perform that action at this time.