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# Join the Disucssion | ||
# Overview | ||
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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](https://github.com/orgs/dcdao/discussions/32). KTON is designed to specialize in long-term staking incentives and reward strategies, encouraging long-term commitment from network supporters. | ||
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# KTON and KTON Staking | ||
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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. This serves as a incentive for contributing commitment of *RING*. Once acquired, KTON can be utilized to participate in the [KTON Staking](https://kton-staking.darwinia.network/) grogram. | ||
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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. | ||
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## KTON Specification | ||
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KTON spec can be found on Darwinia [Notion](https://darwinia.notion.site/KTON-Specification-on-Different-Chains-cbb4b2f65c12421282f5f19e310a82d2?pvs=74) | ||
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## Deposit Precompile | ||
TBD | ||
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## Extrinsic API | ||
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- `lock(amount: Balance, months: u8)` | ||
- Lock *RING* for some *KTON* profit/interest. | ||
- Params: | ||
- `amount` : the quantity to be locked. | ||
- `months` : the duration for which the amount is to be locked. | ||
- `claim()` | ||
- Claim the expired-locked *RING*. | ||
- `claim_with_penalty(deposit_id: DepositId)` | ||
- Claim the unexpired-locked *RING* by paying the *KTON* penalty. | ||
- Params: | ||
- `deposit_id`: the specific deposit that you intend to claim. | ||
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](https://darwinia.notion.site/KTON-Specification-on-Different-Chains-cbb4b2f65c12421282f5f19e310a82d2?pvs=74). This serves as a incentive for contributing commitment of *RING*. Once acquired, KTON can be utilized to participate in the [KTON Staking](https://kton-staking.darwinia.network/) grogram. | ||
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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. |
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# Overview | ||
RingDAO is a upcoming DAO based using Tally on Darwinia Chain, intended for governing the Darwinia Chain in its next version. It is currently under development and implementation. [**RING**](https://coinmarketcap.com/currencies/darwinia-network/) will be the govenance token of RingDAO. RING has an initial supply of 2 billion tokens, and its token model can be found in [Genepaper V4](https://darwinia.network/Genepaper_v4.pdf). | ||
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# Other Utilities of RING | ||
RingDAO is a upcoming DAO based using [Tally](https://www.tally.xyz/) on Darwinia Chain, intended for governing the Darwinia Chain in its next version. It is currently under development and implementation. [**RING**](https://coinmarketcap.com/currencies/darwinia-network/) will be the govenance token of RingDAO. RING has an initial supply of 2 billion tokens, and its token model can be found in [Genepaper V4](https://darwinia.network/Genepaper_v4.pdf). | ||
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RING token is also used as the native and gas token of Darwinia Chain, it is also used for collator staking etc. | ||
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## Other Projects governed by RingDAO | ||
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1. Msgport, https://docs.msgport.xyz/ | ||
2. XAPI, https://github.com/xapi-box | ||
## Other projects governed by RingDAO | ||
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* [Msgport](https://docs.msgport.xyz/) | ||
* [XAPI](https://github.com/xapi-box) |
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