Konstellation whitepaper 2022
Konstellation is a Layer-1 blockchain protocol built on Cosmos and currently connected to Solana and Binance Smart Chain. Thanks to IBC relayers, Konstellation aims to develop various Dapps in different domains (DeFi, CeFi, NFT, DAO) accessible across all blockchains. Konstellation interoperability allows investors to invest in cross-chain digital assets, mint a wide range of fiat-pegged stablecoins, explore NFT opportunities, and participate in a play-to-earn game and DAO. The network is powered by DARC tokens required for transactions, utility on the Konstellation Dapps, and governance on the Konstellation network.
- Investment in crypto strategies and indexes
- Access to an omni-currency stablecoin protocol
- First DeFi Forex platform
- Explore a NFT marketplace with Korean creators
- Fight in a battle royale Play to earn game
- Engage with crypto projects and marketing/educational content creators through a community-driven DAO
- Stake and vote on governance through a wide range of trusted validators
The Konstellation Network allows both new and seasoned investors to pursue a wide variety of investment opportunities in the DeFi, NFT, and cryptocurrency markets. The projects in the Konstellation Ecosystem that will use the DARC token as fuel for operations are:
- Solana native stablecoin platform
- Wide range of fiat stablecoins available (aEUR,aUSD,aKRW,aJPY,aGBP,aINR)
Alkemy is an omni-currency stablecoin minting protocol on the Solana. It will enable users to mint various fiat pegged stablecoins using a mixed collateral of USD stablecoin and PRIMA token (Alkemy’s utility token). Users can mint, burn, trade, and earn with a wide range of fiat pegged stablecoins from Alkemy. Users will also be able to trade on Taebit with these minted stablecoins from Alkemy.
- Users will have the option to pay their fee with DARC when using Alkemy
- Users will get a discount when they pay their fee with DARC
- Investment platform with crypto strategies and indexes
- Provides sophisticated investment data and content to help investors with their portfolio allocation (Historical data, educational content, weekly newsletter, tutorials, and more)
VegaX is a digital asset management firm creating investment products for sophisticated investors. We provide investors with one-stop access to investment products for digital assets. Investing in cryptocurrencies can be complicated, especially for beginners. VegaX makes crypto portfolio management easy by offering sophisticated investment products to the masses and enabling them to improve their returns.
- Users will have to stake DARC through a dedicated interface
- DARC Stakers will be able to receive discounts on management fees for VegaX investment products
- Users will have the option to pay their VegaX management fee with DARC
- VegaX will burn a portion of the revenue that it receives in the form of DARC
Loan Interest Payments
- When opting for a loan, the interest on the loan can be paid in BTC or DARC. Interest will be paid in BTC by default, but clients can choose the option to pay with DARC instead.
Paying with DARC will include an up to 1% reduction from the interest percentage, which may represent up to a 15-50% reduction in total interest paid
- Stablecoin and forex trading focused DeFi platform
- Built as a decentralized exchange using a Serum GUI
South Korea represents one of the largest cryptocurrency markets in the world. Taebit will be the bridge that makes blockchain and cryptocurrency easily accessible to the Korean market. Taebit is a usability and solution-driven DeFi platform. The goal is for Taebit to become the world's leading decentralized digital asset exchange platform. It combines all of the existing forces within the ecosystem to maximize security, usability, and accessibility for all users.
- Play to earn NFT game
- 456 NFT minted by batch on Solana with unique design and characteristics
- Participants are selected through airdrop and auction, using DARC currency
Squid OG games exist for one thing and one thing only: to give the lucky NFT recipient one chance to hit the jackpot. The Squid Squad OG Games gathered thousands of squids to accept a strange invitation to compete in — Rock, Paper, Scissors. A battle royale tournament game, where survivors can earn up to 45 600$, $100 is added to the prize pool for each burnt losing NFTs. Surviving players are given the option to vote whether to continue the game every two matches. Depending on the choice of the majority, they will have the opportunity to share the prize pool with the remaining contestants and keep their winning NFT or continue the game to further increase the prize pool.
Mint, play, earn and trade
- Users can use DARC to participate in the Squid Game OG NFT Lottery, minting and auction. NFT buyers will then need to register for the Squid Squad game where they will have the opportunity to win their unique NFT and a prize reward in USDC and DARC
- Players can also trade their NFT in-game using DARC
- Platform that aimed to reward content creators in crypto for completing bounties
- Bounties are sponsored by crypto projects
Hold My Ledger DAO is a content-creation DAO founded to onboard all crypto users. It aims to become the entry point for crypto market participants, allowing users to learn, create, get paid, and own content. This crypto-native marketing push is essential in establishing global awareness for Konstellation and others Cosmos projects in India and worldwide. Hold my ledger DAO will use crypto rewards on its Discord in order to incentivize community engagement from its members.
- K-Culture themed NFT marketplace built on Solana for the Global Audience
- Enabling direct minting of music, collectibles, art, and more
- Payment using DARC
Kambrian is an NFT marketplace focused on Korean content creators. Using the DARC token governed by Konstellation Korea and built on Solana, the NFTs benefit from a wide-open marketplace scene with gas and minting fees near zero. On Kambrian, users can mint NFTs and participate in an auction to buy any creation they like. A wide choice of content will be added to the platform in the future, including Konstellation’s line of NFTs.
Mint and trade NFT
- Users can directly use DARC to trade NFT on Kambrian Marketplace
- NFT creators will also have to use DARC to mint their collections
- Swap DARC from different blockchains
- Swap Cosmos and IBC based token to Solana and Binance Smart chain
- Transaction fees paid in DARC
Konstellation bridge allows DARC holders to swap DARC from multiple blockchains, such as Binance Smart Chain and Konstellation native blockchain (IBC enabled on Cosmos). Bridges to other blockchains such as that of Solana are being developed.
The DARC token powers the Konstellation network. Konstellation has its own dedicated digital asset interface known as Hubble, through which users can manage their portfolios. It is an all-in-one interface to access the DARC token economy. We continue to upgrade the Hubble to support increasing composability and the seamless transfer of value across chains. The interface and systems by which DARC can be accessed, utilized, and managed are consistently being upgraded for broader use by the community.
The Konstellation's initial token-based capital raise was conducted in 2018 . Below is the breakdown of the initially issued 1 billion DARC on the Binance Chain:
- 4% Seed round investors
- 6% Developers
- 10% Reserve
- 30% Management & Staff
- 50% Token Sale
By April 2022, 672,594,444 DARC tokens have swapped from Binance Chain to Binance Smart Chain. The DARC token is now present on Cosmos SDK (connected through IBC) in its native version and on Binance Smart Chain and Solana through the wrapped version. The current inflation rate is 14%.
The Konstellation team relocked 75% of the undistributed tokens from the team-related pools under a one-year linear vesting agreement beginning August 1st, 2021. Seed round investors vested all their DARC (4% of total) over the same period, with a cliff vesting at the end of the one year.
The governance structure will allow any DARC stakers on Hubble wallet to participate in vote proposals on the network. Stakers can vote on a proposal over a standardized period with one of two responses: Yes or No.
There are two types of proposals:
- Major/Disruptive Proposal: This proposal will concern significant changes within the blockchain. Some examples of major proposals could be changes to the blockchain architecture and tokenomics. Any proposal with a 75% plus one majority of cast votes at the end of the proposal period shall be considered an accepted proposal.
- Minor Proposal: This proposal will concern complementary implementations on the blockchain. Any proposal with a 50% plus one majority of cast votes at the end of the proposal period shall be considered an accepted proposal. The proposals can be submitted for additional considerations related to the development of the dashboard or to adding new investment strategies and opportunities. Most of the proposals will be minor proposals.
Only the votes “YES” or “NO” will be considered in the final count.
After further discussions with stakeholders and the DARC community, the Konstellation team will share additional details on the governance mechanism.