12.3 On Kanon (KNN)
Kanon is an ontology primitive, a fractional ownership of the Web3 Data Utility built by SynesisDAO. It’s also a collectible asset that can be turned into composable DeFi assets such as stablecoins or large-cap coins.
There will be two types of Kanons.
- Non-Performing Kanon (NPK): this is a Kanon that has stopped generating claimable rewards for more than 12 consecutive months. It’s considered out of commission and will remain as a pure collectable. This means:
- No Ontology miner can stake NPK as collateral
- No Atomic Split function can be applied to NPK
- No NFT-to-DEFI function can be applied to NPK
- Active Kanon (AK): this is a Kanon that is actively generating claimable rewards (at least once a year). This means:
- Ontology miners will be able to stake AK as collateral
- Atomic Split function can be applied to NPK
- NFT-to-DEFI function can be applied to NPK
The first set of 10,000 Kanons will be minted around the time of the first beta release of Kanon Exchange. This is for English language only. After that, we will release new Kanons in a new collection named after one of the eighty-eight constellations. And each language can have up to 880,000 Kanons. At this current juncture, our plan is to cover the top 20-30 most spoken languages in the first 3-5 years. Ideally, we aim to cover all human languages, currently estimated to be around 6,500 spoken languages. After we reach financial sustainability, the decision to mint a new collection will be subject to community vote.
Last modified 1yr ago