$KIMP utility
The four functions of $KIMP - reporter bond, fee share, buyback and burn, and governance - and the protocol fee split that funds them.
$KIMP is the protocol token of KIMP. It has a fixed supply of 1,000,000,000 and four functions, each enforced by a contract. $KIMP has not launched.
$KIMP is never used for gas. Gas on GIWA is paid in ETH.
Fee split#
Every base fee collected by KimpMarket is split at collection.
| Recipient | Share | Contract |
|---|---|---|
| Kimp Pool liquidity providers | 50% | KimpPool |
| $KIMP stakers | 30% | KimpStaking |
| Buyback and burn | 20% | KimpBuyback |
Skew charges and liquidation penalties are not part of this split. Skew charges go 100% to the Kimp Pool. Liquidation penalties go 90% to the pool and 10% to the keeper. See Fees.
1. Reporter bond#
Reporters publish the Kimp Index every 60 seconds. To join the reporter set, an operator bonds $KIMP in KimpReporterRegistry. The bond is slashable.
- Automatic flagging: a report deviating more than 25 bps from the finalized median is flagged. Three flags within 24 hours slash 10% of the bond and suspend the reporter.
- Disputes: a proven deviation can slash up to 50% of the bond. Half goes to the challenger and half is burned.
- Unbonding takes 14 days.
- The minimum bond is set by governance before mainnet.
See Bonding and slashing.
2. Fee share#
Stakers deposit $KIMP in KimpStaking and receive 30% of protocol fees, pro rata to stake. Reporters are paid from this share, so the stakers' net share is 30% minus reporter compensation. Rewards are paid in the assets collected as fees, ETH and USDC, and claimed with claim.
| Parameter | Value |
|---|---|
| Share of base fees | 30% |
| Reporter payments | Paid out of this share |
| Unstake cooldown | 7 days |
| Rewards during cooldown | None |
A staker calls requestUnstake, waits 7 days, then withdraws. The cooldown discourages staking only around fee events.
3. Buyback and burn#
20% of base fees accumulate in KimpBuyback. Anyone can call execute() at most once every 24 hours. It swaps the accumulated fees for $KIMP on an on-chain GIWA DEX, subject to a TWAP price guard of at most 1% deviation, and burns the $KIMP received. Total supply decreases with every execution. See Buyback and burn.
4. Governance#
$KIMP stakers govern the protocol through on-chain proposals, a 5-day vote and a 48-hour timelock. Governable scope includes:
- listed assets and their OI caps,
- index sources, including the switch to the Upbit Oracle via
KimpIndex.setSource, - leverage and position limits,
- fee parameters and the skew curve,
- Verified Lane rules and sub-caps,
- election of the Dispute Committee.
See Governance process.
What $KIMP is not#
- Not collateral for Kimp Contracts. Collateral is ETH, bridged USDC and, once it exists, the GIWA KRW stablecoin.
- Not a claim on the Kimp Pool. That claim is kLP.
- Not a gas token.
- Not issued, endorsed or listed by Dunamu, Upbit or the Optimism Foundation. KIMP is not affiliated with any of them.