The Quicksilver (QCK) token will be Quicksilver’s native token, designed for on-chain governance, paying transaction fees, incentivizing good practice, and rewarding staking participation, both on our chain and others in the Cosmos ecosystem.
There will be a 200 million token supply at genesis, and a further 200 million tokens will be emitted throughout year one. The inflation rate will then drop by 25% every year until the token reaches its maximum lifetime supply of 1 billion tokens. The genesis supply will be distributed as such:
Over 50% of the QCK token genesis supply will go to the community via airdrops and incentives. 30% of newly minted tokens will reward delegators and validators for securing Quicksilver. Another 30% will go to users that provide liquidity for staked tokens on DEXs, with an additional 30% for those who are staking via Quicksilver. Finally, 10% will go to a community pool for governance to improve the ecosystem. This distribution can be changed at any time by the Quicksilver community through governance.
Those who decide to stake on Quicksilver will run the chain as a DAO, where the direction of the Quicksilver protocol will be set by the will of the community. Governance proposals will include decisions such as what chains will be onboarded, community-controlled fund spending, network parameter changes, and what validators, if any, are denied access to Quicksilver. This decision was made to embody Quicksilver’s mission of keeping blockchains in the hands of their communities.
Users who stake via Quicksilver will receive QCK incentives every epoch for choosing decentralized and performant validators. Initially Quicksilver will use Interchain Security, an IBC module that leases a well-established validator set’s security, making the chain extremely secure and decentralized from Genesis. QCK tokens will be used as payment to that validator set for security provision.
The QCK token will be used to pay fees for transactions submitted to the network. These fees are paid to block producers on the network as compensation for ensuring a transaction is included in a block.
Quicksilver will hold an airdrop for every zone onboarded onto the protocol. The airdrop quantities will be determined based on more than just amount staked — How users stake, such as actively participating in governance and choosing decentralized and performant validators, will be rewarded. In order to unlock the QCK rewards, users will have to use the protocol, as a key part of the Quicksilver design is to ensure the decision power of the protocol is in the hands of its community.
The Quicksilver testnet will be launching in Q2 of 2022 — Follow our social channels to stay up to date on our latest news, airdrops, and events.
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