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	* feat: add liquid module spec * add codeblock languages for syntax highlighting --------- Co-authored-by: Robert Pirtle <astropirtle@gmail.com>
		
			
				
	
	
		
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			7 lines
		
	
	
		
			749 B
		
	
	
	
		
			Markdown
		
	
	
	
	
	
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# Concepts
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This module is responsible for the minting and burning of liquid staking receipt tokens, collectively referred to as `bkava`. Delegated kava can be converted to delegator-specific `bkava`. Ie, 100 KAVA delegated to validator `kavavaloper123` can be converted to 100 `bkava-kavavaloper123`. Similarly, 100 `bkava-kavavaloper123` can be converted back to a delegation of 100 KAVA to  `kavavaloper123`. In this design, all validators can permissionlessly participate in liquid staking while users retain the delegator specific slashing risk and voting rights of their original validator. Note that because each `bkava` denom is validator specific, this module does not specify a fungibility mechanism for `bkava` denoms.  |