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0g-chain/x/liquid/spec/01_concepts.md
Kevin Davis 9e7686673e
feat: add liquid module spec (#1484) 
* feat: add liquid module spec

* add codeblock languages for syntax highlighting

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Co-authored-by: Robert Pirtle <astropirtle@gmail.com>
2023-03-06 17:32:52 -07:00

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Concepts

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.