[KCF Application] InvincibleNode, Accelerating Klaytn Liquid staking (even more)

1. Product name
Invincible Node(https://invinciblenode.app/)

2. Product Description

Product Summary

  • Invincible Node is a service that enables easy NFT issuance based on DeFi positions within the Klaytn ecosystem. It is currently compatible with Liquid Staking protocol(stake.ly) and plans to integrate with more DeFi protocols in the future.
  • $INVI tokens can be issued using NFT minted in the protocol as collateral, and there are mechanisms in place to prevent inflation within the protocol.
  • Users can leverage their positions to maximize staking rewards, while new GC nodes can easily onboard to the Klaytn ecosystem by leveraging a portion of the 500M $Klay allocated.
  • Liquidity providers(LPs) who supply liquidity to the leverage pool and swap pool within the protocol are incentivized with $INVI tokens.

Key Features

  • Leverage Staking: This feature allows users to stake their DeFi positions with leverage and mint NFTs based on their staked positions. It operates as follows:
    1. Users leverage their $Klay by staking it in the protocolโ€™s LP pool.
    2. The contract interacts with external liquid staking protocols to issue NFTs reflecting the leverage applied.
    3. The NFTs represent the userโ€™s staked assets, accrued interest, leverage amount, and accumulated interest.

  • Incentivize based on collateral: NFT issuance is tied to the staking ratio, resulting in lock-up periods proportional to the ratio. When users lock up their collateral, they can mint the incentive token $INVI. The amount of $INVI issued is up to 80% of the NFTโ€™s current $Klay value. The leverage ratio determines the mandatory staking period and protocol fees.

  • Burning Native & Protocol Token: Contribution to token deflation occurs through burning $Klay and $INVI based on lock-up periods, NFT withdrawls, and token burning.
    $Klay is burned in two ways:

  1. 20% of the fees generated within the protocol are burned.
  2. When users lock up NFTs and receive $INVI, they can burn up to 20% of the NFTโ€™s current value in Klay. Burning Klay in this manner increases the total amount of $INVI they receive.
    โ†’ When users burn n% of the NFTโ€™s value in Klay (0 < n <= 20), they receive up to [n/20 * 0.125 + 1] times more $INVI. (Maximum 90%)

Key Differentiatons of the Product

  • Compatibility with existing DeFi: The product features a structure that allows interoperability with existing DeFi platforms. Users can leverage $stKlay from stake.ly to mint NFTs and issue $INVI tokens.
  • Fast liquidity and trading using NFTs: The utilization of NFTs enables quick liquidity provision and trading. NFTs can be utilized as financial instruments and bonds, enhancing versatility.
  • Tokenโ€™s floor value and deflationary mechanism: Unlike typical DeFi projects, the token has a floor value set at 80% of its value in $Klay. Additionally, a deflationary mechanism is incorporated to mitigate excessive token issuance.

Impact on the Klaytn Ecosystem

  • Lock-up of circulating supply through Klaytn staking: The project contributes to locking up circulating supply by enabling users to stake their Klay for leverage and NFT issuance.
  • Eases onboarding for GC nodes: New GC operators can participate more easily as they can leverage a portion of their 500M $Klay to operate, encouraging greater participation in the Klaytn ecosystem.
  • Potential for external liquidity inflow: When NFTs issued by the protocol are traded for coins on other chains, it leads to an influx of external liquidity into the Klaytn network.

Tokenomics & Protocol fee

$INVI Token Structure:

New issuance: 90%

  • Provided when NFTs are locked up: 60%
  • Rewards for INVI stakers: 15%
  • LP rewards: 10%
  • Team allocation: 5%

Unlocked over 30 months [2 years and 6 months]. Maximum 3% unlock per month. A maximum of 3% of INVI tokens provided when NFTs are locked up. LP provider rewards capped at 1%. Staker rewards capped at 0.5%. Team rewards capped at 0.25%. Remaining tokens are moved to the INVI DAO pool for burning or future allocation.

Sales and Airdrop: 10%

  • Pre-seed: 4%
  • Seed: 4%
  • Airdrop and marketing: 2%

this amounts are Unlocked over 20 months starting 4 months later[2 years]. 0.4% unlocked per month (0.2% for pre-seed, 0.2% for seed, airdrop and marketing allocation pending).

Protocol fee revenue(in Klay)

  • 50%: Provided as rewards for stakers, matching the locked value after unlocking.
  • 25%: Issued as LP rewards, matching the locked value after unlocking.
  • 20%: Burned.
  • 5%: Issued as team rewards, matching the locked value after unlocking. (Provided in $Klay if the $INVI issuance limit is exceeded).

INVI DAO operation:

Only $INVI stakers can participate in the governance of INVI DAO. The amount staked corresponds to the governance participation opportunity, and the INVI DAO can utilize the $Klay stored in the INVI DAO pool for future $INVI purchases and burning.

Team allocation and more:

The team can only acquire $INVI tokens generated from protocol revenue, excluding 10% allocated for token sales and airdrops. Therefore, the team can prevent inflation due to an increase in $INVI supply. To participate in governance, the team must stake $INVI tokens and participate in the DAO.

3. Team Information

  • Team Name: Blockwavelabs
  • Team History
    • 2023 Polygon X Jump Crypto participation(The Only South Korea Team)
    • 2023 Runner up & Honorable mention of Aptos Seoul Hackathon
    • 2022 Runner up of Evmos X Covalent Hackathon
    • 2022 Winner of Cosmos HackAtom

4. Grant Proposal

Size of Grants: We are requesting a grant of $245,000 for LP and Audit & Marketing.

4Q23 Milestone: Establish LP pools and launch the mainnet

1Q24 Milestones: Generate real usage with the following targets

  • Monthly Active Wallets (MAW): 1,000 different wallet addresses.
  • Daily Transactions: 10,000 transactions per day.
  • Accumulated Protocol Revenue: $500,000 or more.

2Q24 Milestones: Add external liquidity sources

  • Develop a marketplace for Klay position NFTs(bonds).
  • Support trading based on tokens from other blockchains, such as Ethereum, within the marketplace.
  • Consider providing discounts or cashback for external token trades to increase external demand.
    (Explore the creation of Klay position NFTs for trading with external currencies, thereby generating additional demand for Klay beyond the Klaytn ecosystem.)

5. Budget Proposal

We are requesting the following amounts in USD:

Liquidity Provision: $200,000
Audit & Marketing: $45,000

  • Audit Cost Estimate: Around $40,000 (Weโ€™ve already received a quote from the Odit companies like Haechi Labs or Hexlant, and We can provide the quotation if needed)
  • Marketing: Approximately $5,000 (Includes Telegram channel and other marketing expenses)
1 Like

I think a leverage staking, collateral-based incentive is a good project. How about requesting the LP amount in stages rather than all at once at $200,000? Also, since the costs for Audit & Marketing are to be covered by selling the granted KLAY, might it be difficult to get approval for those expenses?

1 Like

We agree with your suggestion that we receive grants in stages - in terms of the process, we assumed that requesting funding all at once could be more efficient.

Second, when it comes to auditing and marketing, if we could acquire help from the Klaytn foundation or other Klaytn partnerships or from other funds, selling granted Klay would certainly be replaced - the invincible node is to continually contribute to the Klaytn.

1 Like

Hello, this is the Invincible Node team. We asked for $200K in liquidity, but this may be a bit excessive when considering the main goal of the protocol. So, we wanted to suggest the revision of the proposal to only apply for audit costs and an amount that will support the team for a certain period of time.If the budget could be adjusted to $40K in sum, the team thinks there would not be much trouble achieving the 3 month milestone.

We plan to allocate approximately $6K per month in Operation of the development (total of 18K), $20K in Audit, and $2K for the Reserve. We plan to use the reserve for Protocol test, Server and some more expenses for the APIs, etc.Regarding liquidity provision, we are talking to several ecosystem partners inside Klaytn, including Stake.ly & Kracker Labs.
If there is a lack of initial LP, the team can find the answer through other methods, like a supporting amount from available partnerships like Stake.ly.

Accumulated staking rewards from GC nodes could be provided and generate more of economic value as well.The team has been preparing this project since the 2022 summer, and the goal has always been the same.

The main goal is to boost Klaytn Liquid Staking and allow more Klay to be locked up for longer period. To do so, the core of the Invincible Node is to provide eligible economic rewards, but to create sustainable incentives by backing them up through fees generated by the protocol.

The team also had a conversation with Kracker Labs from late 2022 to early 2023, and received feedback from various ecosystem participants such as Ozys and Klaytn Foundation.

Above all, the model could be started only with LP pool but without massive leverage pool in the beginning. The protocol could be bootstrapped with low liquidity and attract more users like GC nodes or the mass possibly.Leverage could be implemented later on with another milestone. Leveraging plays a instrumental role in locking up more Klay (since it promises more incentive in the near future).

Since only the ownership of Klay is transferred in a staked state without receiving separate collateral, it is also safe from DeFi attacks which lower the collateral value and liquidate them.Accordingly, we believe that liquidity provision should follow the decisions of GCs.

Even though it is difficult to provide a certain amount of liquidity, the team would go with a lowered budget plan, only with audit fees and operating expenses.(*Of course, if liquidity could be supplied, it would benefit the ecosystem by accelerating the whoe process and locking up a large amount of Klay in the early stages. Operating costs can be covered by protocol fees in this case.)

Thanks for reading this, I hope all of you have a nice day!

1 Like

Thanks for the proposal, Blockwavelabs team.

First, I am really happy with that this project is willing to contribute KLAY burning mechanism voluntarily! Great job and I am really want to see how it goes.

I have some questions regarding the project to understand more.

  1. How many $invi I will get If I stake and leverage 10K KLAY with 4x leverage ratio?

  2. Why the NFT is needed? What is the difference if users can get $invi directly instead of NFT?

  3. Do you have any specific plan to grab users and generate transactions especially for 1Q24? How can you make revenue of 500K or more?

  4. Also to motivate users to provide liquidity, what kinds of plan do you have?

Thanks!

4 Likes

I am viewing it through the Korean translation function, but the technical mechanism seems a bit complicated. So, is it possible to translate it into Korean?

2 Likes

If appropriate compensation for long-term staking is provided, we expect there will be a lot of demand. I think this will be able to lock up a lot of Klay in the ecosystem, and therefore will be a positive dapp for the ecosystem.

2 Likes

Sure, hereโ€™s KR version, we added more of explains. Hope this to work for you well!

1. ์ฃผ์š” ๊ธฐ๋Šฅ : ๋ ˆ๋ฒ„๋ฆฌ์ง€ ์Šคํ…Œ์ดํ‚น
โ‘  ์ธ๋นˆ์„œ๋ธ” ๋…ธ๋“œ๊ฐ€ ์ดˆ๊ธฐ์— ์ œ๊ณตํ•˜๋Š” ์„œ๋น„์Šค๋Š” โ€œ๋ ˆ๋ฒ„๋ฆฌ์ง€ ์Šคํ…Œ์ดํ‚นโ€ ์ž…๋‹ˆ๋‹ค. ์œ ์ €๋Š” ํ•ด๋‹น ๊ธฐ๋Šฅ์„ ์‚ฌ์šฉํ•˜์—ฌ ์›๊ธˆ ๋Œ€๋น„ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋œ ์ด์ž๋ฅผ ์ผ์ • ๊ธฐ๊ฐ„ ์ดํ›„ ์ˆ˜๋ นํ•ฉ๋‹ˆ๋‹ค.
โ‘ก ์œ ์ €๋Š” ์Šคํ…Œ์ดํ‚น ํ•  ์›๊ธˆ๊ณผ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฐฐ์ˆ˜, ํ•„์ˆ˜ ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„ ๋“ฑ๊ณผ ๊ฐ™์€ ์Šคํ…Œ์ดํ‚น ํฌ์ง€์…˜์ด ์ €์žฅ๋œ NFT๋ฅผ ์ˆ˜๋ นํ•ฉ๋‹ˆ๋‹ค.

  1. ์ž‘๋™ ๋ฐฉ์‹
    โ‘  ์‚ฌ์šฉ์ž๋Š” LP ํ’€์„ ํ™œ์šฉํ•˜์—ฌ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฐฐ์ˆ˜๋ฅผ ์š”์ฒญํ•˜๋ฉฐ ์›๊ธˆ์„ ์Šคํ…Œ์ดํ‚นํ•ฉ๋‹ˆ๋‹ค.
    โ‘ก ์ปจํŠธ๋ ‰์€ ์™ธ๋ถ€ LS ํ”„๋กœํ† ์ฝœ๊ณผ ์ƒํ˜ธ ์ž‘์šฉํ•˜๊ณ  ์žˆ์œผ๋ฉฐ, ์œ ์ € ํŠธ๋ Œ์ ์…˜์ด ์ ‘์ˆ˜๋˜๋ฉด NFT๋ฅผ ๋ฐœ๊ธ‰ํ•ฉ๋‹ˆ๋‹ค. NFT๋Š” ์œ ์ €์˜ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ์Šคํ…Œ์ดํ‚น ํฌ์ง€์…˜ ์ •๋ณด๋ฅผ ํฌํ•จํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.
    NFT ํฌํ•จ ์ •๋ณด๋Š” ๋‹ค์Œ๊ณผ ๊ฐ™์Šต๋‹ˆ๋‹ค :
    ์œ ์ € ์›”๋ › ์ฃผ์†Œ / ์Šคํ…Œ์ดํ‚น ์›๊ธˆ(a) / ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฐฐ์ˆ˜(b) / ๋ ˆ๋ฒ„๋ฆฌ์ง€๊ฐ€ ์ ์šฉ๋œ ์ˆ˜๋Ÿ‰(= a*b) / ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ / ํ•„์ˆ˜ ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„

  2. ๋‹ด๋ณด ๊ธฐ๋ฐ˜ ์ธ์„ผํ‹ฐ๋ธŒ ํ† ํฐ ์ œ๊ณต
    โ‘  NFT ์— ํฌํ•จ๋œ ํ•ญ๋ชฉ ์ค‘, โ€œํ•„์ˆ˜ ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„(Lock-up period)โ€ ์— ๊ด€ํ•œ ์„ค๋ช…์ž…๋‹ˆ๋‹ค.
    โ‘ก ํ•„์ˆ˜ ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„์€ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฐฐ์ˆ˜์™€ LP ํ’€ ๋ฌผ๋Ÿ‰ ๋Œ€๋น„ ์œ ์ €๊ฐ€ ๋นŒ๋ฆฐ ๋ฌผ๋Ÿ‰์˜ ๋น„์œจ์— ์˜ํ•ด ๊ฒฐ์ •๋ฉ๋‹ˆ๋‹ค. ํ•ด๋‹น ๊ธฐ๊ฐ„ ๋‚ด์— ์œ ์ €๋Š” ์–ธ์Šคํ…Œ์ดํ‚น ์š”์ฒญ์ด ๋ถˆ๊ฐ€ํ•˜๋‚˜, Klay ์Šคํ…Œ์ดํ‚น ๊ธฐ๋ฐ˜์ธ NFT ๋‹ด๋ณดํ™” ์ž‘์—…์„ ํ†ตํ•ด ์ธ์„ผํ‹ฐ๋ธŒ ํ† ํฐ INVI๋ฅผ ์ฐจ์šฉํ•˜๋Š” ๋ฐฉ์‹์œผ๋กœ ์œ ๋™ํ™”๋ฅผ ์ง„ํ–‰ ๊ฐ€๋Šฅํ•ฉ๋‹ˆ๋‹ค.

    โ‘ข INVI ์ฐจ์šฉ : ์œ ์ €๋Š” NFT ๋‹ด๋ณดํ™”ํ•˜๋Š” ์‹œ์ ๊นŒ์ง€ ๋ฐœ์ƒํ•œ ์ด์ž(์›๊ธˆ๋งŒ ๊ณ„์‚ฐ)์™€ ์›๊ธˆ์„ ํ•ฉํ•œ ๊ฐ€์น˜๋ฅผ ๊ธฐ์ค€์œผ๋กœ ์ตœ๋Œ€ 80%์— ํ•ด๋‹นํ•˜๋Š” INVI ์ฐจ์šฉ์„ ํ—ˆ์šฉํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.

    โ‘ฃ ํ•„์ˆ˜ ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„์€ ์ตœ์†Œ 60์ผ ~ ์ตœ๋Œ€ 1300์ผ ๊นŒ์ง€ ์„ค์ •๋ฉ๋‹ˆ๋‹ค.

  3. Klay ์†Œ๊ฐ ๋ฐฉ์‹ : Invincible node๋Š” Klay ํ† ํฐ ๋””ํ”Œ๋ ˆ์ด์…˜์— ๋‘ ๊ฐ€์ง€ ๋ฐฉ์‹์œผ๋กœ ๊ธฐ์—ฌํ•ฉ๋‹ˆ๋‹ค.

    โ‘  ์ˆ˜์ทจํ•œ ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ(Klay) ์˜ 20%๋ฅผ ์†Œ๊ฐ
    a. ์ผ์ • ๊ธฐ๊ฐ„ ๋งˆ๋‹ค ์ˆ˜์ทจํ•œ ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ๋ฅผ ์ •์‚ฐํ•˜์—ฌ, 20%๋ฅผ ์†Œ๊ฐ ๋ฌผ๋Ÿ‰์œผ๋กœ ๋ฐฐ์น˜ํ•ฉ๋‹ˆ๋‹ค.
    b. ์ˆ˜์ˆ˜๋ฃŒ ์ˆ˜์ทจ
    - ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ์˜ ๊ฒฝ์šฐ ๋ฐœ์ƒํ•œ ์Šคํ…Œ์ดํ‚น ์ด์ž(์›๊ธˆ ๋ฐ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฌผ๋Ÿ‰ ํฌํ•จ ๊ณ„์‚ฐ)์— ๋Œ€ํ•ด ์ตœ์†Œ 2% ~ ์ตœ๋Œ€ 20% ๊นŒ์ง€ ๋ถ€๊ณผ๋ฉ๋‹ˆ๋‹ค. ์ด ๋˜ํ•œ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋น„์œจ์— ๋”ฐ๋ผ ๊ฒฐ์ •๋ฉ๋‹ˆ๋‹ค. (์ตœ๋Œ€ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฐฐ์ˆ˜ ~ x5.0)
    c. ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ ๋ถ„๋ฐฐ [ 50% โ†’ LP rewards / 30% โ†’ Invi staker / 20% โ†’ Burn]

    โ‘ก NFT ๋‹ด๋ณดํ™” (๋ฝ์—…) ํ›„ INVI ์ฐจ์šฉ ์‹œ ์ตœ๋Œ€ 20%๊นŒ์ง€ Klay ์†Œ๊ฐ
    a. ๊ธฐ๋ณธ์ ์œผ๋กœ NFT ๋ฝ์—… ํ›„ ์ฐจ์šฉ ๊ฐ€๋Šฅํ•œ INVI๋Š” ํ•ด๋‹น NFT ํ‰๊ฐ€์•ก(Klay)์˜ ์ตœ๋Œ€ LTV 80% ํ•œ๋„๋ฅผ ๋‘๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.
    b. ์ด๋•Œ INVI ์Šคํ…Œ์ด์ปค์˜ ๊ฒฝ์šฐ, ํ•ด๋‹น NFT ํ‰๊ฐ€์•ก์˜ 20% ๊นŒ์ง€ Klay๋ฅผ ์ถ”๊ฐ€ ์†Œ๊ฐ ๊ฐ€๋Šฅํ•œ ์˜ต์…˜์„ ์ œ๊ณตํ•˜๋ฉฐ ์ด๋ฅผ ํ†ตํ•ด ์ฐจ์šฉ ๊ฐ€๋Šฅํ•œ INVI ์ˆ˜๋Ÿ‰์„ ๋ถ€์ŠคํŒ…ํ•ฉ๋‹ˆ๋‹ค.
    โ†’ INVI ์Šคํ…Œ์ด์ปค๊ฐ€ NFT ํ‰๊ฐ€์•ก(Klay)์˜ n%(0 < n โ‰ค 20)๋ฅผ ์ถ”๊ฐ€ ์†Œ๊ฐํ•˜๋ฉด ์ตœ๋Œ€ [n/20 * 0.125 + 1]๋ฐฐ ๋” ๋งŽ์€ $INVI๋ฅผ ๋ฐ›๊ฒŒ ๋ฉ๋‹ˆ๋‹ค. (์ตœ๋Œ€ 90%)

1 Like

1. Key Feature: Leverage Staking
โ‘  The initial service offered by the Invincible node is โ€œLeverage Staking.โ€ Users can utilize this function to receive leveraged interest compared to their principal after a certain period.
โ‘ก Users receive an NFT that stores their staking position, including the principal amount to be staked, leverage multiplier, and the mandatory staking period.

2. How it Works
โ‘  Users request a leverage multiplier using the LP pool and stake their principal.
โ‘ก The contract interacts with external LS protocols, and upon receipt of a user transaction, issues an NFT containing information about the userโ€™s leverage staking position.

Information included in the NFT is as follows:

  • User Wallet Address

  • Staking Principal (a)

  • Leverage multiplier (b)

  • Leveraged amount (=a*b)

  • Protocol Fee

  • Mandatory staking period (Lock-up period)

3. Collateral-Based Incentive Token Offering
โ‘  Among the items included in the NFT, here is an explanation regarding the Mandatory Staking Period (Lock-up period).
โ‘ก The mandatory staking period is determined by the ratio of the userโ€™s borrowed amount to the LP pool size relative to the leverage multiplier. During this period, unstaking requests are unavailable. However, through collateralizing the Klay-based staking NFT, users can liquidate by borrowing the incentive token INVI.
โ‘ข Borrowing INVI : Users are allowed to borrow up to 80% of the INVI, based on the combined value of the interest accrued (calculated only on the principal) and the principal by the time of NFT collateralization.
โ‘ฃ The mandatory staking period : between a minimum of 60 days to a maximum of 1300 days.

4. Klay Token Burn Method
: The Invincible node contributes to Klay token deflation in two ways.

โ‘  20% of the received protocol fees (Klay) are burned

a. Protocol fees collected over a certain period are settled, and 20% of it is allocated for burning.
b. Fee Collection
- For the protocol fees, a minimum of 2% to a maximum of 20% is charged on the staking rewards generated (including the principal and leveraged amount). This also depends on the leverage ratio (~up to max leverage multiplier of x5.0).
c. Protocol fees allocation (Klay)

  • 50% โ†’ LP rewards

  • 30% โ†’ Invi stakers

  • 20% โ†’ Burn

โ‘ก Up to 20% of Klay is burned upon borrowing INVI after NFT collateralization (lock-up)

โ†’ If INVI stakers choose to burn an additional n% (0 < n โ‰ค 20) of their NFT valuation in Klay, they can receive up to [n/20 * 0.125 + 1] times more $INVI (up to a maximum of 90%).
a. By default, the maximum LTV (Loan-to-Value) of the INVI that can be borrowed after NFT lock-up is set to 80% of the NFTโ€™s valuation in Klay.
b. For INVI stakers, thereโ€™s an option to burn up to an additional 20% of the NFTโ€™s valuation in Klay, which boosts the amount of INVI that can be borrowed.

What are the risks that may arise when using the service, including the possibility of liquidation?

It would be better if you explain with an example.

Thank you for your efforts

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Hi Colin, We had prepared responses for all of your questions. It would be highly appreciated as crucial questions that guided the improvement of the protocol.

Q1. / How many $invi I will get If I stake and leverage 10K KLAY with 4x leverage ratio?

A1. / Total INVI Received:
- Based on the calculations, the total amount of INVI you can loan is 31,249.5824 INVI, assuming an exchange rate of 1 INVI = 1 KLAY.

hereโ€™s the logic following the amount of INVI that the user who leveraged 4X and staked 10K Klay would receive.

  1. Leverage Staking:
    • If you stake 10K KLAY with a 4x leverage ratio, it means youโ€™re using your 10K KLAY plus borrowing an additional 30K KLAY, resulting in a total staked amount of 40K KLAY.
  2. Lock-up Period:
    • With a leverage multiplier (L) of 4, the mandatory lock-up period is calculated using the formula 10*L^3 + 50, which equals 690 days.
  3. Protocol Fee:
    • The protocol fee is determined by the formula 2 + (360 * leverage multiplier * (leverage multiplier - 1) * principal) / pool amount, which in this case amounts to 218 KLAY.
  4. Staking NFT:
    • The staking position is issued as an NFT, which records the leverage ratio, principal, borrowed amount, lock-up period, and fees.
  5. Future Value Prediction and Discounting:
    • Assuming a 6% annual increase rate for KLAY, the expected KLAY amount after 690 days is calculated as (40K - 218) * (1.06)^(690/365), which is approximately 44,566.567 KLAY.
    • To discount this to present value using a 7% discount rate, the calculation 44566.567 / (1.07)^(690/365) gives us a present value of approximately 39,061.978 KLAY.
  6. INVI Loan:
    • You can borrow up to 80% of the value of the NFT as INVI, so by the calculation 39061.978 * 0.8, you can loan about 31,249.5824 INVI.
  7. INVI Burn and Lock-up Period Reduction:
    • If you choose to burn the entire amount of INVI to reduce the lock-up period, the reduction time is calculated using Burned INVI's KLAY equivalent current value * total period / (NFT's KLAY equivalent current value * 1.1), which results in approximately 501.81 days. However, even with this burn, the lock-up period does not reduce to zero; about 189 days remain.
  8. INVI and KLAY Demand Increase:
    • This process will naturally increase the demand for both INVI and KLAY in the market, potentially affecting their value.

Q2. / Why the NFT is needed? What is the difference if users can get $invi directly instead of NFT?

Building upon the Klaytn ecosystem, the Invincible Node seeks to boost Klaytn demand and liquidity.

  1. Capturing the Potential for Diverse Financial Products:

    NFTs act as a โ€œbondโ€ representing the userโ€™s Klay staking position, which ties together the principal, borrowed amount, and interest for a user. This bond can be used for hedging investment positions based on market interest rates and the value of Klaytn. It has the potential to evolve into various financial products, expanding the choices for users. Possible directions for development include:

    • NFT Marketplaces:
      • Registering on marketplaces within the Klaytn network and hedging investment positions.
      • Expanding into the Ethereum network and trading Klaytn staking positions within that network.
    • Using NFTs as proof of investment positions in the ecosystemโ€™s DeFi
      • Acting as a trading element, leading to an increase in trading volume within the ecosystem.
  2. Protecting the Value of Klay:

    Providing users with NFTs as staking certificates instead of INVI prevents situations where large amounts of Klay could be captured at a low price using devalued INVI. A potential scenario is as follows:

    • Issuing INVI tokens (via Klay staking) followed by dumping โ†’ Repurchasing Klay with the devalued INVI โ†’ Decrease in Klay value.

    NFTs, due to their characteristics, have a very low potential for such risky situations, hence the approach was taken to prevent the aforementioned scenario.

    Additionally, INVI has been designed to be relatively difficult to acquire for the following reasons:

    • It induces further locking up the Klay staking position NFTs to enhance the loyalty for the ecosystem.
    • INVI is influenced by various factors, not just the value of the staked Klay, such as the protocolโ€™s yield rate and INVIโ€™s own governance. This makes it inappropriate for hedging Klay positions.
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@Ozys Do you have any opinion on this project?

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Hello there!

In the Invincible node, the risk of liquidation is traded off with a Mandatory Lock-up Period. This means that, rather than exposing users to the threat of liquidation typically associated with leveraged positions, the protocol ensures stability by requiring that the staked Klay is locked for a predetermined period.

Hereโ€™s an illustrative example:

When a user decides to leverage stake with the Invincible node, they commit their principal to the protocol. In return, they receive an amplified staking capacity (4n), thanks to the leverage. However, instead of facing a liquidation risk if the market turns unfavorable, the userโ€™s staked Klay is secured during the Mandatory Lock-up Period. They are not at risk of losing their staked assets because thereโ€™s no collateral to be liquidated.

Should the user wish to retrieve their staked assets before the lock-up period expires, they are required to burn Invi tokens, which acts as a mechanism to ensure that premature withdrawal doesnโ€™t disrupt the stability of the system. On the flip side, if users hold onto their NFTs beyond the lock-up period without action, the protocol will assume control over the principal and leveraged Klay, integrating it back into the ecosystem.

By opting for a Mandatory Lock-up Period over the possibility of liquidation, the Invincible node protocol favors a predictable and user-protective staking environment over the high-risk, high-reward scenarios that often characterize leveraged staking platforms.

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Q3 / Do you have any specific plan to grab users and generate transactions especially for 1Q24? How can you make revenue of 500K or more?

A/

Invincible Node Protocol Revenue Structure and Strategy

Fee Distribution:

  • 50% of Klay protocol fees are locked and matched with equivalent INVI tokens for INVI stakers.
  • Another 25% of Klay fees are similarly locked and converted to INVI for stakers.
  • 20% of Klay fees are burned to support token value.
  • 5% of Klay fees are locked up, converted to INVI, and distributed as team rewards, capped at 5% of the total volume and with a monthly withdrawal limit of 0.25% of the total volume.

Target Revenue: $500K

  • Breakdown:
    • Protocol Fees: $100K
    • $INVI Issuance & NFT Trading: $300K
    • Klay Pool Management & Liquidity Fees: $100K

Operational Mechanics:

  • With a total transaction volume of 5n (calculated from the formula 1 / (1-0.8)) and an initial transaction volume of n, an annual interest income of about 6% (or 0.3n) is expected.
  • If 0.3n equals $100K, the initial transaction volume (n) is approximately $333K.

Revenue Generation:

  • The initial $333K transactions in the leverage pool could generate $100K in protocol fees annually.
  • Assuming a 20% return from managing the Klay pool, $500K would represent 20% of the total backup asset pool, estimated at $2500K.
  • This allows sourcing up to $2000K from external GC nodes or other DeFi liquidity borrowings.
  • The total value of $INVI issued would be around $3000K, with a conservative estimate of 10% ($300K) as the protocolโ€™s seigniorage profit.
  • With the initial $333K and an additional $2000K for the Klay pool, the protocol is projected to generate $500K annually.

Strategic Partnerships:

  • In the first quarter, a focus on forming partnerships with existing DeFi protocols within the Klaytn ecosystem is anticipated.
  • While the current model is based primarily on staking, leveraging liquidity in complementary operations with other DeFi protocols could accelerate Klay throughput and increase protocol fees.

Q4/ Also to motivate users to provide liquidity, what kinds of plan do you have?
A4/

let me have an example comparing to the existing DEX on Klaytn, the Klaystation.

Klaystationโ€™s Model:

  • Klaystation offers an APY of approximately 6.84%, including sKlay, which acts as a receipt for the userโ€™s staked amount.
  • sKlay symbolizes the traditional approach to liquid staking, offering a straightforward, interest-earning model for stakers.

Invincible Nodeโ€™s Approach:

  • The Invincible Node, however, is not in direct competition with Klaystation. Instead, it aims to utilize sKlay as an asset for backing up the INVI token.

  • Its primary role is to enhance liquidity within the ecosystem, particularly by aiding existing Liquid Staking Derivatives (LSD) protocols in absorbing more liquidity through the minting of $INVI.

  • The node balances external and internal liquidity by transforming liquidity tokens (like sKlay) into financial products, thus offering additional benefits over single-protocol staking.

  • It is designed to be more resistant to dumping attacks, providing a safer environment for leverage staking compared to traditional models.

  • The focus is also on preventing inflation of both Klay and Invi, with $INVI positioned as a continuous financial incentive backed by its intrinsic value.

  • To maintain stability, the INVI DAO can adjust ratios like price and exchange rates, and since INVI is always backed by an asset pool, it helps in preventing excessive price drops.While offering high yields, the protocol locks a significant amount of Klay, and by integrating with other liquid staking or DeFi protocols, it maximizes the amount of Klay in circulation within the Klaytn ecosystem.

  • The protocol is also open to forming partnerships and providing token incentives to expand its reach and efficacy. Though thereโ€™s a risk of destabilization from excessive โ€˜whirlpoolโ€™ activities, the protocol counters this by directly passing fees to LPs and stakers, thereby boosting their incentives. For marketing and community engagement, the Invincible Node plans to leverage existing Klaytn protocol communities, conduct marketing through Telegram group chats, and establish dedicated Telegram and Twitter accounts for customer support and community interaction.

Key Differentiator:

  • The Invincible Nodeโ€™s strategy revolves around leveraging existing staking mechanisms (like sKlay) to create a more diverse and robust financial ecosystem within Klaytn. Unlike Klaystation, which offers a more traditional staking model, the Invincible Node focuses on broader liquidity management, risk mitigation, and ecosystem integration.

Hello. Thank you for the proposal.

I am writing this reply to share my thoughts and opinions. My opinions are based on the explanation given in this post. As this post provides only a partial explanation of the mechanism, please correct me if any of my opinions are based on a misunderstanding.

Concerns

1. Issues regarding making demands for Liquidity Pool

  • In the above structure, LPs (Liquidity Providers) who deposit Klay into the Liquidity pool give up their Klay staking rewards and, in return, receive some portion of $ILP, $INVI, and protocol fees. However, the number of LPs willing to accept this trade-off of giving up (relatively) stable staking rewards in favor of $INVI token rewards remains uncertain. Even if short-term $INVI rewards are higher than staking rewards, it will be difficult to prevent a decline in the price of $INVI tokens, making it challenging to create an attractive long-term reward structure for LPs.
  • Looking at the $INVI tokenomics, it appears that they are allocating 10% of the total supply as LP rewards. If we estimate the $INVI Fully Diluted Valuation (FDV) at $10 million, the total reward distribution would amount to $1 million. Assuming this is distributed over 5 years, it would be $200,000 per year. With an assumed APR of 10% for $INVI, it seems that the potential liquidity that can be attracted is limited to just $2 million. However, itโ€™s worth noting that during this process, there is a high likelihood of LPs exiting due to the lack of price support for $INVI.
  • As a result, the protocol will not likely to create sustainble demands for providing liquidity to the protocol. Considering that LPsโ€™ assets will be locked up depending on the leverage stakers request, there wonโ€™t be strong demands for providing KLAY as a liquidity to the protocol. (I think it is better to adopt interest rate model of AAVEs and Compounds to flexibly adjust utilization ratio of the pool depending on the market situation.)

2. Feasibility of protecting the floor price of INVI at 80% of KLAY

  • To maintain the floor price of the INVI token at 80% of KLAY, one of the following requirements are necessary:

    • A mechanism for the team to secure KLAY that can be provided to the DEX liquidity pool of INVI with volumes relative to the total supply of INVI tokens.
    • A mechanism to absorb INVI token supply based on price.

    These mechanisms require the team to continuously acquire enough KLAY from the protocol. However, based on the protocol description provided above, there is no indication that there will be such sufficient inflow of KLAY to guarantee the floor price of INVI.

  • In addition to that, since INVI is provided as a measure to liquidate Lockup position, it is highly probable that INVI would be continously sold in the market which leads to continuous decline in the price of INVI. We are not certain whether the team can manage to secure enough assets to absorb the INVI selling pressure with the mechanism explained above.

  • Even if the adjustment of INVI circulation is achieved through loan repayments, the uncertainty surrounding the ambiguity of the lending mechanism mentioned earlier raises questions about whether this mechanism will operate successfully.

3. Concerns about the demand for burning KLAY to issue more INVI

  • In the proposal, it is suggested that users should burn KLAY to receive more INVI tokens. We believe that there wonโ€™t be many users willing to engage in such an action. Unless they hold a significant long-term perspective on INVI tokens, there is no incentive for users to burn their collateral in order to acquire more INVI tokens.
  • According to the provided logic, the structure allows for an additional 10% of $INVI tokens (from 80% to 90%) if 20% of KLAY is burned. However, it is indeed unlikely that there will be significant demand for burning 20% of KLAY to gain only 10% more $INVI tokens. This seems to be an imbalanced incentive structure that may not attract many users.

When users burn n% of the NFTโ€™s value in Klay (0 < n <= 20), they receive up to [n/20 * 0.125 + 1] times more $INVI. (Maximum 90%)

4. The Ambiguity of the Mechanism 1: Interpretation of INVI Issuance

  • In the proposal, it is stated that NFTs are locked up and used as collateral to issue INVI tokens. The fact that NFTs are used as collateral, and the maximum issuance of INVI is determined relative to the collateral amount, suggests that the issuance of INVI is being interpreted as a form of lending or borrowing.
  • Considering factors such as the burning of KLAY within the NFT to enable the issuance of more INVI, it may not be appropriate to view this as a conventional lending practice. This is because reducing the amount of collateral while increasing the loan amount does not align with typical lending practices. (Although there is no risk of unredeemed debt since the borrowed asset is only to be staked and locked up, it is advisable to clarify the interpretationโ€ฆ)

Opinion

  • Sustainability: In simple terms, this project is providing zero interest costs for leverage staking (I expect that Invincible Node team will say that โ€˜lockup period will act as a costโ€™. However, given that there are tons of ways to short KLAY in the market, the cost from lockup period will be negligible.) for users. And the protocol rewards Liquidity Providers with interest coming from the staked KLAY and additional rewards in form of INVI. Sustainabiligy of such protocol highly depends on the sustainability of the protocolโ€™s token. As evidenced by numerous projects, such structure does not inherently provide price support for the project token and often faces challenges in sustaining its functionality.
  • Capital Efficiency: From the perspective of securing staking yield, the protocol explained above will have worse capital efficiency compared to that of creating a pool where users can deposit stKLAY and borrow KLAY in a lending protocol is unlikely to improve capital efficiency.
  • Protocol revenue: In LSD protocols, the capital efficiency directly links to the protocol revenue scale. However, as stated above, this protocol might have bad capital efficiency and would have low protocol revenue compared to its alternatives.

์•„์ง Docs๊ฐ€ ์™„์„ฑ๋˜์–ด์žˆ์ง€ ์•Š์€ ๊ฒƒ์œผ๋กœ ๋ณด์ด๊ณ  ์ด ํฌ์ŠคํŠธ์— ์ ํžŒ ๋‹จํŽธ์ ์ธ ์ •๋ณด๋“ค์„ ๋ฐ”ํƒ•์œผ๋กœ ๋“œ๋ฆฌ๋Š” ์˜๊ฒฌ์ž…๋‹ˆ๋‹ค. ํ˜น์‹œ ์ €ํฌ ์˜๊ฒฌ๋“ค์— ๋Œ€ํ•ด ์ž์„ธํžˆ ์–˜๊ธฐ๋‚˜๋ˆ„๊ณ  ์‹ถ๋‹ค๋ฉด ์ปคํ”ผ์ฑ— ํ˜น์€ ์ฝœํ•˜๋ฉด์„œ ์–˜๊ธฐ ๋‚˜๋ˆ ๋„ ์ข‹์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค.

์•ˆ๋…•ํ•˜์„ธ์š”, ์•„๋งˆ ํ•ด๋‹น ํ”„๋กœํฌ์ ˆ์— ์ ํ˜€ ์žˆ์ง€ ์•Š์€ ๋ถ€๋ถ„๋“ค๋กœ ์ธํ•œ ํ˜ผ๋ž€์ด ์žˆ์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๋ง์”€ํ•ด์ฃผ์‹  ์šฐ๋ ค๋˜๋Š” ๋ถ€๋ถ„๋“ค์€ ์ €ํฌ๋„ ๊นŠ์ด ๊ณต๊ฐํ•ฉ๋‹ˆ๋‹ค. ์™œ๋ƒํ•˜๋ฉด ์‹ค์ œ๋กœ ํŒ€์ด ๊ฐ€์žฅ ๋งŽ์ด ๊ณ ๋ฏผํ•œ ๋ถ€๋ถ„์ด INVI์— ๋Œ€ํ•œ ์ˆ˜์š”๋ฅผ ์–ด๋–ป๊ฒŒ ์ฐฝ์ถœํ• ์ง€, INVI์™€ Klay๊ฐ„ ๊ฐ€์น˜ ์ˆœํ™˜์ด ์–ด๋–ป๊ฒŒ ์ด๋ฃจ์–ด์ง€๋„๋ก ํ• ์ง€ ๋“ฑ์ด๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค.

์•„๋งˆ๋„ ์ €ํฌ ์ธก์˜ ์ถ”์ƒ์ ์ธ ์„œ์ˆ ๋กœ ์ธํ•ด ์ผ๋ถ€ ์‚ฌํ•ญ๋“ค์— ๋Œ€ํ•œ ์˜คํ•ด๊ฐ€ ์žˆ์œผ์…จ์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๋ง์”€ํ•ด์ฃผ์‹  ๋‚ด์šฉ๋“ค ์•ˆ์—์„œ๋Š” ๋Œ€ํ‘œ์ ์œผ๋กœ ์ด๋Ÿฐ ๊ฒƒ๋“ค์ด ์žˆ์„ ๊ฒƒ ๊ฐ™๊ณ , ํ•œ๋ฒˆ ๋” ์ด๋Ÿฌํ•œ ์ถ”์ƒ์  ๋ถ€๋ถ„๋“ค์„ ๊ณ ์น˜๊ณ  ์—…๋ฐ์ดํŠธ๋“œ๋ฆด ์ˆ˜ ์žˆ๋„๋ก ํ•ด๋ณด๊ฒ ์Šต๋‹ˆ๋‹ค. :slight_smile:

  • INVI์˜ price floor๊ฐ€ 80% ํด๋ ˆ์ด๊ฐ€ ๋œ๋‹ค - ๋ณ„๋„์˜ ํด๋ ˆ์ด ํ’€์„ ๋งˆ๋ จํ•˜๋Š” ๊ฒƒ์ด ์•„๋‹ˆ๋ผ, ํ”„๋กœํ† ์ฝœ ๋‚ด ๋ฝ์—…๋œ Klay์˜ ์ด ๊ฐ€์น˜๊ฐ€ INVI ๊ฐ€์น˜๋ฅผ ์ง€ํƒฑํ•œ๋‹ค๋Š” ์„œ์ˆ ์— ๊ฐ€๊น์Šต๋‹ˆ๋‹ค. INVI๋กœ ์Šคํ…Œ์ดํ‚น ํฌ์ง€์…˜ NFT๋ฅผ ์œ ๋™ํ™”ํ•  ๋•Œ 80% ๊ฐ€์น˜์˜ INVI๊นŒ์ง€๋ฐ–์— ๋Œ€์—ฌํ•˜์ง€ ๋ชปํ•˜๋ฏ€๋กœ, ๋ฐœํ–‰๋œ INVI๋Š” ์‚ฌ์‹ค์ƒ ํ”„๋กœํ† ์ฝœ์— ๋ฝ์—…๋œ ํด๋ ˆ์ดํŠผ ๊ฐ€์น˜์˜ ์•ฝ 80% ๋ฅผ ๋‹ด๋ณด์ž์‚ฐ์œผ๋กœ ๊ฐ€์ง€๊ฒŒ ๋ฉ๋‹ˆ๋‹ค. ๋งŒ์•ฝ ๋Œ€์—ฌ ์™ธ์˜ ๋ฐฉ์‹์œผ๋กœ ์‹œ์žฅ์— ํ’€๋ฆฌ๋Š” INVI๋ฅผ ๊ณ ๋ คํ•œ๋‹ค๋ฉด, price floor๋Š” ํฌ์„์œผ๋กœ ์ธํ•ด ๋” ๋‚ฎ์•„์งˆ ์ˆ˜ ์žˆ๊ฒ ์œผ๋‚˜, ์—ฌ์ „ํžˆ ํ”„๋กœํ† ์ฝœ ๋‚ด์— ๋“  ์ž์‚ฐ์˜ ๊ฐ€์น˜๊ฐ€ INVI ํ† ํฐ์˜ ๊ฐ€์น˜ backup์— ๋„์›€์„ ์ค€๋‹ค๊ณ  ์ƒ๊ฐํ•ฉ๋‹ˆ๋‹ค.

  • LPํ’€๊ณผ ๋‹ด๋ณด์— ๊ด€ํ•œ ๋ถ€๋ถ„: INVI์—์„œ LPํ’€์— ํด๋ ˆ์ด๋ฅผ ๊ณต๊ธ‰ํ•˜๋Š” ์‚ฌ๋žŒ๋“ค์€ ํด๋ ˆ์ด์˜ ํ˜„์žฌ๊ฐ€์น˜๋ณด๋‹ค ๋ฏธ๋ž˜๊ฐ€์น˜๊ฐ€ ๋” ๋†’์„ ๊ฒƒ์ด๋ผ๊ณ  ์ƒ๊ฐํ•˜๋Š” ์‚ฌ๋žŒ๋“ค, ๋˜๋Š” GC ๋…ธ๋“œ์ž…๋‹ˆ๋‹ค. ์ •ํ™•ํžˆ๋Š” ์œ ํœด ํด๋ ˆ์ด๋ฅผ ๋ฝ์—…ํ•˜๊ณ , INVI๋ฅผ ํš๋“ํ•˜๊ณ  ($ILP๋Š” ๋„ํ‘œ์—๋งŒ ๋‚˜์˜ค๋Š” ๊ฐœ๋…์ด๊ณ , ํ˜„์žฌ๋Š” ์‚ฌ์šฉํ•˜์ง€ ์•Š๋Š” ๊ฐœ๋…์œผ๋กœ ๋ณด์ž…๋‹ˆ๋‹ค. ๋„ํ‘œ๋ฅผ ์ˆ˜์ •ํ•˜๋„๋ก ํ•˜๊ฒ ์Šต๋‹ˆ๋‹ค. Outdate ๋œ ์ •๋ณด ์ฃ„์†กํ•ฉ๋‹ˆ๋‹ค.), ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ์˜ ์ผ๋ถ€๋ฅผ ํš๋“ํ•ฉ๋‹ˆ๋‹ค. ์ด๋“ค์€ ํด๋ ˆ์ดํŠผ ์œ ๋™์„ฑ์„ ๋ฝ์—…ํ•˜๋Š” ๋Œ€์‹ , INVI๋ฅผ ํ†ตํ•ด ๊ฐ„์ ‘์ ์œผ๋กœ ํ˜„์žฌ์˜ ํด๋ ˆ์ด ๊ฐ€์น˜ ์ผ๋ถ€๋ฅผ ๋‚˜๋ˆ„์–ด๋ฐ›์„ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ๋˜ํ•œ, ํ”„๋กœํ† ์ฝœ ์ˆ˜์ˆ˜๋ฃŒ๋กœ ์ œ๊ณต๋˜๋Š” ํด๋ ˆ์ด๋ฅผ ํ†ตํ•ด ๊ฐ„์ ‘์ ์œผ๋กœ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€์— ๊ณต๊ธ‰๋œ ๋ฌผ๋Ÿ‰์„ ๊ณ„์† ์œ ๋™ํ™”ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.
    ํ˜„์žฌ Invincible Node๋Š” ๋ ˆ๋ฒ„๋ฆฌ์ง€ ์‹œ ๋ณ„๋„์˜ ๋‹ด๋ณด๋ฅผ ์ œ๊ณตํ•˜์ง€ ์•Š์•„๋„ ๋˜๋Š” ์‹์œผ๋กœ ์„ค๊ณ„๋˜์–ด ์žˆ์ง€๋งŒ, ์ด๋Š” ํด๋ ˆ์ด๊ฐ€ ๋จผ์ € ์œ ์ € ์†Œ์œ ์˜ ์ง€๊ฐ‘์œผ๋กœ ์ด๋™ํ–ˆ๋‹ค๊ฐ€ ์Šคํ…Œ์ดํ‚น ํ”„๋กœํ† ์ฝœ๋กœ ์ด๋™ํ•˜๋Š” ๊ฒƒ์ด ์•„๋‹ˆ๋ผ, ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€์—์„œ ๋ฐ”๋กœ ์Šคํ…Œ์ดํ‚น ํ”„๋กœํ† ์ฝœ๋กœ ์ด๋™ํ•˜๋Š” ๋ฐฉ์‹์ž…๋‹ˆ๋‹ค. ๋งŒ์•ฝ ์œ ์ €๊ฐ€ ์ด๋ฅผ ๋˜์ฐพ์ง€ ๋ชปํ•˜๋ฉด ์œ ์ € ์†Œ์œ ์˜ ํด๋ ˆ์ด๋Š” ํ”„๋กœํ† ์ฝœ์˜ ์†Œ์œ ๋กœ ๋„˜์–ด์˜ค๊ณ , ๋งŒ์•ฝ ์œ ์ €๊ฐ€ ํ•„์ˆ˜ ๋ฝ์—… ๊ธฐ๊ฐ„ ์ดํ›„ ์ด๋ฅผ ๋˜์ฐพ๋Š”๋‹ค๋ฉด ๋ ˆ๋ฒ„๋ฆฌ์ง€ ์Šคํ…Œ์ดํ‚น๋˜์—ˆ๋˜ ๋ฌผ๋Ÿ‰์€ ๋‹ค์‹œ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€๋กœ ๋Œ์•„์˜ต๋‹ˆ๋‹ค.
    ์ง์ ‘์ ์œผ๋กœ ๋ฆฌํ€ด๋“œ ์Šคํ…Œ์ดํ‚น์„ ํ•˜๋Š” ๊ฒƒ์— ๋น„ํ•ด, ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€์— LP๋ฅผ ๊ณต๊ธ‰ํ•˜๋Š” ๊ฒƒ์€ ์ผ๋ถ€ ์ด์ž๋ฅผ ํฌ๊ธฐํ•˜๊ณ  ๋Œ€์‹  $INVI๋ฅผ ํš๋“ํ•˜๋Š” ๊ฒฐ๊ณผ๋กœ ์ด์–ด์ง‘๋‹ˆ๋‹ค. ๋Œ€์‹  LP ์ œ๊ณต์ž๋Š” ์ž์‹ ์ด ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€์— ์ œ๊ณตํ•œ ๋ฌผ๋Ÿ‰๋งŒ์ด ์•„๋‹ˆ๋ผ ์ „์ฒด ๊ฑฐ๋ž˜์•ก์˜ 2-20%์— ํ•ด๋‹นํ•˜๋Š” ํ”„๋กœํ† ์ฝœ ์ˆ˜์ต์˜ 25% - ์ฆ‰ ์ „์ฒด ์ด์ž์˜ 0.5-4%๋ฅผ ์ง€์†์ ์œผ๋กœ ํš๋“ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ๋˜ํ•œ, $INVI์˜ 10%๊ฐ€ ๋‹จ๊ณ„์ ์œผ๋กœ LP ๋ณด์ƒ์œผ๋กœ ์ฃผ์–ด์ง€๋ฏ€๋กœ ์ด๋ฅผ ์Šคํ…Œ์ดํ‚นํ•  ๊ฒฝ์šฐ ์ถ”๊ฐ€์ ์ธ ๋ณด์ƒ์„ ํš๋“ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

  • Klay ํ† ํฐ burn - collateral ์„ burn ํ•˜๋Š” ๊ฒƒ์ด ์•„๋‹ˆ๋ผ ์‹ ๊ทœ๋กœ Klay๋ฅผ ๊ฐ€์ ธ์™€์„œ burnํ•˜๋Š” ๊ฒƒ์ž…๋‹ˆ๋‹ค. ์ƒํƒœ๊ณ„ ๋‚ด์—์„œ ํด๋ ˆ์ด ๊ณต๊ธ‰๋Ÿ‰์„ ์ค„์ด๋Š” ํšจ๊ณผ๋ฅผ ๊ฐ€์ง€๋ฉฐ, ์ด๋ฅผ ํ†ตํ•ด ๋” ๋งŽ์€ INVI ๋ฅผ ๊ณต๊ธ‰๋ฐ›์„ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ๋ฐ˜๋Œ€๋กœ INVI๋ฅผ burnํ•  ๊ฒฝ์šฐ ๋” ํด๋ ˆ์ด ํ•„์ˆ˜ ๋ฝ์—… ๊ธฐ๊ฐ„์„ ์ค„์ผ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ๋”ฐ๋ผ์„œ ํด๋ ˆ์ด์˜ ์ƒ๋Œ€๊ฐ€์น˜๊ฐ€ ํด ๋•Œ๋Š” INVI๋ฅผ ๊ตฌ๋งคํ•ด burnํ•˜๋Š” ๊ฒƒ์ด ์ด๋“์ด๊ณ , INVI์˜ ์ƒ๋Œ€๊ฐ€์น˜๊ฐ€ ํด ๋•Œ๋Š” Klay๋ฅผ ๊ตฌ๋งคํ•ด burnํ•˜๋Š” ๊ฒƒ์ด ์ด๋“์ž…๋‹ˆ๋‹ค.

  • INVI์˜ 10%๊ฐ€ LP์—๊ฒŒ ์ฃผ์–ด์ง€๋ฏ€๋กœ ์ „์ฒด FDV์˜ 10% ์œ ๋™์„ฑ๋ฐ–์— ๋Œ์–ด๋ชจ์„ ์ˆ˜ ์—†๋‹ค - ๋จผ์ €, $10M์ด๋ผ๋Š” ์ˆซ์ž๊ฐ€ ์–ด๋””์„œ ๋‚˜์™”๋Š”์ง€ ์กฐ๊ธˆ ๊ถ๊ธˆํ•˜๊ธฐ๋„ ํ•˜์ง€๋งŒ(ํ˜น์‹œ ์ €ํฌ ๋‹ฅ์Šค ๋“ฑ์ด๋ผ๋ฉด, ์ฆ‰์‹œ ์ˆ˜์ • ์˜ˆ์ •์ž…๋‹ˆ๋‹ค.), ๊ธฐ๋ณธ์ ์œผ๋กœ LP๋ณด์ƒ์€ INVI์™€ Klay๋กœ ๊ตฌ์„ฑ๋˜๋ฉฐ, ์œ„์—์„œ ์„œ์ˆ ํ–ˆ๋“ฏ์ด ์ง€์†์ ์œผ๋กœ ํ”„๋กœํ† ์ฝœ ๋‚ด์—์„œ ๋ฐœ์ƒํ•˜๋Š” ์ด์ž์ˆ˜์ต์˜ ์ผ๋ถ€๋ฅผ ๊ฐ€์ ธ๊ฐ‘๋‹ˆ๋‹ค. ๋”ฐ๋ผ์„œ LP ๊ธˆ์•ก์— ์ œํ•œ์ด ์žˆ์ง€ ์•Š์Šต๋‹ˆ๋‹ค. ๋˜ํ•œ INVI๋Š” ๊ฐ€๊ฒฉ ํ•˜ํ•œ์„ ๊ฐ€์ง€๋„๋ก ์„ค๊ณ„๋˜์—ˆ์ง€, ๊ฐ€๊ฒฉ ์ƒํ•œ์„ ๊ฐ€์ง€๋„๋ก ์„ค๊ณ„๋˜์ง€๋Š” ์•Š์•˜์Šต๋‹ˆ๋‹ค. ์˜ˆ๋ฅผ ๋“ค์–ด Klay์˜ ์ƒ๋Œ€๊ฐ€์น˜๊ฐ€ ๋†’์„ ๋•Œ๋Š” INVI ์ˆ˜์š”๊ฐ€ ์ผ์‹œ์ ์œผ๋กœ ๋Š˜์–ด๋‚  ์ˆ˜ ์žˆ์œผ๋ฉฐ, INVI DAO์— ์ฐธ์—ฌํ•ด ๋ณด๋‹ค ์œ ๋ฆฌํ•œ ์ˆ˜์ˆ˜๋ฃŒ์œจ์„ ์ ์šฉํ•˜๊ณ ์ž ํ•  ์ˆ˜๋„ ์žˆ์Šต๋‹ˆ๋‹ค.

  • Klay๋ฅผ burnํ•ด์„œ Invi๋ฅผ ๋” ๊ฐ€์ ธ๊ฐ€๋Š” ๊ฒƒ์ด ์ „ํ†ต์ ์ธ ๋ Œ๋”ฉ ๋ฉ”์ปค๋‹ˆ์ฆ˜๊ณผ ๋งž์ง€ ์•Š๋‹ค - ๋งˆ์ฐฌ๊ฐ€์ง€๋กœ, ๋ฝ์—…๋œ ํด๋ ˆ์ด๋ฅผ burnํ•˜๋Š” ๊ฒƒ์ด ์•„๋‹™๋‹ˆ๋‹ค. ์—ฌ๊ธฐ์„œ ๋‹ด๋ณด๋Š” ์œ ์ €๊ฐ€ ์Šคํ…Œ์ดํ‚นํ•œ ํด๋ ˆ์ด์™€ ๋ ˆ๋ฒ„๋ฆฌ์ง€ํ•œ ํด๋ ˆ์ด๊ฐ€ ๋˜๋ฉฐ, ์œ ์ €๊ฐ€ NFT๋ฅผ ๋˜์ฐพ์•„๊ฐ€์ง€ ์•Š์•„๋„ ์ž์—ฐ์Šค๋Ÿฝ๊ฒŒ ๋ ˆ๋ฒ„๋ฆฌ์ง€ํ•œ ํด๋ ˆ์ด๊ฐ€ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€๋กœ ๋Œ์•„๊ฐ€๊ณ , ์œ ์ €๊ฐ€ ์Šคํ…Œ์ดํ‚นํ•œ ํด๋ ˆ์ด๋Š” ํ”„๋กœํ† ์ฝœ์˜ ์†Œ์œ ๊ฐ€ ๋ฉ๋‹ˆ๋‹ค.

์šฐ์„  ์œ„์— ์จ์ฃผ์‹  ๊ณ ๋ฏผ๋“ค ์ค‘ ํ•ต์‹ฌ์ ์ธ ๊ฒƒ๋“ค์— ๋Œ€ํ•ด ๋‹ต๋ณ€ ๋“œ๋ ธ๋Š”๋ฐ์š”,
๊ทธ ์™ธ์—๋„ ๋‹ฅ์Šค๋ฅผ ๋ฐ”๋กœ์žก๊ฑฐ๋‚˜, ์ถ”๊ฐ€์ ์ธ ์กฐ์–ธ์„ ํ†ตํ•ด ์ €ํฌ ํ”„๋กœํ† ์ฝœ์„ ๋” ๊ตณ๊ฑดํ•˜๊ฒŒ ๋งŒ๋“ค ์ˆ˜ ์žˆ๋Š” ๊ฒƒ์ด๋ผ๋ฉด ๋ฌด์—‡์ด๋“  ์ €ํฌ๋Š” ํ™˜์˜์ž…๋‹ˆ๋‹ค.

์ €ํฌ ์˜คํ”ผ์Šค๋Š” ๊ฐ•๋‚จ์—ญ ๊ทผ์ฒ˜์— ์žˆ๊ตฌ์š”, ์ปคํ”ผ์ฑ—์— ๊ต‰์žฅํžˆ ์—ด๋ ค ์žˆ์Šต๋‹ˆ๋‹ค.
ํ•œ๋ฒˆ ๋ต™๊ณ  ์ธ์‚ฌ๋“œ๋ฆด ์ˆ˜ ์žˆ์–ด๋„ ์ข‹์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๊ฐ์‚ฌํ•ฉ๋‹ˆ๋‹ค. :slight_smile:

์ž์„ธํ•œ ๋‹ต๋ณ€ ๊ฐ์‚ฌํ•ฉ๋‹ˆ๋‹ค. ์–ด๋–ค ์ƒ๊ฐ์œผ๋กœ ํ”„๋กœํ† ์ฝœ์„ ์„ค๊ณ„ํ•˜์…จ๋Š”์ง€ ํŒŒ์•…์ด ๋˜์—ˆ๋„ค์š”. ์ ์–ด์ฃผ์‹  ๋‚ด์šฉ๋“ค์— ๋Œ€ํ•ด์„œ ๋‹ต๋ณ€๋“œ๋ฆฌ๊ฒ ์Šต๋‹ˆ๋‹ค.

INVI ํ† ํฐ์˜ Floor Price ๊ด€๋ จ

ํ”„๋กœํ† ์ฝœ์— ๋ฝ์—…๋œ KLAY ๊ฐœ์ˆ˜ ๋Œ€๋น„ ๋ฐœํ–‰๋œ INVI ํ† ํฐ์˜ ๊ฐœ์ˆ˜๊ฐ€ 1:0.8์ด๋ผ๋Š” ์˜๋ฏธ๋กœ ์ฝํžˆ๋„ค์š” (KLAY ๋‹ด๋ณด๋Ÿ‰ ๋Œ€๋น„ํ•ด์„œ ๋ฐœํ–‰ํ•  ์ˆ˜ ์žˆ๋Š” INVI ํ† ํฐ ๊ฐœ์ˆ˜๊ฐ€ $ ๊ฐ€์น˜ ๊ธฐ์ค€์œผ๋กœ ์ •ํ•ด์ง€์ง€ ์•Š๋Š”๊ฒŒ ๋งž์ฃ ?). ์ด ์š”์†Œ ๋งŒ์œผ๋กœ๋Š” INVI ํ† ํฐ์˜ ๊ฐ€๊ฒฉ์„ KLAY ๋Œ€๋น„ 80% ์ˆ˜์ค€์œผ๋กœ ์ง€ํ‚ฌ ์ˆ˜ ์—†์Šต๋‹ˆ๋‹ค. ์ด์œ ๋Š” ์•„๋ž˜์™€ ๊ฐ™์Šต๋‹ˆ๋‹ค.

๊ฐ€๊ฒฉ ํŒจ๊น… ์š”์†Œ์˜ ๋ถ€์žฌ
์ผ๋ฐ˜์ ์œผ๋กœ ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ๊ณผ ๊ฐ™์ด ํ•œ ํ† ํฐ์˜ ๊ฐ€์น˜๋ฅผ (A ํ† ํฐ) ํƒ€ ํ† ํฐ์˜ ๊ฐ€์น˜์— (๋ชฉํ‘œ๊ฐ€) ํŒจ๊น…์„ ์‹œํ‚ฌ ๋•Œ ๋‹ค์Œ ์š”์†Œ ์ค‘ ํ•˜๋‚˜๊ฐ€ ํ•„์š”ํ•ฉ๋‹ˆ๋‹ค.

  • A ํ† ํฐ ๊ฐ€๊ฒฉ์ด ๋ชฉํ‘œ๊ฐ€ ์ดํ•˜๋กœ ๋–จ์–ด์กŒ์„๋•Œ ์‹œ์žฅ์—์„œ A ํ† ํฐ์„ ๋งค์ˆ˜ํ•˜๋„๋ก ํ•˜๋Š” ์••๋ ฅ์„ ๋ฐœ์ƒ์‹œ์ผœ์•ผ ํ•œ๋‹ค. MakerDAO DAI ๊ฐ™์€ ๊ฒฝ์šฐ์—๋Š” DAI ๋Œ€์ถœ์ž๋“ค์ด ์‹ผ ๊ฐ’์— DAI๋ฅผ ๊ตฌ๋งคํ•ด์„œ ์ž์‹ ์˜ ๋Œ€์ถœ์„ ์ƒํ™˜ํ•˜๋„๋ก ์œ ๋„ํ–ˆ๊ณ , Terra๋„ UST<>LUNA ์˜จ์ฒด์ธ ๋งˆ์ผ“์„ ํ†ตํ•ด์„œ ์ด๋ฅผ ์œ ๋„ํ–ˆ์Šต๋‹ˆ๋‹ค. INVI ํ† ํฐ์€ ์ƒํ™˜ ๋“ฑ์ด ์—†๋‹ค๋Š” ์ ์—์„œ ์ด๋Ÿฐ ํ–‰๋™์„ ์œ ๋„ํ• ๋งŒํ•œ ์š”์†Œ๊ฐ€ ์ „ํ˜€ ์—†์Šต๋‹ˆ๋‹ค.
  • A ํ† ํฐ์„ ๋ชฉํ‘œ๊ฐ€๋กœ ๊ตฌ๋งคํ•ด์ฃผ๋Š” ์œ ๋™์„ฑ์ด ์žˆ์–ด์•ผ ํ•œ๋‹ค. MakerDAO์˜ PSM์„ ๋– ์˜ฌ๋ฆฌ์‹œ๋ฉด ๋˜๊ณ , MakerDAO์—์„œ PSM์„ ํ†ตํ•ด DAI์™€ USDC๋ฅผ ์‚ฌ์‹ค์ƒ 1:1๋กœ ๊ตํ™˜ํ•ด์ฃผ๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค. ๊ทธ๋ฆฌ๊ณ  ์ด ๋•Œ๋ฌธ์— ์œ ์ €๋“ค์€ MakerDAO ์œ ์ €๋“ค์€ DAI ๊ฐ€๊ฒฉ์ด $1๋ณด๋‹ค ๋‚ฎ์•„์งˆ๋•Œ๋งˆ๋‹ค ์‹œ์žฅ์—์„œ DAI๋ฅผ ๊ตฌ๋งคํ•ด์„œ 1 USDC๋ฅผ ์‹ผ ๊ฐ’์— ํš๋“ํ•˜๊ณ ์š”. ํŠน์ • ํ† ํฐ์„ ํŠน์ •๊ฐ€์— ์‚ฌ์ฃผ๋ ค๊ณ  ํ•˜๋Š” ์œ ๋™์„ฑ์ด ์—†๋Š” ์ด์ƒ ๊ทธ ํ† ํฐ์— ๋Œ€ํ•œ ๋ฐ”๋‹ฅ๊ฐ€๋Š” ์ ˆ๋Œ€๋กœ ๋ชฉํ‘œ๊ฐ€๋กœ ํ˜•์„ฑ๋˜์ง€ ์•Š์Šต๋‹ˆ๋‹ค.

Invincible Node๋Š” ์œ„์—์„œ ์œ„์˜ ์š”์†Œ๋ฅผ ๊ฐ–์ถ”๊ธฐ๊ฐ€ ํž˜๋“  ๊ตฌ์กฐ์ž…๋‹ˆ๋‹ค. ์™œ๋ƒํ•˜๋ฉด ํ”„๋กœํ† ์ฝœ์— ๋ฝ์—…๋œ KLAY๋กœ INVI๋ฅผ ๊ตฌ๋งคํ•ด์„œ ๋ฐ”๋‹ฅ๊ฐ€๋ฅผ ๋งž์ถ”๋ ค๋ฉด 1) Invincible Node์— ๋ฝ์—…๋œ KLAY๋ฅผ ํ•ด์ œํ•˜๊ณ , 2) Klaytn์— ์Šคํ…Œ์ดํ‚น๋œ KLAY๋ฅผ ์–ธ์Šคํ…Œ์ดํ‚นํ•˜๊ณ  (์ด๊ฒƒ์กฐ์ฐจ๋„ ์–ธ์Šคํ…Œ์ดํ‚น ๊ธฐ๊ฐ„ ๋•Œ๋ฌธ์— ์ ˆ๋Œ€ ๋ฐ”๋กœ ๋ชป ์ฃ ), 3) ์ด KLAY๋กœ INVI๋ฅผ ๊ตฌ๋งคํ•ด์•ผ ํ•˜๋Š”๋ฐ ์ด๊ฒŒ ๋ถˆ๊ฐ€๋Šฅํ•œ ๊ตฌ์กฐ์ž…๋‹ˆ๋‹ค. LP ํ’€ + Leverage Staker๊ฐ€ ์˜ˆ์น˜ํ•œ KLAY ์ค‘ ์ผ๋ถ€๋ฅผ ์Šคํ…Œ์ดํ‚นํ•˜์ง€ ์•Š๊ณ  INVI์™€ 1:0.8 ๋น„์œจ๋กœ ๊ตํ™˜ํ•ด์ฃผ๋Š” ์œ ๋™์„ฑ์œผ๋กœ ์Ÿ์—ฌ๋‘˜ ์ˆ˜ ์žˆ๋‹ค๊ณ  ์ƒ๊ฐํ•  ์ˆ˜ ์žˆ๊ฒ ์ง€๋งŒ ์ด๋Š” Staker๋“ค์˜ ์Šคํ…Œ์ดํ‚น ์ˆ˜์ต์„ ๋‚ฎ์ถ”๊ฒŒ ๋ฉ๋‹ˆ๋‹ค.

์œ ๋™์„ฑ ํ’€์˜ ์ค‘์š”์„ฑ
๋‹ต๋ณ€์„ ๋ณด๋‹ˆ๊นŒ INVI ํ† ํฐ์˜ DEX ํ’€์— ๋Œ€ํ•œ ๊ณ ๋ ค๋Š” ์•ˆ ํ•˜์‹  ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ์œ„์—์„œ ์–˜๊ธฐํ–ˆ๋“ฏ์ด ํŠน์ • ํ† ํฐ์˜ ๋ฐ”๋‹ฅ๊ฐ€๋ฅผ ์ •ํ•˜๋ ค๋ฉด DEX๋“  ํ”„๋กœํ† ์ฝœ์—์„œ๋“  ๊ทธ ํ† ํฐ์„ ๋ฐ”๋‹ฅ๊ฐ€์— ๊ตฌ๋งคํ•ด์ฃผ๋ ค๋Š” ์œ ๋™์„ฑ์ด ๊ณ„์† ์กด์žฌํ•ด์•ผ ํ•ฉ๋‹ˆ๋‹ค. ๊ทผ๋ฐ ์œ„ ์š”์†Œ๋งŒ์œผ๋กœ๋Š” ๋ฐœํ–‰๋œ INVI ํ† ํฐ์„ ์ ์ • ๊ฐ€๊ฒฉ์— ๊ตฌ๋งคํ•ด์ฃผ๋ ค๊ณ  ํ•˜๋Š” ์˜จ์ฒด์ธ ์œ ๋™์„ฑ์ด ์ ˆ๋Œ€๋กœ ์ƒ๊ธธ ์ˆ˜๊ฐ€ ์—†์Šต๋‹ˆ๋‹ค. ํ”„๋กœํ† ์ฝœ ์ž…์žฅ์—์„œ INVI์— ์ œ๊ณตํ•  ์ˆ˜ ์žˆ๋Š” KLAY ์ž์‚ฐ๋“ค์€ ๋ชจ๋‘ ๋ฝ์—…๋˜์–ด์„œ ์Šคํ…Œ์ดํ‚น๋˜์–ด์žˆ๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค. ์‰ฝ๊ฒŒ ๋งํ•ด์„œ ๋ˆ„๊ตฐ๊ฐ€๊ฐ€ INVI๋ฅผ ๋Œ€๋Ÿ‰์œผ๋กœ ๋ฐœํ–‰ํ•ด์„œ DEX์— ๋คํ•‘ํ–ˆ์„๋•Œ ์ด ๋•Œ๋ฌธ์— ๋–จ์–ด์ง„ INVI ๊ฐ€๊ฒฉ์„ ๋ณต์›์‹œํ‚ค๊ธฐ ์œ„ํ•œ KLAY ์ž์‚ฐ์ด๋‚˜ ๋งค์ปค๋‹ˆ์ฆ˜์ด ์—†์Šต๋‹ˆ๋‹ค.
์ด ์ ์—์„œ ํ”„๋กœํ† ์ฝœ ๋ฝ์—…๋œ KLAY๋“ค์ด INVI ๊ฐ€๊ฒฉ์„ KLAY 80% ์ˆ˜์ค€์œผ๋กœ ์ง€ํƒฑํ•  ๊ฑฐ๋ผ๊ณ  ๊ธฐ๋Œ€ํ•˜๊ธฐ์—๋Š” ๊ทผ๊ฑฐ๊ฐ€ ๋ถ€์กฑํ•˜๋‹ค๊ณ  ์ƒ๊ฐํ•ฉ๋‹ˆ๋‹ค. ๋ฐ”๋‹ฅ๊ฐ€ ์„ค์ • ๋“ฑ๊ณผ ๊ด€๋ จํ•ด์„œ๋Š” ์ด๋ฏธ ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ๋“ค์—์„œ ๋ฐœํ–‰ํ•œ ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ ๊ทœ๋ชจ์— ๋น„๋ก€ํ•ด์„œ ์ปค๋ธŒ ๋“ฑ์—์„œ ์œ ๋™์„ฑ์„ ํ˜•์„ฑํ•˜๊ณ  ์žˆ๊ธฐ ๋•Œ๋ฌธ์— ๊ด€๋ จ ๋‚ด์šฉ๋“ค์„ ์ฐธ๊ณ ํ•˜์‹œ๋Š”๊ฒŒ ์ข‹์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค.

์ด ๋‚ด์šฉ์€ Invincible Node์— ์œ ๋ฆฌํ•  ์ˆ˜ ์žˆ๋Š” ๋‚ด์šฉ์ธ๋ฐ INVI ๊ฐ€๊ฒฉ์„ KLAY์˜ 80% ์ˆ˜์ค€์œผ๋กœ ๋งž์ถ”๊ธฐ ์œ„ํ•ด์„œ ๋ฐœํ–‰๋œ INVI ๊ฐœ์ˆ˜ ๋Œ€๋น„ํ•ด์„œ KLAY ๊ฐœ์ˆ˜๋ฅผ ๊ผญ 80% ์ •๋„ ๋ณด์œ ํ•ด์•ผ ํ•˜๋Š” ๊ฒƒ์€ ์•„๋‹™๋‹ˆ๋‹ค. ์ปค๋ธŒ ํ’€์„ ํ†ตํ•ด์„œ ์œ ๋™์„ฑ์„ ๊ทน๋Œ€ํ™”์‹œ์ผœ๋†“์œผ๋ฉด ํ’€์— ๋“ค์–ด๊ฐ€์žˆ๋Š” ํ† ํฐ ๊ฐœ์ˆ˜ ๋น„์œจ๊ณผ ํฐ ์ƒ๊ด€์—†์ด 1:1 ๊ตํ™˜ ๋น„์œจ์„ ์œ ์ง€ํ•  ์ˆ˜ ์žˆ๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค. ์ด๋ฅผ ์ด์šฉํ•˜๋ฉด ํŒ€ ์ž…์žฅ์—์„œ ์œ ๋™์„ฑ ๊ณต๊ธ‰ ๋ชฉ์ ์œผ๋กœ ์Ÿ์—ฌ๋‘ฌ์•ผํ•  KLAY ์ˆ˜๋ฅผ ์ค„์ผ ์ˆ˜๋Š” ์žˆ์Šต๋‹ˆ๋‹ค. (๋‹ค๋งŒ ์ด ๊ฒฝ์šฐ์—๋„ KLAY๋กœ ๋ณดํ˜ธ ๊ฐ€๋Šฅํ•œ INVI ํ† ํฐ์˜ ๊ฐœ์ˆ˜๋Š” ํ’€์— ๋“ค์–ด๊ฐ€ ์žˆ๋Š” KLAY ๊ฐœ์ˆ˜์— ์˜ํ–ฅ์„ ๋ฐ›๊ธด ํ•ฉ๋‹ˆ๋‹ค. ํ’€ ๋‚ด์— KLAY๊ฐ€ ๊ณ ๊ฐˆ๋˜๋ฉด INVI๋ฅผ ๋งค์ˆ˜ํ•ด์ค„ KLAY ์ž์ฒด๊ฐ€ ์—†์–ด์ง€๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค)

์ƒ๊ฐํ•ด๋ณด๋‹ˆ Floor Price์— ๋Œ€ํ•œ ์ฃผ์žฅ ์ž์ฒด๋„ ๋‹ค์‹œ ํ™•์ธํ•˜์…”์•ผ ํ•˜๋Š”๊ฒŒ ๋ฐœํ–‰๋œ INVI ๊ฐœ์ˆ˜๊ฐ€ ํ”„๋กœํ† ์ฝœ์ด ๋ณด์œ ํ•œ KLAY ๋Œ€๋น„ํ•ด์„œ 80%์ด๊ธฐ ๋•Œ๋ฌธ์— INVI์˜ Floor Price๋Š” 1/0.8 KLAY๋กœ ์žก์•„์•ผ ํ•˜๋Š”๊ฑฐ ์•„๋‹Œ๊ฐ€ ์‹ถ๊ธด ํ•˜๋„ค์š”)

์ •๋ง๋กœ ๋ฐœํ–‰๋œ INVI ๋Œ€๋น„ 80%์˜ KLAY๊ฐ€ ์Œ“์ผ ๊ฒƒ์ธ๊ฐ€
์ด ๋ถ€๋ถ„์— ๋Œ€ํ•ด์„œ๋„ ํšŒ์˜์ ์ธ๊ฒŒ ์ด๋ฏธ KLAY๋ฅผ ์†Œ๊ฐ์‹œ์ผœ์„œ INVI๋ฅผ ๋” ๋ฐœํ–‰ํ•˜๋Š” ๋งค์ปค๋‹ˆ์ฆ˜์ด ์žˆ๊ณ , LP ๋ณด์ƒ ๋“ฑ์„ ์ด์œ ๋กœ INVI๊ฐ€ KLAY์— ๋น„ํ•ด์„œ ๋” ๋งŽ์ด ๋ฐœํ–‰๋˜๋Š” ๊ตฌ์กฐ์ž…๋‹ˆ๋‹ค. ์ด ๋•Œ๋ฌธ์— ์ ˆ๋Œ€ ๊ฐœ์ˆ˜๋กœ ๋”ฐ์กŒ์„ ๋•Œ๋„ Floor Price๋ฅผ ์ง€ํƒฑํ• ๋งŒํ•œ ์ถฉ๋ถ„ํ•œ KLAY๊ฐ€ ์Œ“์ด์ง€ ์•Š์„ ๊ฐ€๋Šฅ์„ฑ์ด ๋†’์Šต๋‹ˆ๋‹ค.

LP ํ’€๊ณผ ๋‹ด๋ณด์— ๊ด€ํ•œ ๋ถ€๋ถ„

LP ํ’€์— KLAY๋ฅผ ์˜ˆ์น˜ํ•˜๋Š” ์‚ฌ๋žŒ๋“ค์„ KLAY ์Šคํ…Œ์ดํ‚น์€ ์•ˆ ํ•˜๊ณ  ๋‹จ์ˆœํžˆ KLAY์— ๋Œ€ํ•œ ๋กฑ ํฌ์ง€์…˜์„ ๊ฐ€์ ธ๊ฐ€๋ ค๊ณ  ํ•˜๋Š” ์‚ฌ๋žŒ๋งŒ ๊ณ ๋ คํ•˜์‹  ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๊ทธ๋ ‡์ง€ ์•Š๊ณ ์„œ์•ผ ๋ณธ์ธ์˜ KLAY๋ฅผ Klaystation ๋“ฑ์„ ํ†ตํ•ด์„œ ์Šคํ…Œ์ดํ‚นํ•˜๊ณ  KLAY๋กœ ๋œ ์ด์ž๋ฅผ ๋ฐ›๋Š”๊ฒŒ ๋‚ซ์ง€, ์‹œ์žฅ์—์„œ ์ ์ • ๊ฐ€๊ฒฉ์— ํŒ”๋ฆด์ง€๋„ ๋ชจ๋ฅด๋Š” INVI๋ฅผ ์œ„ํ•ด์„œ ๋ณธ์ธ์˜ ํ† ํฐ์„ ๋ฝ์—… ํ˜•ํƒœ๋กœ Invincible Node์— ๋ฌถ์–ด๋‘๋ฉด์„œ๊นŒ์ง€ (์ด๊ฑด Leverage Staker์˜ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๊ณผ์ •์—์„œ ๋ฝ์—…๋˜๋Š” ๊ฒƒ์ด๊ธด ํ•˜์ง€๋งŒ) LP ํ’€์— KLAY๋ฅผ ์ œ๊ณตํ•˜์ง€ ์•Š์„ ๊ฒƒ์ด๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค.

LP ํ’€ ์˜ˆ์น˜ ์ˆ˜์š” ์ด์Šˆ
KLAY์— ๋กฑ ํฌ์ง€์…˜์„ ๊ฐ€์ง€๊ณ  ์žˆ๋Š” ์‚ฌ๋žŒ์ด ๋งŽ๋‹ค๊ณ  ํ•˜๋”๋ผ๋„ ํ† ํฐ ๋ณด์œ ์ž ์ž…์žฅ์—์„œ ๋” ์ค‘์š”ํ•œ ๊ฒƒ์€ ๋ณธ์ธ์ด KLAY๋ฅผ ํŒ”๊ณ  ์‹ถ์„ ๋•Œ KLAY๋ฅผ ํŒ๋งคํ•  ์ˆ˜ ์žˆ์„์ง€ ์ž…๋‹ˆ๋‹ค. Invincible Node์— ์˜ˆ์น˜ํ•  ๊ฒฝ์šฐ์—๋Š” Leverage Staker๋“ค์˜ ์ƒํƒœ์— ๋”ฐ๋ผ KLAY๊ฐ€ ๋ฝ์—…์ด ๋˜๊ธฐ ๋•Œ๋ฌธ์— ์ด๊ฒƒ์ด ๋ถˆ๊ฐ€๋Šฅํ•ด์ง‘๋‹ˆ๋‹ค.
์ด๋Ÿฐ ๋ชจ๋“  ์œ„ํ—˜์„ ๊ฐ์ˆ˜ํ•˜๊ณ ์„œ KLAY๋ฅผ LP ํ’€์— ๋„ฃ๊ธฐ ์œ„ํ•ด์„œ๋Š” INVI ํ† ํฐ์— ๋Œ€ํ•œ ํ™•์‹คํ•œ ์ƒ์Šน ์ „๋ง์ด ์žˆ์–ด์•ผ ํ•˜๋Š”๋ฐ ์œ„์—์„œ ์–ธ๊ธ‰ํ–ˆ๋“ฏ INVI ๊ฐ€๊ฒฉ์„ ๋ณดํ˜ธํ•˜๊ธฐ ์œ„ํ•œ ์ˆ˜๋‹จ์ด ์ „ํ˜€ ์—†๊ธฐ ๋•Œ๋ฌธ์— ์ด๋ฅผ ํ†ตํ•ด์„œ๋Š” ์ง€์†์ ์ธ ์ˆ˜์š”๋ฅผ ์ ˆ๋Œ€ ๋งŒ๋“ค ์ˆ˜ ์—†์Šต๋‹ˆ๋‹ค. ์ด์ „ ๊ณก๊ดญ์ด ํ† ํฐ๋“ค์˜ ์‚ฌ๋ก€์™€ ๋งˆ์ฐฌ๊ฐ€์ง€๋กœ ์ดˆ๋ฐ˜ ๋ฉฐ์น  ์ดํ›„์—๋Š” LP ํ’€ ์˜ˆ์น˜์— ๋Œ€ํ•œ ์ˆ˜์š”๋Š” ์—†์„ ๊ฒ๋‹ˆ๋‹ค.

Klay ํ† ํฐ burn

์ด ๋ถ€๋ถ„์€ ์ œ๊ฐ€ ์ดํ•ดํ–ˆ๋˜ ๊ฑฐ์™€๋Š” ๋‹ค๋ฅด๋„ค์š”. ๊ทธ๋Ÿผ INVI๋ฅผ ๋” ๋ฐœํ–‰ํ•˜๊ฑฐ๋‚˜ ๋ฝ์—… ๊ธฐ๊ฐ„์„ ์ค„์ด๊ธฐ ์œ„ํ•ด์„œ KLAY๋ฅผ ๋” ๊ฐ€์ ธ์™€์„œ ๊ทธ๊ฒƒ์„ Burn ์‹œํ‚จ๋‹ค๋Š” ๊ฑฐ์ฃ . ์ด๋•Œ ๊ฐ€์ ธ์™€์•ผ ํ•˜๋Š” KLAY ์–‘๊ณผ ๊ฑฐ๊ธฐ์„œ ์†Œ๊ฐ๋˜๋Š” KLAY์˜ ๋น„์œจ๋„ ์ค‘์š”ํ•˜๊ฒ ๋„ค์š”. ๊ทธ๋ฆฌ๊ณ  INVI์™€ KLAY ์–‘๋ฐฉํ–ฅ์˜ ์†Œ๊ฐ์„ ํ†ตํ•ด์„œ ๊ฐ€๊ฒฉ์— ๋”ฐ๋ฅธ INVI์— ๋Œ€ํ•œ ์ˆ˜์š”๋„ ์–ด๋Š์ •๋„ ์‹ ๊ฒฝ์“ฐ์‹  ๊ฒƒ๋„ ํ™•์ธํ–ˆ์Šต๋‹ˆ๋‹ค.
๋‹ค๋งŒ ์ด ๋ถ€๋ถ„ ๋งŒ์œผ๋กœ๋Š” ์œ ์ €๋“ค์ด Burn์— ์–ผ๋งˆ๋‚˜ ์ฐธ์—ฌํ•  ์ง€ ์˜๋ฌธ์ž…๋‹ˆ๋‹ค. MakerDAO๋„ ์ดˆ์ฐฝ๊ธฐ์—๋Š” DAI ๊ฐ€๊ฒฉ์ด ์˜ฌ๋ž์„๋•Œ DAI ๋ฐœํ–‰๋Ÿ‰์„ ๋Š˜๋ฆฌ๋„๋ก ์œ ๋„ํ•˜๋ ค๊ณ  ํ•˜์˜€์ง€๋งŒ, ์ด ๋•Œ๋Šฅ DAI ๋ฐœํ–‰์ž (๋Œ€์ถœ์ž) ์ž…์žฅ์—์„œ๋Š” DAI ๋ฐœํ–‰์„ ํ†ตํ•ด ์–ป์„ ์ˆ˜ ์žˆ๋Š” ์ˆ˜์ต์ด ์ฆ‰์‹œ์ ์œผ๋กœ ๋“ค์–ด์˜ค์ง€ ์•Š์•˜๊ธฐ ๋•Œ๋ฌธ์— ์ด ๊ณผ์ •์— ์ฐธ์—ฌํ•œ ์œ ์ €๋“ค์ด ์—†์—ˆ๊ณ , DAI ๊ฐ€๊ฒฉ์ด $1 ์ด์ƒ์„ ์œ ์ง€ํ–ˆ์Šต๋‹ˆ๋‹ค. ์ดํ›„์— PSM์„ ํ†ตํ•ด ์ฐจ์ต ๊ฑฐ๋ž˜์ž๋“ค์ด ์ฆ‰์‹œ์ ์œผ๋กœ ์ˆ˜์ต์„ ์–ป์„ ์ˆ˜ ์žˆ๊ฒŒ ํ•˜๊ณ  ๋‚˜์„œ์•ผ DAI ๊ฐ€๊ฒฉ์„ $1๋กœ ๋‚ฎ์ถœ ์ˆ˜ ์žˆ์—ˆ์Šต๋‹ˆ๋‹ค. Invincible Node๋„ ๋งˆ์ฐฌ๊ฐ€์ง€๋กœ Lockup์„ ์ค„์—ฌ์ฃผ๋Š” ํšจ๊ณผ๊ฐ€ ์žˆ๋‹ค๊ณ  ํ•ด๋„, ๋ฝ์—…์ด ์ฆ‰์‹œ ํ’€๋ฆฌ์ง€ ์•Š๋Š” ์ด์ƒ ๋ณธ์ธ์˜ ํ† ํฐ์„ ์†Œ๊ฐ์‹œํ‚ค๋ฉด์„œ๊นŒ์ง€ ๋ฝ์—…์„ ์ค„์ด๋ ค๊ณ  ํ•˜๋Š” ์œ ์ €๋“ค์€ ๋งŽ์ง€ ์•Š์„๊ฒ๋‹ˆ๋‹ค (์ฆ‰, ๋น„์šฉ ๋Œ€๋น„ ์–ป์„ ์ˆ˜ ์žˆ๋Š” ๊ฐ€์น˜๊ฐ€ ๋„ˆ๋ฌด ๋ถˆ๋ถ„๋ช…ํ•ฉ๋‹ˆ๋‹ค).

INVI ์ค‘ LP ๋ฌผ๋Ÿ‰

FDV๋Š” Lending์ด๋ผ๋Š” ์ ์—์„œ ๊ทธ๋‚˜๋งˆ ๋น„์Šทํ•˜๋‹ค๊ณ  ๋ด์•ผํ•˜๋Š” KLEVA์˜ FDV๋ฅผ ์ฐธ๊ณ ํ•˜์˜€์Šต๋‹ˆ๋‹ค. (์†”์งํ•˜๊ฒŒ ๋งํ•ด์„œ ์ดˆ๊ธฐ ๋ช‡ ๋‹ฌ ์ดํ›„๋ถ€ํ„ฐ๋Š” KLEVA ๋ณด๋‹ค FDV๊ฐ€ ๋†’์„๊ฑฐ๋ผ๊ณ  ์žฅ๋‹ดํ•  ์ˆ˜๋„ ์—†์Šต๋‹ˆ๋‹ค.) ์ด ๋ถ€๋ถ„์€ ๋‹จ์ˆœํ•œ ๊ฐ€์ • ํ•˜์—์„œ INVI ๋งŒ์œผ๋กœ ์–ผ๋งˆ๋งŒํผ์˜ LP๋ฅผ ๋Œ์–ด๋“ค์ผ ์ˆ˜ ์žˆ์„์ง€ ์˜ˆ์ƒํ•ด๋ณธ ๊ฒƒ์ด๊ธฐ ๋•Œ๋ฌธ์— ์ฐธ๊ณ ๋งŒ ํ•ด์ฃผ์…”๋„ ์ข‹์Šต๋‹ˆ๋‹ค.
์ด ๋ถ€๋ถ„์—์„œ๋„ KLAY ์Šคํ…Œ์ดํ‚น ์ด์ž ์ค‘ ์ผ๋ถ€๋ฅผ ์ค€๋‹ค๊ณ  ์–˜๊ธฐํ•˜์‹œ๋Š”๋ฐ ์–ด์ฐŒ๋˜์—ˆ๋“  KLAY ์Šคํ…Œ์ดํ‚นํ•˜๋Š” ์‚ฌ๋žŒ๋“ค์— ๋น„ํ•ด์„œ๋Š” KLAY๋กœ ์ฐํžˆ๋Š” ์ด์ž์œจ์ด ๋‚ฎ์•„์งˆ ์ˆ˜ ๋ฐ–์— ์—†๊ณ  INVI ๊ฐ€๊ฒฉ ์ƒ์Šน์— ์˜์กดํ•  ์ˆ˜ ๋ฐ–์— ์—†๋‹ค๋Š” ๊ฒƒ์€ ๋ณ€ํ•˜์ง€ ์•Š์Šต๋‹ˆ๋‹ค. ๊ทธ๋ฆฌ๊ณ  INVI ์ˆ˜์š”๊ฐ€ ์ฆ๊ฐ€ํ•  ์ˆ˜ ์žˆ๋‹ค๋Š” ๊ฐ€์ • ํ•˜์— ๋งŒ๋“  ์ธ์„ผํ‹ฐ๋ธŒ ์‹œ์Šคํ…œ์€ ์œ ์ง€๊ฐ€ ๋  ์ˆ˜ ์—†์Šต๋‹ˆ๋‹ค.

์˜๊ฒฌ

์ด ๊ตฌ์กฐ์—์„œ๋Š” LP ํ’€์— KLAY๋ฅผ ์˜ˆ์น˜ํ•˜๋Š” ์œ ์ €๊ฐ€ ๊พธ์ค€ํžˆ ์žˆ์–ด์•ผ ์ด KLAY๋กœ Leverage Staking์ด ๊ฐ€๋Šฅํ•ฉ๋‹ˆ๋‹ค. ํ•˜์ง€๋งŒ ๊ทธ์— ๋น„ํ•ด์„œ LP ํ’€์— KLAY๋ฅผ ์˜ˆ์น˜ํ• ๋งŒํ•œ ์ˆ˜์š”๋Š” ์ง€์†ํ•˜์ง€ ์•Š์„ ๊ฒƒ์œผ๋กœ ๋ณด์ž…๋‹ˆ๋‹ค. ์ด ์ œ์•ˆ์„œ๋ฅผ ํ†ตํ•ด์„œ KLAY๋ฅผ ์ง€์›๋ฐ›์•„์„œ ๊ทธ๊ฒƒ์„ ์ดˆ๊ธฐ LP๋กœ ํ™œ์šฉํ•˜๋Š” ๊ฒƒ์— ๋Œ€ํ•ด์„œ๋„ ํšŒ์˜์ ์ž…๋‹ˆ๋‹ค. ์™œ๋ƒํ•˜๋ฉด ํ˜„์žฌ ๊ตฌ์กฐ์—์„œ๋Š” Leverage Staker์—๊ฒŒ ๋ฝ์—… ๊ธฐ๊ฐ„ ์ด์™ธ์—๋Š” ํ”„๋กœํ† ์ฝœ ์ƒํƒœ์— ๋”ฐ๋ฅธ ๋ ˆ๋ฒ„๋ฆฌ์ง€์— ๋Œ€ํ•ด ์–ด๋–ค ๋น„์šฉ๋„ ๋ถ€๊ณผ๊ฐ€ ์•ˆ ๋˜๊ณ  ์žˆ๊ณ , LP ํ’€์— $200K ๊ฐ€์น˜์˜ KLAY๋ฅผ ์ง€์›๋ฐ›์•˜์„๋•Œ ์œ ์ € ์ž…์žฅ์—์„œ๋Š” ๊ทธ ๋ฌผ๋Ÿ‰์„ ์ตœ๋Œ€ํ•œ ๋นจ๋ฆฌ ๋งŽ์ด exploitํ•ด์„œ ๋ ˆ๋ฒ„๋ฆฌ์ง€ํ•˜๋Š”๊ฒŒ ๋ฌด์กฐ๊ฑด ์œ ๋ฆฌํ•˜๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค. ์ด ์„œ๋น„์Šค๊ฐ€ ์ง€์†ํ•˜๊ธฐ ์œ„ํ•ด์„œ๋Š” ํ”„๋กœํ† ์ฝœ ์ƒํ™ฉ์— ๋”ฐ๋ผ Leverage Staker์—๊ฒŒ ๋น„์šฉ์ด ๋” ๋ถ€๊ณผ๋˜๊ณ  LP์—๊ฒŒ๋Š” ๋ณด์ƒ์ด ๋” ๊ฐ€๋Š” ๋งค์ปค๋‹ˆ์ฆ˜์ด ํ•„์ˆ˜์ ์ž…๋‹ˆ๋‹ค. ํ˜„์žฌ ๊ตฌ์กฐ๋กœ๋Š” ๋ถ€์กฑํ•ด๋ณด์ด๊ณ ์š”.

Lano Technology ์†Œ๊ฐœ

์ €ํฌ๊ฐ€ ํšŒ์‚ฌ ์†Œ๊ฐœ๋ฅผ ์•ˆ ๋“œ๋ ธ๋Š”๋ฐ ์•„๋ž˜ ๋งํฌ ํ™•์ธํ•ด์ฃผ์‹œ๋ฉด ๊ฐ์‚ฌํ•˜๊ฒ ์Šต๋‹ˆ๋‹ค. ์‹œ์ž‘ํ•œ์ง€ 3-4๋‹ฌ ๋œ ํŒ€์ด๊ณ  ๋””ํŒŒ์ด ํ”„๋กœํ† ์ฝœ ์„ค๊ณ„, ํ† ํฌ๋…ธ๋ฏน์Šค ์„ค๊ณ„, ์ƒํƒœ๊ณ„ ์ปจ์„คํŒ… ๋“ฑ์„ ์ง„ํ–‰ํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.

์ž˜ ์ฝ์–ด๋ณด๊ฒ ์Šต๋‹ˆ๋‹ค! ๋‹ค๋งŒ Klay์™€ Invi์˜ ๊ฐœ์ˆ˜๋น„๊ฐ€ ์•„๋‹Œ ๊ฐ€๊ฒฉ๋น„์ž…๋‹ˆ๋‹ค :slight_smile: ๊ทธ๋ž˜์„œ ๊ฐœ์ˆ˜๋น„๋ฅผ ์ „์ œ๋กœ ๋ง์”€ํ•ด์ฃผ์‹  ๊ฒƒ๋“ค์€ ์‹ค์ œ ํ”„๋กœํ† ์ฝœ์—์„œ ์ž‘๋™ํ•˜๋Š” ์ฝ”๋“œ์™€๋Š” ๋‹ค๋ฅธ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค.
์ฃผ์‹  ํšŒ์‚ฌ์†Œ๊ฐœ์„œ๋„ ํ™•์ธํ•ด๋ณด๊ฒ ์Šต๋‹ˆ๋‹ค!

๊ทธ๋ฆฌ๊ณ  ๋Œ“๊ธ€์—์„œ Klay ์ง€์›์„ ํ†ตํ•ด ์ดˆ๊ธฐ LP๋กœ ํ™œ์šฉํ•˜์ง€ ์•Š๊ณ , ์˜ค๋”ง ๋น„์šฉ๋งŒ ์ง€๋ถˆํ•  ์ˆ˜ ์žˆ์–ด๋„ ๋œ๋‹ค๊ณ  ๋ช…์‹œ๋“œ๋ ธ์Šต๋‹ˆ๋‹ค! ์›๋ณธ ๊ธ€ ์ˆ˜์ •์ด ๋˜์ง€ ์•Š์•„ ๋ณด์‹œ๊ธฐ ์–ด๋ ค์šฐ์…จ์„ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๋‹ค๋งŒ ์ €ํฌ๋Š” ์ดˆ๊ธฐ ํด๋ ˆ์ด๋ฅผ ์ง€์›๋ฐ›์•„ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ํ’€์— ๋„ฃ๋Š” ๊ฒƒ์€ ๊ฐ€๋Šฅํ•˜๋ฉด ์ข‹๋‹ค ์ •๋„๋กœ ๋ฐ›๊ณ  ์žˆ๊ตฌ์š”, ์•„๋งˆ ํ™•์ธํ•˜์…จ๊ฒ ์ง€๋งŒ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋ฌผ๋Ÿ‰์ด ๋Š˜์–ด๋‚ ์ˆ˜๋ก ํ”„๋กœํ† ์ฝœ์— ์ง€๋ถˆํ•ด์•ผ ํ•˜๋Š” ์ˆ˜์ˆ˜๋ฃŒ๊ฐ€ ๋Š˜์–ด๋‚˜๋ฉฐ, ์ตœ๋Œ€ ๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋น„์œจ์ด ์ •ํ•ด์ ธ ์žˆ๊ธฐ ๋•Œ๋ฌธ์— ์ผ๋ฐฉ์ ์ธ exploit ์ด ํž˜๋“  ๊ตฌ์กฐ์ž…๋‹ˆ๋‹ค. :slight_smile: ๋‚˜๋จธ์ง€๋„ ํ™•์ธ ํ›„ ๋‹ต๋ณ€ ๋“œ๋ฆฌ๋„๋ก ํ•˜๊ฒ ์Šต๋‹ˆ๋‹ค! ํ•ฉ๋ฆฌ์ ์ธ ์ „์ œ๋“ค์„ ๊ฐ€์ง€๊ณ  ๋ง์”€ํ•ด์ฃผ์…”์„œ ์ €ํฌ๋„ ์–ด๋–ค ์„œ์ˆ ์ด ์ถ”์ƒ์ ์ด์—ˆ๊ณ , ๋”ฐ๋ผ์„œ ์–ด๋–ค ๋‚ด์šฉ์„ ์–ด๋–ค ํ‘œํ˜„์œผ๋กœ ๋ณด๊ฐ•ํ•ด์•ผ ํ•˜๋Š”์ง€ ์•Œ ์ˆ˜ ์žˆ์—ˆ๋˜ ๊ฒƒ ๊ฐ™์Šต๋‹ˆ๋‹ค. ๊ฐ์‚ฌํ•ฉ๋‹ˆ๋‹ค.

๊ฐœ์ˆ˜๋น„๋กœ ์–˜๊ธฐํ•œ ๊ฒƒ์€ ์–ธ๊ธ‰ํ•ด์ฃผ์‹  ๋ฝ์—…๋œ KLAY๋กœ INVI์˜ Floor Price๋ฅผ 0.8 ์ˆ˜์ค€์œผ๋กœ ์ง€ํ‚ค๊ธฐ ์œ„ํ•ด์„œ๋Š” ํ”„๋กœํ† ์ฝœ์ด ๋ณด์œ ํ•œ KLAY ๊ฐœ์ˆ˜์™€ ๋ฐœํ–‰๋œ INVI์˜ ๊ฐœ์ˆ˜์˜ ๋น„์œจ์ด ์œ ์ง€๋˜์–ด์•ผ ํ•œ๋‹ค๋Š” ์ ์—์„œ ์ถ”์ธกํ•œ ๊ฒ๋‹ˆ๋‹ค. ๊ทธ๋Ÿฌ์ง€ ์•Š๊ณ ์„œ์•ผ ์ฒซ ๋Œ“๊ธ€์— ๋‹ฌ์•„์ฃผ์‹  Floor Price์— ๋Œ€ํ•œ ๋…ผ๋ฆฌ๊ฐ€ ์„ฑ๋ฆฝํ•˜์ง€ ์•Š๊ธฐ ๋•Œ๋ฌธ์ž…๋‹ˆ๋‹ค. ๋‹น์—ฐํžˆ ๋Œ€๋ถ€๋ถ„์˜ ์„œ๋น„์Šค๋“ค์—์„œ๋Š” ๊ฐ€์น˜๋ฅผ ๊ธฐ์ค€์œผ๋กœ ๋Œ€์ถœ ๊ฐ€๋Šฅ๋Ÿ‰์ด ์ •ํ•ด์ง‘๋‹ˆ๋‹ค. (๋ฌผ๋ก  MakerDAO์˜ PSM์™€ ๊ฐ™์€ ๊ฒฝ์šฐ์—๋Š” ์‚ฌ์‹ค์ƒ ๊ฐœ์ˆ˜ ๊ธฐ์ค€์œผ๋กœ 1:1 ๊ตํ™˜์„ ํ•ด์ฃผ์ง€๋งŒ์š”).

๋ ˆ๋ฒ„๋ฆฌ์ง€ ๋น„์šฉ๊ณผ ๊ด€๋ จํ•ด์„œ๋„ Leverage Staker์˜ ์Šคํ…Œ์ดํ‚น ์ด์ž ์ˆ˜์ต ์ค‘์—์„œ ์ˆ˜์ˆ˜๋ฃŒ ๋น ์ ธ๋‚˜๊ฐ€๋Š” ๊ฒƒ ์•„๋‹Œ๊ฐ€์š”? ์ œ๊ฐ€ ๋งํ•˜๋Š” ๊ฒƒ์€ ์Šคํ…Œ์ดํ‚น ์ด์ž ์ˆ˜์ต๋ณด๋‹ค๋„ ๋” ์ปค์งˆ ์ˆ˜ ์žˆ๋Š” ์ด์ž ๊ตฌ์กฐ๋ฅผ ์˜๋ฏธํ•ฉ๋‹ˆ๋‹ค. (Tarot Finance ๋“ฑ์—์„œ ํŠน์ • ํ† ํฐ ๋Œ€์ถœ ์ด์ž๊ฐ€ 100%๋ฅผ ๋„˜๋Š”๊ฑฐ์ฒ˜๋Ÿผ).