King Power ($KP)

In order to provide access to Trophy King’s application portfolio, we’ve developed payment gateways primarily dependent on the network’s reserve token, the $KING token. But to provide a mature token economy, one that allows the network participants the ability transact on the network and still hold onto the reserve token, a credit solution is necessary. Trophy King’s credit solution, is implemented in the form of a token that would allow its holders to access those applications as well as specific features within the economy such as voting, acquiring decentralized application’s assets, and much more.

This solution is developed like many other asset reserve solutions, where the asset is minted by being pegged 1:1 to the supply of token on reserve or transferred from the circulating supply. The mechanism in which the $KP is minted is called powering up, that can be described as vesting $KING to the reserve contract. Upon minting, unused $KP will decay within 24 hours, when it can be converted to $KING. $KP can be spent in the same manner as $KING wherever it is accepted. The action of spending $KP depletes a wallet’s available or spendable balance and triggers a replenishment process.

The replenishment process is one where the balance of spendable $KP is returned to a wallet. The initial rate of replenishment at deployment, from the reserve is 11.5740740741 $KP per second. This rate can be adjusted in accordance with governance. $KP is non-transferrable between wallets and is centralized through the reserve contract, following Trophy King’s terms and conditions.