The Quicksilver native token, with the ticker QCK, has these specific roles: governance, security, payment of fees.
Governance is a critical component of the Quicksilver network. Onboarding of new zones and corresponding incentivisation, spending of community controlled funds, changing of network parameters and control of the upgrade process are all events handled by the governance process.
QCKtoken holders are able to use their assets to vote on behalf of the protocol.
QCKtoken holders are able to use their assets to secure the Quicksilver chain by delegating them to Validators that stake them to provide PoS consensus to the Network.
The Quicksilver team has been considering transitioning to Interchain Security v3 if it makes economic sense to do so. To avoid any scheduling dependency, the Quicksilver chain will launch as a sovereign Cosmos-SDK chain. If and when Interchain Security v3 is delivered, the potential onboarding of the feature will then be in the hands of the Quicksilver Community through Governance.
QCKtoken is 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.
Last modified 4mo ago