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Flash Protocol overview
- 1.To be eligible to execute orders, Resolvers need to provide Collateral Token to the CollateralManager contract.
- 2.Only stablecoins (USDT, USDC, DAI) can be used as Collateral Tokens. These tokens can be slashed by Liquidators in case the order execution fails.
- 3.Protocol Maintainers (Zk-Node holders) must stake in Kinetex DAO to be eligible to maintain the protocol. The DAO stakes serve as a guarantee of a fair distribution of work among Protocol Maintainers. It can be slashed if a Protocol Maintainer fails to generate a proof, update the Zk-LightClient, or provides incorrect data. Protocol Maintainers are rewarded for providing computing power and updating the Zk-LightClient.
- 4.Resolvers pay to the pool in the form of a protocol maintenance fee. Fees ensure that Protocol Maintainers are motivated to provide computing power, and Resolvers always have the actual state of light clients.
Not only resolvers can use the protocol. Anyone can utilize Zk-LightClients inside their applications but must pay fees to the protocol maintainer pool.