Technical Details

1min

Our implementation of the tzBTC² tokens relies on this public library.

kvBTC is essentially the FA2 native Tezos token that is controlled by our implementation of the checker protocol described in the link above.

Checker (modified) serves as the main contract, which is responsible for Minting and Burning the Kvadrat tokens, effectively regulating their supply and prices.

The table below shows how the terms described by Checker Library correspond to Kvadrat's implementation.

Original Checker Concept

Kvadrat Implementation

Oracle

tzBTC Squared Index, thus making it the BTC-USD exchange rate essentially

Kit

kvBTC token

Target

Relationship between Mark Price and Index Price for kvBTC

Instantaneous drift

Daily Funding Rate for kvBTC

Burrow

Contract that serves as a collateral deposit when one opens a Short or Mint+LP position



Updated 25 Mar 2024
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