๐ Did You Know ๐โโ๏ธ
๐ The #QuaiNetwork protocol has two different native tokens: $Quai & $Qi.
๐ Learn more about the two-token system of #QuaiNetwork in this thread
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1๏ธโฃ This two-token system is designed to encourage the usage of Qi as a medium of exchange, while still accommodating for store-of-value and programmable money use-cases with Quai.
2๏ธโฃ The word #Quai translates as
colloquial word for money, equivalent to โbuckโ or โquidโ in English.
๐ #Qi word refers to a concept of "energy" or life force โจ
3๏ธโฃ Both these tokens are issued by the Quai protocol and functions as Gas โฝ token on their respective chains โ๏ธ
๐ Quai -> Programmable Quai Chain
๐ Qi -> Fixed denomination UTXO Qi chains
4๏ธโฃ Both of these tokens bought into circulation via work-based consensus process (PoEM) that secures the network โ๏ธ
๐ Quai and Qi tokens serve as incentives for miners in the form of block rewards ๐
5๏ธโฃ A fully automated mechanism is built into the protocol that allow users to convert
the Qi and Quai using a mint/burn function at the current block reward ratio โจ