🔊 Did You Know 🙋♂️
👉 The #QuaiNetwork protocol has two different native tokens: $Quai & $Qi.
👉 Learn more about the two-token system of #QuaiNetwork in this thread
🧵
1️⃣ 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.
2️⃣ The word #Quai translates as
colloquial word for money, equivalent to “buck” or “quid” in English.
👉 #Qi word refers to a concept of "energy" or life force ✨
3️⃣ Both these tokens are issued by the Quai protocol and functions as Gas ⛽ token on their respective chains ⛓️
👉 Quai -> Programmable Quai Chain
👉 Qi -> Fixed denomination UTXO Qi chains
4️⃣ Both of these tokens bought into circulation via work-based consensus process (PoEM) that secures the network ⛓️
👉 Quai and Qi tokens serve as incentives for miners in the form of block rewards 🌟
5️⃣ 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 ✨