All natural or legal persons from the public or private sector can become anchors provided that they agree to the provisions of the whitepaper, and satisfy the technical and economic requirements. When operating anchors, government entities are solely responsible for complying with their own rules and regulations.
The addition of new anchors is contingent on fulfilling the eligibility requirements and a majority vote (51 percent) of the current anchors.
Anchors eligibility requirements are as follows:
- Applicants must have no criminal conviction related to their professional activities. However, it is not mandatory to provide a certificate of clearance from a competent authority. Applicants need to declare their status and agree to accept the consequences of being dishonest.
- Applicants must have an excellent reputation in their professional field.
- Applicants must have all the necessary certificates and licenses and comply with all the respective rules and regulations.
- Applicants must present a draft whitepaper of at least one specialized token to be offered on the network.
- Applicants must sign a contract with at least one current host to fully guarantee their debts and liabilities toward Kuknos stakeholders. Anchors are not allowed to have mutual guarantees.
- Applicants are required to provide at least three active service providers for the network.
- Applicants must demonstrate the technical capacity to effectively use the infrastructure provided by Kuknos.
- At least 51 percent of current anchors must agree to the applicant’s request to join the network.
- Anchors responsibilities with respect to the supply, distribution, and market-making of the backing gold are detailed in Section 83 of the whitepaper.
Anchors responsibilities with respect to the supply, distribution, and market-making of the backing gold are detailed in Section 83 of the whitepaper. Also they are responsible for acquiring, supporting, and monitoring issuers. They are free to simultaneously act as issuers and service providers.
Anchor Revenue Models
Anchors have the following revenue streams:
- Each transaction carries a fee of 50,000 peanuts. Anchors collect their fees based on the number of votes they receive each month.
- Asset token issuance fees are arbitrary.
- PayMon issuance fee equals at least 10 percent of the backing gold value, as per Paragraph 8446.
- Fees for other service providers are arbitrary.
- The maximum redemption fee is 1 percent, payable in PayMon.
- The revenue from managing PayMon supply and demand (market price minus issuance price).
- Anchors receive 1 percent of the backing gold of the distributed PayMon tokens each year as compensation for their services.
- Anchors and issuers have no restrictions in developing and diversifying their markets, provided that their actions not violate the principles laid out in this whitepaper.
- If necessary, the Foundation takes the necessary measures to regulate the market and prevent and counteract anti-competition practices by any member(s) of the Kuknos Ecosystem.
- The maximum and minimum fees are set in the whitepaper to incentivize anchors to improve service quality, optimize interests, and promote healthy competition.
- Users vote for anchors based on the PayMon balance in their accounts. Therefore, by creating diversified and user-friendly channels and services, anchors can attract more votes and increase their revenue in the following areas:
- Fair distribution of network operation fees.
- Receiving more distributable PayMon tokens each month.