Trade in Kingsman

Kingsman is an exchange that provides conversion of different synthetic assets and contract trading, using SDP trading mode. Due to the design characteristics of SDP, this DEX does not require a counterparty, and there is no issue of trading depth.

All synthetic assets can be converted into other synthetic assets in Kingsman, e.g. from cryptocurrencies such as rBTC, rETH, and rNear, to foreign exchange such as the euro, yen, renminbi, and even gold and various stocks. It supports both long and short. All these assets are systematically synthesized, not real assets, and their conversion rate is determined by the external real price provided by the oracle. This conversion process does not require a counterparty, and users can always convert all their assets supported by the system with unlimited liquidity.

When performing synthetic asset conversion in Kingsman, users need to pay a 0.3% transaction fee, which enters the system fee pool. And all the fees will be converted to CRF using auction or DEX. 40% of the fees will be distributed as rewards to users who meet the specified collateralization ratio in the entire system, and the reward ratio is determined by the debt ratio. Another 40% will be destroyed. The remaining 20% will be reserved for future maintenance and development of the system. For new users, they need to hold debts for more than a certain number of days or cumulatively use them for more than a certain number of days (to be determined) to be eligible for the fee pool rewards.

The prices or conversion exchange rates of all synthetic assets in this system are provided by the oracle machine reading external exchange data, and future planning can introduce decentralized oracles.