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7 lines
749 B
Markdown
7 lines
749 B
Markdown
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# Concepts
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This module is responsible for the minting and burning of liquid staking receipt tokens, collectively referred to as `bkava`. Delegated kava can be converted to delegator-specific `bkava`. Ie, 100 KAVA delegated to validator `kavavaloper123` can be converted to 100 `bkava-kavavaloper123`. Similarly, 100 `bkava-kavavaloper123` can be converted back to a delegation of 100 KAVA to `kavavaloper123`. In this design, all validators can permissionlessly participate in liquid staking while users retain the delegator specific slashing risk and voting rights of their original validator. Note that because each `bkava` denom is validator specific, this module does not specify a fungibility mechanism for `bkava` denoms.
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