Kanpeki
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Overview

Kanpeki is an immutable, non-custodial, incentivized fixed-rate borrowing, and lending platform.
In contrast to other lending-borrowing platforms available, all interest rates are on Kanpeki fixed and decided exclusively by the individual users rather than an algorithm.
Depositors (lenders) earn non-annualized fixed interest by depositing into one or more so-called vaults while borrowers are eligible to earn KAE for every individual debt they repay.

How are rates fixed?

Kanpeki is not a "money-market" i.e. all interest rates are decided by individual users themselves rather than some algorithm affected by the balance of some contract.
Regardless of what another user using the platform, it has no effect on what another can do.

What does "non-annualized" mean?

Where the interest rates displayed on other platforms are basically conditions "now" naively extrapolated ~365 days into the future, Kanpeki's rates are fixed.
A user depositing @ x% will always be able to claim up to x% when borrowers repay that amount. On the other side, a borrower choosing to pay y% will always be required to pay exactly y%. Both x% and y% remain unchanged no matter the time that has elapsed or, in the case of y%, when the borrower chooses to repay.

What does "eligible to earn KAE" mean?

The Kanpeki (KAE) token is a standard ERC20 token with minting and burning functionality. This means there is no supply cap.
Whenever a borrower repays a debt, and only when they do, they are eligible to claim KAE from one of the pre-defined contracts that has the ability to mint KAE. The amount earned is proportional to the size of the debt and interest paid.
Similarly, all fees charged by the platform go towards the burner contract with which anyone can interact with to execute a buy-back and burn. To reiterate, 100% of the fees go straight to this contract. As Kanpeki is an immutable platform, there are no humans involved.
  • only pre-defined contracts can mint or burn KAE
  • if a borrower never claims their earned KAE, it is never added to the supply

What about inflation?

Inflation doesn't happen in a vacuum. In Kanpeki, it only happens if, and only if, a borrower repays a debt and then claims the reward associated with the debt. Consequently, meaningful inflation necessarily presupposes:
  • a meaningful amount of not merely borrowers, but borrowers paying interest
  • a meaningful amount of depositors seeking these high interests as borrowers would, after all, be borrowing deposited tokens
  • a scale of borrowing and, especially, depositing such that users seek to stake and maintain their active stake as that is necessary to retain access to higher interest rates and KAE
To the extent that the above occurs, depositors would necessarily be acquiring the new "inflation" generated by borrowers in order to stake, thus reducing the active, circulating supply.

Can I be a depositor and a borrower?

Yes. These actions are not mutually exclusive.
Depositing is not equivalent to "supplying" in other platforms. Depositing and borrowing are separate actions. Your deposit cannot be used as collateral when trying to borrow
Last modified 28d ago