Kaspa Explained20 tokens still waiting
Money mechanics
See what a financial promise needs.
Use three small models to trace a redemption queue, test collateral coverage, and settle a binary claim. Each model names the asset, the rule, and the outside fact code cannot supply.
Educational models with imaginary balances. They are not investment advice and move no funds.
100 tokens. $100 in backing.
Cash sets the redemption pace
$0.00 cash · $80.00 Treasuries
Cash availableTreasury assets
Assumptions, redemption rights, and Treasury backing
This invented issuer values its Treasury assets at par. The model does not sell securities, estimate bank settlement, charge fees, or model insolvency. Only paid redemptions reduce the token supply. Moving the slider starts a new snapshot.
A real token needs enforceable redemption terms and custody arrangements. On-chain arithmetic cannot establish that assets exist, are unencumbered, or are legally owed to you. Tokenized Treasury funds also depend on their fund documents, access rules, and intermediaries.
Reserve disclosures · Example redemption terms · Limits of reserve reports
10 collateral units. $50 borrowed.
A price drop changes the health factor
10 hypothetical coins
Fixed in this example
Liquidation eligibleHealth factor 1More collateral
Calculation and missing infrastructure
Health factor = collateral value × 0.75 ÷ debt. These invented parameters illustrate one lending rule. There is no interest, price impact, fee, or liquidation execution here. A real system needs price feeds, available buyers, and rules for shortfalls. Code cannot guarantee those will work during a crash.
100 Yes claims. 100 No claims.
Resolution selects the payout
Waiting for a result
Claims, resolution, and model boundaries
One unit of collateral backs one complete Yes/No pair. Only one side receives the unit after binary resolution. Before resolution, a complete pair could be merged back into collateral. This example shows settlement, not trading, odds, fees, disputes, or forecasting quality. Pending does not mean a 50/50 payout.
Testnet contracts and assets
Use a disposable browser wallet to try escrow, shared treasury spending, prediction payouts, token transfers, and backed receipts on Testnet-10. Review each transaction before signing.