Risk on QIAN project


QIAN is a stablecoin protocol based on Ethereum and Binance smart chain. Users can lock their cryptoassets (such as ETH, HBTC, WBTC, USD stablecoins, mainstream exchange platform tokens, etc.) to the protocol and mint the stablecoin QUSD, the stablecoins can also be returned to smart contracts to redeem their assets.
QUSD is the first stablecoin issued by QIAN protocol, which launched in September 2020. QUSD is issued on both Ethereum and Binance smart chain. In the future, QIAN protocol will also launch QHKD, QEUR and other stable assets.
KUN is the governance token of QIAN, with a total supply of 12 million and no pre-mining, no private sale, no team distribution, 100% mining distribution. It is used to vote on QIAN governance and to maintain QUSD price stability.




Balancer; DeBank; S.Finance; Dex.ag; Equator; Loopring; bStable; Defi Pulse; OkLink


Total value locked: $6,109,370

Total value locked on Ethereum: $3,327,050

Total value locked on BSC: $2,782,320

Market Cap: N/A

                                                              UTC 2021.3.25 09:49



Type: ERC-20;BEP-20

KUN Token Distribution:

Total Supply: 12,000,000

Circulating Supply: 12,000,000

100% Belongs to the community


KUN plays the role of governance voting in the QIAN V1 protocol. KUN continues to have governance authority and also assumes the role of regulating the algorithm in the Chemix protocol.


Structure: Delegated On-Chain Vote


The total amount of KUN tokens is 12 million, which are distributed entirely through liquidity mining. In the first 12 months of Chemix’s launch, 10% of the total KUN tokens that is 1,200,000 KUN, will be released to users who support QSD’s liquidity. In addition, in order to incentivize the increase in the proportion of algorithm regulation, as the algorithm regulation ratio increases, up to 300% of the basic release amount of KUN increments will be distributed to users who provide liquidity among the various liquidity pools of QSD according to their respective release rates multiplied by the collateral ratio adjustment factor.

Collateral Ratio Regulating Factor (CRF) is inversely proportional to the proportion of Collateral. When the proportion of collateral decreases and the proportion of algorithm increases, the value of CRF will also increase. The relationship between CRF and the proportion of mortgage is:

After Chemix is launched, KUN’s governance mining will be activated at a chosen time. According to the community decision, governance mining will set different periods and adjust the release amount of KUN tokens between each period, so as to seek a balance between encouraging users to participate in governance and encouraging the use of QSD.

Official Links

Website: QIAN

Whitepaper: QIAN V2:创新的去中心化分数算法合成资产协议 - QIAN Documents

Github: QIAN Protocol · GitHub

Contracts on BSC: 0xb8c540d00dd0bf76ea12e4b4b95efc90804f924e

Aduit Report: PeckShield

Risk Framework