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What is sKCS?

sKCS is a liquid staking token. You get sKCS when you stake KCS in the sKCS contract.
sKCS is a liquid staking token. You get sKCS when you stake KCS in the sKCS contract. sKCS tokens are minted upon deposit and burned upon redemption. They act as receipts, allowing you to exchange them later for your staking KCS and staking rewards.
At the same time, sKCS tokens can be used like KCS to earn income in decentralized financial products.
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So how is the price of sKCS determined?
KCS: The initial ratio of sKCS is 1:1. As long as the staking rewards are allocated, the token price will continue to rise.
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The exchange rate (Exchange Rate) of KCS to sKCS is:
ER = (Tstaking + Tbuffer + Tpending X ( 1 - r ) - Tbox) / N
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The KCS locked in the sKCS contract management comes from the following parts:
1)Tstaking: The total number of KCS that the sKCS contract has staked to KCC Staking 2)The total number of KCS in the sKCS contract account that is not staked to KCC Staking, including the following parts:
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Tfee: The total amount of KCS in the sKCS contract that belongs to the commission of the sKCS agreement
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Tbuffer: The total number of KCS in the sKCS contract that belongs to all users but has not been pledged to KCC Staking (because KCC Staking requires an integer number of KCS, those KCS that cannot be pledged to KCC Staking, such as 0.5, will be temporarily placed in the buffer)
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Tdebt: The total number of KCS that the user has not withdrawn after applying to exchange sKCS back to KCS.
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Tpending: The number of KCS corresponding to the Pending Rewards that the sKCS contract has not yet claimed in KCC Staking
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Tbox: The total number of redemption applications that were not processed in time when users applied to exchange sKCS back to KCS.
There are also the following parameters in our system:
N: the total amount of sKCS issued r: is the commission rate charged by the sKCS protocol for user revenue
In simple terms, the price of sKCS = total_staked / tokens_minted sKCS
Token Address: Supplement later sKCS price information: $sKCS