# Tokens

Kai Protocol is a multi-token protocol consisting of [Kai (KAI)](/kai-protocol/english/protocol-and-mechanisms/tokens.md#kai-kai), [Kai Shares (sKAI),](/kai-protocol/english/protocol-and-mechanisms/tokens.md#skai-kai-share)[ Kai Bonds (bKAI),](/kai-protocol/english/protocol-and-mechanisms/tokens.md#bkai-kai-bonds) and Kai Vote (vKAI) tokens.

Each token operates depending on algorithms and smart contracts to ensure safety, and its configuration and role are as follows.

## KAI - Kai

```
0xe950bdcFa4d1e45472E76cf967Db93dBfc51Ba3E
```

Kai (KAI) is designed to be used as a medium of exchange like a stablecoin. The stability mechanism built into the protocol expands and contracts the supply of KAI, keeping it pegged to 1 KAI = 1 KUSDT (traded close to the single U.S. fiat currency, the dollar). 

However, despite KAI's aggressive pinning method, it does not necessarily guarantee the value of 1 KUSDT. Therefore, 1 KAI does not always equal 1 KUSDT.

{% hint style="info" %}
KAI can be purchased and deposited in the liquidity pool.
{% endhint %}

{% content-ref url="/pages/-Magjvconpt-PekqqMI8" %}
[How to buy KAI](/kai-protocol/english/how-to-guides/kai-protocol-service-guide/kai.md)
{% endcontent-ref %}

{% content-ref url="/pages/-Mb5NgwfqOa4CIWl-jDH" %}
[How to Add Liquidity](/kai-protocol/english/how-to-guides/how-to-klayswap/undefined-3.md)
{% endcontent-ref %}

## sKAI - Kai Share

```
0x37d46C6813B121d6A27eD263AeF782081ae95434
```

The value of Kai Shares (sKAI) represents the value of the Kai Protocol and is designed to implement a trust mechanism for the system to peg KAI to 1 KUSDT. 

In the round of expansion status, additional KAI is issued according to the KAI price and circulation, and sKAI is distributed proportionally to all participants who deposit sKAI on the Kai Protocol website.

{% hint style="info" %}
sKAI can be purchased, staked in the Kai protocol, or deposited in the liquidity pool.
{% endhint %}

{% content-ref url="/pages/-MagmitW5QBaJtG0plIB" %}
[How to buy sKAI](/kai-protocol/english/how-to-guides/kai-protocol-service-guide/skai.md)
{% endcontent-ref %}

{% content-ref url="/pages/-Mb5NgwfqOa4CIWl-jDH" %}
[How to Add Liquidity](/kai-protocol/english/how-to-guides/how-to-klayswap/undefined-3.md)
{% endcontent-ref %}

{% content-ref url="/pages/-MagnTalaVRRgRbRTcQw" %}
[sKAI Stake / KAI, vKAI Claim](/kai-protocol/english/how-to-guides/kai-protocol-service-guide/skai-kai.md)
{% endcontent-ref %}

## bKAI - Kai Bonds

```
0x968D93a44B3eF61168CA621a59DDc0e56583e592
```

Kai Bond (bKAI) helps to encourage changes in KAI supply during rounds of expansion and contraction states. You can purchase bKAI with KAI during rounds in the contraction state. 

At this time, the KAI used is incinerated and excluded from the total circulation, and bKAI is issued and distributed. 

There is no expiry date for bKAI and bKAI holders can claim in KAI at any time by redeeming them. Upon request, bKAI will be burned and the KAI held in the Treasury Contract will be paid, increasing the KAI circulation. 

However, when a redemption request is made in a reduced round, a 10% penalty is incurred because KAI is additionally distributed even though it is not at the time of additional supply.

{% hint style="info" %}
bKAI can be purchased (contraction round) and deposited in the liquidity pool
{% endhint %}

{% content-ref url="/pages/-MkpDbQ7B6psrtSdQ4wo" %}
[How to buy bKai](/kai-protocol/english/how-to-guides/kai-protocol-service-guide/how-to-buy-bkai.md)
{% endcontent-ref %}

## vKAI - Kai Vote 

```
0x44efe1EC288470276E29ac3AdB632BFF990E2E1F
```

Kai Vote (vKAI) is a governance token used in the boost service that determines the sKAI distribution rate, and the governance service that proposes and votes to change the parameters of the protocol. 10,000 copies are issued every round, and there is no maximum issuance limit.

{% hint style="info" %}
vKAI can be leveraged in purchase, boost, and governance services.
{% endhint %}

{% content-ref url="/pages/-MjSroBxIAH3\_0sHnX3W" %}
[Boost](/kai-protocol/english/protocol-and-mechanisms/boost.md)
{% endcontent-ref %}


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