Diamond

The Kairos Loan smart-contract is a diamond. This has been chosen to make the kairos an iteratively evolving protocol. The diamond standard allows it to be upgraded and support an arbitrary number of future features.

A multisig will first handle those upgrades, before handing this power to a more decentralized governance, that will hopefully in turn choose to disable the diamond upgradability later.

The kairos smart-contract is meant to secure trustless loan deals between borrowers and suppliers. The off-chain loan offer book is meant to make the market more fluid, allowing lenders to post and update a large number of loan offers without the burden and cost of on-chain interactions. It takes the form of an API managed by the dev team. The book should be decentralized in the future. The contract guarantees trustless execution and management of the loans regardless of the offer book liveness or corruption. The offchain book being inaccessible may only prevent new loans from being issued (due to offer infos being inaccessible). An existing loan can be repaid/liquidated and its full infos accessed fully on chain.

There is no fee in the protocol at the moment, but please note that it will be the case in the future, and it may affect how the amounts repaid/claimable are calculated in the future.