Reporter set
Who publishes the Kimp Index, how reporters are registered and bonded in $KIMP, how they submit, and how they are paid.
The Kimp Index is published by a set of staked reporters. Each reporter computes the index independently and submits signed reports on-chain. The contract finalizes the median. No single reporter can set the value.
Role of a reporter#
Every epoch, each active reporter:
- 1Retrieves the Upbit KRW price, the three global venue prices and the USDKRW mid for each listed asset. See Sources.
- 2Computes the index for each asset with the published formula.
- 3Signs one report per asset and submits it to the KimpIndex contract through KimpReporterRegistry.
- 4Retains the raw source data behind each report for the dispute window.
Parameters#
| Parameter | Value |
|---|---|
| Registry contract | KimpReporterRegistry |
| Target active set at launch | At least 7 reporters |
| Quorum per epoch | 5 valid reports |
| Bond asset | $KIMP |
| Minimum bond | Set by governance before mainnet |
| Unbonding period | 14 days |
| Automatic flag threshold | More than 25 bps from the finalized median |
| Payment | From the stakers' 30% share of protocol fees |
Registration#
A reporter registers an operator address and a signing key in KimpReporterRegistry and posts a bond in $KIMP at or above the minimum. Admission to the active set and the admission criteria are governance decisions executed through the timelock. The criteria are published before mainnet.
The target active set at launch is at least 7 reporters. With a quorum of 5, the index keeps finalizing if up to 2 reporters are offline. A larger set increases both liveness and the number of independent operators that would have to collude to move the median.
Independence#
The median only protects the index if reporters fail independently. Reporters are expected to run separate infrastructure, query venues directly, and avoid shared intermediaries for price data. Operators that share infrastructure should not be admitted as separate reporters.
Accountability#
A reporter's bond is at risk in two ways.
- Automatic flags. Any report more than 25 bps from the finalized median is flagged on-chain. Three flags within 24 hours slash 10% of the bond and suspend the reporter.
- Disputes. Anyone can dispute an epoch within 30 minutes of finalization. A proven deviation can slash up to 50% of the bond.
Details are in Bonding and slashing and Dispute rules.
Payment#
Reporters are paid from the 30% of protocol fees that go to $KIMP stakers. The portion allocated to reporters is a governance parameter. Paying reporters from protocol fees ties their income to the health of the market they serve. See $KIMP utility.
Leaving the set#
A reporter can request to leave at any time. It stops being counted in the active set immediately, and its bond enters a 14-day unbonding period. The bond remains slashable during unbonding, so a reporter cannot escape a pending dispute by exiting. The 14-day period is longer than the 30-minute dispute window plus the escalation path, which leaves room for a governance vote on an escalated case.
After the Upbit Oracle#
When the official Upbit Oracle becomes the primary source for the Upbit KRW price, reporters keep publishing the global USD price and the USDKRW reference, and they remain the fallback for the Upbit input. See Upbit Oracle migration.