> For the complete documentation index, see [llms.txt](https://doc.longrise.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://doc.longrise.ai/rewards/cnd.md). # CND The next stage of CNYT ecosystem growth — CND is a privacy-preserving casino exchange and settlement token designed for use at physical casino venues. *** > **In Development** — CND is currently in the technical development stage. The details below are design principles that will apply once the relevant conditions are met. See the Roadmap page for target launch timing. ## CND Design Principles | Item | Detail | | -------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------ | | Reference Value | 1 CND references approximately USD 1 · convertible in real time into local currency, casino chips, or approved services at partner venues | | No Direct Fiat Claim | No direct redemption right against the Foundation or a regulated financial institution · conversion occurs only through partner casinos and junket operators | | Revenue Model | Casino exchange, payment, and settlement fees — certain channels may support double-digit fee rates | | Governance | Quarterly voting based on active staked CNYT holdings — determines the CND fee distribution rate | ## CNYT-to-CND Conversion Structure | Item | Detail | | ------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------ | | One-Way Conversion | CNYT can be converted into CND; CND cannot be converted back into CNYT | | Permanent Burn | Converted CNYT is permanently burned — reducing both total and circulating supply | | Conversion Pricing | 24-hour CNYT time-weighted average price (TWAP) plus a separately published fixed conversion fee | | Access Priority | Approved strategic participants are processed first, followed by phased expansion. LONGRISE receives priority access but no preferential pricing | ## Reserve System Protecting CND | Category | Detail | | -------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | Casino-Asset-Based | Operating rights, revenue rights, junket interests, exchange reserves, resort equity, and related gaming assets, valued through a combination of independent external appraisal, actual operating performance, and discounted cash flow (DCF) analysis | | Liquidity Support Assets | Cash-equivalent and liquid digital assets supporting settlement and reserve operations · external appraisal annually, internal monitoring quarterly | | 110% Minimum Reserve Ratio | Risk-adjusted reserve value must remain at least 110% of outstanding CND reference value · if coverage falls short, new CND issuance and CNYT-to-CND conversion are immediately suspended and the Foundation executes a recovery plan | ## Transaction Privacy Design CND is designed as a privacy-preserving casino exchange and settlement token. By default, sender, recipient, amount, wallet relationships, and settlement details are not exposed on a public ledger. | Item | Detail | | ------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Private Ledger for Authorized Parties | With mutual consent, authorized key holders can view the complete transaction record via a private ledger · provides a compliance layer for regulatory, audit, and legal requirements | | Validity Proof for Third Parties | Zero-Knowledge Proof (ZKP) technology confirms transaction validity without revealing the counterparty, amount, or transaction details | > The blockchain layer and cryptographic implementation details will be covered in a separate technical whitepaper. --- # Agent Instructions This documentation is published with GitBook. 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