A three-state hopping model is established according to experiments to study permeation of an open-state potassium channel from Streptomyces Lividans (KcsA potassium channel). The master equations are used to characterize the dynamics of the system. In this model, ion conduction involves transitions of three states, with one three-ion state and two two-ion states in the selectivity filter respectively. In equilibrium, the well-known Nernst equation is deduced. It is further shown that the current follows Michaelis-Menten kinetics in steady state. According to the parameters provided by Nelson, the current-voltage relationship is proved to be ohmic and the current-concentration relationship is also obtained reasonably. Additional validation of the model in the characteristic time to reach the steady state for the potassium channel is also discussed. This model lays a possible physical basis for the permeation of ion channel, and opens an avenue for further research.