5 questions about Kira Network you should know

By CryptoN0ob | CryptoN0ob | 11 Oct 2020


Kira is the first decentralized network that enables market access to any digital asset in the interchain ecosystem. Presentation !

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01. What is Kira Network ?

KIRA is a decentralized network designed to secure and power DeFi applications. This network uses the real value of any asset at stake, such as cryptocurrencies, stablecoins, digital fiat or NFT's.
It permits to stake any fungible or non fungible token and, at the same time, to claim the rewards from multiple chains and trade it on Kira or use it with other Defi’s.

We power up the future of DeFi with liquid staking and do not limit the potential of your capital! (Milana Valmont in an AMA)

The codebase of the Network is open sourced and maintained by Kira Core. The Goal is to fully migrated on-chain and further managed by the KIRA Network itself without any dependency and any centralized entity. The network will be operated by the independent set of decentralized network Validators, who produce blocks containing the current state of the ledger using Tendermint byzantine fault tolerant consensus protocol.

The Kira Ecosystem :

- Kira Core is the corporate company building the Kira Network just like Tendermint is building Cosmos.
- Kira Network is a blockchain where Kira Protocol (our DeFi application) will be deployed.
- The Interchain Exchange module will be embedded into Kira Protocol so users can stake and trade their assets directly there.

Kira's minimum set of novel and essential features:

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- Security: Kira utilizes a novel Multi-Bonded Proof of Stake consensus (MBPoS). It's the native consensus of Kira and it gives the ability to stake any asset type, maintain liquidity of that asset and use it with any DeFi or other dApp deployed on top. It's permit to secure Kira regardless of the changing market conditions

- Liquidity: Kira natively supports staking derivatives representing staked tokens 1:1 to maintain security while providing liquidity of all assets at stake. Staking derivatives enable users to benefit from access to DeFi applications deployed within and outside of the KIRA Network while at the same time stay incentivised through block and fee rewards generated thanks to the network operations.

- Utility: Interchain Exchange Protocol (IXP) is the first dApp deployed on the Network. It can provide utility through market access to all the tokens at stake within Kira, as well as to the entire digital asset space. Thanks to order book sharding IXP can offer unlimited number of token pairs and operate in the truly permissionless manner.

- Scalability: Ensuring fast finality is essential for use with any financial applications. In using its sharding blockchain applications by deploying them on independent sub-chain, Kira can securely parallelize its blockchain application logic and overcome any possible scaling limitations of a single blockchain

- Sustainability: Kira use a governance system to control all economic aspects of the network operations, such as inflation of the native token or interest rates for staking foreign tokens. The goal is to attract digital asset holders to the network and efficiently adapt to always changing market conditions and guarantee long sustainability of operations

- Upgradability: Kira Network use an on-chain contracting with support for CosmWasm smart contracts that give the ability of expand its utility without need for coordinated upgrades and halting block production.

- Interoperability: The interconnection with other networks within the interchain ecosystem Kira can facilitate value and data transfers between various DeFi applications. Furthermore, trustless staking or use of any of dApp within KIRA Network is possible thanks to interchain protocols such as Cosmos IBC and Polkadot XCMP. 

- Expansibility: Kira use Initial Validator Offerings (IVOs) to grow its own ecosystem. The IVOs enable investors to crowdfund new projects without spending or limiting liquidity of their own capital. The IVOs are operated by individual validators.

 

02. What is KEX and what is the role of KEX in Kira Network ?

The native token of the KIRA Network is called KEX. The name 

The role of KEX token is to act like a reserve currency in that staking fee payments and transactions with other assets are appreciated.

The utility of KEX token :

  • To take part of governance and participate in decision-making processes (such as defining inflation or interest rates), KEX token will be required
  • To be a Validator and particpate in the consensus, KES token will be required
  • KEX token is the most efficient means of network fee payments
  • The staking of KEX token remain the most efficient way of accessing incentives from the block and fee rewards

Kira Token Holder

Before the launch KIRA Network, KEX will be an ERC20 token on Ethereum network. It permit to provide early access to the market. The initial supply of the KEX token will be 300,000,000. After the mainnet of KIRA Network, the ERC20 KEX will be swapped to native KIRA Network token with a 1:1 ratio.

Token Metrics:

Kira Token Metrics

 

03. Who is the team behind Kira Network ?

The Team is a solid mix of talented and experienced people. It consists of two co-founder (Milana Valmont and Mateusz Grzelak), 8 team members and 2 advisors. All team members have a LinkedIn public profile.

Milana Valmont is the co-founder and the CEO of Kira. She is graduated in economics From Fordham University. First, she worked in corporate finance for a few years as a private equity analyst. Then she involved herself in the crypto ecosystem as an investor in early 2017. The same year, she joined Binance Exchange as a community volunteer.
After that, she worked as a project manager for Adcoin.com and was an advisor to Sentinel. In 2018, she joined the Knoks Platform as Chief Strategy Officer and in mid-2019 she founded Kira as CEO.

Mateusz Grzelak is the co-founder and the CTO of the Kira Network ecosystem. He is an electronics engineer and he worked as R&D developer for Barclays Bank, then as lead infra engineer for US based Settle Finance and finally as product manager for the crypto exchange in Switzerland called Bity. He has been in crypto since late 2011 by mining BTC.

One other team member is important ! It's Ethan Frey, the Technical Architext. He is the Lead Developer of Regen Network (Tendermint-based project) and the founder of CosmWasm and Confio, the technology that brings smart contracts to Cosmos.

The other member of the team :
- COO : Yuri Papadin
- CGO : Garlam Won
- Senior Blockchain Developer : Jun Kai
- Senior Full Stack Developer : Ryan Choi
- Senior Backend Developer : Andre Marvin
- Frontend developer : Amanuel Yosief Mussie
- Blockchain Developer : James Truong

There are also 2 advisers :
- Roger Lim : Founding Partner at NGC Ventures
- Alessio Treglia : Director of Engineering at Tendermint

 

04. What is the Roadmap of Kira ?

Kira roadmap

Kira's roadmap is displayed above. 2020 is a reach year with many income ; 2021 will be a great year for Kira with the launch of the KIRA Hub and the Governance Module but also with the interconnection with Cosmos (Q2), Ethereum (Q3) and Polkadot (Q4).

The most important infrmation is that the testnet will be launch in Q4 for two month duration and the mainnet is expected by the end of Q4 2020.

 

05. Who are the investors and partners of Kira ?

Investors and partners are essential in the success of a project. On this point, Kira network has many known investors in the crypto world like TRG Capital, Digital Finance Group (DFG), Math Foundation or Origin Capital.

Furthermore, since the beginning of the project, Kira has formed partnership with many hyped and solid crypto projects as Mantra DAO, Persistence, Swingby, Finance.vote or Blockparty.

Some links about the project

- Website: https://kira.network/

- WhitePaper: https://kira.network/static/downloads/KIRA-Network-Whitepaper.pdf

- Telegram: https://t.me/kirainterex

- Blog: https://medium.com/kira-core

- Twitter: https://twitter.com/kira_core

- Github: https://github.com/kiracore

/!\ information, images are from the Whitepaper, blog or kiranetwork.com

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CryptoN0ob
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