Kira Network

By CryptoTrainee | cryptoTrainee | 14 Oct 2020

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Overview

Kira is the first DeFi solution built in Tendermint and Cosmos SDK with liquid staking, using a Multi-Bonded Proof of Stake (MBPoS), powered by Tendermint and that belongs to the Byzantine Fault Tolerant consensus protocols.

Kira is a cross-chain platform with full interoperability, allowing for cross-chain transfers across almost any network (PoW, PoS...). Kira Protocol is a multiple asset staking platform, which allows any deposited token to be staked, with no limitations in terms of how much can be transferred cross-chain or used on the platform safely.

And when we talk about multiple assets, we are talking about staking real-world assets such as digital fiat, commodities and trusted crypto-assets like BTC, ETH and other tokens including NFT’s.

Kira users will earn passive income from block rewards, network and exchange fees, while staking their assets, whilst still being able to trade their assets at stake.

Revenues

Revenues are generated through block and fee rewards. Token holders will benefit both from these rewards and from maintaining the liquidity of the assets at stake, due to of staking derivatives, supported natively by the Kira Protocol.

For each staked token, a staking derivative, representing that staked token, is issued, the ratio is 1: 1.

These derivatives can be transferred and traded freely, but they cannot be slashed, meaning that access to capital is never limited and can be used to its full potential, instead of remaining permanently locked in a protocol.

Kira Native Token - KEX

Kira will have a native token, called KEX, once its mainnet is launched. KEX will act as a reserve currency and can be used as the transaction fee payment mechanism, essential to avoid transaction spam.

Governance is one of the pillars of Kira, which will be a DAO platform, where users will be able to participate in decision-making processes, requiring that they hold KEX tokens for this.

Possible future decisions include voting to decide whether KEX it may have both inflationary and disinflationary issuance mechanisms.

Before KIRA Network is launched, an ERC20 KEX token on Ethereum network will be issued to provide early access to the market.

The initial supply of the ERC20 token will be 300,000,000 KEX.

The ERC20 KEX is NOT a native KIRA Network token and will be swapped for the native KEX after the release of our mainnet.

The 300M KEX tokens issued on the Ethereum network will be equal in their number to the initial token supply on the KIRA Network.

IX Protocol

Another outstanding product from Kira is the Interchain Exchange Protocol (IXP) que will allow users to stake and trade their assets at the same time.

It joins liquidity, performance and trading sophistication of CEXs, but without the custody, downtime and fraud risk that plague this market.

IXP will offer a full decentralised trading experience, enabling peer-to-peer exchange with full anonymity, no KYC and its users will retain full and exclusive custody of their funds.

Tokenomics

Kira token metrics

Kira has raised $300,000 in Seed and $3,300,00 in Private Sale rounds with and was fundraised by some the private equitis firms such as Ascensive Asset Management, Alphabit Fund, BTC12 Capital, TRG Capital, NGC Ventures and Origin Capital.

The public sale is planned to be launched soon and Kira aims to raise $400,000 with the price of $0,075 per each KEX.

The inicial circulating supply will have 12,483,333 KEX tokens that will generate an initial market cap of $936,250, fully liquid on the market.

One of Kira's benefits is that its community will receive 5% of the total initial token supply that will be distributed through various liquidity and PR incentivisation events over a period not shorter than 14 months.

Every month 1M tokens will be unlocked for the purpose of distributions to the community.

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Conclusion

Kira aims to be fully owned, governed, managed, protected and operated by its community.

Stay tuned, as this is a great opportunity to enter the DeFi world through a serious project and supported by a large community and large strategic investors.