Kira Network

Kira Network, an upcoming Defi project

By Defi Lover | Defi Lover | 14 Oct 2020


Kira is a project which will be having its public sale soon. Below is my very honest opinion on them :) 

It based on the idea of unlocking liquidity out of your staked capital. Using Kira, you can maintain 100% liquidity of your staked capital, trade and use DeFi while simultaneously earning block and fee rewards by staking ANY digital asset. They can be compared to Stafi and Ramp Defi, both of which are based on the same idea. The biggest benefit is that you maintain full custody of your assets using these protocols. Kira is based on Tendermint, which has relatively a very low number of projects compared to Ethereum.

They have been around for 2+ years now, but will be having their testnet soon. This is what they've achieved with 2 years of development(Their competitors are already ahead of them in development) Now that the bull season had returned for DEFI projects, they re-appeared again to raise money which they couldn't for 2 years. 

The team is led by CEO, Milana Valmont who spends a lot of the raised money in showing off brands of her high lifestyle and costly apparel brands on Instagram. They have advisors, like Roger Lim who is a partner at Neo Global Capital, a capital firm by Neo which gets in every other crypto project at discounted rates and special terms(in exchange of their repution added to the project) to dump at the plebs. 

The have raised 300k from seed round and 3.3M from private sale round, all of which will be locked while launch. While private sale was already rekt with the already long lockups, but the team made them even more rekt by changing the locks and changing the initial unlock from 15% to like 2.5%. Many of the private investors are taking/want refunds now. 

Public round will be having 400k cap, but the team wants everyone to do cheap af labor for them i.e. You're required to make videos, write articles on them for maybe 350-400$ allocations which may give 50$ profits on the first day of listing. Initial supply will be public sale tokens and the team's own tokens which they may dump in name of providing liquidity. 

While market conditions have worsened again with most hyped projects performing very poorly and barely surving breakeven on listings, their Inital marketcap at launch will be less than 1M too, which they should survive for atleast a couple of days hopefully. I will try to get in this moneygrab scam for a 1st minute candle flip if i get a chance to get in without cheap labor :) 


 

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Defi Lover
Defi Lover

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