With a sudden growth of DeFi we heard a lot about projects aiming to solve non-existent issues. That definitely doesn't apply to Kira - the project changes the multi-billion $ crypto-staking infrastructure.
To start with, nowadays, if the person wants to participate in the consensus of POS network, he should lock his tokens. Some networks, like Polkadot, and Near have implemented the delay for token unlock - when the user wants to unstake his funds, he should wait for some time. Such obstacles aren't contributing to the blockchain space for a couple of reasons:
- - when the market grows users aren't motivated to lock their funds due to market opportunities being higher than the potential APY from staking - thus, the network's security is becoming minimized.
- - when the market is falling, users aren't motivated to lock their funds as well - they do not want to face the net-loss on their assets.
Isn't it the issue we should solve to continue growing?
The proposition of Kira Network and what this project is about.
Kira Network wants users to be able to access the market with their holdings with that funds being staked at the same time. Right now, it sounds like an oxymoron, but let me explain how the project is going to achieve this.
Shortly, when users are staking funds (delegating to the desired validators) with the help of Kira Network, the system automatically generates an equal amount of liquid tokens to them. And these tokens are usable within the platform. Users can use them to farm tokens, lend, and even participate in the Initial Validator Offering - a new method of crowdfunding proposed by the project. Details here: https://medium.com/kira-core/initial-delegator-offering-ido-b788c83c32d5
What projects are going to be connected to Kira Network? According to the roadmap from Kira's website (https://kira.network) the team of developers is planning to launch the support of Cosmos blockchain by the end of the second quarter of 2021. Ethereum and Polkadot's support will be added in the 3rd and 4th quarters of 2021, respectively.