KIRA is a trustless DeFi Network that provides access to the market for any digital token in the cross-chain ecosystem and allows you to utilize 100% of your working capital without locking it up. With KIRA, you can stake any fungible or even non-fungible token to secure the network and claim the rewards. KIRA makes it possible to stake on leverage (on multiple chains at the same time), trade all your staked coins directly on Kira or use it with other DeFi’s at the same time.
KIRA Network is designed to secure and power DeFi applications by utilizing the real, intrinsic value of any digital asset at stake, such as cryptocurrencies, stablecoins, digital fiat or even NFT’s. KIRA further provides liquidity to staked assets through staking derivatives which at the same time can be used with any DeFi application in a trustless manner.
KIRA Network itself is a hub providing access to the market and incubates DeFi products such as native exchange protocol or a novel crowdfunding application where investors do not spend their money, but delegate their assets to mine new tokens and maintain full liquidity of their capital.
Products/Features
Kira Interchain Exchange
Interchain Exchange Protocol (IXP) is a scalable, trustless, and permissionless asset exchange built to demonstrate core economic principles of the KIRA Network and offer a fundamental value proposition (network fee revenues) to the Kira Token (KEX) holders as well as other delegators. The leading utility of the IXP module is to provide full liquidity (through staking derivatives) to all assets at stake while enabling traders to benefit from the block and network fees
MBPoS Consensus
Kira utilizes the value of real assets at stake to secure the network thanks to it’s novel Multi-Bonded Proof of Stake (MBPoS) consensus. Compared to other types of PoS algorithms there are no limitations in regards to how much value can be at stake and what types of digital assets can be staked to ensure that total value locked (TVL) is sufficient to secure Kira regardless of the changing market conditions.
Liquid Staking
Decentralized Finance aims to provide asset holders with the ability to maximally utilize the potential of their capital to generate income. Kira natively supports staking derivatives representing staked tokens 1:1 to maintain security while providing liquidity of all assets at stake.
KIRA Staking is a trusted Proof-of-Stake infrastructure provider and validator to comfortably stake your coins and earn rewards with Cosmos and Kusama.
VO Crowdfunding
The Initial Validator Offering (IVO) is a crowdfunding mechanism where investors place their existing tokens or assets at stake using one or many PoS networks to “interchain-mine” a new token instead of liquidating their valuable assets to acquire new, highly speculative tokens. KIRA aims to change the way projects are crowdfunded in this industry from the current ICO model.
Conclusion
One of the key things that stands out about the Kira project is the thought that has gone into addressing the current problems faced today in this industry. It is impressive that they cover several elements in the ecosystem, including trading on exchanges, funding for startups and creating a cross-chain POS network.
The room for adoption for the project is vast, considering what they can offer compared to their competitors.
*We will review the Interchain Exchange as a separate review in the future.
