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Kira Network

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Discover Kira Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Kira Network?

Kira Network (KEX) is a blockchain-based protocol that enables liquid staking, allowing users to earn block and fee rewards while staking various digital assets, including cryptocurrencies, stablecoins, and non-fungible tokens (NFTs). The native token, KEX, is used to pay for network fees and transactions on the platform, which focuses on data-sharing technology and supports decentralized applications.

How is Kira Network used?

Kira Network (KEX) is the native token of the Kira Network, a blockchain-based protocol focused on data-sharing technology. The primary uses of KEX include:

  1. Staking and Liquidity Rewards: Staking KEX is the most efficient way to claim revenues from block and fee rewards on the Kira Network. Users can stake KEX to generate revenues while maintaining full liquidity via natively supported staking derivatives.

  2. Network Fees: KEX is used to pay for network fees and other transactions on the platform.

  3. Supply Chain Management and Data Exchange: KEX can be used for supply chain management, data exchange, and overall financial services.

  1. Governance: Kira governance controls the inflation rate of the KEX token and defines the revenue share of all tokens, ensuring the long-term operation of the network.

These uses highlight the versatility and utility of the KEX token within the Kira Network ecosystem.

How do I store Kira Network?

To store Kira Network (KEX) tokens, you can use various cryptocurrency wallets that support the token. Here are some popular options:

  1. MetaMask: MetaMask is a widely used wallet that supports Kira Network. You can add KEX to MetaMask by importing the token's contract address (0x16980b3b4a3f9d89e33311b5aa8f80303e5ca4f8) manually or using the MetaMask chrome extension.

  2. Trust Wallet: Trust Wallet is another popular option that supports Kira Network. It offers a user-friendly interface and robust security features.

  3. Ledger: Ledger is a hardware wallet that provides high-level security for storing KEX tokens. It supports multiple cryptocurrencies and is known for its reliability.

  1. imToken: imToken is a mobile wallet that supports Kira Network. It offers a range of features, including multi-asset support and decentralized exchange integration.

  2. Torus: Torus is a decentralized wallet that supports KEX tokens. It provides a secure and user-friendly experience for managing your Kira Network funds.

  3. Coinbase: Coinbase is a well-established exchange that also offers a wallet service. It supports Kira Network and provides a convenient way to store and manage your KEX tokens.

  1. TokenPocket: TokenPocket is a multi-asset wallet that supports Kira Network. It offers features like decentralized exchange integration and a user-friendly interface.

  2. iToken Wallet: iToken Wallet is another multi-asset wallet that supports KEX tokens. It provides a range of features, including decentralized exchange integration and robust security.

When selecting a wallet, consider factors such as security, convenience, features, and fees to ensure you choose the best option for your needs.

How to buy Kira Network?

To buy Kira Network (KEX) tokens, you can follow these steps:

Buying via a Centralized Exchange (CEX)
  1. Choose a Reliable Exchange: Select a trustworthy centralized exchange that supports Kira Network (KEX) purchases, such as KuCoin or AscendEX. Consider factors like ease of use, fee structure, and supported payment methods.

  2. Create an Account: Register on the exchange's website or app, providing the required information and setting a secure password. Enable two-factor authentication (2FA) for added security.

  3. Verify Your Identity: Complete Know-Your-Customer (KYC) verification, which may require varying information based on your nationality and region. This step is crucial for accessing more features and services on the platform.

  1. Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods. The required information may vary depending on your bank's security requirements.

  2. Buy Kira Network (KEX): Use your added payment method to purchase KEX directly with fiat currency if supported. Alternatively, you can buy a popular cryptocurrency like USDT and then exchange it for KEX.

Buying via a Crypto Wallet
  1. Choose a Wallet: Select a reliable and reputable crypto wallet that supports Kira Network (KEX). Ensure the wallet is compatible with your device.

  2. Download and Set Up the Wallet: Download the wallet app from the Google Play Store, App Store, or as a browser extension. Create a new wallet address or import an existing one, and securely store your seed phrase.

  3. Buy Kira Network (KEX): Purchase KEX directly using a supported payment method. If direct fiat-to-KEX purchases are not available, you can buy a popular cryptocurrency like USDT and then exchange it for KEX through your wallet or on a decentralized exchange.

Additional Tips
  • Research and compare different exchanges to find the most suitable one for you.
  • Check the exchange's reputation, read user reviews, and look for any complaints.
  • Be aware of fees associated with purchases, especially when using third-party payment processors.
  • Ensure you have a secure and reliable wallet to store your KEX tokens.

By following these steps, you can successfully buy Kira Network (KEX) tokens.

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History of Kira Network

The history of Kira Network (KEX) can be traced back to its inception as a blockchain-based protocol focused on data-sharing technology. The native token, KEX, is used to pay for network fees and other transactions on the platform. The project was founded by Milana Valmont, a seasoned blockchain consultant and fintech professional.

Kira Network's token, KEX, has a total supply of 300 million coins, with a significant portion of them currently in circulation. The token's price history can be tracked through various online platforms, which provide detailed data on its past performance, including open, high, low, and close prices, as well as trading volumes and market capitalization.

The project's market capitalization has fluctuated over time, reflecting the dynamic nature of the cryptocurrency market. At one point, the market cap was recorded at $14.10 million, indicating the asset's value in the eyes of investors. The token's trading activity has also been monitored, with significant volumes traded within 24-hour periods.

Kira Network's token is designed to facilitate various use cases, including supply chain management, data exchange, and financial services. Additionally, users can stake digital assets to receive rewards while maintaining liquidity and custody over their assets. The project's historical data provides valuable insights for investors and market analysts seeking to understand its performance and potential.

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How Kira Network works

Kira Network (KEX) is a blockchain-based system that employs a multi-bonded proof of stake (MBPoS) consensus mechanism to facilitate cross-chain interactions. This allows users to stake any virtual asset, including cryptocurrencies, stablecoins, digital fiat, and even NFTs, while maintaining full liquidity through natively supported staking derivatives.

Governance and Staking

The Kira Network has a governance module that enables holders of the native token, KEX, to raise and vote on proposals. These proposals can include upgrading the protocol, changing key system parameters, and setting the inflation rate and reward percentages for stakers. This decentralized governance ensures that the protocol's parameters are changed through community consensus.

Critical Components

The Kira Network consists of several critical components:

  • Kira Hub: This layer interacts with governance, settlement, and security functionalities on the network. It also facilitates linking with other connected distributed systems.
  • Kira Zones: These are independent sub-chains that connect to Kira Hub and have their own validators.
  • Kira Bridges: These provide connections between the Kira protocol and off-chain platforms that aren’t compatible with internet blockchain communications (IBC). They can connect to proof of authority (PoA) and PoS-powered systems.
  • Hunters: These monitor Kira Zones and report any misbehavior to Kira Hub, ensuring the integrity of the network.
Initial Validator Offering (IVO)

Kira Network uses an Initial Validator Offering (IVO) to drive fresh capital to new projects. In this process, investors stake their tokens with validators, who then interact with the projects. In return, investors earn a commission from mined blocks. This approach allows investors to maintain control over their assets and avoids negative liquidity issues.

Tokenomics

The KEX token is the native currency used for staking and governance purposes. It also serves as a reference for calculating the value of other tokens on the platform. Network interactions are charged in KEX to prevent spamming, and active participants, or validators, are incentivized through a layered design. For example, KEX holders enjoy lower network and exchange fees, while delegators can earn up to 99% of block rewards and validators receive half of the fees charged on the system.

Interchain Exchange

The Kira Interchain Exchange Protocol (IXP) is a scalable, trustless, and decentralized DEX module that allows users to stake and trade their assets directly. It is a native part of the Kira network and provides permissionless market access to any token in the interchain.

Overall, the Kira Network offers a unique solution for cross-chain interactions, staking, and governance, making it an attractive option for users seeking to generate revenues from various assets while maintaining liquidity.

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Kira Network's strengths

The token Kira Network (KEX) has several strengths that contribute to its potential success and value:

  1. Governance and Staking: KEX is used for governance, staking, and validating transactions within the KIRA Network ecosystem. This multi-faceted utility enhances its value and encourages holders to participate in the network's decision-making process.

  2. Cross-Chain Ecosystem: KIRA Network is designed to provide access to virtual currencies, digital fiat, and non-fungible tokens (NFTs) across different blockchain networks. This cross-chain functionality expands the reach and usability of KEX, making it a versatile token.

  3. Liquid Staking: The protocol allows liquidity providers to stake any digital asset, earning incentives from new blocks and transaction fees. This feature removes the cap on fee and block incentives for liquidity providers, making KEX more attractive to stakeholders.

  1. Token Rate Registrar: The Token Rate Registrar enables governance to whitelist foreign tokens, set exchange rates, and define limits on staking rewards. This mechanism ensures that KEX remains attractive and desirable for users and stakeholders to hold and use, maintaining the network's security and value.

  2. Strong Team and Partnerships: KIRA Network is developed by a team with diverse expertise, including full-stack developers, blockchain engineers, and technical architects. The project also has strategic partnerships with firms like AlphaBit, TRG Capital, and Math Wallet, which can help drive adoption and usability.

These strengths collectively contribute to the potential value and utility of the KEX token within the KIRA Network ecosystem.

Kira Network's risks

Kira Network (KEX) faces several financial risks that investors should be aware of. These risks include:

  1. Price Volatility: The value of KEX tokens can fluctuate significantly due to market conditions, regulatory changes, and other external factors, which can result in significant losses for investors.

  2. Regulatory Uncertainties: The lack of clear regulations and guidelines for cryptocurrencies can create uncertainty and potential legal risks for Kira Network and its investors.

  3. Technological Risks: The blockchain technology underlying Kira Network is still evolving and can be vulnerable to security breaches, hacking, and other technical issues that can impact the stability of the platform and the value of KEX tokens.

  1. Liquidity Risks: If liquidity providers withdraw their assets from the platform, it can lead to a decrease in liquidity, making it difficult for users to buy or sell KEX tokens, which can negatively impact the token's value.

  2. Market Risks: Changes in market conditions, such as shifts in investor sentiment or global economic downturns, can affect the demand for KEX tokens and the overall performance of the Kira Network.

  3. Security Risks: The decentralized nature of Kira Network makes it vulnerable to security threats, such as 51% attacks or other forms of manipulation, which can compromise the integrity of the platform and the value of KEX tokens.

  1. Insurance Fund Risks: Although Kira Network has an insurance fund in place, it may not be sufficient to cover all potential losses, leaving investors exposed to financial risks.

  2. Governance Risks: The governance structure of Kira Network, which relies on a complex system of councils and permissions, can be vulnerable to manipulation or mismanagement, which can negatively impact the platform's performance and the value of KEX tokens.

These financial risks highlight the importance of careful consideration and thorough research before investing in Kira Network (KEX).

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Did Kira Network raise funds?

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Kira Network's ecosystem

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Kira Network’s team

  • Milana Valmont: CEO and Co-Founder of Kira Network, a Fordham psychology graduate who transitioned into the crypto space and started Kira after meeting her fellow Slack member and Co-Founder Mateusz Grzelak.
  • Mateusz Grzelak: Co-Founder and CTO of Kira Network, an internchain pioneer who developed the native consensus technology called Multi Bonded Proof of Stake (MBPoS).

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