• Latest
  • Trending

Klever Burns 379 Million KLV Generated From 2020 Klever Gross Revenues

February 3, 2021
The Impossible Finance x Aura Network x Klever Exclusive Whitelist Allocation Campaign

Win AURA whitelist allocation via Impossible Finance’s Launchpad, participate now

July 5, 2022
Why build our own Blockchain?

Why build our own Blockchain?

July 4, 2022
Blockchain Scalability

Scalability & Performance on KleverChain

July 4, 2022
Apply to write Klever News content

Apply to write Klever News content

July 4, 2022
Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

June 30, 2022
South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

June 29, 2022
buy KNC

How can KNC be used in Klever Wallet

June 29, 2022
ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

June 28, 2022
Bitcoin reaching its mid-halving: Reasons & forecast

Bitcoin reaching its mid-halving: Reasons & forecast

June 28, 2022
Blockchain tech is playing a powerful role in LGBT projects

Blockchain tech is playing a powerful role in LGBT projects

June 28, 2022
The difference between layer 1 and 2 blockchains

The difference between layer 1 and 2 blockchains

June 27, 2022
regulate

Governments are rushing to regulate cryptocurrencies

June 27, 2022
Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
No Result
View All Result

Klever Burns 379 Million KLV Generated From 2020 Klever Gross Revenues

Warren Manuel by Warren Manuel
February 3, 2021
in Announcements
Reading Time: 3 mins read
418 5
A A
0
Share on FacebookShare on Twitter

The February 2 burn effectively removed 9% from KLV’s circulating supply and the 379 million KLV burned are equivalent to $2,199,610 million in today’s KLV value. The burn will become an annual event.

Klever has officially burned 379 million KLV on February 2, representing around 9% of KLV’s circulating supply, which has now been removed from KLV’s supply.

The burned 379 million KLV were generated from Klever gross revenues in 2020, and amounts to above $2.19 million at today’s KLV price.

You might also like

The Impossible Finance x Aura Network x Klever Exclusive Whitelist Allocation Campaign

Win AURA whitelist allocation via Impossible Finance’s Launchpad, participate now

July 5, 2022
3.3k
Apply to write Klever News content

Apply to write Klever News content

July 4, 2022
3.6k

You can find the 379M KLV burn transaction hash by clicking the button below:

This burn will become an annual event, in which each beginning of the year in January the Klever team will calculate the revenue made from last year, and remove KLV from the token’s circulating supply at the equivalent USD value that previous year’s revenue amounted to.

As the usage of the Klever Swap and Klever Ecosystem products increase over the coming years along with Klever’s revenue, so will the annual KLV burn amount.


58% Of All KLV Now Staked

Following the burn, KLV’s circulating supply now stands at 3,948,109,138 KLV, with more than 58% staked inside the Klever app, amounting to a total of 2,304,442,525 KLV frozen and staked by thousands of Klever users globally.

The KLV Staking feature rewards believers in KLV with hourly rewards and increases the current circulating supply at a set rate by using an inflationary smart contract. This mechanism has been implemented to reward Klever users who are staking KLV to support the project.


Previous KLV Burns

Prior to today’s multi million dollar KLV burn, Klever has been conducting four daily burns each and every day, further removing KLV from the supply. Over the course of 2020, the Klever Team burned a total of 35,941,960 KLV, excluding today’s burn of 379 million KLV.


KLV Supply

The total max supply of KLV will never exceed 10 billion KLV. Each year in January, we will be burning a significant amount of KLV based on the annual revenue from Klever Swap of the previous year. In total, we will burn and remove from circulating supply a total of around 5B KLV tokens will be destroyed using this mechanism.

Some of these roughly 5 billion KLV that will be burned over the coming years are part of the newly minted KLV created through Klever Staking. The inflation rate for the new KLV are as follows: the end of 2020 it was 12 %, 2021 ~ 10 %, 2022 ~ 8 %, 2023 ~ 6 %, 2024 ~ 4 %, 2025 and onwards ~ 2 %.

With this methodology in mind, Klever aims to achieve a deflationary model for KLV, in which the annual burn of KLV generated from Klever’s gross revenue will exceed the newly minted supply of KLV created through Klever Staking.

Sincerely,

Klever Team

Previous Post

WallStreetBets, Bitcoin & The Power of Decentralized Communities

Next Post

OFFICIAL: KuCoin Exchange To List Klever (KLV) On Friday, February 5

Warren Manuel

Warren Manuel

As the global Social Media Community Manager for Klever, I use my digital marketing and development skills to help grow the brand across many different channels, expanding the brand's reach, generating leads, and helping improve conversions, and repeat business.

Related Stories

The Impossible Finance x Aura Network x Klever Exclusive Whitelist Allocation Campaign

Win AURA whitelist allocation via Impossible Finance’s Launchpad, participate now

by klever
July 5, 2022
0
3.3k

The Aura Network is a scalable, agile, and seamless Layer-1 blockchain with an ecosystem designed to accelerate the adoption of...

Apply to write Klever News content

Apply to write Klever News content

by Warren Manuel
July 4, 2022
0
3.6k

Do you possess the skills to write original, quality crypto and blockchain content? Interested in joining our team of writers...

Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

by klever
June 30, 2022
0
6.2k

At Genesis Block, Klever Foundation will manage and operate all network validators to ensure stability ahead of public validators joining...

Introducing KleverChain, Klever’s own blockchain; whitepaper outlines futuristic goals

Introducing KleverChain, Klever’s own blockchain; whitepaper outlines futuristic goals

by Warren Manuel
June 24, 2022
0
27k

Klever is a top-tier provider of public blockchain infrastructure for the internet. Our mission is to simplify crypto for everyone...

Next Post

OFFICIAL: KuCoin Exchange To List Klever (KLV) On Friday, February 5

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
3.3k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
3.4k

Popular Story

  • bitcoin news

    Bitcoin battles back from record losses to $21,000

    1839 shares
    Share 736 Tweet 460
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    2332 shares
    Share 933 Tweet 583
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    1489 shares
    Share 596 Tweet 372
  • Love Monster joins forces with Klever

    2379 shares
    Share 952 Tweet 595
  • Rollout Phases of Klever Blockchain Features

    1108 shares
    Share 443 Tweet 277

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

The Impossible Finance x Aura Network x Klever Exclusive Whitelist Allocation Campaign

Win AURA whitelist allocation via Impossible Finance’s Launchpad, participate now

July 5, 2022
Why build our own Blockchain?

Why build our own Blockchain?

July 4, 2022
  • Marketcap
  • Sponsored Content
  • Advertise
  • Contact Us

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Clear Clear All
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00