At Genesis Block, Klever Foundation will manage and operate all network validators to ensure stability ahead of public validators joining consensus in our journey to decentralization.
Rollout Phases of KleverChain Mainnet Features
*Updated: July 7, 2022
Phase 0 – Week 1 (July 1 – July 7)
KleverChain’s stability is essential during Phase 0. As part of this rollout period, we will be focusing on the stable nature of the blockchain, initiating activities on-chain, and responsibly activating key features for our users and developers in planned stages. Initially, KleverChain validators will be deployed by Klever Foundation to ensure stability and reliability for the blockchain launch.
This period requires users to update their Klever Wallet, K4 apps in both app stores to use the Swap bridges displayed below.
Klever Genesis Block goes live. Klever believes that everyone deserves access to essential financial tools and Klever’s blockchain launch marks a game-changer for the ecosystem.
New Features Rollout:
- Send and Receive KLV (Mainnet) coins and KDA tokens via K4, K5.
- KleverChain Mainnet Explorer goes live.
- Kapps Demo Page goes live for developers for testing purposes.
- KLV (Mainnet) SWAP bridges go live on K4 during Phase 0:
- KLV (TRC20) -> KLV (Mainnet)
- KLV (Mainnet) -> KLV (TRC20)
- KFI (TRC20) -> KFI (Mainnet) (1:21)
New KLV Supply Following Mainnet Migration
As previously announced, the KleverChain Migration will move the remaining Klever Foundation KLV reserves from the Tron Network to Klever Blockchain, creating the new supply of 8.874 billion KLV.
- KLV supply adjustment: 5.4 billion KLV + 3.4 billion KLV = 8.874 billion KLV
- Klever will distribute the migrated KLV Foundation reserves among 39 Klever Foundation addresses on KleverChain, available for public audit for transparency purposes.
- The total max supply of KLV will never exceed 10 billion KLV. The burn of KLV that occurs for each transaction on KleverChain will assist in our goal toward a deflationary model.
- Every January, we will burn a significant amount of KLV based on the previous year’s Klever Swap revenue. Using this mechanism, approximately 5B KLV tokens will be burned and removed from circulation.
- In the coming years, roughly 5 billion KLV will be burned, including some 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, KleverChain 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.
Phase 1 – Week 2 (July 8 – July 14)
Our Phase 1 continues to focus on stability while introducing a new on-chain Klever NFT platform and finalizing the Klever Hackathon Dev Competition judging criteria and results.
New Features Rollout:
- Klever On-Chain NFT Platform Soft Launch
- Klever Hackathon Judges & Considerations
Phase 2 – Week 3 (July 15 – July 21)
It’s a big week for KleverChain in Phase 2. A range of new features will now become available, including the official launch of our new Klever On-Chain NFT platform, which introduces tools to mint NFTs.
There are other important milestones including the listing of KLV (Mainnet) on Klever Exchange, the introduction of KLV (Mainnet) Liquidity Pools on Klever Exchange, and the availability of staking, sending and receiving in Klever Wallet, K5, as well as KDA in Klever Kustody.
New Features Rollout:
- Klever On-Chain NFT Platform Public Launch
A tool to buy, sell and mint NFTs on KleverChain
- KLV (Mainnet) is listed on Klever Exchange
- Staking KLV (Mainnet) on K5 goes live
- Send & Receive KLV (Mainnet) and KDA tokens in Klever Kustody
- Hackathon Dev Competition Results Announcement
- KLV (Mainnet) -> All available Swap pairs for KLV (TRC20)
- All available Swap pairs for KLV (TRC20) -> KLV (Mainnet)
Phase 3 – Week 4 (July 22 – July 28)
A major milestone in Phase 3 is the official release of the Klever Web Extension on the Chrome web store, allowing millions of users to engage with KleverChain via Chrome, Chromium, Opera, and Edge web browsers. With this, Klever Exchange Web Extensions can be fully activated, providing seamless access across the Klever Blockchain ecosystem. Among the key events are the Mainnet Bugs and Security Bounty Hackathon Announcement as well as the long-awaited Hackathon Content Creators Announcement.
New Features Rollout:
- Release Klever Web Extension on Chrome web store
(Chrome, Chromium, Opera, and Edge)
- Klever Web Extension integrated with Klever Exchange
- Conclusion of KLV Mainnet Migration Staking Program
- Hackathon Mainnet Bugs and Security Bounty Announcement
- Hackathon Content Creators Announcement
- KLV (Mainnet) liquidity pools (4 pools)
Phase 4 – Week 5 (July 29 – August 4)
Klever Wallet, K5 activation of a range of functions and services will make KleverChain more accessible to users in Phase 4. Among the biggest features are staking, swapping, and browser integration among others, while NFT listings and external validators joining consensus on KleverChain follow closely behind.
New Features Rollout:
- List NFTs in KleverChain by Klever Marketplace
- Staking KDA tokens on K5
- Browser integration with KleverChain on K5
- New application SWAP WEB goes live – accessed via Browser in K5 or Klever Extension
- Integrate Klever Extension with SWAP WEB
- External validators are invited to join consensus
- KleverChain Mainnet Genesis Block will not mint new KLVs for block rewards because all validators will initially come from the Klever Foundation until Mainnet is stable. KFI governance token holders will propose and vote once Mainnet is stabilized to activate public validators’ participation and payout of block rewards.
Klever considers the crypto economy to be a blossoming tree. These roots can be traced back to two decades-old technologies; cryptography and distributed computing. Satoshi Nakamoto merged these technologies to create Bitcoin, the world’s first blockchain.
Bitcoin is unquestionably the trunk and beating heart of the crypto economy.
As for the branches, they are layer 1 blockchains that facilitate smart contracts such as Ethereum, Solana, Tron, Binance Smart Chain (BSC), and other protocols used to power decentralized applications (dapps) on the market today.
Dapps, products, and services built on top of smart contract platforms are the leaves, fruits, and eventual flowers growing on top of the branches.
There are many benefits to smart contracts, but coding them is difficult and executing them is expensive. Over the past few years alone, smart contracts have been exploited and hacked for billions of dollars, even with expert programmers writing code.
Cryptocurrencies have evolved tremendously since Klever launched its first wallet in 2017, thanks to an increasing number of industry players, more users around the globe, mainstream adoption, and a wide range of products.
Today, building popular blockchain-integrated dapps requires specialized and still rare development skills, making it very challenging to launch a crypto project and integrate the most helpful and essential features. In addition, blockchain development is becoming more complicated and more expensive every day.
For developers to integrate crypto services and build blockchain applications quickly, we must provide straightforward, simple, cost-effective, and time-saving tools.
Making it easier, safer, cheaper and faster to build and deploy a decentralized application on KleverChain, developers will find themselves in an obvious position as they will have more time and funding to prioritize what truly matters to them: their own project and its development.
We are convinced that by working increasingly coordinated and in close cooperation with projects and developers who build on the blockchain, the KleverChain branch of the tree of crypto will grow into its own flourishing ecosystem, with both beautiful leaves of use cases and blossoming flowers supporting public financial services.
Crypto is still difficult, but it really shouldn’t be. That’s where Klever comes in, on KleverChain, anyone can build.
What are Kapps?
Klever Apps (Kapps) are on-chain applications developed by Klever Finance together with and for the Klever developers community.
KleverChain will offer pre-built and ready-to-use apps and functionalities native to the blockchain, not merely a smart contracts platform.
I would like to become a Klever Blockchain Validator. How do I do that?
To be promoted as a validator, as well as to operate a Masternode, a user must have a minimum amount of 10 million KLV in total self-staking and delegation. From that total of 10 million KLV, the self-stake amount by the validator themself must be at least 1,5 million KLV, while the other 8,5 million KLV can be from the delegation from KLV holders. Read more here
Does KleverChain use Proof of Stake or Proof of Work?
The consensus algorithm we use on KleverChain is based on the Proof-of-Stake consensus mechanism. On Klever Blockchain, POS means that entities, companies, or individuals, based on their assets, are selected as validators, and their task is to validate transactions and mine blocks.