This is notable because of the laid down vision and road map highlighted by the development team and the core team members to achieve the laid down goals.
Blockchain ecosystem – what is it?
A blockchain ecosystem basically refers to a network of participants in a blockchain network with shared business objectives, relationships, and processes. The network is capable of creating and transferring business value efficiently. At the same time, it is important to note that blockchain is actually a complicated alliance that brings in various actors with shared goals.
What is KFI?
The Klever Finance Token (KFI) is the Klever Blockchain Application governance token. KFI token holders have complete control over the app’s protocol configuration (like application fees and referrals) and approval of new apps using an on-chain voting system. KFI owners are entitled to receive application rewards in KLV. This is visibly a group of individuals having the right to vote on the governance of the Klever ecosystem and this is practically done in a decentralized system of governance.
The KFI owned either from purchases within the trading arm of the Klever Exchange, Klever Wallet Swap technology, or other trading platforms like Trontrade will be utilized as the users voting power with respect to the development and deployment of (Klever Apps) kApps.
The KFI token can also be purchased in the integrated Klever wallet app by means of swap action which can convert the required token to the KFI token and instantly deposited it into the Klever wallet of the individual user.
The use of KFI as a relationship token within the Klever network strengthens the idea of Klever’s effort to create a strong and sustainable community since the generation of liquidity will help in the execution of the most diverse orders carried out in our wallet and exchange. As more apps are developed on the Klever Blockchain, more value flows into liquidity pools through KLV and more rewards are distributed to the KFI governance community.
What are the benefits of the KFI?
KFI holders will be able to participate in the following capacities:
- New application suggestions (kApps). Various projects will be developed and deployed on Klever Chain which is capable of processing millions of transactions per second, making it one of the fastest blockchains in the crypto space. Such that the KFI governance token holders would be able to suggest new applications to be deployed on the Klever blockchain.
- KFI owners are entitled to receive application rewards in KLV: Each application can have their own set of fees, and as an autonomous system, the fees will be distributed to the KFI governance community. KFI holders will be required to freeze their KFI to receive application rewards. It is very similar to staking the KFI tokens to yield KLV tokens and subsequently increase the value of the KFI tokens.
- Ability to provide liquidity: As a main feature within the Klever network participants are able to add KLV as liquidity for all Klever-based Tokens in order to mine KFI tokens.
A total of 150,000 KFI tokens were minted by the Klever Foundation during the genesis event of the KFI governance token and distributed through an airdrop.
KFI Network Rewards will distribute KFIs based on a halving event every four years over the next 20 years. Thereby giving value to the KFI token due to the expected difficulty in minting the KFI over a period of time.
The Klever team is very futuristic and determined to make the entire ecosystem a truly decentralized one where no single individual can determine how a project is listed and run on the Klever blockchain. This in a long run brings a form of unity among everyone from the team members, to the community within the ecosystem not considering your age, creed, religion or race as we are truly a global family in a decentralized world.
A Klever family is a happy family.