Every week, there are many new crypto projects launched, and they all have a team behind them.
Developers, coders, designers, and other team members are necessary for creating a crypto project or building a blockchain on top of an existing one.
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Any blockchain network’s primary use is to create fungible and non-fungible tokens (NFTs). This functionality serves as the foundation for tokenizing software, games, and other digital goods, which serves as the primary source of shared ownership for the crypto economy and web3.
With a mission to make crypto simple and allow users to build their own tokens, Klever has built its own blockchain, KleverChain on which any person with no coding or developing knowledge can build an application known as Kapps (Klever Digital Assets).
KDA are incredibly quick, dependable, and secure, and they may be used inside Klever Network apps. Without the need for complex smart contracts, Klever Blockchain allows native token creation and functionalities.
Anyone can build a KDA by utilizing Klever Wallet browser or the web based Klever Blockchain Explorer. Users can build native tokens with KleverChain without having to deal with challenging smart contracts.
KDA Use cases
Tokens can be made for a wide range of use cases, including DeFi projects, stablecoins, stock derivatives, notary documents, game assets, inventory control, supply chain management, staking, rewards, logistical records, loyalty programs, collectibles, NFT gift cards, stored value, digital ownership, and much more.
All KDAs have the following features as a minimum: Additionally, each KDA has built-in royalty capabilities that enable artists to customize all settings.
It is unprecedented in the blockchain community to be able to include royalties for both fungible tokens and NFTs as a standard feature directly on-chain, and KleverChain will be the first blockchain protocol to do so.
KDA can be built to have four types of royalty features that are defined by the token creators: NFTs Fungible tokens (royalty percentage defined by creator) Market & Transfer Percentage Fixed price in KLV (for NFTs the fixed price is always in KLV, but for fungible KDAs fixed royalty fee is in that specific token).
Staking KDA tokens
Staking has grown to be a crucial tool for cryptocurrency projects all over the world to assure long-term community support while providing rewards to its token holders in exchange for their support and belief in the project.
Developers will be able to leverage KleverChain’s protocol for their own KDA-based tokens and choose and manage the inflation method for the token instead of having to construct smart contracts for staking.
The option to establish a staking mechanism will be available to project developers when they issue KDAs, allowing each token holder to participate in staking rewards.
For instance, if you as a creator decide to offer 10% APR, the token holders who freeze and stake it will receive incentives hourly for as long as they do so.
In order to make their KDA Staking available to all of their holders and Klever users through both the mobile Klever Wallet app and the Klever Wallet Extension for the web, projects can also seek to have their KDA Staking become native in the Klever Wallet.
As now you have understood what KDA is, follow these steps to create your own token.
Who can create KDAs?
Anyone without any software & technical skills will be able to create a KDA using Klever Wallet or via the Klever Blockchain Explorer web version. KleverChain offers native token creation and features without the need for complicated smart contracts.
How to create a KDA? Part I
KDA can be issued by anyone using Klever Explorer, and the price of creating one was 10,000 KLV and currently costs 20,000 KLV. The asset issue cost may change based on the community proposal. You will be able to start at: ‘kapps.klever.finance/connect‘
How to create a KDA? Part II
In order to create your KDA, you have to have your wallet connected to the Mainnet.
If you have one, just drop the PEM file in the box. But if you don’t have one yet, click on ‘Create Account’ and after downloading the PEM file, follow the instructions on docs.klever.finance/klever-blockchain/how-to-create-a-wallet.
How to create a KDA? Part III
After logging in, you’ll start creating your KDA (or subtoken) with very simple steps in an almost self-explanatory form to fill in important info like the name of the token, owner, initial supply, max supply and more.
How to create a KDA? Part IV
After filling out all the info and options (about royalties, properties and more), click on ‘Create’ and then the Transaction Payload will be displayed, then you click on ‘Send’ to finalize the process and to see the hash of the new token.
With just a few simple steps, this is how KDAs are born on KleverChain.
