On KleverChain, the Klever Finance Token (KFI) represents community governance. As promised and showcased in our phased KleverChain rollout plan, the swap has now been made available for all KFI (TRC20) holders.
Using your Klever Wallet, K4 app, you can now securely swap your KFI (TRC20) tokens to KleverChain Mainnet at a ratio of 1:21.
Important KFI notice:
- KFI (KDA) cannot be swapped back to KFI (TRC20)
- KFI (KDA) price will only be displayed once listed on Klever Exchange
- Once KFI (KDA) is listed on Klever Exchange, you will be required to swap all KFI (TRC20) to KleverChain
- From July 28 at 01:00 PM, Klever Exchange will accept KFI (TRC20) deposits, however, the withdrawal will only be of KFI KDA.
By using an on-chain voting system, KFI token holders can control the app protocol configuration (like application fees and referrals) as well as approve new apps. KFI owners are eligible to receive application rewards in KLV.
Read the Klever Blockchain Whitepaper – KFI (Page 62)
As part of the KFI governance community, each application can decide its own fees, and 100% of the fees will be distributed autonomously to all KFI holders, who will need to manually claim the rewards. To receive application rewards, KFI holders must freeze their KFI. As one of the main features, network participants can add KLV as liquidity for all Klever-based Tokens in order to mine KFI tokens.
To summarize, KLV is the main utility token of KleverChain, while KFI is the blockchain’s governance token.