Update 4.2.5 introduces support for Klever Finance Token (KFI) Staking & Devicoin (DVK) Staking in Klever app. The update is now available for both Android and iOS.
Update 4.2.5 introduces support for Klever Finance Token (KFI) Staking & Devicoin (DVK) Staking in Klever app, and the upgrade is live for Android in Google Play and iOS in the App Store.
The KFI token is the governance token of the upcoming Klever Blockchain, and was created in the spring of 2021 through a 629 million KLV burn-mining event that infused a value of $77 million USD at the time.
In order to be eligible for the DVK airdrop as well as future airdrops of tokens created in the Klever ecosystem, KFI holders will need to stake their KFI in Klever app.
There is no current APR on KFI Staking in Klever app, but in order to receive the benefits of being a KFI holder even before the launch of the Klever Blockchain, KFI holders can now stake their tokens in Klever app to receive the DVK airdrops.
DVK staking follow the same rules as KLV Staking. DVK Staking starts at 16% APR, and holders can claim, unfreeze and withdraw with the same time as KLV staking.
Devicoin (DVK) was created during last week’s KLV burn-mine event, where an overwhelming demand for DVK led to the designated hard cap being filled after less than 60 seconds.
Over 51 million KLV was sent to the burn address in under one hour, but due to a series of technical issues with our Tron nodes, our APIs were not able to compute many blocks and caused an extension of mining duration for 56 minutes.
As result, Devikins and Klever teams decided to honor all burns operations during the mining event time of 60 minutes. This will further increase the mining event allocation from 400M to 1B DVK tokens that will be reflected in Devikins white paper.
DVK token distribution will occur on July 29.