KFI, the governance token of the Klever Blockchain, will be listed today, March 31 on TronTrade.io with an initial KFI/TRX trading pair. KFI was mined last week through the burning of 629M KLV.
KFI, the governance of the upcoming Klever Blockchain, will be listed today, March 31 on TronTrade.io with an initial KFI/TRX trading pair.
The trading of KFI/TRX will go live on TronTrade after 2pm UTC on March 31.
Read our article on the successful KFI mining and subsequent burn of 629 million KLV, at the value of 77 million USD, directly infused into the minting of KFI by the KLV community:
What is KFI?
The Klever Finance Token (KFI) is the Klever Blockchain governance token. Only 150,000 KFI will initially be mined and the token is scarce in nature.
A total max supply of 1,000,000 KFI will ever be created through a halving process, and the full minting process will autonomously be taking 20 years to complete.
KFI token holders will have an essential influence and crucial responsibility over the Klever Blockchain’s function and have complete control over the apps protocol configuration (such as application fees and functionalities), as well as approval authority over new apps using an on-chain voting system.
Inside the Klever Blockchain, KLV is the main utility token used for transaction gas and energy usage - KFI is the governance token for the Klever community and its main utility is to empower a world-wide distributed community to innovate in p2p technologies and advance decentralized finance products and services.
KFI holders will be able to use KFI on Klever Blockchain to:
- Vote for new app proposals.
- Vote for change of app proposals.
- Vote for new projects.
- Earn network rewards when participating in the governance of the blockchain.
Important note: KFI has no intrinsic value, but is given value through the utility and usage of the Klever Blockchain. KFI is not an investment and not a token sale, but instead, KFI is an opportunity to participate in the governance of the Klever Blockchain and be part of one of the fastest growing blockchain communities in the world.
KFI Rewards & Governance
Klever Blockchain will distribute 100% of the protocol fees as KLV network rewards to the KFI governance community as a reward for the responsibility and essential work involving in governing the blockchain. Each Klever Blockchain app, or kapp, can have its own set of fees. Rewards are fees automatically collected on apps.
The power to approve or deny new kapps lies exclusively in the hands of the KFI governance community.
By using the KFI governance voting system, KFI holders will ensure that Klever Blockchain will be free of scams and suspicious apps since the KFI governance community are the one reviewing and approving the deployment of new kapps.
What makes Klever Blockchain different?
A blockchain network is only as valuable as what the platform offers its users in terms of usable products and participation in the network’s activities and reward structure.
We are building and launching the Klever Blockchain in 2021 to allow users on a global scale to access simple, secure, indispensable, and powerful financial services and decentralized crypto products.
Blockchain Built to Empower
Klever Blockchain will enable developers to build decentralized applications like never before. Building and deploying blockchain apps should be simple, cheap, and easy for all developers to do, and that is exactly what Klever Blockchain will enable.
Instead of being a smart contracts platform, Klever Blockchain will provide prebuilt ready-to-use applications and features that are native to the blockchain. Klever Blockchain Apps, also called kapps, are on-chain applications developed by the Klever Foundation and Klever Developers Community.
Klever OS SDK for Developers
These ready-built features will be made available for any and all developers to implement through Klever OS Software Development Kit (SDK) their own interface solution. With Klever OS’ simplifying approach developers do not need to understand crypto or blockchain anymore.
This innovative approach will significantly enhance today’s dapp functionalities and guarantee a smoother onboarding to the Klever Blockchain’s native infrastructure, making it magnitudes more secure, simpler to build, and cheaper to deploy.
KFI Mining for the Next 20 Years
KFI mining will take place on the Klever Blockchain when users provide liquidity for certain KLV-based token pairs or liquidity pools. This mechanism of generating KFI is a result of the amounts allocated for liquidity we call KFI Network Rewards.
This will be the primary way Klever users can mine and accumulate KFI over the next 20 years on the Klever Blockchain.
To clarify, KLV Coin is the Klever Blockchain's main utility token, and KFI is the governance token of the blockchain. Like all other tokens and cryptocurrencies, KFI has no intrinsic value but is given value through the utility and increased usage of the Klever Blockchain.
Read the Klever Blockchain White Paper by clicking the button below: