Kira Network (KIRA)

 Basics

• Founded in:
• Mainnet release:
• Based in:
• From its Github (20-9-2020):

"A staking derivatives exchange protocol which provides liquidity to assets at stake, as well as permissionless and trustless exchange of those assets."

History

• From their blog (17-9-2020):

"Kira was initially conceptualized as a decentralized cross-chain exchange based on the Cosmos network in 2018. They were building DeFi even before DeFi was invented as a term. Their idea of locking tokens to mine a new currency can now be seen in many “agricultural revolution 2.0” Uniswap DeFi food tokens in the form of yield farming & AMM pools. What Kira is doing differently is that the more assets staked in the network the more the security increases, while also making the locked assets liquid by minting a new token (staking derivative) that can be traded in the form of sBTC, sETH, etc."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Cosmos

How it works

• From its Github (20-9-2020):

"Uses a Cosmos SDK framework with a custom MBPoS consensus. Kira consensus provides ways to prevent creation of sybil validators and security leaks through governance driven node curation. Kira consensus is geared towards in-house validator hosting rather than strong reliance on the large cloud infrastructure providers."

Staking

• From its Github (20-9-2020):

"Ensures locking assets on the destination chain (Kira Network) by a full validators set - mechanism is built into the consensus. Kira shares portion of the block and fee rewards with delegators in exchange for increasing network security and exchange protocol liquidity. Effectively Kira increases its own security with growing amount of assets at stake. There is no limitation regarding types of tokens that can be staked, which means that even staking of NFT's, commodities, fiat, stablecoins is possible. Kira further allows staking on leverage - tokens can be staked on the chain of origin and Kira at the same time, as long as the sum of possible slashing penalties is lower then 100%."

Their Other Projects

• From their blog (17-9-2020):

"Kira Network itself is a hub providing and incubating DeFi products such as the Interchain Exchange Protocol (IXP) and the Initial Validator Offering (IVO), where investors do not spend their money but delegate their assets to mine new tokens and maintain full liquidity of their capital. All while earning fees & block rewards."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Competition

• It names StaFi as competition and has a comparison up on its Github (20-9-2020).

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

Funding

• From its Github (20-9-2020):

"Charges network fees for interacting with its network and exchange protocol. The core business model works by assuming that more PoS networks will natively support staking derivatives or more products similar to Stafi enter the market. With growing number of derivatives and tokens in the ecosystem Kira can offer market access and liquidity to greater number of networks and assets. Finally Kira allows token holders to utilize 100% of their capital regardless of the token type. Kira not only does NOT charge any commission for staking but pays out additional revenues in form of block and fee rewards. Growing number of assets at stake probabilistically increases liquidity of the exchange protocol which in turn increases trading activity, thus increasing revenues from the network fees. Growing revenue from the network fees provide more incentives to stake even greater number of assets. To summarize, the greater the number of PoS networks provide native staking derivatives the bigger the potential and utility of the KIRA Network."

Partners 

• Partnered with Mantra DAO (4-10-2020).