The next cross-chain star, focusing on the decentralized on-chain financial hub KIRA Network

On November 26, Milana Valmont, the founder and CEO of the inter-chain exchange protocol KIRA Network, and Kira Core's CTOMateusz Grzelak were guests at the Rhythm AMA live broadcast room, and exchanged ideas on the original intention and future development of the KIRA project .

The following is the content of the AMA conversation, organized by Rhythm BlockBeats Release:

Rhythm BlockBeats: Could you please briefly introduce yourself and KIRA to Rhythm fans? What is its vision and mission?

Milana Valmont:My name is Milana Valmont, Originally from New York with a background in corporate finance. I entered the crypto space as an investor in early 2017, and later that same year volunteered as a Binance Angel.

I then worked as a project manager for Adcoin.com and a consultant for Sentinel dVPN. In 2018, I joined the Knoks platform as Head of Strategy, and by mid-2019, I was fully committed to KIRA as the CEO of the project.

KIRA is a decentralized network that allows users to operate 100% of their own funds and hopes to provide A service that allows any digital token to enter the market. We are making Kira the possibility to stake any digital asset, cryptocurrency, stablecoin or even NFT, and then earn staking and trading rewards.

KIRA solves the security of PoS consensus, the liquidity of risk assets, and even There are many issues such as the practicality of NFT assets. I think the standout aspect of KIRA is that it's the first network to remain secure with ever increasing token storage, which is completely different from other PoS projects. But it's not just about security and liquidity of assets, it's about using the liquidity of all these pledged tokens to drive the economy and deploy in KIRA dApps on top of it. This removes the biggest limitation of any decentralized financial product: access to capital.

Mateusz Grzelak:I am Mateusz , CTO of KIRA Core (Rhythmic Note: KIRA Network is a decentralized network designed by the KIRA Core team, but its network governance rights are owned by network validators.). I am an electronic engineer and started working in the encryption field at the end of 2011. In the past 3 years, I have been involved in the field of interchain/web3 ecosystem, working as an R&D developer at Barclays Bank, and then in the United States. Settle Finance served as lead infra engineer, and later worked as a product manager at Bity, a crypto trading platform in Switzerland. Shortly thereafter, I co-founded with Milana KIRA .

Our vision has always been to develop a self-sustainable and self-evolving network, fully run and controlled by the community , so as to avoid the small circle of encrypted whales or rich people. Our goal is to connect the digital and real-world economies, not only using the value of assets as a means of providing P2P financial products, but more importantly, using the value of physical assets to secure a decentralized network.

Rhythm BlockBeats: How did you come into contact with the field of blockchain and encrypted assets? How did you come up with the idea of creating KIRA?

Milana Valmont: In the encrypted market, you need to observe and follow Trend, we are not doing a scientific experiment for ourselves (KIRA we founded) or just want to do a scientific experiment, we want to do something beyond for the sake of real encryption users. So we pay attention to the needs of the ecosystem. Our initial idea is to provide proper market segment access for any digital asset in the interchain ecosystem. We hope that people can use their capital instead of holding money and doing nothing. measures. This situation is very common in bear markets.

Rhythm BlockBeats: May I ask why KIRA chose to achieve the goal of "decentralized on-chain financial hub" in the Cosmos multi-chain ecosystem?

Milana Valmont:We are also actually building our own completely independent network. Cosmos, Polkadot, and KIRA can all be considered "hubs" that facilitate access and hosting of P2P services. The difference is that instead of focusing more on the financial aspect of cross-chain communication, KIRA focuses more on the actual security layer and attracting capital inflows through the economic power managed by our network's governance system.

We chose to integrate Cosmos IBC between Polkadot Cross-Chain Messaging (XCMP) and a custom Ethereum bridge agreement to show as much as possible the inevitable future of Web 3.0 and its client development.

Rhythm BlockBeats: We know that KIRA is powered by Tendermint and innovatively launched MBPoS, can you explain the details? Is KIRA trying to solve any problems that still exist in other public chains?

Mateusz Grzelak: Yes, the inherent problem of PoS in the Web3 environment is the insecure value transfer of external networks. Unless the pledged asset value is lower than the risk value, it is guaranteed that the verification node can operate honestly, but this will greatly limit the role of the PoS consensus in financial applications.

This is where MBPoS differs significantly from current PoS implementations in that its security does not depend on any single The value or distribution of tokens, just like the value of multi-collateralized DAI is not dependent on the volatility of individual assets.

In the case of MBPoS, there is no upper limit to its value, which means that no matter how much money is deposited into the network, There is always more risk. Put it this way, ensuring "trust" is more important than motivation for misbehavior - something no other PoS consensus can provide, as the value of any single asset is always final.

Finally, all tokens involved in MBPoS transactions are still liquid, tradable and transferable . This increases security because not only are tokens not concentrated on centralized trading platforms that provide staking services, but during times of heightened market volatility, users do not need to rush to undelegate tokens, and users can simply use one type of pledged token (e.g. cryptocurrency) trade another type of collateralized coin (e.g. stablecoin) to protect against any potential losses due to market conditions.

Rhythm BlockBeats: May I ask about the economics of KIRA’s native token KEX How is the model designed? What are the uses of tokens for KEX holders?

Milana Valmont: The economy uses a positive feedback loop to attract users and increase TVL, it starts with users depositing their tokens, as the governance of the network attracts users to stake. This leads to increased security due to the increased TVL. KIRA Consensus (MBPoS) further guarantees the liquidity of all pledged tokens introduced into network activities, increasing KIRA Fee income generated by dApps deployed on , such as our interchain swap protocol. Growing fees reward revenue, which in turn incentivizes users to stake more tokens, and the cycle repeats.

KIRA The token (KEX) acts somewhat as a reserve currency for the value of the staked tokens. KEX is the most efficient way to generate income from our network operations through block rewards and fee rewards. Owning KEX also enables users to become validators and part of governance to participate in decision-making processes such as defining inflation or interest rates.

Rhythm BlockBeats: Due to the original MBPoS mechanism, KIRA The ecology allows the pledge of various types of assets (even including NFT), so will this affect the demand for KEX from the side?

Mateusz Grzelak: Yes, it will have a positive and value-enforcing impact on KEX. The more coins that can be staked, the more KEX will grow in value, as KEX is always the most efficient and stable way to generate income from network operations regardless of market conditions.

Each new token added to MBPoS not only increases the security of the network, but as mentioned earlier, Network activity and fee income are also added, which are then shared with all token holders. The governance of the network manages the staking rate in order to optimize the process according to the current market conditions in order to attract the greatest possible value and number of users.

Rhythm BlockBeats: We know that KEX has just conducted a public offering, can you share with you the situation of the public offering? So for fans who missed the public offering, how can they get KEX? Do you have any plans to list on the exchange in the future?

Milana Valmont: KIRA The liquidity auction, which concluded on November 26th at 7:00AM UTC, was a huge success in terms of honest price discovery and fundraising, channeling liquidity into the token and propping up its early market. The soft cap was eventually reached and the auction ended with a hard cap of 0.00065 ETH/KEX.

The next opportunity for everyone to buy KEX will be November 27, 23, Beijing time :00. KIRA tokens will be traded on Uniswap and provide a liquidity pool.

Rhythm BlockBeats: If you plan to create a Uniswap pool, how does the team consider liquidity?

Milana Valmont: All final parameters of the opening of the Uniswap pool will be announced soon. The purpose of liquidity is not to influence or limit market prices, but to support liquidity after the market settles down and finally affirms its own findings.

Rhythm BlockBeats: Many NFT-related projects in the market have given up their tokens. Without giving up KEX improvements, KIRA How will you focus on the NFT field?

Milana Valmont: NFT tokens have great utility in securing blockchain applications that can leverage the MBPoS consensus associated with real value, such as digital real estate. The value of NFT tokens can be used to secure KIRA As well as bootstrapping network activity, which increases the value of KEX tokens and fee income shared with all others holding staked assets.

Rhythm BlockBeats: We heard that the team will launch KIRA World, can you please explain what is KIRA World, when will it be launched?

Actually we haven’t announced KIRA World's development plan, let me give a brief overview here, KIRA World will be used to demonstrate the connection between blockchain and virtual economy. We hope to use KIRA World to create a real social bond between platform users and network operators, while building a virtual financial system that can be experienced in an experiential way.

BlockBeats: What kind of partnership is KIRA Network looking for? Who are your current partners? Can you share with us KIRA What about the future development plan?

Milana Valmont< /span>: We have a partnership with Orion, through which Orion can benefit from the service that any asset can be pledged to the encrypted market. We have also established a relationship with Math Wallet, and Math Wallet will enter KIRA The ecosystem offers more options, and Swingby will help us connect to other networks beyond the interconnected ecosystem. We are also working with Blockparty, which is an NFT project, KIRA Adding stakeability to their assets allows users to stake. .

So far we have done most of the extensible management system and provided the most basic Feasible features to incentivize network operators. A testnet that we intend to launch in the next few weeks. We'll also start rolling out KIRA World. After a month of stable operation of the test network, we will launch the main network in multiple stages, similar to the way Polkadot started.

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