Welcome to Klever finance
Brief explanation of Klever finance ecosystem, offerings and products
Recently OptimusValidatorNetwork started supporting Klever finance. Here I am going to walk through what is Klever finance about and maybe give some of you a reason to join this community as well.
Klever finance recently launched a validator program. The challenges are meant to test and stress the KleverChain as well to teach us, who wants to validate in the mainnet, the tools and tricks of the job.
If you want to know more about the validator program please follow this link:
https://klever.finance/klever-blockchain-validators-program/
Blockchain is difficult, but it shouldn’t be.
This is the main idea behind KleverChain. The team has dedicated the past decade to building blockchain solutions and products for millions of users around the world. As a result, we have learned a great deal about blockchain technology, cryptography, immutability, and which technologies are most effective in optimizing high performance, speed, security, and reliability.
KleverChain provides a safer, faster and smarter cryptocurrency experience by providing permissioned blockchain governed by the community to all users globally, allowing them to participate in and thrive within the decentralized economy.
The value of each chain stands in the product they offer, right?
Thanks to the Internet, we now have access to new financial opportunities that have led to a completely novel way for us to live our lives, manage our finances, and ensure our security. Transactions can be made anonymously, trustlessly and securely across borders using decentralized economies that eliminate middlemen. These digital economies are increasingly providing individuals more options to earn and spend their money on mobile and web-based apps.
This is KleverChain! A simple way for the users across the globe to access a range of indispensable services and products, in a simple, direct, and profitable way.
These include the most popular crypto wallet, crypto exchange, browser, staking, payment channel, loan, liquidity pool, decentralized finance, supply chains, logistic records… and more.
Let’s look closer at the technology and the features that make this possible.
KleverChain ecosystem
KleverChain’s idea is achieved through a series of products. We are going to talk through all of them and see what they are, and how they all fit together.
The products
Built-in apps aka. Kapps
These are apps that Klever finance already developed and deployed on the KleverChain. Ready to use! Here some examples:
- On-chain swap
- Liquidity mining
- Liquidity pools
- Username and domain registration
- Username and domain sale
- Digital identity
- NFT marketplace
- Create collectibles and NFT tokens
- Loans and collaterals
- DEX
As you can see, there is everything a user needs to start operating on a blockchain, right?
You might want to exchange your tokens or buy/sell NTFs. Or borrow some founds, or join some liquidity pool. It is all there and ready to use!
In this way, Klever team facilitate users and developers removing the hassle of going through smart contracts and providing apps which are safe by nature, and built directly using KleverChain features.
KleverOS SDK
An SDK (Software Development Kit) provides high level API abstracting the complexity of the system, in this case the block chain. In this way mobile and web developers do not require a deep understanding of crypto and blockchain. With their low code integration, they will be able to offer decentralized financial services. This, plus the help of the Klever team will make it very easy to develop dapps and new functionalities on top of block chain.
Furthermore, developers can easily broadcast transactions on multiple currencies and blockchains with KleverOS SDK without having to have prior experience in cryptography or blockchain.
The token
Klever Digital Assets (KDA)
KleverChain lets users create native tokens without having to deal with complicated smart contracts. The native form of each token in KleverChain is “KDA — Klever Digital Assets”. You will be able to create tokens with Klever Wallet in just three steps.
KDA can be issued by anyone using Klever Wallet, and the price to create one will be 10,000 KLV. The asset issue cost may change by community proposal. The purpose of the sub tokens is to make the Klever Network more useful. Using KDA in Klever Network apps is extremely fast, reliable, and secure.
You can create KDA for:
- DeFi projects
- Stablecoins
- Stock derivatives
- Notary documents
- Game assets
- Inventory management
- Supply chain
- Staking
- Rewards
- Logistic records
- Loyalty programs
- Collectibles
- NFT
- Gift cards
- Stored value
- Ownership
- and more…
The main utility token in Klever Blockchain is named Klever Coin (KLV). Klever Swap also supports KLV and KDA, which can be listed when adding KLV liquidity.
Among Klever’s key features and tools, Klever Swap uses KLV as its fee engine. By storing KLV in their wallets or paying fees with KLV, users can reduce their swap fees. In addition, any fee paid out in another coin or token is instantly converted into KLV by buying it off the market, which increases KLV’s liquidity and usability. Quarterly, some KLV are burned from Swap fees.
KLV can be used on KleverChain as follows:
- Store value
- Make p2p payments
- Participate in new projects through crowdfunding
- Pay swap fees
- Reduce swap fees
- Reduce exchange fees
- Pay exchange fees
- Pay blockchain transaction fees
- Create Klever Digital Assets inside Klever Network
- Create new tokens across supported blockchains
- Provide liquidity for K-Tokens and Stablecoins
- Staking with hourly rewards
- Run Klever Masternodes
The blockchain
Proof-of-Stake Mechanism
(Mostly taken by the official doc)
On the KleverChain, PoS means that entities, companies or individuals, based on their assets, are selected as validators, and their task is to validate transactions and mine blocks.
To be promoted as a validator, as well as to operate a Masternode, a user must hold a minimum amount of Klever Coin (KLV).
Masternodes are essentially full nodes on the network that receive incentives, rewards for operating, and performing actions on the blockchain. With Masternodes, Blockchain users have access to a highly reliable network and professional services from experienced node operators. The consensus algorithm selects a portion of eligible Masternodes for every epoch, which is a period of time during which the network measures and adjusts its status. Initially, an epoch lasts 6 hours, though this parameter can be updated by the governance community.
A successful proposal to the network can update this number of block producers to 21.
Using a permissioned network, KleverChain provides high performance, cost-efficiency, and a smooth governance cycle. On top of a secure peer-to-peer network, a powerful decentralized platform can build an unlimited number of blockchain applications.
KleverChain runs a control layer on top of an open governance framework in order to ensure professionalism and competence among the network’s validators. This is an essential feature in our mission to protect users against scams, frauds, and unreliable block producers, which are problems that many other existing smart contract blockchain protocols suffer from today.
Validators and Masternodes
Initial block reward flowback is set at 50% of fees paid by users. Inflation will be controlled and profitability will be maintained by burning an additional 50% of fees.
Due to Masternode status being obtained through KLV staking, a Masternode owner is also a member of the KLV staking pool. Reward privileges may be changed by community vote or proposal approval.
There will initially be 21 masternodes that provide the initial bootstrapping of the mainnet. Foundation nodes will burn all the KLV block fees they produce. After mainnet is stabilized, Klever Finance will submit a proposal to allow public Masternodes to be created and removed.
At the time of mainnet launch, Klever Finance will be deploying a contract for pre-staking activities of 10 Masternodes with a threshold of 10M KLV.
If you want to know more about how to operate a validator on the KleverChain join us in the Klever validator program.
And for a quick explanation on how to set up a validator on the KleverChain go read my article:
KleverChain
So guys this is KleverChain! A PoS blockchain with ready to use built-in apps for a varieties of applications and use cases.
Secure, low fees and with all the tools a user may needs to operate its finance.
The SDK provides also, easy access to the blockchain functionalities making the developers life very easy.
Here’s a quick overview of the key KleverChain blockchain benefits:
- Low-cost development of decentralized applications (dapps).
- Dapps can be built directly on the blockchain without requiring intricate or vulnerable smart contracts to be written or used.
- With an easy-to-use interface and development time savings, the blockchain comes pre-built with features ready to use. Saving both time and budget!
- Support from a large, growing global community. A community that demands new solutions and applications for the blockchain that will continually evolve.
- By adding an additional service charge to your project, you can enhance your profitability.
- API’s that are ready for use to facilitate integrating and developing new solutions.
- Developers are not required to run nodes.
Thank you all for reading and see you all in the next article!
Disclaim: A lot of the info are taken from the official documentation.
If you want to know more please go to:
