AMA RECAP: BCT BLOCKCHAIN COMMUNITY x KIRA NETWORK

AMA RECAP: BCT BLOCKCHAIN COMMUNITY x KIRA NETWORK

On september 21, our AMA manager Trung had a live AMA with Milana Valmont (CEO and Co-Founder of KIRA Network) , Mateusz Grzelak (CTO and Founder of KIRA Network) on BCT Blockchain Community telegram chat.

First step: Introduction

Trung: Today, Mrs. Milana Valmont and Mr.Mateusz will directly answer questions from members of the community BCT blockchain Group and sharing information plan, upcoming KiraNetwork targets. Before starting the program I would like to briefly introduce the program so that everyone participating in the AMA session will know.

Trung: @miLanavaLmont and @asmodat , can you please introduce yourself to everyone ?

Milana Valmont: Hello , I am Milana Valmont, I have a corporate finance background from NY. I got the crypto space first as an investor in early 2017 and later the same year I joined Binance exchange as a community volunteer.
Afterwords I have worked as project manager for Adcoin com and was an adviser to Sentinel dVPN. In 2018 I joined Knoks platform as head of strategy, and by mid 2019 I dedicated my full attention to Kira as CEO.

Mateusz Grzelak: Hello again everyone, Mateusz, Kira CTO here. I am an electronics engineer, in crypto since late 2011, highly involved in the interchain/web3 space for the past 3 years, worked as R&D developer for Barclays Bank, then as lead infra engineer for US based Settle Finance then as product manager for the crypto exchange in Switzerland called Bity, shortly after that we started Kira with @miLanavaLmont

Trung: Wow great, thank you for detailed answer. So to avoid wasting everyone’s time, we’ll start Part 1 with 10 of the best questions chosen.

Question 1: What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally? What are the services you offer to the community?

Milana Valmont: We have many different strategies for building a strong global community. Pushing out educational content on any different platforms on many different markets. We already have our Vietnamese kira group and Korean Kira group and we’ve done good amount of AMAs on both. Now we are pushing our Chinese community and marketing campaign and coordinating with different KOLs on all the markets (west and Asia). Soon we will create different ambassador programs for each markets and great interactive incentives for our community members.

Also to add, community is most important part of our governance system. Kira is not using plutocratic principles, which means community engagement is more important than wealth.

Trung: That’s really nice answer, Kira Network team really has great vision about the importance of today’s community. I really appreciate this.
So we will continue to question 2.

Question 2: How do you see the future of Kira Network in 5 years to come, do you feel it will continue to grow till it achieves it’s ultimate goals, or do you see the probability of competitions over taken Kira Network due to current challenges that you are facing?

Mateusz Grzelak: Kira is designed to self evolve and self sustain itself. Right now Kira is the only project in the ecosystem that came up with idea to utilize value at stake to power DeFi applications. The core layer of the network is not just a software but network operators and governance which you can’t copy or easily duplicate. We designed Kira in a way so that this engagement, security and trust grows over time stronger and stronger.
Kira utility and value grows with growing number of projects and tokens around it, we welcome every project to join the interchain ecosystem to compete in the free market economy.

Trung: It’s great that we have the backup plan, true leader!
So we continue with question 3 sir.

Question 3: What is the role of KEX tokens in the network? Does the payment need to pay for KEX? Do I need to pay for KEX to send a message? In other words, what is the KEX token appreciation logic?

Mateusz Grzelak: KEX, the native staking asset of Kira is the most efficient way of claiming revenues from the block and fee rewards as well as the most efficient mean of fee payments. KEX also acts as a reserve currency in terms of which staking and using all other tokens is valued. This means you can pay using any whitelisted currency but using KEX is always most profitable. KEX appreciation logic is correlated with economy, block rewards generated and fees paid by users who interact with our DeFi applications.

Trung: That is a very detailed answer and we have understood the mechanism. Thanks for your enthusiastic answers.
Now question 4 guys
Question 4: Are we as $KEX investors able to run KIRA Network nodes and if so, what are the requirements and benefits of it to both KIRA Network’s ecosystem and for the investors?

Milana Valmont: KEX is required to be part of the governance and the validator set. Governance defines individual requirements for every single candidate, as it was mentioned before wealth status is not the only requirement.
Being part of the community and your engagement there will be equally valued along the skin in the game.

Trung: yeah i know , it’s a fair game, a very detailed answer. Thank you very much Milana. Question 5
Question 5: What are the major obstacles that you have faced on executing your roadmap and how do you plan to execute your continuing roadmap for this year?

Milana Valmont: Luckily we didn’t had any major obstacles as of yet, but we do anticipate that organizing humans to govern the network will be one of the major challenges;
Until the end of the year we have a public round for kira planned, liquidty program, testnet launch in around 2 months and if all goes well we will see the mainned before the end of Q4.

Trung: Cool! , hope that the common market will develop stably and really wish KiraNetwork to realize its goals soon. Then Q6 now
Question 6: As we know, every successful project has some behind the scenes story, what is the story behind Your Project success?

Mateusz Grzelak: Story behind Kira was fairly straight forwards, we knew that interchain, PoS and decentralized finance will be the next big thing so we sick to our goals despite all obstacles and long bear market, simply kept innovating and building.

Trung: It’s great that our project doesn’t follow the crowd. I especially admire those who dare to exercise their passions.

Mateusz Grzelak: Sure.

Trung: yeah, so we will keep going with Q7 now.
Question 7: What is KIRA Network marketing plan? Organize AMA with a lot reward in $KEX token and attach on growing community are one of those marketing plan?

Mateusz Grzelak: I think we already that one during one of the previous questions. We are currently in our AMA world tour where people learn more about Kira. A lot of educational content will also be produced and distributed on many different platforms in the West, as well as China, Korea and Vietnam. We have an amazing team with us like Garlam Won from Harmony who joined Kira as our go-to marketing lead, we also partnered with Magic View and Launch Team/Rarestone to push our narrative even further.

Trung: Yes, it’s wonderful. You have answered the questions of many of our AMA viewers. Thank you and now Q8 waiting for you to answer.
Question 8: Do you have any plans to attract non-crypto investors to $Kira ? What are the actions to increase awareness around $Kira in non-crypto space ?

Milana Valmont: There are few way we want to ensure inflow of users from outside of crypto space. One of them is a fact that MBPoS allows users to earn revenues not only using crypto but also by using digital fiat, and NFTs like digitized real estate, art and gaming items, this can help non crypto investors to get exposure to crypto dddd;
Another way is IVO where people can invest trough staking for example by using fiat or even digitized in the form of NFT’s real world assets cuch as real estate.

Trung: yeah, that’s a very good strategy. I had the same questions for many projects before and now I am enlightened, thank you beauty girl.
let’s go with Question 9 guys.
Question 9: Can you tell us how KIRA Network distributes tokens? Does KIRA plan to increase the value for $KEX such as increasing/decreasing supply, burning tokens …?

Mateusz Grzelak: Governance of the network manages economy of the network by defining inflation within certain safety ranges and interest rates for staking foreign tokens on Kira. Because all tokens staked on Kira maintain liquidity in for of derivatives and can be used with our DeFi apps — every token deposited and staked increases the network activity and liquidity of the platform. This in turn generates network fees that attract even more users to bring their coins to stake ant the cycle repeats itself.

Trung: yeah cool, it is also a way to make tokens more valuable over time without decreasing supply or burning tokens.

Question 10: Most users only care about immediate benefits rather than the real value of the project in the long-term. How can you convince users invest to your platform in the long-term?

Milana Valmont: Its not just about investing in our platfrom/token, its about users who will stake their own asset and earn revenue, they can receive rewards in KEX and also can receive rewards in the basket of other tokens. The success of our platform doesn’t depend on the market nor the value of our token.

Kira Network can generate revenue regardless of the market conditions, the more efficient the governance system operates the more yield it can generate to sustain its own operations and incentivize all who stake their tokens.

Trung: yeah, I believe in the construction of the KiraNetwork team. With this talented leadership, in the future, KiraNetwork will soon make history.

Now that we have finished part 1, guests and viewers should prepare for part 2 from now on.

Part 2: People ask questions about KIRA Network to guests directly (will choose 10 questions to award)

Question 1 :
Joxes (AMA viewers) : Could you explain how “real-world assets such as digital fiat and commodities” work within Kira? How are these supported and what market model does it follow?

Milana Valmont: So this is possible thanks to our consensus the Multi Bonded Proof of Stake. Where users whitelist any digital asset like tokenized real estate for example, then the governance has to whitelist the asset and assign interest rates on how much users can earn staking that asset.

Question 2:
ljinlelomo(AMA viewers): Can KIRA Network be useful real life to non-crypto users?

Mateusz Grzelak:It can be used by people who do not want to hold crypto but are in possession of fiat and other real world assets and what to generate interest while securing PoS networks, it is useful for anyone who wants to at least earn passive income use of DeFi apps is optional.

Question 3:
We Trust In Altcoins (AMA viewers): Some exchanges claim to be “decentralized” when at the core, they really are not like IDEX or BinanceDEX. How does KiraNetwork guarantee such decentralization, as for example, in listing proposals?

Milana Valmont: Kira doesn’t have limitations regarding how many token pairs you can have. With Kira you will get the security of the DEX with ease of use and speed of the CEX. Our IXP module is going to be shared, we are using hub spoke architecture for that. No custody over users funds or data, and Kira is not going to be hosting any centralized servers. Everything is distributed and front end application will be a static page. So that means that the user directly communicates with the blockchain layer/network without any middle men.

Question 4:
Ross(AMA viewers): I have seen many projects trying to empower DeFi lately, all are good ideas but probably most of them will fade away. What does Kira Network have to offer, that doesn’t exist yet and would make this project last long term?

Milana Valmont: Yes you are right, many projects in Defi will fade away because they ae redundant and useless and they lack security. Kira offers staking derivatives natively so its not redundant and our Multi Bonded proof of stake consensus protects our networks from centralization and security risks such as honey pots, down time risks and hacks.

Question 5:
BEN NIco(AMA viewers): You have a novel crowdfunding tool: IDO. Why you decided that there is a need to create a new one? why not use an existing one? is it different?

Milana Valmont: its better because investors dont need to spend their capital anyone in order to invest in projects. They can just delegate their asset to one of the validators and receive tokens as a rewards.

Question 6:
Dior FF(AMA viewers): 15% for the team, 7% for advisors, 20% for reserves. Why do you need 20% for resrves? how can they be used? Also, do you have any lockup fot the team/advisors/reserve?

Milana Valmont: Reserves are for foundation which never sell its tokens but will delegate to the Kira Validator, and reserve is for the exchanges and market making.

Question 7:
Azzahra Alikaa(AMA viewers): How do you guys differentiate with #anyswap cross chain dex ?? can we swap all chains like anyswap, or it will only cover some coins?

Mateusz Grzelak: Any network be interconnected with Kira, we are using trustless protocols such as Cosmos IBC and Polkadot XCMP which means that no one holds custody when you transfers assets to our network. Kira has a DEX module which is sharded so that all executions occur on-chain. What is also different is that Kira does not form honeypots like other DeFi’s, DEX’es and network because all tokens deposited can be also staked, which means that at all time we can have more value at stake then actively deposited to dApps — effectively Kira ensures that validators have more to loose then to gain if they misbehave which is not possible with any other network in crypto.

Question 8:
JaKi(AMA viewers): why don’t KIRA use smart contract or oracle ?

Milana Valmont: We will have smart contract support using CosmWasm but all our core security modules are natively embedded into the blockchain application logic for security reasons. We do not use oracles because value of assets is not the same thing as market value, oracles are the easiest to exploit and compromise any DeFi project.

Question 9 :
ND CA(AMA viewers): Kira Network is using 2 protocols to interconnect with networks. Cosmos and Polkadot. Please explain how this works and why you have taken this decision.

Milana Valmont: Those are trustless asset peg mechanisms, we chose them because they are a most mature solutions to transfer both value and data, which means smart contracts on other chains will have ability to communicate with Kira.

Question 10:
We Trust In Altcoins (AMA viewers): Some exchanges claim to be “decentralized” when at the core, they really are not like IDEX or BinanceDEX. How does KiraNetwork guarantee such decentralization, as for example, in listing proposals?

Mateusz Grzelak: Kira DEX module is just one of many DeFi apps that will be available, but the core principle is that any asset can be listed without need for permission from anyone. Instead of paying for listing users need to put their money at stake to vouch for the market, which helps us to maintain decentralization and protects from scams at the same time.

Trung : We have finished part 2 of today’s AMA session. I am proud to see the KiraNetwork leader responding enthusiastically and the members too.

So we had an interesting conversation and hope that after this AMA session will answer the questions of investors. Thank you very much for the participation. CEO @miLanavaLmont and CTO @asmodat

On behalf of the admin team and the BCT blockchain community, I send my best wishes to the KiraNetwork project. Thank you so much for being here.

Mateusz Grzelak : Thank you!

Milana Valmont: Thank you everyone.

— — End AMA — —