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KIROBO announces Token Economy to strengthen the DEFI service ecosystem
Kirobo’s model relies on the community as a key driver and enabler for the operation of distributed networks.
Kirobo (https://www.kirobo.io/), a decentralized application developer creating a more secure infrastructure for the Web3, has announced a tokenomics model that enhances the blockchain services ecosystem. This model outlines the important role KIRO holders play in networks that enable secure arrays of Web3 services by acting as activators for conditional transactions. It also outlines the benefits and benefits that owners of Kirobo’s native token, KIRO, can enjoy in decentralized applications (dApps).
Kirobo’s services rely on the company’s unique conditional transaction technology, which allows users to create transactions that run only in specific scenarios. Conditions can include a specific date and time, the price of the target token, the presence of a specific NFT in the target wallet, and other variables. This technology is at the core of Kirobo’s Liquid Vault (https://vault.kirobo.me/) backup feature, a secure non-fungible on-chain wallet with DeFi access and NFT support. The backup feature transfers ownership of the vault to another user-specified wallet if the user does not access the vault for a period of time to prevent the loss of the private key. Conditional transactions also power Liquid Vault’s future inheritance capabilities, distributing assets among the wallets of the heirs specified at activation.
Launched in November 2020, with a maximum supply of 2.2 billion, the KIRO token will serve as the financial engine for Kirobo’s ecosystem. Tokens are not only used for payments within them, but also to incentivize activators in Kirobo’s network who are the users who trigger conditional transactions on behalf of other users. Smart contracts do not have the ability to automatically verify that certain conditions have been met without a third party, so the activator handles it and runs a pseudonym transaction under certain conditions to create a conditional transaction. Get the KIRO reward that the user deposits at the time of creation. The activator also needs to hold some KIRO in order to participate in the process. Launched in the second quarter of 2022, this model will enable Kirobo’s network to act as a highly decentralized, community-driven system in which users take control.
In the fourth quarter of this year, the company plans to extend its tokenomics model to establish an exclusive activator community within a larger user base. In the first stage, any user holding any amount of KIRO can act as an activator, but in the second stage, this offering is limited to users holding a large number of tokens. In another shift, users who create conditional transactions to use backup or inheritance features will have to pay the network fee along with the activator deposit.
In more direct terms, the company has introduced a hierarchical access policy for secure forwarding (https://undo.kirobo.me/) dApps that users password protect using “Undo”. A button that allows you to send assets to another wallet via a transferred transfer. KIRO holders receive benefits and benefits on dApps and are divided into four tiers to meet the needs of both retail and institutional users. The hierarchy is as follows:
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Retaining user 0 km With your wallet or Liquid Vault, you can perform secure transfers up to twice a month and access up to five up-to-date transactions in your records.
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Retaining user At least 3,500 km You can use Kirobo’s password generator to perform secure transfers up to 10 times a month and access up to 20 transactions in history.
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Retaining user At least 6,500 km You can use the password generator to perform up to 25 transfers per month and search the last 80 transactions of the record to get your own address book.
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Retaining user At least 10,000 km You can get up to 40 transfers and set higher limits on a case-by-case basis. You can check up to 160 transactions in the history and use the password generator and address book to export the transaction records as a .csv spreadsheet.
“Web3 needs to be decentralized and community-driven, which requires a healthy incentive mechanism,” said Kirobo CEO Asaf Naim. “Our native token, KIRO, brings it to our own ecosystem and enhances apps that make crypto and DeFi more secure and user-friendly. Crypto is the future and we are beginners. I want to help you take the first step to get there. ”
About Kirobo
Kirobo is a decentralized application developer who builds a set of services focused on the security and ease of use of Web3. With investments from Digimax and Solana BRZ, Kirobo is working to make decentralized finance as accessible and user-friendly as regular online banking. Kirobo is proud to receive two grants from the Israel Innovation Authority, the only blockchain technology company to achieve this.
For more information, please visit https: //www.kirobo.io/.
