Wan Dian Chat is an online live broadcast series column launched by Blocklike. From time to time, we will invite the most active exchanges, hot searched currencies, and big Vs who can talk about hot topics to share and discuss in the group.
At 19:00 on December 8, the 33rd episode of Wan Dian Chat started. In this live broadcast, Blocklike CEO Xiao Wan talked with KIRA CEO Milana Valmont, sharing the cross-chain DEX KIRA: How to stir up DeFi pledge liquidity?
The following is the content of this live broadcast, compiled and organized by Blocklike (ID: iblocklike):
Xiao Wan: Recently, KIRA is very popular on Twitter and domestic communities. Mila is also a familiar face. Can you simply introduce yourself to the new friends in the group?
Mila: My name is Milana Valmont and I come from New York with a background in corporate finance. I first entered the crypto space as an investor in early 2017, and later that same year, I joined Binance as a community volunteer.
I then worked as a project manager at Adcoin com and as 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 CEO.
Xiaowan: We have seen that the current DeFi market pledges have increased significantly. What have you observed in the current pledge liquidity in the DeFi field?
Mila: The total lock-up amount should be a manifestation of users trust in the decentralized platform. DeFi can achieve trustless passive income, but every income must always be proportional to the risk. The main goal of every project working in the field of decentralized finance should be to minimize risks and maximize profits. KIRA does both, and goes well beyond these goals through the liquidity of all collateralized assets.
Xiao Wan: DeFi + cross-chain is a relatively popular track at present. In this track, what are the biggest features (and advantages) of KIRA?
Mila: The key features of the KIRA network are: network security continues to increase as TVL continues to grow, and all locked assets are made liquid.
Mila: Simply put, KIRA allows you to leverage 100% of your operating capital and provides access to the market for any digital token in the cross-chain ecosystem. We are enabling any digital asset, cryptocurrency, stablecoin or even NFT to be collateralized, and of course earn rewards from staking, trade, or use your staked assets in other DeFi applications, all at the same time .
Xiaowan: According to my understanding, the release of mobility and security have always been the focus of community discussions. How does KIRA balance these two points?
Mila: KIRA betting does not have the liquidation risk of typical DeFi, which means that the risk factor is extremely low. At the same time, all mortgaged tokens maintain liquidity in the form of collateralized derivatives, and holders can rebalance their portfolios without unstaking. For example, derivatives BTC can be used to obtain mortgaged stablecoins, thereby Not affected by market fluctuations.
Xiao Wan: According to official information, KIRA has brought a relatively innovative mechanism including multiple proof of rights and interests, MBPoS. What is the biggest difference of this consensus mechanism? How does KIRA handle multi-type asset pledges?
Mila: In the context of Web3, the inherent problem of PoS is that the value transfer from the external network is uncertain, and the value fluctuation of assets leads to the need for over-collateralization of user assets, unless the deposited value is lower than the guarantee of the verifiers honest operation. value, which reduces the utilization rate of funds, which greatly limits the application of PoS consensus in the financial field.
This is what makes KIRA MBPoS significantly different from any current PoS, as its security does not depend on the value or distribution of any single token, just like the value of Multi-Collateral DAI does not depend on the volatility of a single asset.
In short, MBPoS allows any asset to be mortgaged, and the task of network governance is to adjust the interest rate of the mortgaged tokens. This mechanism can both incentivize users to protect the network security and promote network activities, thereby creating value for all stakeholders. Finally, all staked tokens remain fully liquid, guaranteeing immunity from market volatility and enabling token holders to stake with leverage, which was not possible before.
Xiaowan: How is KIRA’s token economic model designed? Under this model, how to attract users and increase the total lock-up volume (TVL)?
Mila: 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 their interest to stake. Increasing TVL will in turn improve network security.
The KIRA MBPoS consensus further guarantees the liquidity of all tokens, which directly increases the activity of the network and increases the fee income generated by dApps deployed on KIRA (such as our cross-chain transaction protocol IXP). The ever-increasing fee reward income will incentivize users to mortgage more tokens, and the cycle repeats.
Xiao Wan: On November 27, KIRA was launched on Uniswap. What is the current liquidity of KIRA on this platform? Is KIRA interested in other DEXs or CEXs?
Mila: Yes, we have launched on Uniswap, anyone can trade $KEX through uni.kira.net. We also set up a liquidity incentive plan on Uniswap v2, and currently all token holders who lock their LPs have a rate of return of more than 400% APY. Speaking of CEX, the main listing partners will be announced in the coming weeks.
Xiaowan: At present, more and more DeFi + products have begun to appear. In your opinion, what stage of development is DeFi currently in? How will the market develop next?
Mila: DeFi is currently in a very early stage of development. The most anticipated and upcoming thing in this field is the interconnection of real world economy and decentralized finance. KIRA is one of those projects that aims to bring this future to life as quickly as possible, for example by allowing staking of any asset type, including digital currencies and NFTs representing real-world assets.
Xiao Wan: What plans does the Kira team have for the next step?
Mila: We will be launching our testnet in the next few weeks with an incentive program for early validators. Soon, the mainnet of KIRA network will be carried out in multiple stages, which is very similar to the launch of Polkadot, that is, PoA with sudo, removing sudo allows validators to have full control, and finally MBPoS, through Cosmos IBC and Polkadot at the same time The XCMP cross-chain protocol is interconnected with other networks.
