“Wan Dianchao” is an online live broadcast series launched by Blocklike. We will occasionally invite the most recent exchanges, popular currencies, and big Vs who can talk about hot topics to share and discuss.
At 19:00 on December 8th, the 33rd issue of “Wan Point Chat” was broadcast. This live broadcast was conducted by Blocklike CEO Xiao Wan in a conversation with KIRA CEO Milana Valmont, sharing the cross-chain DEX KIRA: How to stir up the liquidity of DeFi pledge?
The following is the live broadcast content, compiled by Blocklike (ID: iblocklike):
Xiaowan: Recently KIRA is very popular on Twitter and the domestic community. Mila is also a familiar face. Can you simply introduce yourself to new friends in the group?
Mila: My name is Milana Valmont and I have a corporate finance background from New York. I first entered the crypto space as an investor in early 2017. Later that year, I joined Binance as a community volunteer.
After that, I worked as a project manager at Adcoin com and as a consultant for Sentinel dVPN. In 2018, I joined the Knoks platform as the head of strategy, and by mid-2019, I was fully committed to KIRA as the CEO.
Xiaowan: We have seen that pledges in the DeFi market have increased dramatically. What have you observed in the current pledge liquidity in the DeFi field?
Mila: The total lock-up volume should be an indication of users’ trust in the decentralized platform. DeFi can achieve trustless passive income, but every return must always be proportional to the risk. The main goal of every project in the field of decentralized finance should be to minimize risks and maximize profits. KIRA has achieved these two points at the same time, and has far exceeded these goals through the liquidity of all mortgage assets.
Xiaowan: DeFi + cross-chain is the most popular track at the moment. What are the biggest characteristics (and advantages) of KIRA in this track?
Mila: The main feature of the KIRA network is: With the continuous growth of TVL, network security continues to improve, and all locked assets have liquidity.
Mila: Simply put, KIRA allows you to use 100% of your operating capital and provides an opportunity to enter the market for any digital token in the cross-chain ecosystem. We are making any digital asset, cryptocurrency, stable currency or even NFT collateral, and of course you can also get rewards from the collateral, conduct transactions, or use your collateralized assets in other DeFi applications, all of which happen at the same time .
Xiaowan: According to my understanding, the release of liquidity and security has always been the focus of community discussions. How does KIRA balance these two points?
Mila: KIRA is betting that there is no liquidation risk like typical DeFi, which means that the risk factor is extremely low. At the same time, all collateralized tokens maintain liquidity in the form of collateralized derivatives, and holders can rebalance their investment portfolios without releasing the collateral. For example, BTC derivatives can be used to obtain collateralized stablecoins, thereby Will not be affected by market fluctuations.
Xiaowan: 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 fluctuation of the value of the asset causes the user’s assets to be over-collateralized, unless the value of the deposit is lower than that guaranteed by the verifier to operate honestly Value, which reduces the utilization rate of funds, greatly restricts the application of PoS consensus in the financial field.
This is the significant difference between KIRA MBPoS and any current PoS, because its security does not depend on the value or distribution of any single token, just as 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 not only encourage users to protect network security, but also promote network activities, thereby creating value for all stakeholders. Finally, all mortgaged tokens maintain full liquidity, so as to ensure that they will not be affected by market fluctuations and enable token holders to use leverage for mortgages, which was impossible before.
Xiaowan: How is KIRA’s token economic model designed? Under this model, how to attract users and increase the total lock-up amount (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 for mortgage. The growing 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 revenue from fees and rewards will in turn encourage users to mortgage more tokens in a cycle.
Xiaowan: On November 27, KIRA launched Uniswap. What is the current liquidity of KIRA on the platform? Is KIRA still interested in other DEX or CEX?
Mila: Yes, we are already online on Uniswap, anyone can trade $KEX through uni.kira.net. We have also set up a liquidity incentive plan on Uniswap v2. At present, all token holders who lock their LP have a return rate of more than 400% APY. Speaking of CEX, major 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 between the real world economy and decentralized finance. KIRA is one of these projects. Its purpose is to make this future come true as soon as possible, such as allowing bets on any asset type, including digital currencies and NFTs representing real-world assets.
Xiaowan: What are the plans for the Kira team next?
Mila: We will launch our testnet in the next few weeks and provide incentive programs for early validators. Soon, the mainnet of the KIRA network will be carried out in multiple stages, which is very similar to the launch of Polkadot, that is, PoA is performed with sudo, and sudo is removed to allow the verifier to have complete control, and finally achieve MBPoS, and through Cosmos IBC and Polkadot XCMP cross-chain protocol is interconnected with other networks.
