Klever Finance Token (KFI)
The Klever Finance Token (KFI) is the Klever Blockchain governance token.
KFI token holders will have an essential influence and crucial responsibility over the Klever Blockchain's function and have complete control over the apps protocol configuration (such as application fees and functionalities), as well as approval authority over new apps using an on-chain voting system.
Inside the Klever Blockchain, KLV is the main utility token used for transaction gas and energy usage - KFI is the governance token for the Klever community and its main utility is to empower a world-wide distributed community to innovate in p2p technologies and advance decentralized finance products and services.
KFI holders will be able to use KFI on Klever Blockchain to:
KLV holders globally will be given the opportunity to mine KFI by adding KLV into daily mining pools. All KLV used to mine KFI will be burned and removed from KLV's circulating supply.
Only 150,000 KFI will initially be mined and the token is scarce in nature.
A total max supply of 1,000,000 KFI will ever be created through a halving process, and the full minting process will autonomously be taking 20 years to complete.
Klever Finance Token (KFI)
A total of 100,000 KFI will be made available for mining to the global KLV community during the KFI Mining and KLV Burn Event of March 22-March 25, 2021.
All KLV used to mine KFI will be burned and removed from KLV's circulating supply. KLV users globally will be given the opportunity to mine KFI by adding KLV into daily mining pools. Klever Blockchain will distribute kapp fees as KLV network rewards to the KFI governance community as a reward for the responsibility and essential work involving in governing the blockchain.
Each Klever Blockchain app, or kapp, can have their own set of fees. Rewards are fees automatically collected on apps. The power to approve or deny new kapps lies exclusively in the hands of the KFI governance community. By using the KFI governance voting system, KFI holders will ensure that Klever Blockchain will be free of scams and suspicious apps since the KFI governance community are the ones reviewing and approving the deployment of new kapps.
KFI Mining has ended
🚨 The mining period is already over, do not send your KLV after the eligible period of participation.
The process will be automatic, you will receive the KFI at the same address as your KLV has been sent. As long as you have submitted your KLV within the eligible mining period.
KFI Mining FAQ
To clarify, KLV Coin is the main utility token of the Klever Blockchain and KFI is the governance token of the blockchain.
Klever Blockchain allows us to build unlimited point-to-point applications in the chain. Each protocol application will have its own fee contribution model for the network itself and the KFI governance community. As more applications are developed on the Klever Blockchain, more value flows to liquidity pools through the KLV and more rewards are distributed to the KFI governance community.
You can use KFI on Klever Blockchain to:
No. At the end of the mining period, all KLVs received will be burned, your KLV will be returned in KFI an amount that varies according to the total KLV sent during the period by all users.