Welcome to the KIRA Network Live AMA with The Gem Hunters.

We would like to thank the KIRA team in particular Milana & Mateusz for attending today and for giving our community information on their new project!

Q1. To get things rolling could you please introduce yourself and tell us a bit about your backgrounds

“Mateusz” - My name is Mateusz, Kira CTO. I am an electronics engineer, in crypto since late 2011, involved in interchain/web3 ecosystem space for the last 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 started Kira with Milana

“Milana” - Hi everyone again, my name is Milana Valmont, I grew up in LA but moved to NYC to study economics and psychology at Fordham University. After graduating I have worked in corporate finance for a couple of years as a private equity analyst. I became involved with the crypto ecosystem first as an investor in early 2017 and later the same year I joined Binance exchange as a community volunteer. After that I have worked as project manager for Adcoin dot com and was an adviser to Sentinel. In 2018 I went to Tel Aviv to join Knoks platform as head of strategy, and by mid 2019 I dedicated my full attention to Kira as CEO. I’ve known Mateusz since 2017 from the “shitcoiners slack”

Q2. Please give us also an introduction to the KIRA Protocol and what you guys are trying to achieve in a nutshell

Sure, Kira is a solution to utilize 100% of your working capital and provides access to the market for any digital token in the interchain ecosystem. We are working on making it possible to stake any fungible or non fungible token, claim the rewards and trade it at the same time or use other DeFi. In short with Kira we power future of DeFi with liquid staking.

Q3. We are keen to get more information on the MBPoS consensus. From our understanding it is somehow similar to the Byzantine Fault tolerance consensus of which NEO is a prominent example. Could you explain what special features the MBPoS consensus has?

PBFT/Tendermint is a backbone of the consensus and message gossiping. What is different is ability to stake multiple assets rather than one while maintain liquidity of all assets at stake. MBPoS has no limitations in regards how secure it can be because there are no limits in terms of how much value can be at stake - which is not possible with any other PoS. There are also no limitations in terms how many validators there can be however governance must approve each individual network actor - this ensures sybil resistance. Finally every validator and gov member has equal voting power so it is in no way correlated to value at stake. This means you can't exploit the network by hoarding or stealing coins - which is the biggest issue for other PoS - I think STEEM might be a good example of what happens when CEX'es hoard and use your tokens on your behalf.

Q4. Why did you decide to pick the MBPoS algorithm for KIRA Protocol?

We didn't pick, it chose us lol, we designed it on our own from scratch to address all the needs of the interchange space both economy and security wise.

Q5. How do you tackle the risks of staking and what is your approach in the case of malicious behaviour?

Basically Kira only slashes if multiple validators misbehave at the same time like an organized attack. We use governance assisted slashing to evaluate if misbehavior was a real attack or result of non intended configuration/software or hardware fault which makes the system way more robust. Kira uses governance curated validator set (even though there are no limits regarding how many validators there can be), this ensures that you can’t join validator set by simply stealing coins or by finding an exploit and printing infinite amount of some token. Also each validator has an equal voting power (chance to propose a block) regardless of the amount of assets at stake they have.

Q6. You have developed a fascinating concept through which stakers can retain liquidity while staking their assets. Please tell us more about it.

Its actually very simple - you transfer tokens to Kira (its all trustless over Cosmos IBC and Polkadot XCMP) then you stake them and receive 1:1 transferable derivative representing your token that you just staked (sBTC, sDOT, sATOM, sKEX, sETH...). You can then claim revenues and trade your staked tokens for any other on the platform, or send outside of Kira and use with other DeFi. Kira gov is responsible for whitelisting tokens and defining interest rates - how much each individual token can claim in rewards.

Q7. The Kira Exchange Protocol does not only solve the problem of scalability, but also tackles the issue of crosschain interoperability. Please explain to us how exactly this is achieved.

We integrate with most popular cross-chain protocols such as Cosmos IBC and Polkadot XCMP, thats what enables interoperability and trustless transfers in Kira. We are also partnering with Swingby and other projects that provide trustless bridges or issue digital fiat

Q8. So can you please tell us more about the so called Initial Delegator Offering (IDO) and what are the differences/benefits compared to regular Initial Coin Offerings?

Initial Validator Offering (old IDO now IVO - we renamed it because people are confusing it with DEX offerings) is similar to stakedrops — but generates real revenue to the projects that launch them on Kira (from block and fee rewards). Main advantage is that investors stake instead of spending their tokens and with MBPoS you can take part in multiple IVO’s at the same time using the same asset. It’s like stakedrops on steroids : )

Thanks for answering our questions Milana and Mateusz, its been a pleasure to host you live at TGH, we look forward to following the progress of your team and KIRA Network


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