Klever AMA in KuCoin - Full Transcript
If you missed the live AMA with Klever's CEO Dio Ianakiara in KuCoin's Telegram Channel, no need to worry. Here is the full transcript where Dio outlines the products and vision of Klever.io.
Question 1: What is Klever and KLV’s role in the Klever Ecosystem of products?
Klever is a simple, versatile and secure self-custody crypto wallet ecosystem, supporting the world’s major blockchains. The app offers access to 10,000+ tokens, 300+ swap pairs, and direct access to ETH and TRX-based DApps in Klever Browser. Klever is a decentralized p2p and self-custody wallet, putting the private keys in the hands of our users.
Klever Ecosystem is serving above 2 million users globally with Klever App, Klever Swap and Klever OS. Klever's emerging platforms Klever Blockchain, Klever Exchange and Klever Bank are set to launch in 2021, all powered by the utility token KLV that is burnt after usage.
KLV serves as the fuel for the entire Klever ecosystem, powering Klever Swap and significantly reducing exchange fees. KLV Staking allows users to support the project and earn community rewards as the network grows, with over 62% of all KLV in circulation currently frozen and staked by Klever users.
Klever offers true self-custody, self-banking and secure ownership of your cryptocurrency. The security of Klever App is ensured by being built on top of Klever OS SDK, which uses advanced security mechanisms that protect the users’ private keys and funds.
With Klever App you are free to export your 12 words and private keys and use it with other wallets in the market. But it’s important to remember to never share your seed or private key with strangers. If there’s someone asking you for that info, they are scammers.
But what Klever is more than anything is a tool for the little guy to reclaim their financial freedom. It’s an ecosystem of products that empowers our users to do more with their money, and gives them the confidence and security to learn more about crypto and decentralized peer-to-peer technologies.
Question 2: Can you tell us more about Klever’s user base and how you adapt your products to a global audience?
Klever has over 2 million users worldwide, and our app has been downloaded in over 190 countries. We currently have over 100,000 daily active users (DAU) using Klever every single day, with the three largest markets being the US, India and Nigeria.
The Klever App is available in more than 24 languages in order to cater to our global user base, and there is an option for all amounts, prices and values to be viewed in more than 164 different local fiat currencies. It’s important to add that Klever was translated by our community.
What is very exciting is that the underdeveloped and unbanked world has really taken a shine in Klever and is a readily growing market for us. Meanwhile, our 24/7 customer support is always available to guide and assist our users in case of questions or if they face an issue.
Question 3: Could you tell us more about what is going in the development of Klever’s upcoming platforms, and address the current Klever Roadmap?
We are working hard to scale our products for the growing demand of new crypto users entering the blockchain space. At the same time, we have a big squad working around the clock to finish our new Klever Exchange and make sure it has a great experience for our users. We currently have more than 50 full-time developers, or ninjas as we call them. We are constantly growing and aiming to have over 500 people working with Klever by next year.
During the past weeks we have tested the first releases of Klever Browser and Klever Exchange apps and many exciting challenges are present in both apps. Klever Roadmap is an ambitious plan and it may take some time to be completed, however, I’m glad to say that our team is more than capable of delivering new ground-breaking products that can impact the entire crypto industry.
You can check the roadmap and our whitepapers here:
KLV White Paper:
Klever Blockchain Whitepaper:
Question 4. Klever recently burned over 9% of KLV’s circulating supply in a new annual gross revenue burn, and now you also burn KLV daily as part of a new 100% of all Klever Swap fees burn. Can you explain the KLV burn mechanisms in more detail and their potential impact on KLV, its total supply, scarcity and future value?
The fundamental idea behind the newly implemented annual revenue gross burn is to lower the total supply of KLV, make KLV a more scarce asset and increase its value over time as the revenue of Klever grows each year.
The burned 379 million KLV were generated from Klever gross revenues in 2020, and amounted to around $2 million at the price of KLV at the time. This burn will become an annual event, in which the beginning of each year, the Klever team will calculate the revenue made from last year, and remove KLV from the token’s circulating supply at the equivalent USD value that previous year’s revenue amounted to.
As the usage of the Klever Swap, Klever Exchange and other products will increase over the coming years along with Klever’s revenue, so will the annual KLV burn amount. We want to make sure we are burning more KLV than we are creating with staking and foundation projects.
We have also implemented a new daily burn mechanism of KLV that burns 100% of all Klever Swap fees and removes those KLV coins from the circulating supply. The goal with this new burn rate is to improve KLV’s utility and scarcity, and as more people use our Swap and Exchange services, the more volume will come through our products and more KLV will be burnt.
To summarize, Klever aims to achieve a deflationary model for KLV with this new burning mechanism, in which the annual burn of KLV generated from Klever’s gross revenue coupled with the daily 100% Swap fee burn will jointly exceed the newly minted supply of KLV created through Klever Staking.
Question 5. Can you tell us more about the Klever Blockchain and Klever Finance Tokens (KFI) role on the upcoming chain?
A: klever.finance is a trusted permissioned blockchain network for the emerging decentralized economy, by providing a safer, faster and smarter cryptocurrency experience for all users globally to enter and thrive within.
We are launching the Klever Blockchain this year to allow users on a global scale to access indispensable services and products. These include market-leading crypto wallet, crypto swap, web browser, exchange, staking, payment channels, loans, liquidity pools, decentralized finance, game assets, supply chains, logistic records, notary, stored value, gift cards, rewards, loyalty programs, collectibles, banking, ownership and more. We strive to create a network where trustless technologies empower businesses and individuals in an open global economy using secure, fast and innovative on-chain peer-to-peer applications.
Instead of being a smart contracts platform, Klever Blockchain will provide prebuilt and ready-to-use apps and functionalities that are native to the blockchain.
Klever Finance Token (KFI) holders have complete control over the kapps protocol configuration, and over the approval of new apps using an on-chain voting system.
KFI is designed to serve as a governance token, and KFI enables our community to participate in Klever Blockchain’s essential decisions and gets an opportunity to earn unique rewards.
KFI is a very very rare token and only 1,000,000 units will ever be created, with just 150k KFI being minted upon first creation. The number of KFIs that can be distributed by KFI Network Rewards is fixed and will be carried out over the next 20 years respecting a HALVING event every 4 years. For me, KFI is one of the most exciting projects we’re working on today, with unimaginable potential to empower KLV to the next level.
Regarding KFI, we do have something exciting to announce to our community: the first round of KFI mining will begin next month in March, and all KLV that will be staked in order to mine KFI during this round, will be burned and removed from KLV circulating supply.
Question 6. Can you tell us more about the upcoming launch of Klever Exchange?
A: There are many components of the incoming Klever Exchange that will make it unique on the crypto market and set it apart from the fierce competition, making it attractive as a trading hub from traders around the world.
First, Klever Exchange is a meeting of numerous technologies: Klever Exchange is built with the aggregated knowledge of our team’s experience in building blockchain architecture, security solutions using military grade systems for encryption, high performance swap and trading engines, banking solutions, and simple user experience.
This means that we are not using one, two, or even three different technologies to build the Klever Exchange, but multiple different disciplines and technological solutions are meeting and overlapping to produce a scalable, fast and completely secure exchange for anybody globally to trade in.
Second, unmatched speed: Our trading engine is built in an innovative way that enables it to handle 3 million transactions per second. To compare with one of the industry giants currently able to handle 1 million txs/sec. We are able to achieve this speed by having each trading market and order book to act fully autonomous to scale up and down.
Third, ironclad security: Klever Exchange is using an innovative security architecture we have been perfecting for years through our work in the wallet crypto field, making the exchange wallets virtually impossible to penetrate or hack. We have built an autonomous and robust security mechanism that uses our own independent banking component to communicate with, but not interact with, our Klever Hardware Secure Module (KHSM), which in turn handles withdrawals and deposits using KleverOS SDK.
Fourth, accessibility and low threshold for trading: Klever Exchange is built to be a borderless trading platform where literally ANYONE CAN TRADE. Users from all over the world will be able to open a trade at low amounts and very low fees, and we have had the third world strongly in mind when building the exchange structure and low threshold for entry.
Klever Exchange is meant to be a tool to give freedom to the little guy, who on other platforms is often forgotten or neglected as priority is primarily put on larger traders or whales. Like always, we will do it differently.
After many years in the field we understand that even with many exchanges out there, only a small number of exchanges like Kucoin are really professional in what they do. We have witnessed that firsthand. This also means there’s a lot of opportunities to improve user experience and deliver better services, which is exactly what we will do!
Question 7. What is Klever OS SDK and how is the development of this Wallet as a Service (WaaS) product?
A: Klever OS is the core technology of all Klever products. It’s a complete and secure SDK (Software Development Kit) with all wallet features that crypto projects need. With more than 10 blockchains integrated, Klever OS can easily be ported into any platform, device, website, app, wearable, or even vehicle.
Klever OS SDK is a Wallet as a Service (WaaS) that offers military grade systems for encryption to any developer, but the unique security aspect is that the encryption happens locally inside the user’s device, in what we call the Native Core. The Native Core can be viewed as a Black Box inside Klever OS, and although this Black Box is able to communicate with the presentation or user interface element of the wallet system, it is completely isolated, making any exploit or hacker attempt impossible against the wallet. This security mechanism is what makes Klever’s products the most secure and reliable on the market.
Question 8. What is Klever Bank? Klever Bank reportedly involves a local bank in Brazil, but what are the future plans for the world? Will it have more partner banks?
A: Klever Bank is aimed at creating a simple, powerful and seamless banking and crypto experience for our users around the world that don’t want the complexity of blockchains.
Klever Bank will offer high secure crypto asset custody for regular people, institutions, organizations and startups.
We will start in our home-base of Brazil, where the first pilot in our banking products will be launched this year. We decided to start in Brazil because there's a huge lack of good crypto services providers here. From here, we are talking with other top bank partners to support global operations, which will be the next step after Klever Bank goes live in Brazil.
Question 9. What is the overarching mission and ultimate goal of Klever, and what is it that drives you and your team to create the products in the Klever Ecosystem?
A: Our goal is to create the most secure and easy to use crypto products and accelerate the adoption of decentralized finance by empowering people to equal economic opportunities.
On a personal level, I was born into a very poor family, lived in the Favelas (slums) of São Paulo and had no promise or perspective in life. But I was sure that my destiny was not there, not where I lived and grew up. After initially learning how to code, I decided to compete with myself in order to become a world class professional in software engineering and architecture. My goal was to be able to create any kind of software I could imagine.
It is now my life mission to ensure that Klever provides the tools that I lacked during my upbringing, making sure they are available to anyone who seeks to remove the shackles of financial burdens and be part of the crypto revolution to truly own their money. Klever's ultimate goal is to be the self-bank for 7.8 billion people.
This is what drives our team, now consisting of over 50 Klever developer ninjas, every single day. We will not stop until we have achieved our goals!
Question 10. One can see on the Roadmap that you have lots of great upcoming plans, events and updates for Klever. So for you personally, what are you most excited to happen, or what is Klever most eager to achieve and why?
A: I think each Klever product has its value and its unique goals. This is just the beginning of our journey and I’m sure we’re heading in the right direction. In the immediate term, I’m personally excited to see the Klever Exchange app ready. I think it will be a game changer for the entire industry. The simple and elegant user experience, low threshold for trading, the speed of 3 million transactions per second for the trading engine coupled with the iron-clad security architecture ensuring the safety of users’ funds makes for a very potent and powerful product.