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Kira Network
About Kira Network
Kira Network (KEX) is a modular network designed for the execution of trustless, blockchain-less Layer 2 (L2) applications. It integrates a programmable consensus framework to support secure, scalable, and efficient cross-chain transactions, particularly suited for resource-intensive applications like gaming and AI. The KEX token is central to the network, used for staking, governance, transaction fees, and liquidity incentives. Co-founded by Milana Valmont, Mateusz Grzelak, and Yuri Papadin, Kira Network aims to enhance interoperability and security in the DeFi space.
Kira Network is a hypermodular network that supports the execution of trustless, blockchain-less applications operating as Layer 2 (L2) systems. The platform provides a programmable consensus framework that allows each application to verify its execution validity through customisable finality rules. This design consolidates the entire infrastructure stack into one all-inclusive solution, which avoids the complexities and risks of integrating separate external systems. Kira Network aims to deliver a scalable and secure environment for resource-intensive applications, such as gaming and AI, and supports a wide range of decentralised finance (DeFi) operations through its unique Multi-Bonded Proof of Stake (MBPoS) mechanism.
KEX is integral to the functionality of the Kira Network and serves several purposes:
1. *Staking and Security*: Users can stake KEX and other assets to contribute to the network's security and earn staking rewards. This supports the MBPoS mechanism, enhancing the security and liquidity across the platform.
2. *Governance*: KEX holders have voting rights on governance proposals, allowing them to influence key decisions such as protocol upgrades and policy changes.
3. *Transaction Fees*: KEX is used to pay transaction fees on the network, facilitating the execution of trades and transfers.
4. *Liquidity and Incentives*: KEX incentivises users by providing rewards for staking and liquidity provision, encouraging active participation and liquidity in the network.
5. *Cross-Chain Operations*: KEX enables the seamless staking and trading of assets from various blockchains within the Kira ecosystem, promoting a highly interoperable DeFi environment.