KIRAKIPs 71-87: Collaborative Custody
Congratulations on making it this far. This is the tenth article in a series about KIRA Improvement Proposals (KIPs) 71-87. The first four sets covered staking incentives, network governance, staking economics, and INTERX. This is the first article of the fifth set, focusing on KIRA’s essential infrastructure. Despite significant innovations in the blockchain space, user experience has often been a lower priority. As KIRA approaches mainnet, it’s clear that improving user experience is crucia...
KIRARedefining KIRA: The journey starts with a single step
The only constant in the broader crypto ecosystem is change - a realm of cyclical fluctuations where finding balance and staying true to one's principles can be challenging. As the sands of time shift, as old narratives and promises fade, axioms become evident and a new era of crypto starts to unfold. We are constantly in pursuit of the principles that endure through these changes. It has been quite some time since KIRA began its voyage through the interchain paradigm of the blockchain u...
KIRAFinal Token Distribution
The first and most important duty of a parent is to nurture their child towards independence. Similarly, the time has arrived for the KIRA project to embark on the next stage of its maturity. In our preceding articles, we outlined a fresh trajectory for the project and revealed the launch of "ChaosNet", a fully featured network that allows anyone to explore and assess the scale and direction of KIRA. Ensuring a fair distribution of its native staking token is crucial for the project's lo...
Trustless computing infrastructure that enables AI and resource-intensive applications to thrive. Powered by $KEX.
KIRAKIPs 71-87: Collaborative Custody
Congratulations on making it this far. This is the tenth article in a series about KIRA Improvement Proposals (KIPs) 71-87. The first four sets covered staking incentives, network governance, staking economics, and INTERX. This is the first article of the fifth set, focusing on KIRA’s essential infrastructure. Despite significant innovations in the blockchain space, user experience has often been a lower priority. As KIRA approaches mainnet, it’s clear that improving user experience is crucia...
KIRARedefining KIRA: The journey starts with a single step
The only constant in the broader crypto ecosystem is change - a realm of cyclical fluctuations where finding balance and staying true to one's principles can be challenging. As the sands of time shift, as old narratives and promises fade, axioms become evident and a new era of crypto starts to unfold. We are constantly in pursuit of the principles that endure through these changes. It has been quite some time since KIRA began its voyage through the interchain paradigm of the blockchain u...
KIRAFinal Token Distribution
The first and most important duty of a parent is to nurture their child towards independence. Similarly, the time has arrived for the KIRA project to embark on the next stage of its maturity. In our preceding articles, we outlined a fresh trajectory for the project and revealed the launch of "ChaosNet", a fully featured network that allows anyone to explore and assess the scale and direction of KIRA. Ensuring a fair distribution of its native staking token is crucial for the project's lo...
Trustless computing infrastructure that enables AI and resource-intensive applications to thrive. Powered by $KEX.
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This is the second of a series of articles aimed at unpacking the contents of KIRA Improvement Proposals 71-87. The first set of these articles will cover Group 1 of these KIPs, detailing the economic incentive structure for staked consensus nodes on KIRA.
This article is about the UBI (Universal Basic Income) and Fee Reward Distributor modules. These modules economically reward honest, active, network participants, aiming to foster non-Sybil behavior in line with the KIRA Code of Conduct.
Universal Basic Income
UBI is an incentivization model in which every non-Sybil network participant such as consensus node operators or governance members can earn KEX tokens, enabling these actors to perform their roles and ensure long-term maintenance of network operations.
KEX tokens are periodically issued to spending pools responsible for UBI distribution. Accounts belonging to non-sybil participants are added as beneficiaries to these spending pools, from which they may claim their share of the rewards.
KIRA defines a fixed maximum amount of KEX that may be inflated each year to UBI. This figure is immutable and not subject to governance.
Fee Reward Distributor
In KIRA, execution fees may be paid in any whitelisted token at a defined rate - these fee rewards are equally divided amongst all active consensus nodes regardless of their wealth, stake or number of delegators. These execution fees are a source of incentive for consensus nodes to maintain network operations.
The fee rewards distribution module periodically distributes a configurable percentage of all the accumulated execution fee rewards (paid by users) to all active consensus nodes. Initially these rewards will be entirely distributed to consensus nodes, later transitioning to a 50/50 split between stakeholders and consensus nodes once the staking module is live.
How This Benefits KIRA Participants
UBI and fee rewards are essential incentives to bootstrapping and sustaining long-term non-Sybil participation in KIRA Network. These economic rewards ensure that consensus nodes and governance members remain active and behave in line with KIRA Code of Conduct.
Stay tuned for the next article covering the Staking Module.
Follow KIRA on our social platforms to stay in the loop with what we’re building:
WEB | X | GITHUB | TELEGRAM | DISCORD
This is the second of a series of articles aimed at unpacking the contents of KIRA Improvement Proposals 71-87. The first set of these articles will cover Group 1 of these KIPs, detailing the economic incentive structure for staked consensus nodes on KIRA.
This article is about the UBI (Universal Basic Income) and Fee Reward Distributor modules. These modules economically reward honest, active, network participants, aiming to foster non-Sybil behavior in line with the KIRA Code of Conduct.
Universal Basic Income
UBI is an incentivization model in which every non-Sybil network participant such as consensus node operators or governance members can earn KEX tokens, enabling these actors to perform their roles and ensure long-term maintenance of network operations.
KEX tokens are periodically issued to spending pools responsible for UBI distribution. Accounts belonging to non-sybil participants are added as beneficiaries to these spending pools, from which they may claim their share of the rewards.
KIRA defines a fixed maximum amount of KEX that may be inflated each year to UBI. This figure is immutable and not subject to governance.
Fee Reward Distributor
In KIRA, execution fees may be paid in any whitelisted token at a defined rate - these fee rewards are equally divided amongst all active consensus nodes regardless of their wealth, stake or number of delegators. These execution fees are a source of incentive for consensus nodes to maintain network operations.
The fee rewards distribution module periodically distributes a configurable percentage of all the accumulated execution fee rewards (paid by users) to all active consensus nodes. Initially these rewards will be entirely distributed to consensus nodes, later transitioning to a 50/50 split between stakeholders and consensus nodes once the staking module is live.
How This Benefits KIRA Participants
UBI and fee rewards are essential incentives to bootstrapping and sustaining long-term non-Sybil participation in KIRA Network. These economic rewards ensure that consensus nodes and governance members remain active and behave in line with KIRA Code of Conduct.
Stay tuned for the next article covering the Staking Module.
Follow KIRA on our social platforms to stay in the loop with what we’re building:
WEB | X | GITHUB | TELEGRAM | DISCORD
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