LBank AMA Recap with KIKI
On 14 June we held an AMA with the KIKIFINACE team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
I am leon from KiKi Finance
I am in charge of the product design and development.
KiKi Finance is a decentralised Staking platform,
We supports users to stake multiple crypto assets with consistent user experience on KIKI.
1. What are your plans in 2022? What features does your project have to compete in this crypto world and give investors peace of mind?
$KIKI is deployed on Ethereum and Terra currently, and will deployed on more high-performance public chains such as BSC soon. $KIKI will realize one token switches between different chains by cross-chain bridges which enables users easily participate in the application of $KIKI in various ecosystems.
With the rise of ecosystems such as Solana and Cosmos, KiKi Finance will support the staking of related high-quality assets. Functions such as lending, liquidity staking, and single-token governance will also be launched soon.
For safety guaranteed and easy-to-use:
Different with centralized stake pools, KiKi Finance only provides staking channels. Users vote and get rewards through smart contracts, assets are not transferred, and the control still belongs to users. All staked assets can be withdrawn flexibly, and no minimum and maximum investment limit, which is applicable to all kinds of users.
KiKi Finance eliminates the selection of nodes and troublesome on-chain operations. After connecting the wallet to KiKi Finance, users can participate in the on-chain staking with one click, and realize a multi-chain “layout” on one platform. After the stake is successful, the rewards will be paid out daily, the rewards can be claimed at any time. Metamask, Trust Wallet, Wallet Connect are currently supported.
2. Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?
Although there are already some good staking applications in the market, but we believe that there are still many opportunities for Staking+DEFI products and services.
The core function of KiKi Finance is to provide a one-stop decentralized Staking service. Users complete node voting on chain through KiKi Finance to get high APR rewards. In order to further improve the user’s income level ,KiKi Finance provides a high-yield liquidity mining pool in addition to the Staking. Users can obtain higher returns than ordinary Staking through the combination model of Staking+Farm.
KiKi Finance makes full use of high yield to obtain token value. It adopts the combination of “Staking+Farm” to provide users with higher APY rewards of mainstream tokens than other platforms. This method encourages users to hold platform tokens for a long time, allowing the asset value to settle in the network, reducing the selling pressure on the secondary market to a certain extent.
3、What is the most ambitious goal of KIKI project? What is the ultimate vision that KIKI project is trying to achieve within the cryptocurrencies market?
In fact, KiKi Finance’s white paper shows that Staking is only a starting point for it to embrace DAO and Web3, and KiKi Finance wants to do more than Staking.
I am going to share a screenshot for the big picture.
The first stage of KiKi Finance is to build a multi-chain aggregation Staking platform and become the traffic portal of the KiKi ecosystem. In the second stage, Kiki Dao will be launched to bring more rights and interests to platform users, it will also work with the Innovation Fund to make decisions on POS investment projects. In the third stage, Kiki open platform will be launched to cooperate with multiple GameFi platforms to provide these platforms with third-party services such as game asset staking and loan. In the fourth stage, KiKi Metaverse is born, where users shape their personal image and realize platform social freedom.
The essence of market competition is often not to stare at competitors, but to serve users, KiKi Finance has planned a long way on this point.
Kiki Finance is not limited to Staking, but continues to bring innovation to users, providing users with a platform integrating revenue, decision-making, games and social networking, so that token holders can continuously benefit from innovation. The ultimate goal is to create a cohesive super community.
4. Who are your targeted audience and customers? What regions do you target specifically or are there any restriction to users? Some other projects or protocol can copy the real word items too. How can you make sure it is only represented by your project? Thanks
• Crypto enthusiasts
• Investors with a preference for high-return investments
• Domestic investors accounted for a large portion
• Long-term token holders
• Investment institutions
5、Do you have any plan on doing an audit on your smart contract? If yes when are you planning to do this and which firm are you going to use for this?
The contract has been audited by Certik and PeckShield, the authoritative audit institutions in the industry.
60% of $KIKI comes from community mining, and the income is proportional to the TVL contributed, which is fairer for users who generate staking to participate in validator. This mechanism also effectively prevents speculation and reduces selling pressure to maintain the stability of the currency price and APY. Secondly, when TVL rises, the release of $KIKI increases, and the platform’s revenue also increases accordingly. The KiKi Finance team will use 80% of the platform’s revenue to buy back $KIKI to keep the token’s liquidity and price stable in the market, and to ensure users receive stable staking rewards. Furthermore, when the user receives the income, they will get 20% of the total staking reward of the day, and the remaining 80% will be released linearly at the rate of unlocking 1% per day, which will not cause the market circulation of $KIKI to rise and greatly avoid the currency price in a short period of time. trample. In addition, $KIKI used for investment, ecological funds and market fees will also be released linearly over time to control selling pressure and stabilize the price of $KIKI.
6、I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your token over the existing one? What is your token advantage that can convince me to change from my favorite token?
First, KIKI holders will have the opportunity to receive token airdrops from multiple staking projects on the platform to obtain revenues；
Second, KIKI can be used to purchase limited NFTs and game assets in the future as social tickets for KiKi Finance；
Third, KiKi Finance will set up KiKi DAO, where KIKI users can participate in voting to decide which projects can be listed on KiKi Finance in the future, and holders of geek spirit will also participate in the core content of KiKi Finance technology development.
Therefore, KIKI is completely different from the governance tokens of ordinary DeFi and Staking protocols. It has value-added benefits， the longer it is held, the more opportunities to get rewards. Users who participate in decision-making will gain more revenues from DAO governance after the launch of KiKi DAO
KiKi Finance team will regularly repurchase KIKI with 80% of its income. The more the number of repurchases, the less circulating on the market. This sense of scarcity directly pushes up everyone’s imagination of KIKI’s value-added.
In summary, KiKi Finance is not inferior to the predecessors of of the Staking track in terms of comprehensive strength，and has its own advantages. KiKi Finance simplifies the steps for users to participate in Staking to the greatest extent and reduces the entry threshold for users to Staking. KiKi Finance effectively stabilizes the return on investment at more than twice the normal return rate through the token economic model, helping users add value and endowing tokens with more functions.
7 Smart contracts are prone to failure, and many projects have experienced it, resulting in user funds being lost and projects being discredited. What is the level of trustworthiness and security of your smart contracts? Did you put it to the test with either party? Thank you
Asset security issues are the top concern of many crypto users
Users get rewards by voting through smart contracts, the assets are not transferred, still kept in user’s wallet.
The contract is open soured on Github and has been audited by Certik and PeckShield. The link can be found on the KiKi Finance official website.
Hello @LeonSun Funding is an important part for any project. So I want to know how much funding you raised from the Investor?
You are right. We closed a multi-million dollar seed round a few months ago.
Hello @LeonSun Where I can get the latest updates or more information about the project?
Please follow the twitter : @KiKi_Finance, You will never miss any latest updates
Hello @LeonSun Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
We are global project. The user community is definitely what we focus on, and the community is the most important.
Hello @LeonSun During these days, be a Multi-chain platform is an obligation to be considered a competitive project, so can you explain who how many chains are you able to suppot?
We plan to launch more than 40 POS blockchains in the next 1 year.
Hello @LeonSun How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
There are more than 20 guys in our team. The core team has been doing staking business for 4 years, all core team members come from Crypto Staking department of the top 3 exchange in the world.
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