Recap AMA Kira Network x Vietnam Coin Market Community

10 min readSep 9, 2020

Hubert: Hello everyone,

Only 12 minutes left and the AMA event of Kira Network will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and Kira Network project’s representative is @miLanavaLmont and @asmodat.

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“Kira Network”

Today’s AMA session is composed of 4 parts:

1 — Say hello, introduce the project

2 — AMA moderator asks the project 5 questions that will be selected first.

3 — Ask the community (unmute the channel and let the community ask questions freely on telegram. Then the guests will choose about 10 good questions to answer)

4 — Quiz — Give 10 quizzes to the community to answer

You must complete the task at this Tweet. All violations will result in cancellation of AMA results:

https://bit.ly/2DAbE2m

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @miLanavaLmont and @asmodat.

Mateusz: Hello everyone!

Milana Valmont: Hello everyone!

Hubert: It’s a pleasure to all of you who participated in the AMA today.

Hubert: Could you briefly introduce about yourselves as well as your project?

Mateusz: My name is Mateusz, Kira CTO. I am an electronics engineer, in crypto since late 2011, and involved in the interchain space for the last 3 years. I 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 we started Kira with @miLanavaLmont.

Milana Valmont: Hi everyone, my name is Milana Valmont, I have a corporate finance background from NY. I got the crypto space first as an investor in early 2017 and later the same year I joined Binance exchange as a community volunteer.

Mateusz: After that I have worked as project manager for Adcoin com and was an adviser to Sentinel dVPN. In 2018 I joined Knoks platform as head of strategy, and by mid 2019 I dedicated my full attention to Kira as CEO.

Kira is a new Defi application that enables any asset within interchain ecosystem to benefit from the access to the market without loosing out on the staking rewards. Bringing yield farming to the extreme
Hubert: Welcome!

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the Kira Network project stand out more than the projects in the same direction at the moment?

Mateusz: There are not many projects goin in the similar direction that Kira. We are the very fist project to come up with idea to use multiple tokens to secure PoS consensus, and we took this concept even further by enabling all that value at stake to power the DeFi application deployed on top. In that respect we stand out as the only one to use this approach to power the economy yet make zero compromises security wise.

Hubert: We will come to the next question:

Who are some business partner/clients for Kira Network?
Mateusz: Any token holder can benefit from yield farming on Kira. There are no limitations as its possible to stake and digital asset, cryptos such as BTC, digital fiat and even NFT’s. Also speculators and traders benefit vastly thanks to ever growing liquidity along growing value of tokens at stake — which are liquid and can be traded directly on Kira. Partnership wise DAO’s and NFT projects can vastly benefit from our network — as they can yield farm while managing funds in case od DAO’s and have access to the market and block rewards in case of NFT’s

Hubert: Wow, this is the coolest thing I’ve ever seen. Very few projects do this and are on the way.

Mateusz: No one does this because this requires a custom consensus — which we created on our own to make it possible -> Multi Bonded Proof of Stake.

Hubert: Exactly. So I was very surprised by it.

Hubert: We will come to the next question:

What are the memorable milestones of Kira Network in the research and development process?

Mateusz: Right now we are working on the public testnet release which should come in around 2 months from now, on the testnet people will have the ability to test our governance permissioning system, which will be used for self evolving the governance system for the Kira and of course everyone will have ability to run a validator node. We are targeting the mainnet launch at the end of Q4 and we are launching in similar fashion to polkadot.

Hubert: Thank you. In about 2 months there will be many interesting things.

Milana Valmont: Yes and more partnerships as well as the public round coming soon.

Hubert: Are you ready to come to the final question of segment 2?

Milana Valmont: Yes

Hubert: What does Kira Network plan to do to attract more users in the upcoming time?

Milana Valmont: We are doing a lot of AMAs, pushing educational and visual content in various platforms across the West, and Asia. We will have the whitelist for the public round and few competitions that come along it, as well as the stake drop, so stay tuned for the updates on our tg channel :).

Hubert: Great! :)).
The last question is already done. Thank you @miLanavaLmont and @asmodat for bringing the above useful information.

Next, the Vietnam Coin Market Community will open a chat for the community to ask questions to the project. We will have 3 min to ask. The Kira Network project will then choose 10 questions to answer.
Please do not copy questions asked by Vietnam Coin Market Community.

Let’go!

Now!

Let’s give some mins for @miLanavaLmont and @asmodat to choose 10 questions to answer.

@miLanavaLmont and @asmodat, you may proceed now.

Question 1. As we know Scalability is a major problems in most of Blockchains & Dapps. So, How Your Project solves Scalability problems and allows Dapps a great scalability?

Scalability wise we use hub spoke architecture just like Cosmos, execution happens on the zones, so blockchain application is fully sharded. Interoperability wise we use IBC and XCMP from cosmos and polka to trustessly transfer assets.

Question 2. What is Kira Network governance mechanism like? Who has the right to participate in the voting process? What are the requirements to participate?

Kira uses Network Actor Permissioning which ensures that the governance system can not only efficiently define roles and permissions of its own members but most importantly expand and self-evolve its own structure. A good example of evolving a governance model might be the creation of multicameral systems where subsets of councilors specialize in creating and voting on specific subsets of proposals. Another example might be a separation of power through checks and balances systems where governance branches have the power to check and limit each other, thus preventing a single governance branch from achieving privileged positions.

Question 3. What companies are you partnered with or seeking to partner with in future ?

We have partnered with Simply VC, Persistance, Sentinel vnp, Finance . vote.

We will announce more partnerships in the upcoming weeks. Basically projects who are asset issuers, NFTs and DAOs.

Question 4. Why does KIRA use Sharding technology? Is Sharding in KIRA really safe? What is the difference of sharding technology you are using compared to other technologies (like ZIL) …?

Our interchain exchange protocol module on our Kira Network will be sharded, that means subset of validators operates subset of blockchain application logic, this is secure because we use fisherman approach that was introduced by Polkadot and we make sure that there is more value at stake than the value deposited to the shard, this means validtors that misbehave have more to lose than to gain. And we use sharding for scaling, so we can unlimited order books and fast speed

Question 5. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?

It matters to the governance of the network, that has skin in the game and controls all aspects of the economy such as interest rates for staking foreign tokens or inflation rate within certain safety thresholds. The better the governance fine-tunes all the financial mechanisms they manage the more revenue they can make for themselves and all token holders. Value of Kira token will be correlated with the economic output and stability — that mens efficiency of the governance system.

Question 6. What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?

Thanks to our consensus the Multi Bonded Proof of Stake you can stake any assets, that includes NFTs, such as digital real estate, luxury and art goods, and gaming digital items. We are planing to partner with NFT projects in the future so we can fascinate the NFT market place on Kira where users can stake their gaming digital items for example and earn revenue.

Question 7. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like your?

In crypto you need to observe the space and go with the flow, we are not building Kira for ourselves or as a scientific experiment but for real users in crypto and beyond. For that reason we focused on what the ecosystem needs, we started with the idea of a proper sharded market access for any digital asset in the interchain ecosystem and we wanted for people to utilize their capital and not just sit on their bags without doing anything with it, which I’m sure you’ve noticed was happening a lot during the bear market.

We’ve also wanted to find ways for Kira to bring capital from outside of the crypto ecosystem. Our goal was always to develop a self sustainable and self-evolving network, fully operated and controlled by the community rather than a small circle of crypto-wealthy individuals.

Question 8. Let’s talk about transparency. Recently, numerous DeFi project exit scams have emerged. So, my question is How we can ensure us that Kira Network will never scam in any way?

Full token release schedule will be publicly disclosed before public round so there will be no surprises in terms of how much assets enters the market and easily traceable on-chain. Kira has a very long and conservative vesting for majority of tokens that will enter the market.

Question 9. What is the purpose of Kira Network to bring real-world assets such as digital fiat and commodities for staking options? What do you think the opportunities to staking these types of assets in the future?

People can stake any assets and earn revenue is something of value to non jsut crypto traders and users but also regular people.

Question 10. What is the minimum and maximum amount of $ KEX tokens I need to be able to stake with KIRA? What other requirements must I meet? and how much% of profit will I get?

There will be no minimum required, you must be simply in possession of any token that is whitelisted for staking by the governance of the network.

Hubert: Thank you @miLanavaLmont and @asmodat for replying to the community.

Hubert: Tks sir

We will go to Segment 4, the Kira Network project will ask the question. The first 10 correct answers will have a chance of winning. I will spin after AMA with these cases. Choose the luckiest one of these to receive a reward / each question.
Each person can only answer 1 time / 1 question

Please join the Kira Network Vietnam group to join the Quiz:

http://t.me/kiranetworkvietnam

Quiz 1. Which two protocols is Kira using to interconnect with other networks?

A. IBC from Cosmos and XMP from Polkadot

B. XMP from Polkadot and NEAR protocol

C. IBC from Cosmos and Origin Protol

D. None of them are correct

Quiz 2. Which 2 ecosystems is Kira part of?

A. E-commerce and Real estate

B. Interchain and Web3 ecosystems

C. P2P lending and DEX

D. All of them are correct

Quiz 3. Which consensus mechanism is Kira using?

A. DPoS

B. POS

C. POW

D. MbPoS

Quiz 4. What digital asset types can you stake on Kira?

A. Any

B. BTC

C. USDT

D. DOT

Quiz 5. What is the benefit of staking KEX (kira native tokens) vs staking other assets?

A. Random airdrop of DOT and ATOM

B. Looks cool

C. More fees/profit

D. Free lottery ticket to win a Lamborghini

Quiz 6. How is Kira’s security mechanism different from other PoS chains?

A. Isolate staking and assets management system

B. Multi staking increases security of our network

C. All staking assets will be handled by some tech guys

D. None of them are correct

Quiz 7. Is Kira decentralized? and how so?

A. Yes, community who has skin in the game participates in Kira’s governance

B. No, we don’t trust decentralized system so we built our own centralized project

Quiz 8. How does Kira Network solve scalability?

A. By using TIDS architecture

B. By using Alien technology

C. By using Hub spoke architecture

D. By using AI technology

Quiz 9. What are #Kira’s advantages over centralized exchange (CEX) and decentralized exchange (DEX)?

A. We got backed by Bruce Wayne and Tony Stark

B. We are faster than DEXs and more secure than CEXs

C. We have more airdrop CEXs and DEXs

Quiz 10. Who can join Kira’s validator set?

A. Anyone on earth can join

B. Those who are elected by Kira Network

C. Nobody can join except Kira Network

D. Those who are elected by the governance

So the AMA Kira Network at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the Kira Network project. I am the moderator today. Congratulations to the Kira Network.

Thanks @miLanavaLmont and @asmodat for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the Kira Network community for further assistance. Thanks everyone.

https://t.me/kirainterex

https://twitter.com/kira_core

Website: https://interchain.exchange/
VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://medium.com/@chocoin_VN

Youtube: https://www.youtube.com/c/vietnamcoinmarket

Twitter: http://twitter.com/chocoin_VN

Facebook: http://facebook.com/chocoin_VN

Vietnam Coin Market Community: http://t.me/chocoin_VN

Angel Investor Community: https://t.me/AngelInvestorCommunity