DeFi - Kirobo - The freedom to control your crypto

Social messaging wallets — are they the future?

gadudi — Mon, 06 Dec 2021 16:24:49 +0000

Cryptocurrency adoption is growing throughout society, with a huge community and industry events attended by thousands of people. These communities are centered around social platforms, like Reddit or Twitter, and messaging apps like Telegram. As a result, developers have begun creating wallets to cater to these communities – software applications that offer crypto storage services, messaging and web3 browsing. These apps allow you to chat with your friends in a private and secure way, protected with blockchain encryption. There are other apps too that aim to improve the experience of existing platforms like WhatsApp and Telegram.

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Alty

Alty is a blockchain project based in Barbados that brings blockchain to Telegram and WhatsApp, adding crypto-based features to existing crypto groups. One of the main problems these groups face is that they are flooded with spam accounts. These accounts send annoying, repetitive messages, often loaded with viruses, and harass individual users with private messages. Alty puts an end to this by adding application forms to all groups, so administrators can get to know potential members and why they want to join. Moreover, groups can demand a subscription fee, if they think that the content they share is worth paying for. These features greatly improve the user experience by making groups safer and reducing the amount of spam messages. Alty also offers tools to manage and analyze data shared by the users while preserving the privacy – a useful tool for companies and startups. Group administrators can also offer rewards in cryptocurrency to users who perform specific tasks. Participants of the groups can store and send cryptocurrency for payments and tips. Although it launched first on the Ethereum blockchain, Alty recently migrated to Algorand due to Ethereum’s high network fees.

Status

Status is an Ethereum dapp that aims to decentralize social messaging platforms. It allows users to store and trade tokens, and also join popular Ethereum dapps like CryptoKitties and Decentraland. The Status app also allows users to communicate with each other through an encrypted P2P messaging platform. It uses blockchain technology to monetize this and preserve user privacy. For example, instead of relying on invasive ads and information theft, Status users can opt to pay dapps to send them push notifications. It also hosts a sticker market, where designers can create stickers and sell them to other Status participants. To prevent spam, users can set a minimum payment to receive messages. The payment must be done in SNT, the native token of the platform, and is returned to the sender once they get a reply. There is also a Teller system, where Status users can meet and make crypto-fiat trades. Sellers of cryptocurrencies must pay SNT to participate. It launched through an initial coin offering in 2017 and raised $99 million in a single day.

TrustKeys

TrustKeys is an innovative software that describes itself as a ‘super app’. It offers a wallet, like Status, but also has an integrated exchange and a social network, similar to Facebook and Twitter. The exchange allows you to trade your tokens instantly on the same platform, while the social network allows you to connect with other users and stay up to date with crypto news. All information on the social app is stored on the blockchain, so users can rest assured that it’s secure and tamper-proof. It runs on the Ethereum, BSC, and Solana blockchains, and can store all tokens in these networks. The wallet can also store NFTs. The TRUSTK token serves the purpose of paying for in-app fees and services, and paying rewards for contributions to network development and governance issues. The development of TrustKeys began in 2018, and the official launch took place in September 2021.

Kirobo P2P Swaps

All these tools can be paired with Kirobo’s P2P Safe Swap. This feature allows you to create instant decentralized swaps with other peers, at your own prices. Moreover, you won’t be charged for the service beyond standard gas fees. In addition, Kirobo swaps are secured with the Kirobo Undo Button. This feature protects your assets, preventing you from making a mistake when entering a receiving address. It lets you create a password locking the transaction until the recipient can demonstrate knowledge of that password – and the sender can cancel the transaction if something isn’t right. Try Kirobo’s P2P Swap Button now.

הפוסט Social messaging wallets — are they the future? הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

The benefits of liquidity providing

gadudi — Mon, 06 Dec 2021 16:20:41 +0000

In the current crypto landscape, providing liquidity to DeFi protocols is one of the most profitable activities. This is thanks to the automated market maker (AMM) protocol, which provides traders with instant liquidity anytime they want to trade. The term ‘liquidity provider’ wasn’t born with crypto, but the crypto market is giving it new life and putting it center stage.

What is a CEX?

CEX stands for centralized exchange, and these are the models that the DEX was created to break. These exchanges are owned and run by central companies which hold the funds and perform the operations. All centralized exchanges work with the order book model. Traders post their bid and ask orders for a specific amount at a specific price, and the algorithm executes matching orders. With these exchanges, all funds must be deposited in an exchange wallet. DEXs, on the other hand, never hold the funds of the users; they trade directly from their own wallets. While CEXs allow for faster trading with high liquidity, they come with risks. For example, they are more attractive to hackers because they hold enormous amounts of cryptocurrency.

What is DeFi?

First, what is DeFi? It means ‘decentralized finance’, which refers to the creation of traditional financial market services via blockchain technology. It’s become a movement, defying the old school and creating a new financial ecosystem that anyone can take part in. The goal of DeFi is to provide open access to financial markets to anyone, with no third parties, no intermediaries, and no censors. All operations are transparent and recorded on a blockchain. This way, these services are not only available to anyone regardless of who or where they are, but are also faster, completely automated and fully decentralized. DeFi protocols use smart contracts to create and manage financial products and services that are non-custodial in nature.

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What is a DEX?

Decentralized exchanges, as the name implies, are venues where cryptocurrencies can be traded on a peer to peer basis. DEXs were the first applications of Ethereum’s smart contract capabilities. EtherDelta was one of the first DEXs to gain widespread recognition. It uses the old order book model, as do its centralized counterparts, but in a peer-to-peer manner, managed by a smart contract. Order books are pretty efficient in centralized markets and have worked for centuries. In the crypto space, however, they quickly proved to have the opposite effect. The low number of users resulted in low liquidity, which made the exchanges difficult to use, and the lack of liquidity drove users away. This vicious cycle necessitated a new solution. The solution that appeared was the automatic market maker protocol, or AMM. This protocol became popular in 2020. The first AMM-based exchange was Uniswap, which was initially launched in late 2018. Unlike order book-based exchanges, AMM exchanges rely on liquidity pools in which users deposit pairs of tokens and are rewarded a fee for every market transaction in which they participate. With the rise of DeFi, Uniswap became more popular, and alternatives using the AMM model were launched. SushiSwap also marked an important milestone in AMM history by introducing a native token and staking benefits.

Being a liquidity provider

As we mentioned, liquidity providers (LP) deposit funds in the form of token pairs, powering the exchange’s ecosystem. This takes place mainly in DEXs like Uniswap, SushiSwap, and PancakeSwap. Let’s take a look at the pros and cons of participating in liquidity pools.

Pros of being a liquidity provider

Great opportunities: Liquidity providers get paid for their service, and given the popularity of DEXs – which also work as a gateway to other DeFi protocols – providing liquidity to the right trading pair can offer really high benefits in very little time.
Low entry barriers: Unlike traditional finance, almost anyone can act as an LP. You don’t need to start out with millions, but rather deposit small accounts and slowly make bigger profits. However, keep in mind that rewards are paid proportionately, according to how much you put in.
Financial freedom: Although funds are locked when you deposit them in the smart contract, they can be withdrawn anytime. If you don’t want to continue providing liquidity for a certain pair, you can take it back.

Cons of being a liquidity provider

You could lose money: All financial operations carry a certain degree of risk. When providing liquidity to LPs, you could suffer an impermanent loss. When prices change, the ratio of coins in the pool varies. So if you withdraw at a different price, the nominal amount of each token will be different from the one you deposited first.

Kirobo staking lets you make more money with your money!

As a liquidity provider, you’ll receive an LP token from Uniswap that represents your share in the pool. Kirobo offers a better way to get rewarded for that service – you can lock your LP token in a smart contract and make up to 230% APY for the service. You receive the reward in KIRO from a pool that pays out a total of 500,000 KIRO a month to stakers. To sum up: you just need to add liquidity to KIRO/ETH pairs in the KIRO/ETH pool on the Uniswap V2 exchange and your crypto will generate…more crypto! A typical APY is up to 230% (figure subject to change). There is no minimum amount to deposit on Uniswap, so anyone can participate in it and start earning profits. As you advance and get rewards, you can increase your stake and multiply your income. For a step-by-step guide to staking with Kirobo, just click here.

הפוסט The benefits of liquidity providing הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

Binance Smart Chain – how far can it go?

gadudi — Mon, 06 Dec 2021 16:20:10 +0000

Ethereum has shown us that it isn’t yet suited for mass adoption. At times of heavy use, the network becomes congested and transactions are costly and slow, processing only 20-30 transactions per second (TPS) with its current architecture. That’s why alternatives have shown up in the market – other smart contract-capable blockchains with higher TPS rates. The biggest one so far is Binance Smart Chain (BSC), developed by Binance.

What is the Binance Smart Chain?

BSC is a smart version of another blockchain, the Binance Chain (BC). BC was created in 2019 to support the Binance DEX, the company’s proprietary decentralized exchange. It was in 2020, as DeFi protocols began exploding on the Ethereum blockchain, that developers of the Binance DEX noticed the limitations of BC. It could support tokens and trades, but couldn’t host smart contracts as effectively. That’s why Binance launched BSC, which does have smart contract support. It also has Ethereum Virtual Machine (EVM) compatibility, high transaction throughput and a block confirmation time of around three seconds. BSC can handle 55 to 60 TPS on average, and also has much lower fees than Ethereum. BSC’s EVM compatibility means that developers can easily integrate Ethereum-built protocols into BSC. Interfaces like MetaMask can also be adapted to support dapps and tokens created on the new chain. Which wallets are BSC-compatible? Binance itself recommends MetaMask, MathWallet, and Binance Chain Wallet for browser extensions. For those who prefer a mobile experience, Binance recommends MetaMask, MathWallet, Trust Wallet and SafePal. BSC protocols can use one of two token standards – BEP-20 and BEP-721. These are just like Ethereum’s ERC-20 and ERC-721 token standards, creating fungible and non-fungible tokens respectively. BSC was built as a parallel chain to BC, but it’s entirely independent. Tokens can be bridged between the two, and if BC fails or goes offline, BSC will keep working as usual.

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When was BSC created?

The development of the Binance Smart Chain was really fast. It was first announced in April 2020 and went live only five months later, on September 1. Most of its features are similar to those of Ethereum, but modified to achieve the required throughput. Barely a year after its launch, BNB, the BSC token, is already positioned as a contender to ETH in terms of market capitalization. It’s already surpassed Ethereum in levels of activity and has fostered the creation and migration of many DeFi protocols.

How far can BSC go?

BSC has grown very quickly, partly due to its features and partly due to the fact that Binance is one of the biggest cryptocurrency exchanges in the world. However, at the time of writing, Ethereum hosts more than 3,000 dapps while BSC holds 493. This is a clear disparity, but when considering the young age of BSC, it demonstrates a robust and promising network. Active addresses are also an essential on-chain metric to consider. Despite being a newer blockchain, BSC marked a high of 2,105,367 addresses on June 7, 2021. This surpasses Ethereum’s all-time high of 799,580 addresses on May 9, 2021. Pancakeswap, an AMM DEX similar to SushiSwap and Uniswap, was created in the early days of BSC and it’s still the network’s main venue for trading tokens. Other protocols have also shown great growth – Venus, for example. However, there are issues with BSC, and they come in the form of centralization. The fact that its development was conducted by a company makes it look like a private project, no matter how open-source it is. Apart from this, it runs on a consensus algorithm called ‘Proof-of-Staked-Authority’, which uses only 21 nodes to validate transactions. This setup enables high transaction confirmation speed, but also raises questions as to how trustworthy the network can be. Regular users can stake their tokens and delegate them to validators to earn rewards, but they don’t really get voting powers in return.

Kirobo may add BSC

Despite this issue, BSC is a very strong network with a lot to offer. In the coming months we can expect it to keep growing and hosting increasing numbers of dapps. As Ethereum’s upgrades go back and forth, BSC is a good choice for developers and users who don’t want to pay a fortune in transaction fees. Kirobo intends to add BNB to its list of supported tokens, allowing its thousands of users to swap and send these tokens safely using the Undo Button and the P2P Swap Button. With the Undo Button, a user who wants to make a transaction must create a password that they then give to the recipient, who needs to enter it correctly in order to receive the funds. If coins are sent to a wrong address, the owner of that address won’t be able to withdraw the money, and the user can cancel the transaction and retrieve the crypto. The P2P Swap Button allows users to trade supported tokens supported with peers, at your own prices. This means that you won’t lose money to slippage or extra transaction fees.

הפוסט Binance Smart Chain – how far can it go? הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

ChainLink — why is it so exciting?

gadudi — Mon, 06 Dec 2021 16:19:39 +0000

ChainLink is one of the most promising cryptos in the market right now, ranked #15 on CoinMarketCap and growing rapidly. With the boom of DeFi protocols that’s been going strong since 2020, ChainLink has proven itself to be one of the more valuable ones. But what is it about and, more importantly, is it really worth the buzz? The core concept of ChainLink is to combine on-chain and off-chain components in smart contracts. Its ‘Decentralized Oracle Network’ serves as a bridge between these two components, as well as connecting hybrid contracts with off-chain resources such as web services, other blockchains, decentralized storage, etc. Blockchain technology creates a way of conducting financial transactions in a trustless environment with no central parties, but its field of action is limited to input from within its own network. With DeFi protocols, it’s necessary to know the price of external assets, both in the cryptocurrency and traditional markets. In the middle stands ChainLink, with an ecosystem of data providers and node operators to ensure the information is correct. Providers who give real information are rewarded with LINK, the dapp’s token. If their information is false, they lose credibility and income. This way, they are incentivized to constantly provide real data. The information, once confirmed, is then used for blockchain-based services.

ChainLink history

The ChainLink protocol was first announced in late 2017, during the initial coin offering (ICO) fever. The LINK token launched at around $0.20 and remained low for the next couple of years. It was in mid-2020 when the Defi ecosystem started to blossom that the market saw the need to use ChainLink, and its price began to rise. By May 10 it reached $52.88, its current all-time high so far. After that, it fell below $15, and then bounced back in late June. Each LINK is worth $23.06 at the time of writing. Judging by its market performance, the project is really valuable in the long term, both as an investment option and as a usable DApp.

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Why is ChainLink so exciting?

ChainLink represents a lot of value for users. Besides improving the function of many other dapps, the ChainLink ecosystem itself can be very rewarding. The price of the token is on the up, so it can be considered to be a good investment. But it also allows anyone to set up a node and contribute to the growth of the ecosystem. Node operators get a passive income from its proof-of-stake (PoS) mechanism, which is less resource-intensive than proof-of-work (PoW). The ChainLink ecosystem is expected to grow, and that’s why Kirobo supports the LINK token in all its products. The Kirobo platform gives users the possibility to send tokens securely. You only need to create a password and introduce the address of the recipient. If you send it to the wrong address, the receiver won’t be able to withdraw it and you can reverse the transaction. This feature is also available in the P2P Swap Button, which you can use to trade tokens with other peers at your own prices, paying only Ethereum gas fees.

הפוסט ChainLink — why is it so exciting? הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

There’s only one way to get into crypto: join the community

gadudi — Mon, 06 Dec 2021 16:19:05 +0000

“No man is an island, entire of itself.” – John Donne. Like all apes, human beings are social animals. We gain our education and emotional fulfillment from the people around us, and moreover, none of us would survive to adulthood without the proverbial village helping to raise us. When it comes to business too, community is vital, creating strong brand loyalty and word of mouth advertising. Pre-internet, it was difficult to achieve this; traditional marketing techniques like TV ads, billboards and brochures don’t really bring customers together. And yet there are examples of businesses that thrived by fostering a community – Harley Davidson for example. The motorcycle company had been struggling to compete with imported vehicles, but during the 1980s began focusing on building a community based around a brand identity – a brotherhood of bikers. Nobody can argue that this wasn’t effective. When the internet came along, businesses and organizations soon realized that it was more than just a free international billboard – it gave them the power to create online communities. Nowadays, a business is unlikely to last long if it neglects its social media.

How does this relate to cryptocurrency?

Cryptocurrency is inherently related to the concept of community. A blockchain, by definition, exists on all devices on a network and functions via some form of consensus mechanism. In other words, each blockchain is a community and community powers each blockchain. Furthermore, unlike heritage organizations which had to change tactics to adapt to the internet age, cryptocurrency was born to it. There’s no decades-long history of Bitcoin being advertised on billboards in Times Square or sending brochures out to potential customers’ homes by the thousands. Instead, Bitcoin was born with a twin – an online forum called Bitcointalk.org where the first ever Bitcoin transaction was initiated. The forum was also the place where the word “HODL” first appeared. The extent to which online communities drive the crypto economy cannot be overstated; a 2020 study by Frontiers in Blockchain found a strong correlation between keyword frequency over social media and price changes in Bitcoin and Ethereum. For example, before the BTC price crash of 2018, keywords relating to regulatory restrictions and altcoin adoption increased threefold. In other words, cryptocurrencies owe their success, and their very existence, to the community.

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What does this mean for the user?

Cryptocurrency users know that online communities are the only reliable place to keep updated with the ecosystem. Online communities are where people find out about new projects, where they track the progress of existing projects, and where they can find trading partners. So you’re probably wondering – where are these places? Well, we’ll tell you.

Reddit is one of the top twenty most-visited websites in the world, with approx. 1.68 billion hits per day (according to SimilarWeb). It’s essentially a platform enabling people to open forums (‘subreddits’) dedicated to specific subjects – be it cats, calligraphy, catapults, cryptocurrency or cacti. Specific cryptocurrencies have their own subreddits too. The main cryptocurrency subreddit (reddit.com/r/cryptocurrency) has around 3.5 million members, and the opinions of these virtual communities can have a very real-world effect on prices. For example, one of the factors causing Dogecoin to jump to a market cap of 9 billion USD was hype circulating in a crypto subreddit called /r/wallstreetbets.

Slack

Slack, an acronym of “Searchable Log of All Conversation and Knowledge”, is a messaging platform created in 2013. It’s used by more than 600,000 organizations, and sees almost 130 million visits a day. Its emphasis on enterprise customers means that it’s limited in terms of ground-level community-building, but its importance in the crypto world cannot be ignored: in September 2021 the US SEC ordered Ripple Labs to release its employee messages on Slack as part of the regulator’s legal battle against the crypto company.

Twitter

Twitter was another significant factor in the infamous rise of Dogecoin (thanks to an infamous tweet by Elon Musk). The ubiquitous networking platform has more than 200 million users and revenue surpassing 3.7 billion USD, so when a conversation about a crypto project starts to gain traction, the price of the token tends to go up (or down, depending on the nature of the conversation). So influential is the platform that numerous celebrities have gotten into trouble for using it to promote some cryptocurrency or other.

Discord

Another instant messaging platform with hundreds of millions of users, and another key venue for cryptocurrency discussions. Designed for gaming, it has features that set it apart from other messaging apps, such as bots that track and reward quality answers. This both gives users an incentive to participate meaningfully and helps to prevent bots and scams.

Telegram is an encrypted messaging service where moderated groups housing up to 100,000 members can be opened by anyone. It’s used heavily in the crypto investment space, giving participants in crypto projects the opportunity to meet each other, make deals, and share news. One example of the utility of Telegram groups is the Kirobo P2P Swap Button. The service enables users to exchange tokens directly with one another at their own prices. But in order to do this, they need to find a swapping partner – and the dedicated Telegram group is one of the best places to do this.

Get involved!

One of the beautiful things about the internet is that it made the world a smaller place, and it can be stated that cryptocurrency is the financial version of this. Mass adoption of cryptocurrency will take control of finance away from big corporations and put it back at the community level, where it belongs. So why not get involved? Join the Kirobo Telegram group

הפוסט There’s only one way to get into crypto: join the community הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

What is Total Value Locked?

gadudi — Mon, 06 Dec 2021 16:18:16 +0000

If you look at DeFi protocols and dapps you’ll find that many of them mention their total value locked, or TVL. This metric has grown to be central to the DeFi ecosystem, comparable to market capitalization in the rest of the crypto market.

It represents the number of tokens at stake in any given protocol, multiplied by its price. Although the name might be misleading, since the funds are not actually locked, it is a good demonstration of how valuable a project is.

If the TVL of a DeFi protocol is high, it means a lot of users trust in the project enough to invest in it. TVL can also be measured in DEX trading pairs. In that case, it means the amount of tokens available for a given pair. A high TVL on a trading pair means both tokens are highly traded, and this liquidity benefits its market performance.

Another metric to consider is the TVL ratio, calculated by dividing the market capitalization by the TVL. Recently, TVL ratios have been used to gauge whether a token is undervalued or overvalued.

If the ratio is below 1, the chances are it is undervalued and will increase its price in the near future. However, this metric is not completely accurate and its efficiency has been disputed by some analysts.

TVL on Uniswap and PancakeSwap

Uniswap v2 and PancakeSwap are two of the most-used DeFi protocols in the ecosystem. These dapps together hold over $12 billion value locked, making them the second and third largest DEXs, according to DefiLlama. The first position is held by Curve, but this exchange only handles stablecoins.

Uniswap was the first automated market maker (AMM) protocol in the market, and the one that started the DeFi boom. There are currently two versions of Uniswap in the market (v2 and v3), both with specific trading dynamics.

If we sum the TVL of both versions of Uniswap it comes to over $7 billion, above PancakeSwap, but still below Curve. The only downside of this protocol is that it only operates on the Ethereum blockchain (although v3 also operates on Optimism, an Ethereum sidechain).

PancakeSwap is the Binance Smart Chain’s (BSC) counterpart to Uniswap. It only operates on BSC and it’s the largest DEX on that chain. It has grown a lot in the last months due to congestion on the Ethereum blockchain. In fact, Uniswap v3 uses Optimism to offer lower fees as a way of regaining lost users.

The TVL of PancakeSwap is $5.26 billion, with a TVL ratio of 0.8. This means it is poised to grow and become more valuable.

Staking liquidity on DEXs

The TVL of DEXs consists of tokens staked in liquidity pools (LP). LPs are the backbone of AMMs, enabling users to trade tokens instantaneously.

Liquidity providers receive a percentage fee for every trade, and pairs with high demand can be more profitable. However, providing liquidity for low demand pairs can also offer high rewards due to there being less competition.

LP staking is slightly different to PoS staking. With the latter, you hold funds at a specific address to secure the network and validate transactions. The rewards are less likely to happen and the entrance barrier is often high.

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Providing liquidity to a DEX is a better option for starters because there are fewer associated risks. You still need to research the project you will invest in, but security is better if you stick with renowned exchanges.

TVL over time

The rise of TVL over the past several months has been a demonstration of the DeFi ecosystem’s growth. Overall market TVL grew from $21.17 billion on January 1 to $157.5 billion on May 10, which was also around the time when many coins hit their all-time highs.

Source: DefiLlama.

After a month-long dip, the figure went back up and reached its current ATH of $183.2 billion on September 6. To put this in context, market TVL in 2020 went from $602 million to $20.79 billion, an increase of 3,353%.

The benefits of providing liquidity

The explosion in TVL demonstrates that DeFi applications are not only on the rise, but here to stay. The reason is simple – locking value in DEX is an effective way to earn money.

When a user stakes, they become a liquidity provider, and are thus providing a service: their tokens are being used by others to conduct trades.

Typically, doing so requires depositing two types of token in amounts of equal value. With Kirobo staking, for example, users deposit KIRO and ETH on Uniswap V2 and receive ‘LP tokens’ in return to prove their stake in the pool. They receive a fee of 0.3% (relative to their part in the pool) for every transaction on that pair, and can also earn rewards by staking those LP tokens via Kirobo.

Israeli, Canadian, and USA citizens cannot participate in the staking of KIRO

If you’re already a staking participant, there’s no need to do anything — the staking will continue automatically.

For a full explanation of how to complete this process, just follow this link.

Kirobo’s Uniswap V2 liquidity pool, click here

Content retrieved from: https://www.kirobo.io/what-is-total-value-locked/.

הפוסט What is Total Value Locked? הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

Staking – your crypto should be working for you

gadudi — Mon, 06 Dec 2021 16:11:47 +0000

Staking is one of the biggest benefits of cryptocurrency, allowing you to use your crypto to generate…more crypto! But what does staking mean exactly?

Liquidity providers and staking

Staking means putting some of your crypto into a dedicated smart contract, which can have a number of purposes. But for the moment we’re focusing on staking to provide liquidity to a decentralized exchange and getting rewarded for the service. It’s pretty simple to do. Liquidity providers (LP) simply deposit two types of token – such as ETH and KIRO – in amounts of equal value, and in return receive a proportion of the fees paid by users who use the related liquidity pool. An LP’s returns are calculated from the percentage of the pool that their deposit makes up.

Kirobo staking

Join Kirobo staking and you’ll be rewarded no matter the amount you put in.

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Why use our solution?

The staking protocol will let you lock your funds in a liquidity pool and you’ll get a staking rewards back in proportion to the size of your stake. You can claim the rewards and unstake whenever you want.

A big milestone

On September 1 we arrived at the one year mark of our staking program! We’re thrilled about our achievements in price stability and liquidity, and we couldn’t have done it without your support!

A new opportunity:

Our token has risen in value by 20,000% and our APY is very high. While some cases this can imply instability, KIRO has demonstrated consistent stability. Initial APY: up to 209% Staking period: no limitation Minimum amount: no minimum Pool cap: no limitation

Pool monthly reward: 500,000 KIRO

ETH/KIRO Uniswap V2 pool

Add your liquidity to KIRO/ETH pairs in the KIRO/ETH pool on the Uniswap V2 exchange and use your crypto to generate…more crypto! The KIRO ecosystem is compatible with Ethereum wallets that can hold ERC-20 tokens, but you need to add KIRO as a customized token via the contract address in order to interact with it. This will only work if your wallet has the ‘import token’ function. You can find the KIRO contract here: 0xb1191f691a355b43542bea9b8847bc73e7abb137 Be sure to check your wallet for the ‘import token’ function before sending KIRO to that wallet. Steps: In this tutorial, we will show you how to stake KIRO. You will need to hold ETH in order to do this.

Access the ETH/KIRO pair on Uniswap V2 and buy KIRO

To enter Uniswap V2 click here.

Adding liquidity to get your LP tokens starts here:

To enter pool click here.

Press add liquidity, enter an amount, and select ‘approve KIRO’.

4. Allow Uniswap to spend your KIRO. 5. Press ‘confirm supply’, then ‘supply’, then press ‘confirm’. 6. Select ‘close’, and then ‘supply’. After you ‘confirm supply’ close this window. 7. Go to the Kirobo staking platform to stake. You’ll need to connect your wallet with Kirobo in order to continue. Click here in order to start staking. 8. Make sure you read the staking conditions before selecting ‘KIRO/ETH’. 9. Enter the amount of LP tokens that you would like to deposit. 10. Select ‘approve staking’. 11. Select ‘confirm’ in your wallet interface. 12. Select ‘submit staking’ 13. Select ‘confirm’ on your wallet 14. Now you’re a KIRO staker. Congratulations!

Israeli, Canadian, and USA citizens cannot participate in the staking of KIRO If you’re already a staking participant, there’s no need to do anything — the staking will continue automatically.

Content retrieved from: https://www.kirobo.io/staking-your-crypto-should-be-working-for-you/.

הפוסט Staking – your crypto should be working for you הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

The power of DeFi: how decentralized solutions are changing the world of finance

gadudi — Mon, 06 Dec 2021 16:11:02 +0000

The word ‘DeFi’ — short for decentralized finance — has taken the cryptocurrency world by storm. Many experts consider it to be the next step in the evolution of blockchain technology, and DeFi-based projects are attracting investors. But what is DeFi really, and what makes it so groundbreaking?

What is DeFi?

The clue’s in the name: decentralized finance means taking time-proven financial mechanisms and decentralizing them through the power of blockchain technology and smart contracts.

The purpose of DeFi is to improve the efficiency and security of well-known financial concepts by removing the need to trust third parties and centralized intermediaries. Issuing stable currencies, lending money, or insuring assets — all of these things were traditionally done by centralized institutions such as banks or insurance companies, but with DeFi, they can be done automatically through a decentralized blockchain-based network powered by smart contracts.

The reason why DeFi has become so popular so quickly is the fact that decentralized solutions are not only safer and more efficient, but also more democratic. DeFi allows people to regain their financial independence and take full control over their own assets, without ever having to rely on centralized third parties like banks.

The history of DeFi

Some people say that the concept of decentralized finance is as old as cryptocurrency itself. After all, Bitcoin is undeniably a decentralized financial network. However, original blockchain projects such as BTC were relatively basic, with their sole function being to serve as digital currency.

The term DeFi was born in August 2018 with a group of developers building financial applications on the Ethereum network. It’s hard to say who specifically invented the word, as it was the result of a brainstorm between people including Brendan Forster of Dharma Labs, Blake Henderson of 0x (ZRX), and Inje Yeo of Set Protocol.

Some other names for DeFi were proposed — such as ‘Open Horizon’ and ‘Open Financial Protocols’ — but DeFi was immediately declared the best option as it was the most catchy , and it sounds like the word ‘defy’. The name apt, as DeFi solutions soon began to defy the traditional, centralized financial system.

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What are the use cases of DeFi?

DeFi has an almost limitless number of potential use cases. After all, everything that can be done manually by centralized institutions such as banks, investment funds and insurance companies can also be done through decentralized smart contracts.

One of the first DeFi projects on the market was MakerDAO, which used the concept of decentralized finance to issue a stablecoin called DAI. Stablecoins are cryptocurrencies pegged at a 1:1 ratio to a traditional asset, usually the US dollar. While most of the popular stablecoins like Tether (USDT) and Binance USD (BUSD) are centralized, MakerDAO uses the concept of DeFi to make a stable digital currency that is fully controlled by automated smart contracts.

Another popular use case of DeFi is ‘yield farming’, which was made popular by Yearn Finance (YFI). Yield farming is a fancy term that basically means lending your crypto assets to the network – users lock their funds in a smart contract called a ‘liquidity pool’ for a given amount of time, earning a passive income through interest.

Yearn Finance is also responsible for another influential DeFi solution called ‘yInsure’ which allows people to insure their digital assets in a decentralized and automated way. The original use of yInsure was insuring non-fungible tokens (NFTs), greatly contributing to the massive surge in the current popularity of these assets.

However, all these use cases of DeFi fade when compared to decentralized exchanges (DEXs). Decentralized exchanges have taken the cryptocurrency world by storm – the most popular DEX, Uniswap, has become a serious competitor to the industry leaders like Binance and Coinbase.

What is Uniswap?

Uniswap was launched in November 2018 and quickly became an extremely popular way to buy and sell cryptocurrency tokens – it enables people to trade Ethereum tokens (ERC-20) within a fully automated and decentralized system.

All aspects of trading on Uniswap are governed by smart contracts. Fees, transaction times, asset prices — all are established automatically by advanced algorithms.

Another important characteristic of Uniswap is that there is no central authority responsible for deciding which tokens are listed on the platform. Any developer can launch their own project on the exchange and sell tokens directly to investors, which is why Uniswap has become the chosen platform of DeFi enthusiasts.

Kirobo: the DeFi solution for making safe crypto transactions

One of the innovative DeFi solutions that has made Uniswap its home is Kirobo. Kirobo’s products are designed to solve one of the most serious problems troubling the blockchain ecosystem: the issue of risky transactions.

Research suggests that 57% of crypto users have either lost or almost lost funds because of malicious software or a simple mistake – transactions made on the blockchain are irreversible by their very nature, so a mistake when making a transaction means funds lost forever.

Kirobo solves this problem by adding extra layers of security to the process of sending crypto. For example, its undo button lets you reverse transactions and get your money back. Its logic layer, currently available on the Bitcoin and Ethereum blockchains, provides an extra confirmation stage protected by a randomized, multi-stage password, allowing users to cancel a deal if things aren’t right.

You can effortlessly buy KIRO on Uniswap by connecting your Ethereum wallet to Uniswap and paying for the purchase with ETH. After you buy KIRO, you can stake it or use it to make ultra-secure, reversible, and password-protected cryptocurrency transactions.

The article is not investment advice and must be used for informational purposes only. It is very important to do your own analysis. You can use KIRO for utility purposes only. Israeli, Canadian, and USA citizens cannot buy KIRO.

הפוסט The power of DeFi: how decentralized solutions are changing the world of finance הופיע לראשונה ב-Kirobo - The freedom to control your crypto.

Cardano and innovation —will they be able to make it?

gadudi — Mon, 06 Dec 2021 16:08:30 +0000

Cardano recently reached its all-time high with a price of $2.97 on August 23. This rapid surge placed it third on CoinMarketCap, surpassed only by Bitcoin and Ethereum. Why did Cardano grow so quickly? To explain this, it is necessary to know what’s special about this project and why it is so highly regarded. To start, it is important to point out that Cardano is the biggest proof-of-stake (PoS) blockchain at the moment. PoS is considered to be a more environmentally friendly alternative to proof-of-work (PoW), the consensus mechanism used by Bitcoin, Ethereum, and many popular blockchains. It achieves consensus by randomly selecting transaction validators according to the number of tokens they are staking. PoW, on the other hand, requires validators to run resource-intensive devices. In the current landscape, with a growing concern about climate change among the population, Bitcoin and Ethereum have been targeted as major pollutants and contributors to global warming. Thus, users and investors value Cardano’s eco-friendly approach. Cardano has entered the final, critical stage prior to the platform’s much-publicized Alonzo upgrade, according to blockchain research and engineering company Input Output Hong Kong (IOHK). IOHK has submitted an upgrade proposal to the Cardano testnet to “hardfork the chain into the Alonzo era,” according to a Twitter post from the company.

This announcement, made by the team on August 13, states that they will implement the Alonzo upgrade in September. This upgrade will introduce smart contract features which will allow decentralized finance (DeFi) protocols to run on the Cardano blockchain. Although Ethereum is still the most popular platform for DeFi and dapps, throughput limitations hinder its performance. The Binance Smart Chain (BSC), which also boasts a large dapp ecosystem and is designed to overcome these issues, had also achieved third position on CoinMarketCap prior to Cardano taking the spot. Cardano overtook BSC on the strength of the aforementioned announcement. The blockchain could look better for investors because it’s more decentralized, a fact that could drive the flip.

Cardano roadmap – the Alfonzo upgrade

Cardano said that Alfonzo will be deployed on its testnet on September 12, only a couple of weeks from now. Once this happens, developers will be able to create smart contracts and dapps on the blockchain. This upgrade marks the end of the Shelley era (a period of growth and development for the network) and the beginning of the Goguen era with the integration of smart contracts. The Goguen era represents a big step forwards in capability for the Cardano network, and it’s the third era in a five-stage development roadmap. Along with support for smart contracts, Alfonzo also introduces the Plutus Platform, a building environment where any users can create dapps. Plutus works with Haskell, the same programming language as the Cardano mainnet, so there will be no issues implementing the code. The integration will take place using Plutus Core, a programming language that compiles the smart contract and makes it easier for the Cardano blockchain to interpret it. A domain-specific language called Marlowe will also be introduced to allow any user to test their codes, even if they’re not very programming-savvy. Last, the Cardano development team will also introduce an ERC-20 converter, so tokens created on Ethereum using this standard can be converted and transferred to the Cardano blockchain.

What does it mean for users?

Implementing smart contracts, as we previously said, will allow decentralized applications to run on Cardano, which is planned to have a higher throughput than Ethereum. Cardano intends for its testnet and mainnet to process hundreds of transactions per second (TPS), while Ethereum can only process around 14 TPS. This will mean that, once dapps are built and running, the fees won’t be as high as they are on Ethereum. The network will be more effective for users. If the upcoming ERC-20 compatibility causes a migration of popular projects from Ethereum to Cardano (as happened with BSC and Solana), users will rush to the new blockchain. There are already many projects announcing future developments on the network, and they’ve gathered a lot of hype. Whenever there is enormous excitement around a new technology, both legitimate projects and scams appear. For example, a Reddit user recently raised suspicions around ADAX.PRO, a recent, much-hyped project. Whether or not the claims are true remains to be confirmed, but all users must research well in order to minimize risks to their investments.

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Kirobo considers adding ADA to the platform

We cannot be sure what the outcome of the Alfonzo upgrade will be, but the sentiment throughout the ecosystem is really positive, which has shown in Cardano’s market performance. Kirobo is always looking to integrate the best and most used assets to its platforms so as to offer the best possible service to all its users. We support a variety of popular cryptocurrencies and tokens – like ETH, BNB, SUSHI, and INCH – and ADA, the Cardano token, may soon join the family. With Kirobo, you can make secure, error-proof transactions by setting a password that the recipient must input in order to withdraw the sent funds. This way, if you discover that you’ve entered the wrong address, you can still recover the tokens and send them again. This feature is also available for the P2P Swap Button, a service allowing two users to swap between any supported tokens. The trade has no extra fee, apart from the gas in Ethereum, and users can choose their own rates. These two aspects together make the Kirobo P2P Swap Button more profitable than other trading alternatives, such as Uniswap and 1INCH.

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הפוסט Cardano and innovation —will they be able to make it? הופיע לראשונה ב-Kirobo - The freedom to control your crypto.