Kalima Blockchain is a third-generation layer 1 blockchain specifically for businesses and the Internet of Things (IoT). It is a growing ecosystem that enables companies, developers and startups to build the future of Web3.0 applications, enterprise and data management, especially with IoT data, to solve real-world problems.
What is the KLX?
The KLX is the native utility token of the Kalima network. The role of the KLX token is to maintain, secure and operate the Kalima network. It can be used to hold, ship, spend, release, build dApps on the Blockchain, pay transaction fees, and acquire nodes. KLX users who choose to stake secure the entire network and earn rewards based on the amount of KLX wagered.
Kalima’s tokenomy follows a pattern where issuance is limited to a maximum of 480,000,000,000 KLX. This maximum amount of KLX will never be changed by the DAO.
In addition, a “halving” mechanism allows KLX emissions to be reduced with a reduction of two in the validation reward for each new spend of 16,000,000,000 KLX. The Kalima Foundation will also be able to “burn” the KLXs to complete this mechanism. The issuance of KLX over time will therefore be less to control inflation to avoid dilution of KLX strikers.
The KLX initial issuance curve below shows an estimate of token release amounts (in yellow) corresponding to foundation tokens, staked tokens, and circulating tokens. The circulating KLXs, in gray, correspond to the liquid KLXs available on the market. These curves are based on a strike assumption of 80% of all released KLX and highlight the effectiveness of the mechanisms put in place.
The initial breakdown of the KLX is as follows:
- 3.125% allocated to initial seed sales;
- 15.625% allocated to private sale;
- 41.25% allocated to the reserve.
The tokens allocated to the reserve are considered non-circulating at the start of the project and are managed by the DAO to ensure that:
- Compliance with European regulations on cryptocurrencies in terms of liquidity;
- Exceptional costs.
The foundation undertakes not to use more than 4,000,000,000 KLX per year, smoothed over one year, corresponding to 0.8% of the total supply on the reserve.
After a series of successful private sales, with €5 million of KLX sold, the KLX is listed on the CEX BitMart Exchange as an ERC20 token on the Polygon network.
When the Kalima MainChain is launched in 2024, the KLX will transition from an ERC20 token to a native KLX token, hosted on the Kalima network. Any ERC20 token holder can convert their ERC20 token into native KLX token.
How does Calima work?
The Kalima Network
The Kalima Network is a decentralized network with community governance. The Kalima network consists of validating pools, validating nodes and is based on the Kalima Blockchain technology. Kalima Blockchain is composed of permissioned blockchains called “PrivaChains” and a public blockchain called “Kalima MainChain”. It is an active network based on the Kalima protocol, incorporating the fundamental pillars of modularity, security and scalability.
What Makes Kalima Blockchain Unique
Kalima Blockchain is a blockchain network with the ability to host decentralized applications.
The Kalima network is designed to manage very large amounts of sensitive data generated by industries and run smart contracts capable of processing this data at the edge in time. PrivaChains can connect with each other, but also with other public blockchains (Tezos, Lightning Network and soon Polygon and Cosmos hubs). The Kalima network also serves as a layer 2 or 3 for Bitcoin and can be used for hybrid applications between Kalima’s permitted PrivaChains and public Blockchains.
Anyone who needs a network that connects people, objects and services can use the Kalima network. Anyone who needs a network to connect people, objects and services can use the Kalima Network. Objects can be devices such as Android and iOS devices, supercomputers, IoT gateways, LoRaWAN gateways, industrial networks, etc. People can be connected through mobile phones, tablets, smartwatches, web interfaces and more. Services can be AI processes, Deep Learning, Big Data, reporting tools. The central idea of the Kalima network is to be a plug-and-play platform for anyone who wants to create or use decentralized business applications (dApps).
How do you use the KLX?
The KLX can be used in various ways in the Kalima network, you can start a validation node to contribute to the security of the entire network, deploy your KLX to contribute to the consensus mechanism or create dApps on the network.
Kalima uses a delegated proof-of-stake (DPoS) consensus mechanism to secure the network. Kalima’s core consensus is a proof of authority derived from Raft. This combination of two consensus leads to the need to have two types of validation nodes: validation nodes and master nodes.
Master Nodes are validation nodes that store the entire ledger set.
These validation nodes monitor the integrity of transactions and the immutability of blockchain data. These nodes are grouped into commit pools:
To open a validation pool it is necessary to stake 120,000,000 KLX.
For the Validation Nodes and Master Nodes to work, the Pool must have a number of KLX stakes either by itself or by Kalima Network stakes.
- 40,000,000 KLX per main node;
- 4,000,000 KLX per validation node.
For validating and securing the network, validation pools are rewarded as follows:
- 1 KLX is broadcast per block for each validation by a Master Node;
- 0.1 KLX is broadcast per block for each validation by Validation Node.
These validation rewards will decrease over time with the halving. Block rewards are shared equally between Validation Nodes and Master Nodes, in each chain of the Kalima MainChain and in each PrivaChain, all validation pools maintain the same weight over time. (Learn more about validation pools.)
If you don’t want to be a validator or don’t have the resources required, you can delegate your KLXs to a validation pool. This delegation process is called staking in the Kalima network. Validation pools share their earned rewards among their strikers, encouraging KLX holders to continue to participate in the operation of the consensus mechanism.
Staking is the process of locking KLX tokens on the blockchain to secure the entire Kalima network. Parties will earn rewards for this. KLX tokens can themselves be delegated directly by a validator or validation pool, or delegated by a holder to a validation pool.
When a KLX holder decides to delegate their KLXs, they are randomly distributed among the different Validition Nodes and Master Nodes. In other words, delegators will not choose which validation pools to delegate their KLX to. Kalima’s protocol will randomly assign each deployed KLX. This mechanism helps decentralize the network and prevents validation pools from having too much power over staking and centralized control in the network.
Turn off pre-bridge:
KLX holders can stake their tokens before “bridging” the KLX token from the ERC20 standard to the native KLX standard on the Kalima MainChain. The bridge is scheduled for Q1 2024.
Staking ERC20 Tokens will help build and secure the Kalima Blockchain Network, creating a robust staking pool ahead of the launch of the Kalima MainChain.
Between February 2, 2023 and the bridging date scheduled for Q1 2024, KLX holders can stake their tokens in the “Pre-Bridge staking” program.
The longer the tokens are staked, the higher the reward will be with a maximum return of 10% for a maximum stake period, i.e. from February 2 to the day of the Bridge launch.
The rewards will be distributed monthly for 12 months from the bridge, i.e. the launch of the MainChain Kalima and the switch from KLX ERC20 to native KLX.
Any token not spawned before the bridge earns no reward.
Building on Kalima
Kalima provides an interoperable, scalable, secure and decentralized network that eliminates high transaction costs to enable the creation of new enterprise IoT use cases. The KLX is the fuel for the Kalima ecosystem, powering the Kalima network.
Transaction costs for Kalima amount to € 0.00025 per kb and are paid in KLX.
To create a PrivaChain, validation nodes must be created and an amount in KLX must be wagered per node:
- 8,000,000 KLX per main node;
- 2,000,000 KLX per validation node.
Owning KLX is all it takes to build on the Kalima network, create decentralized applications, manage smart contracts and acquire nodes for PrivaChain owners.
How to buy KLX?
Kalima is listed on the BitMart exchange, the first CEX to list the KLX.
1. Create an account on BitMart
Your BitMart account acts as a gateway to purchase cryptos. But before you can buy KLX, you need to open an account and verify your identity.
2. Buy USDT or load your wallet with USDT on BitMart
KLX comes paired with USDT, you need USDT to buy KLX. For this you have two options, buy USDT on BitMart or load your BitMart wallet with USDT
3. Buy KLX on BitMart
You can now buy KLX on BitMart, store it in your personal crypto wallet, or just keep it in your BitMart account.
Warning: This article contains promotional content and does not constitute investment advice. Do your own research and only invest the money you can spare.