Looking Back and Looking Forward, KIRA, KEX and Everything In Between

Milana Valmont
Nov 30, 2020 · 4 min read
Image for post
Image for post

We would like to start this summary by thanking the KIRA community for supporting us throughout our journey thus far. Since the inception of the project almost two years ago and the development of the concept into a reality, to a sometimes long and arduous fundraising and marketing round that included 12 institutional funds, over 100 seed and private investors along with over 60 AMA’s!!!, we’re still more excited than ever for what’s to come in Q4 2020, Q1 2021 and beyond.

Again, we’re incredibly thankful for those who have joined us along the way, we really couldn’t have done it without you!

The most recent part of this journey started at 3 PM UTC on November 25, 2020, with the Kira Liquidity Auction Event. The primary goal of the KIRA Liquidity Auction Event was a fair price discovery method for the KEX token. The auction participants had a chance to select the price they felt was fair by contributing at constantly decreasing valuation, starting from ~$3.00 per KEX, which then rapidly declined within the 1st hour down to ~$1.00 per KEX. For the remaining hours the price declined at a slower pace, after the constantly declining hard-cap had been reached.

The Kira Liquidity Auction successfully completed at 7am on the 26th of November, ~16 hours after launch and ~6 hours before the projected auction ended. In total, 2,597.18 ETH was contributed to the auction contract and 4M KEX was purchased by Liquidity Auction participants. The final ratio at which tokens were purchased was ~0.000649 ETH per 1 KEX or correspondingly ~1540.132 KEX per 1 ETH. The Liquidity Auction was attended by a total of 399 unique participants out of 1299 who applied for the whitelist.

KIRA Liquidity Auction TLDR -

  • Closed after 16 hours
  • 399 participants, 1299 whitelisted
  • Raised 2,597.18 ETH
  • Price discovered per 1 KEX ~0.000649 ETH

At 3 PM UTC on the 27th of November 2020 trading of the KEX Token was enabled on the Uniswap. The initial listing price of the token was as per the final price of the Liquidity Auction, ~0.000649 ETH per 1 KEX or correspondingly ~1540.132 KEX per 1 ETH.

Before the Uniswap market opened, $200k USD of liquidity in ETH and KEX tokens were supplied as initial liquidity. Liquidity was locked for the period of six months using Unicrypt Locker to signal KIRA’s long term market support on Uniswap. 24 hours after launch, a further $200k USD of liquidity was supplied to the KEX/ETH liquidity pool, also locked using Uniswap Locker, resulting in a total of 400 ETH and corresponding amount of KEX locked into Uniswap liquidity.

Unlike many other projects that launch on Uniswap and are unofficially listed on other exchanges, KEX tokens are locked via a whitelisting mechanism so seed, private sale and Liquidity Auction participants can only trade on Uniswap and the KEX token cannot be unofficially listed. This lock will remain in place until the KEX tokens primary listing event, which will take place on a centralised exchange in the near future. We look forward to updating our community as to who this primary listing partner is at the appropriate time.

Shortly after the KEX token was listed on Uniswap, KEX was also added to both CoinMarketCap and Coingecko. We have also applied and are in the process of listing on both Delta and Blockfolio.

Trading interface: uni.kira.network

Par information: info-uni.kira.network

UNISWAP TLDR -

  • Initial listing price ~0.000649 ETH per 1 KEX
  • Initial liquidity 200 ETH, additional 200 ETH was added 24 hours later
  • Tokens are not transferable until primary listing partner to prevent unofficial listings
  • CoinMarketCap and Coingecko listing

As we move past the initial listing of the KEX token we have many exciting events and announcements before the end of Q4. In the coming days and weeks we’ll be announcing our primary listing partner for the KEX token, along with our liquidity incentivisation program for Uniswap, which will feature a favourable APY for KEX holders who contribute liquidity to the KEX/ETH Uniswap liquidity pool.

We’ll also be preparing for the KIRA testnet launch by onboarding Validators and Bounty/Tester for the first release of the testnet. Remember if you’d like to run a Validator on the Kira mainnet, you MUST participate in the testnet! In the coming days a demo of the testnet release will be made available and allow anyone to launch his own test network using provided launcher scripts.

If you’d like to participle in the Kira testnet, you can join our private testers group on Telegram.

NEXT STEPS TLDR -

  • Liquidity Reward Program on Uniswap
  • Primary Partner Listing
  • Testnet
  • Onboarding Validators

Website: https://kira.network/

Telegram Channel: https://tg.kira.network

Announcements: https://ann.kira.network

Twitter: https://twitter.kira.network

GitHub: https://github.kira.network

Blog: https://blog.kira.network

KIRA Network

Powering DeFi with Liquid Staking

Milana Valmont

Written by

Co-Founder & CEO of Kira Core

KIRA Network

Maintain 100% liquidity of your capital, trade and use DeFi while simultaneously earning block and fee rewards by staking ANY digital asset

Milana Valmont

Written by

Co-Founder & CEO of Kira Core

KIRA Network

Maintain 100% liquidity of your capital, trade and use DeFi while simultaneously earning block and fee rewards by staking ANY digital asset

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store