$ 0.05010
1 min ago
(1.36%)
KIRA Token (KEX) is a native staking asset of the KIRA Network. KEX acts as a reserve currency in terms of which staking all other foreign tokens is valued. KEX is required to be held by governance members and validators to participate in the consensus. This ensures alignment of network operators with the interest of the network. Other utilities of the KEX token include the most efficient means of network fee payments, which are necessary as a transaction spam prevention mechanism.
KIRA governance is tasked with controlling the inflation rate of the KEX token within certain safety ranges and defining interest rates for staking all tokens in the network. For that reason staking KEX can maintain its utility and remain the most efficient way of accessing incentives from the block and fee rewards. Governance of the network has full ability to control the economy and can define any other suitable model for ensuring long term operations of the network. This implies that KEX can be both inflationary and disinflationary asset depending on the market conditions and governance decisions to ensure stability and competitiveness of the KIRA Network economy.
KEX Token is used to induce the flow of value away from the passive actors (non-delegators) and users who pay network fees - to delegators and validators (active actors) who ensure maintenance, security, and availability of the KIRA Network. KEX is a novel financial mechanism utilized by the governance system to maintain operation of the network rather than a typical growth currency like in case of other PoS implementations. KIRA Network uses utilitarian principles of operations rather than plutocratic, meaning that hoarding, stealing or otherwise taking control over large amounts of KEX or any other staking token can’t influence security and operations of the network.
Try our free Kira Network (KEX) portfolio tracker if you want to efficiently keep track of your KEX and other coin/token investments.