Kalima Blockchain is a third generation layer 1 blockchain dedicated to enterprises and IoT (Internet of Things). It is a growing ecosystem that enables companies, developers and startups to build the future of Web 3.0 applications, enterprise and data governance, especially with IoT data, to solve practical problems.
What is KLX?
The KLX is the native utility token of the Kalima network. The role of the KLX token is to maintain, secure and manage the Kalima network. It can be used to hold, send, spend, stake, 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 staked.
tokenomy
The Kalima tokenomy follows a limited issuance scheme of up to 480,000,000,000 KLX. This maximum amount of KLX will never be changed by the DAO.
In addition, a “halving” mechanism makes it possible to reduce KLX emissions with, for each new issue of 16,000,000,000 KLX, a reduction of two in the validation premium. The Kalima Foundation will also be able to “burn” the KLXs to complete this mechanism. KLX issuance over time will therefore be smaller to control inflation to avoid dilution of KLX stakers.
The KLX initial issuance curve below shows an estimated token release amounts (in yellow) corresponding to foundation tokens, staked tokens, and circulating tokens. The circulating KLX, in gray, correspond to the liquid KLX available on the market. These curves are based on a hypothesis of staking of 80% of all KLX released and highlight the effectiveness of the mechanisms put in place.
The initial distribution of the KLX is as follows:
- 3.125% allotted to initial seed sale;
- 15.625% intended for private sale;
- 41.25% allocated to reserves.
Tokens assigned to the reserve are considered non-circulating at the start of the project and are managed by the DAO to ensure:
- Compliance with European cryptocurrency regulations in terms of liquidity;
- Exceptional expenses.
The foundation pledges not to use more than 4,000,000,000 KLX annually, capped over a year, corresponding to 0.8% of the total supply on the reserve.
The KLX Roadmap
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 Kalima MainChain launches in 2024, KLX will transition from an ERC20 token to a native KLX token hosted on the Kalima network. Every ERC20 token holder will be able to 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 validation pools, validation nodes and is based on the Kalima Blockchain technology. Kalima Blockchain consists 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 handle large amounts of sensitive data generated by industries and to run smart contracts that can process this data in time at the edge. PrivaChains are able to connect to each other, as well as to other public blockchains (Tezos, Lightning Network and soon Polygon and Cosmos hubs). Also acting as a layer 2 or 3 for Bitcoin, the Kalima network can be used for hybrid applications between Kalima’s licensed PrivaChains and public Blockchains.
Anyone who needs a network that interconnects people, objects and services can use the Kalima network. Anyone who needs a network to interconnect people, objects and services can use Kalima Network. Objects can be devices such as Android and iOS devices, supercomputers, IoT gateways, LoRaWAN gateways, industrial networks, etc. People can be connected using phones, tablets, smart watches, 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 build or use enterprise decentralized applications (dApps).
How to use the KLX?
The KLX can be used in different ways in the Kalima network, you can launch a validator node to contribute to the security of the whole network, point your KLX to contribute to the consensus mechanism or create dApps on the network.
Network security
Kalima uses a proof-of-stake (DPoS) delegated consent mechanism to secure the network. Kalima’s main 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 set of ledgers.
These validator nodes check the integrity of the transactions and the immutability of the blockchain data. These nodes are grouped into commit pools:
Validation pool
To open a validation pool you need to stake 120,000,000 KLX.
For Validation Nodes and Master Nodes to work, the Pool must have an amount of KLX staked, either by itself or by Kalima Network’s stakers.
- 40,000,000 KLX per parent node;
- 4,000,000 KLX per validating node.
For network validation and protection, validation pools are rewarded as follows:
- 1 KLX is issued per block for each validation performed by a Master Node;
- 0.1 KLX is issued per block for each validation performed by the Validation Node.
These validation rewards will decrease over time with the halving. Block rewards are distributed equally between Validation Nodes and Master Nodes, in each chain of the Kalima MainChain and in each PrivaChain, all validation pools keep the same weight over time. (Learn more about validation pools.)
Stake out
If you don’t want to be a validator or don’t have the necessary resources, you can delegate your KLXs to a validation pool. This delegation process is called staking out in the Kalima network. Validation pools share the rewards they earn among their stakers, which encourages KLX holders to continue participating in the workings of the consensus mechanism.
Staking is the process of locking KLX tokens onto the blockchain to secure the entire Kalima network. For doing this, parties will earn rewards. KLX tokens can be self-delegated directly by a validator or validation pool, or be delegated by a holder to a validation pool.
When a KLX holder decides to delegate their KLX, they will be randomly distributed among the different Validation Nodes and Master Nodes. In other words, Delegators will not themselves choose which validation pools they wish to delegate their KLX to. Kalima’s protocol will randomly award each KLX staked. This mechanism will help decentralize the network and prevent validation pools from having too much power over staking and centralized control of the network.
Pre-Bridge Stakeout:
KLX holders will be able to stake their tokens before “linking” the KLX token from the ERC20 standard to the native KLX standard on the Kalima MainChain. The bridge is scheduled for the first quarter of 2024.
Staking ERC20 tokens will help build and secure the Kalima Blockchain network, creating a robust staking pool ahead of the Kalima MainChain launch.
Between February 2, 2023 and the bridge date scheduled for Q1 2024, KLX holders will be able to 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 staking period, i.e. from February 2nd to the day of the launch of the Bridge.
The prizes will be distributed monthly for 12 months from the bridge, i.e. from the launch of the MainChain Kalima and from the exchange of KLX ERC20 to native KLX.
Any token not staked before the bridge will result in 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, enabling the power supply of the Kalima grid.
Transaction fees for Kalima are €0.00025 per Kb and are paid in KLX.
To create a PrivaChain, it is necessary to create validation nodes and for this an amount in KLX must be staked per node:
- 8,000,000 KLX per Master Node;
- 2,000,000 KLX per validating node.
Owning KLX is the only thing needed to build on the Kalima network, build 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 buy cryptocurrencies. But before you can buy KLX, you’ll need to open an account and verify your identity.
2. Buy USDT or load your wallet with USDT on BitMart
KLX will be paired with USDT, you will need to get 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 simply store it in your BitMart account.
Warning: This article is promotional content and does not constitute investment advice. Do your research and only invest money you can afford to lose.