KILT Tokenomic Update

For the upcoming #crowdloan and mainnet launch, @Kiltprotocol has updated their token economy which aims to incentivise functionalities in the network & avoid the pitfalls of high inflation.

The $KILT Coin is needed to perform credential verification transactions on KILT’s blockchain and also powers governance.

KILT’s #parachain will launch with significant activated functionality — staking for collators and delegators https://twitter.com/PolkaWarriors_/status/1413076751480070145?s=20

KILT Treasury will be rewarded with 10 million $KILT Coins & governance may decide to exchange these coins for $DOT to bid for a parachain slot.

In this situation, the existing $KILT Coins would be transferred without changing the balances, owners, metrics and economics.

For this update, Kilt Protocol declared they would reserve 4.5M KILT Coins for people supporting their auction bid. https://twitter.com/PolkaWarriors_/status/1423862563725451272?s=20

For more details, check: https://medium.com/kilt-protocol/kilt-token-economy-an-update-db207611f5ce

Wanna find out more info about KILT Protocol - A Legitimate Project on Polkadot? It is a blockchain protocol for issuing self-sovereign, anonymous, verifiable credentials. https://twitter.com/DotMarketCap_/status/1401071912491515906?s=20