DeFi is short for “decentralized finance,” a new born term for a variety of financial applications in cryptocurrency or blockchain backed assets management protocols. A lot of new DeFi concepts have sprung up such as Yield farming, Liquidity mining, Composability and Lending & Borrowing platforms. People can easily deposit their digital assets to Defi products and larger their returns with a relative high APY rate. Everything is controlled by smart contracts and most of them are open source and transparent.
However, most people has more than digital assets and not all of crypto currencies have their defi applications. Kira Network was developed to solve these hard problems. Developed as the first decentralized network that enables market access to any digital asset in the interchain ecosystem, Kira Network becomes the real champion powering DeFi with liquid staking.
In the Kira Network, Users can earn block and fee rewards from staking any digital asset on multiple chains at the same time. Everyone will be able to maintain full liquidity and custody over all your funds as you trade on KIRA or use other DeFi apps simultaneously.
KIRA is secured by the Multi-Bonded Proof of Stake consensus, enabling users to earn revenue from staking any digital asset type such as cryptocurrencies, digital fiat, and even NFT’s. The security of the network increases with every new token trustlessly deposited and staked.
KIRA introduces a novel approach of using all the value at stake to further power DeFi applications deployed on top. The consensus natively supports 1:1 staking derivatives that are transferable, tradable and stakeable on leverage on multiple different chains at the same time.
Kira Network will be launching soon. Let's keep our eyes open and see how Kira will bring Defi to a new era!