If you have enough experience in the DeFi world, you know about its pros and cons. On the one hand, the system has enormous growth potential; on the other, the sector has some limits.
While developers worldwide do their best to reach mass adoption, DeFi frequently sees new projects appearing. This short review will analyze Kyrios Finance, mentioning its goal and main features.
About Kyrios Finance
The project’s developers label Kyrios Finance as “more than a farm or a project”. Technically speaking, Kyrios Finance is a yield farming protocol aiming to enter the DeFi world and achieve longevity.
Kyrios Finance relies on the Fantom network, a popular choice for dApps developers in the DeFi industry. The following subsections will provide more details on this new initiative.
A few words about Fantom (FTM)
Fantom is a blockchain that gives users a fast throughput by combining several features. The main idea behind the system is to make the usage of smart contracts in dApps easier.
One of the most popular features of Fantom is the Asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism. Avoiding all sort of technicalities, we can say that aBFT removes the concept of leadership in the Proof of Stake protocol.
As a result of the mechanism we have just mentioned, Fantom can achieve:
A quick introduction to yield farming
Now that you have a general idea of how Fantom works, you are ready to learn about yield farming.
Yield farming consists of staking or lending crypto assets to earn a passive income as cryptocurrencies. In general terms, you can stake liquidity and receive the native token of the project.
Anyone who joins a yield farming system aims, typically, to obtain an annual percentage yield (APY). The crypto market, being highly volatile, attracted different groups of traders when yield farming made its first appearance.
The idea of potentially earning a passive income even in the crypto market is, evidently, an appealing one. In this context, it is not surprising that new crypto projects are trying to leverage this mechanism.
$KYRIOS – Tokenomics
After learning about the main pillars of Kyrios Finance, we can find out more about its token.
The coin ($KYRIOS) went live on February 19th, and it has recently started the listing process on several platforms. SolidProof released an audit certification on the project. The readers can learn more about it on the official GitHub page.
The team claims that the project’s tokenomics aims to bring sustainability into the system. For starters, each deposit operation will trigger a 3% fee. Kyrios Finance founders promise that the fee will go toward buybacks and marketing campaigns, among other operations.
A portion (10%) of all the emissions will go to the developers for the following purposes:
- To build loyalty in the community, the team will launch a series of giveaways and airdrops.
- Burning operations, a typical deflationary-style process in the crypto world, will also be part of the plan.
- Furthermore, the team promises “multiple dynamics”, which we will find out in the future.
The initial coin minting operation created 800 tokens at an initial supply of 701 samples. The initial limit to the liquidity was $3,000, at a price-per-token of $4.
Kyrios Finance website provides an updated set of statistics on the token.
Kyrios Finance ecosystem
The initiative’s website provides several hints about the project’s future ecosystem. Specifically, we find four main sections:
- Farms: this section represents, probably, the core of Kyrios Finance. Yield farming is a widespread mechanism among passive income enthusiasts in the crypto universe.
- Pools: Kyrios Finance allows staking operations as well, with several coins offered as a reward.
- Dividends: this section, currently under development, allows potential earnings in USDC FTM and other tokens.
- Chart: finally, this area facilitates the visualization of $KYRIOS price over time.
What is next for Kyrios Finance?
The team divided the roadmap of the project into the three following stages:
The first phase – Pre-launching
At this stage, the project saw the completion of its preliminary step. We can mention the release of the first documentation and social media pages creation, among other milestones.
Furthermore, the team launched the initial marketing campaigns for the project.
The second phase – Launch
The team is adopting a “stealth launching” approach for Kyrios Finance. The second phase of the project will culminate in creating the farming system.
The third phase – Keeping on with the project
The team expects to launch several internal contests on the platform by this time. The tools developing phase will begin, and social media promotion should boost the project.
Each new DeFi project proposes a new approach to improve the adoption of blockchain technology in the financial world. Today we mentioned the main features of Kyrios Finance, a new yield farming protocol with ambitious goals.
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