Kyrios Finance Review: Features, Roadmap, and Tokenomics
There are fewer things more talked about in the crypto space than decentralized finance (DeFi). Decentralized finance uses secure blockchains to enable two or more parties to carry out financial transactions without traditional intermediaries such as banks. This concept has been touted as the future of both the financial system and blockchain technology.
2020 and 2021 were particularly good years for DeFi, with billions of dollars’ worth of digital assets locked up on a myriad of platforms. And the trend seems to be continuing into 2022, with new projects springing up with each new day to leverage DeFi’s capabilities.
One such project is Kyrios Finance, a multi-chain farming protocol founded by four crypto enthusiasts that promise to make profits for its investors and stay the course. In this short review, we will delve deeper into Kyrios Finance’s tokenomics, roadmap, and the features that make it stand out in a sea of DeFi projects.
What is Kyrios Finance?
Kyrios Finance is a project that was founded a couple of years ago by a small group of crypto investors who, in their own words, wanted to build something that they could “buy, support, and hype.” The idea was borne out of a need to buck the trend of failed DeFi projects that have littered the crypto landscape in the last few years.
Of the four-person team behind the project, two will completely dedicate their time and attention to the Kyrios community. In contrast, the others will build and develop the project’s yield farming experience.
The Kyrios Finance project is built on the Fantom network, which is a high-performance, scalable, and extremely secure platform. Fantom was designed to overcome the limitations caused by the trade-offs between decentralization, security, and scalability that have crippled earlier generations of blockchains such as Ethereum.
Features of Kyrios Finance
Kyrios Finance comes with a few features that should ensure it not only becomes profitable but also stands the test of time, unlike many DeFi projects that have fallen by the wayside.
Here are some of those features:
Emission refers to the speed with which a project releases new crypto tokens. The emission rate of a token is key to the profitability and success of a crypto project because it usually defines how fast rewards are minted in the farming process. Emission rates can also affect the price of a token by creating buy or sell pressures.
In the case of Kyrios Finance, 0.001 tokens per block will be minted per second. And to create buying pressure and help the project liftoff, the Kyrios team decided to split emission into two proportions: 54% will be allocated to natives, and the remaining 44% will go to non-natives. 10% of total emission will also go into the dev wallet to be used for burns, airdrops, and giveaways. And depending on how well the Kyrios Finance yield farm performs, the team has the discretion to either boost or nerf emission, but only after making their decision known to the Kyrios community.
Yield farming, which is at the heart of Kyrios Finance, is the process whereby members of a community lend or stake their digital assets to generate returns or rewards, usually in the form of additional crypto. Investors provide liquidity to a project in the form of major cryptocurrencies and, in return, receive the project’s native token.
The Kyrios Finance yield farming protocol will use interest earned from lenders as an incentive for liquidity providers to stake their tokens in the platform’s liquidity pool. Potential yield farmers will be expected to stake governance tokens and stablecoins such as Tether (USDT), USD Coin (USDC), and Dai.
Returns gained from farming will be calculated as an annual percentage yield (APY), the actual rate of earning on a stake, with compound interest considered.
Some projects do not incorporate compounding and instead calculate returns as simple annual percentage rates (APR). Expressing returns as APY means that yield farmers in the Kyrios ecosystem are assured of much higher profits at the end of each yield farming cycle.
Kyrios Finance is developing its auto-compounding vaults to make its yield farming even more profitable. However, the team has yet to decide how the system will be deployed.
Auto-compounding vaults are a strategy for automating the yield farming process using complex smart contracts. They allow yield farmers to earn a high rate of compound interest on their investment without worrying about daily harvesting. The vaults will deposit an investor’s crypto assets, harvest their rewards, trade a percentage of the reward, and add the remainder back into the liquidity pool after a set time interval.
However, the potential advantages of the Kyrios Finance auto-compounding vaults will become much clearer once the team decides on key aspects of the strategy, such as emission rate, token allocation, multiplier, and time running.
Partnerships and Collaborations
Kyrios Finance intends to form and take advantage of a number of partnerships and collaborations to grow its community and its reach. Partnerships are expected to be more involved and long-term, while collaborations will be largely one-off associations. But regardless of their status, the Kyrios Finance team will endeavor to carry out exhaustive background checks on all their partners and collaborators to ensure they only associate with entities of the highest integrity.
Smart Contract Audit
With security being an important issue in the crypto space, the team opted for a proper audit to be done on the Kyrios smart contracts. The audit process was carried out by the German-based blockchain auditing firm, SolidProof. No security issues of any significance were found in the smart contract audit.
The Kyrios token has a total supply of 80,000 units. An initial supply of 800 tokens was made available at the Kyrios Finance Fair Launch, which took place on February 19th, 2022.
10% of emission goes back into the dev wallet to be used for burning, early airdrops, giveaways, rewards, and multiple dynamics. When buying or selling Kyrios tokens, no transfer tax is charged.
The Kyrios Finance roadmap is divided into three phases: the pre-launch, the launch, and keeping on with the project.
The pre-launch phase of the roadmap started with the creation of the project. It was followed by the setting up social media accounts, the start of the initial promotion, the release of relevant documents to the public, and a search for collaborators.
The second phase of the roadmap, which the project is currently in the middle of, was initiated with widespread social media promotion. This was followed by a stealth launch on the Fantom network, uploading the project website, and the official start of yield farming on the platform.
The final phase of the Kyrios roadmap will look to achieve such milestones as new collaborations, further social media promotions, and TVL celebrations. Furthermore, the team will also search for new partnerships, launch contests, and develop new tools to improve the Kyrios platform.
Although it has barely been in the market, Kyrios Finance aims to develop quickly and effectively. The platform aims to stand out from the DeFi crowd by maximizing profit-making opportunities through extensive yield farming.
So far, the project is headed in the right direction. However, we can only wait and see how well it achieves the various milestones set out in its roadmap. We also await to see if it will truly withstand the test of time, as so many DeFi projects before it have failed miserably.
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