White PaperIntroductionBy 2022, each cryptocurrency will require extremely high transaction fees, and some of them will take more time to process, even with newer public blockchains, the problem will become more serious if the number of users increases. In the long run, it will lead to the following consequences:
- There are many projects using public blockchains, and many investors pay more transaction fees in order to reduce the deployment time of NFTs. So, only the rich can use blockchain technology.
- Cryptocurrencies are only suitable for investment, games or some high price volatile area, it cannot be used in daily life.
SolutionIn order to solve the above problems, this project will use two different token:
- KNV token, which is minted using a private blockchain, can increase transaction
speed and no transaction fees. Users only need to add a new network to the
cryptocurrency wallet. - KNVG (tentative name) token, this token is a governance token, which will be used
to create a DAO in the future.
Project detailsThis project is still in the primary stage and hopes to increase public understanding of cryptocurrencies, and use time to find consensus prices in exchange for real-life goods or services. Users can press the (GET MORE) button in the DApp to increase KNV tokens every 24 hours, and transfer a part of balance to the wallet every month. The details are as follows:
- The total supply of KNV tokens is 100,000,000
- 3% KNV tokens will transfer to the wallet every month
- When the number of users is less than 100,000, 1KNV tokens can be obtained every 24 hours
- When the number of users reaches 100,000 and less than 1,000,000, 0.4KNV tokens can be obtained every 24 hours
- When the number of users reaches 1,000,000 and less than 10,000,000, 0.16KNV tokens can be obtained every 24 hours
- When the number of users reaches 10,000,000, 0.064KNV tokens can be obtained every 24 hours
- When the remaining 20% of KNV tokens, will stop issuing
- Node Rewards (to be announced at a later date)
KNV token distribution ratio- 5% - Project Party R&D Reward
- 20% - Project operating expenses
- 10% - Token Liquidity
- 65% - Token Distribution and Node Rewards
Project stageInitial phase
- Allow new members to join
- Get KNV tokens from DApp
Second phase
- Allow members to upload products or service on store
- Enable KYC verification
Third phase
- Connect to RPC Server in wallet
- Allow members transfer tokens to wallet
Fourth phase
- Issuing governance tokens
- Launch a DAO to keep updated the DApp service
- Allow members to connect the node to keep blockchain running successfully
Project visionThe biggest feature of blockchain is the trust mechanism, which is not available in today's society. It is hoped that more people from all over the world will be attracted to join the community and develop different DApps (social, games). Some financial services will be proposed in the DAO community after the relevant laws are passed.
