What IsKaiba DeFi (KAIBA)?

Kaiba DeFi is a decentralized finance (DeFi) platform that provides infrastructure by implementing efficient smart contracts. Kaiba proposes to design its native blockchain network, Lightning Chain, to implement smart contracts that aim to reduce transaction fees on the platform. According to its whitepaper, Kaiba’s mission is to restore the affordability of the Ethereum network for users. Kaiba aims to address the various issues that arise when using the Ethereum network, such as high transaction fees, high power consumption, high entry barriers, etc. Kaiba does not seek to replace Ethereum but rather seeks to become compatible with its ecosystem. 

KAIBA is the native utility token.) of the Kaiba DeFi platform. KAIBA is utilized for functions such as transactions and staking on the Lightning Blockchain network. To maintain the scarcity and value of the KAIBA token, 20 percent of the total supply is to be burned periodically. Coin burning is the process of removing digital currencies from circulation to reduce availability. A transaction fee of 9 percent is levied on every transaction that is allocated to the expansion of the ecosystem. KAIBA holders may also stake the tokens to obtain security and governance rights on the network. 

The Kaiba Smart Contract bridges the Lightning blockchain and the native platform token in order to reduce fees for transactions that use KAIBA. The Kaiba Internal Virtual Chain (IVC) contains all transactions within the Ethereum network by employing KaibaSwap. KaibaSwap is a decentralized exchange (DEX platform where users can exchange ETH compatible tokens at a reduced transaction fee. Kaiba Lightning Chain (KLC) is a smart contract that implements a Proof of Reputation (PoR) mechanism. Unlike a Proof of Stake (PoS) or Proof of Work (PoW) mechanism, the PoR contract requires node validators to make themselves known and are selected based on their trustworthiness. 

History of Kaiba DeFi (KAIBA)

Kaiba DeFi is led by P.C. (I.), Max, Ory X, Louis, Timothy, and Ian. The total supply of KAIBA tokens is fixed at one hundred million.