Powering Klover Network with $KVN utility token

Mar 27, 2023 | Exclusive

$KVN is a unique token that will transform the online casino industry with its fixed supply, deflationary design, and multiple use cases . It serves as the primary payment method on our aggregator platform. $KVN will in future, expand to other chains and then migrate to its own blockchain for increased transparency and fairness.

$KVN Use case in Ecosystem

Access to Aggregator API

To access the Game Aggregator API, online casinos must acquire a Lucky Klover NFT as a license and stake a specified number of $KVN tokens based on the frequency of API calls made to the Klover Network. This staking mechanism encourages efficient resource management by online casinos and prevents excessive API calls that could overload the network. This also ensures that the Klover Network remains scalable and accessible to all users. Moreover, it creates a barrier of entry on the platform and guarantees a certain standard of online casinos on the Klover Network. Thus providing players with a seamless experience and enjoyable gaming sessions.

Real Yield Farming

The Klover Network offers a unique opportunity for investors to earn real yields through staking $KVN tokens. When users stake their tokens, they will earn additional $KVN tokens as a reward. The reward is calculated as a percentage of the platform’s revenue from the previous month. This reward percentage will be determined based on several factors, namely the amount of tokens staked, the staking tier multiplier, the lock period multiplier, and the number of stakers.

By linking staking rewards to the platform’s revenue, Klover Network can establish a sustainable business model that avoids the risk of overpaying stakers while causing the token price to decrease in value. This approach is significantly different compared to the generic approach taken by many other Web3 projects. It emphasises Klover Network’s commitment to creating a transparent and fair ecosystem for all users.

Collateralized Loan

Klover Network investors can use their $KVN tokens as collateral, to obtain a loan in the form of other cryptocurrency, for playing various casino games on the platform. This feature allows users to enjoy the entire selection of games without having to liquidate their $KVN holdings.

Lottery Draw

On a weekly basis, a portion of the casino’s revenue, equivalent to 10%, will be added to the jackpot prize pool. To participate in this lottery, users can purchase tickets using $KVN. 50% of the ticket earnings will be burned, and the other 50% will be added to the jackpot pool, increasing the potential winnings for all participants.

Play Games & Buy NFTs

$KVN tokens can be used to play various casino games or to acquire NFTs related to casino games. Utilising $KVN tokens for these transactions will ensure significantly lower transaction fees, which are estimated to be below 0.1%.

DAO Voting

As Klover Network continues to grow and develop, our ultimate goal is to transition to a DAO. This means that $KVN token holders will have the opportunity to participate in the decision making process of the platform. Token holders will be able to exercise voting rights on significant decisions, such as the addition of new Game Providers, prioritizing features and pursuing strategic partnerships, amongst other things. Transitioning to a DAO is part of our efforts to decentralize the governance of Klover Network and create a community-driven platform. Empowering our community with the ability to shape the future of the Online Casino industry, we are building a sustainable, inclusive, and innovative platform.

Additional Information

Building Loyalty with xKVN

Klover Network has introduced a loyalty program to incentivize users for actively participating on the platform. Through this program, users will receive a second token called xKVN as a standard reward for their engagement with the platform, including playing games. xKVN will have its own set of use-cases and utility within the Klover Network, including the ability to be converted into $KVN. This will encourage users to continue using the platform and will ensure that a loyal and tight knit community is formed.

Burning $KVN

Klover Network will implement a deflationary mechanism by regularly burning $KVN tokens. Activities such as purchasing lottery tickets will trigger this burning process. The primary aim of burning tokens is to gradually reduce the overall supply of $KVN, which will in turn increase the value, due to it’s scarcity within the market. The Klover team will adjust the burning ratio periodically to establish a stable and sustainable deflationary mechanism.

$KVN is a unique utility and governance token designed to revolutionize the online casino industry. It has a fixed supply and deflationary effect, increasing in value over time. $KVN is the primary payment