Every progress made in technology provides a solution to a problem and consequently, every technological advancement is, directly and indirectly, responsible for the betterment of human lives today. One of the most beneficial channels of this technological progress is the finance sector. Banking operations have been so simplified we can make all sorts of transactions, deposits, transfers, subscriptions, payments etc. from the convenience of our homes. The introduction of cryptocurrency and the blockchain technology further simplified banking operations eliminating the remaining deficiencies and limitations of the sector. Konero is the newest asset in the financial sector, riding on the disruptive wave of the blockchain technology.
What Is Konero?
Konero is a decentralized platform powered by the blockchain technology that allows users to make transactions, earn money from payment processing and engage in value-added services like sports betting, communication services, and video streaming. The platform also offers a peer to peer decentralized lending and borrowing portal where both parties – lenders and borrowers can interact freely and agree on terms of the loan. Konero generates profit for lenders via interest charged on the loans. Fundamentally, Konero provides value and speed of a decentralized system of transaction with a business that provides residual income for its users.
Konero XKO Token Crypto Payment Processing & Sports Betting
Konero Coin is an ERC-20 complaint token of the Ethereum network based on the Proof of Authority (PoA) protocol. All operations, transactions, and services on the Konero platform will be conducted using XKO. Konero offers XKO token holders preferential access to blockchain services that will directly increase the value of their assets on the platform. XKO is a sustainable and consistent crypto coin whose value is not affected by the volatility of the cryptocurrency market. Additionally, 45% of the revenue generated from the platform is distributed to the token holders and paid directly into their wallets. The profits from the growth of XKO in cryptocurrency exchanges are given users as well.
Konero XKO ICO Details
Konero is issuing its cryptocurrency – XKO for sale in exchange for investments in an ICO to raise funds for the development and growth of the platform as well as an expansion of its services. An amount of 10 million XKO was issued by the platform. Konero does not plan to create more coins, which means that at any given time, a maximum of 10 million XKO will be in circulation. A limited number of coins would result in increased demand and subsequently an increase in the value of the coins. Out of the 10 million XKO, 9.2 million XKO are available for sale in the ICO. For the remaining 8%, 300K coins (3%) will be held in reserve for future investors while 500K coins (5%) will be allocated to the founders, advisors and Konero team members.
The ICO started on the 1st of March 2018 and is scheduled to end on the 1st of April 2018. The tokens will be offered at the price of 1 XKO for 0.000983 ETH or $0.60 with a minimum investment limit of 100 XKO. The hard cap for the ICO is fixed at 10,000 ETH, a 50% token bonus is available to all investors at every point of the ICO. At the end of the ICO, unassigned coins will be burned by the system. Funds gotten as investments will be distributed into 3 major areas; 35% will cover for expenses made in promotion and marketing, 45% will be used for development of the project, adoption of blockchain protocols and expansion of the services offered on the platform. The remaining 20% will be set aside for payments and other operations. As at the time this report was written, there was no update on the status of the ICO, as in tokens sold and funds received.
The goal of Konero is to provide a single interface for business transactions, loan acquisition, communication services with the added benefit of income generation. Please visit the Konero website here for a more detailed review of the platform, access to the whitepaper and for updates on the ICO, new partnerships, and services.