KIRO, Kirobo’s native ERC-20 token. is a utility token that powers the Kirobo ecosystem. 2,200,000,000 KIRO - the maximum supply - were minted at launch.
KIRO serves five main purposes:
1. Payment for using system features
Whenever a user sets up a Liquid Vault feature, they must pay a service fee in KIRO. When they make changes to the settings (for example, altering heirs), they pay 20% of the original fee.
2. Triggering system features
Conditional transaction are smart contract operations that have been set to occur when a condition is met. In order to do this, they must receive a trigger transaction. These trigger transactions are paid in KIRO.
3. Incentivizing system activators
When a user sets a conditional transaction, they must pay a deposit fee. When an activator activates this conditional transaction, they will receive 70% of this deposit fee as a reward. The remaining 30% is distributed amongst all activators in the system, in proportion to the amount of KIRO they hold in their vaults.
In addition, activators receive a share of all service fees paid by all users, in proportion to the amount of KIRO they hold in their vaults.
4. Enabling activator rights
In order to become a system activator, a user must hold a minimum amount of KIRO in their Liquid Vault.
5. Governance token
Kirobo will set up a DAO mechanism with the power to alter the system, provided a majority consensus is achieved. A user must hold 100,000 KIRO in their Liquid Vaul to gain voting rights.
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