KILT Protocol announced the launch of Sporran and Stakeboard, distributing KILT to crowdloan backers
KILT, a blockchain protocol for issuing verifiable credentials that harnesses Kusama (KSM) and Polkadot (DOT) instruments, becomes a fully decentralized blockchain network. And they are making outstanding developments. According to the project, they announced the launch of Sporran and Stakeboard. The team says Sporran is a browser extension that will function as a wallet for KILT tokens, while Stakeboard is the staking platform for KILT.
TTE IS TODAY!
Today is KILT’s Token Transferability Event. KILT Coins were delivered to crowdloan supporters who can now store them in their Sporran wallet and stake on Stakeboard.
Full blogpost here: https://t.co/6R77idLzWt
— KILT Protocol – We’re Hiring! (@Kiltprotocol) November 22, 2021
What are Stakeboard and Sporran?
According to KILT Protocol, Stakeboard is a web application that allows you to interact directly with the KILT blockchain to stake your KILT Coins.
Accordingly, to participate in staking on Stakeboard, users need to have KILT Identity (wallet address) with at least 1,001 KILT Coins (1,000 for staking; 1 to cover any transaction costs). Each Identity with this minimum can choose a collaborator to entrust their funds.
Meanwhile, Sporran is a browser extension that will function as a wallet for KILT tokens. And in early December, users will also be able to use Sporran to store credentials and create a digital identity — similar to how you would live in the real world by adding credentials to users’ wallets.
Sporran is available for use as a browser extension on Google Chrome and Firefox
In another exciting development for Kusama (KSM) ecosystem members, Kusama parachain auction winner KILT has started their token distribution, and the team has now rolled out the Sporran wallet and Stakeboard to facilitate secure and frictionless storage and staking of the digital asset.
KILT Protocol was the 6th project to win a parachain slot auction on Kusama and received support from more than 8,000 users who contributed their KSM to back KILT Protocol’s auction bid. These crowdloan supports were rewarded with KILT.
During the first year of KILT’s launch, investors can earn up to 8% per year from their KILT holdings. This rate will drop to 6% in the second year of the foundation.
KILT Protocol is the blockchain-based instrument for issuing self-sovereign, anonymous and transparent credentials. Since its launch, the protocol has had 16 collators; this number will increase to 75 in the coming weeks.
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