KILT Protocol (KILT) listed on MEXC Global, price increased by 900%

As AZCoin News reported, KILT Protocol has started distributing KILT to users who backed KILT Protocol during their crowdloan on Kusama.

KILT Protocol hits the market aiming to fulfil the need for a decentralized identity solution

Alongside this “Token Transferability Event”, the team also introduced two important tools for the KILT Protocol ecosystem. The first is Sporran, a browser extension wallet for storing KILT and credentials on the KILT Protocol network. The second tool unveiled today is Stakeboard, a platform where users can manage their KILT staking.

Before that, as AZCoin News reported, KILT launched its flagship product, SocialKYC, in May of this year and announced plans to launch it as a parachain on Polkadot. Designed as a decentralized alternative to current KYC processes, SocialKYC verifies users’ identities through their social accounts, email addresses, or phone numbers. As soon as the credential is issued, SocialKYC will forget both it and the user and will not store, store or share any personal data.

In the weeks leading up to its crowdfunding, KILT has enjoyed a popularity that can easily be measured by what Acala saw ahead of its parachain auction. Its ambitious proposal to give users back control of their digital identities seems to have resonated with the market, which has poured tens of millions of dollars worth of KSM into a community account.

And while it’s still hard to say how KILT will perform when it hits one of the larger exchanges, its recent listing on MEXC Global suggests that there’s a lot of appetite for the token.

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KILT/USDT 4-hour chart | Source: MEXC

At the time of writing, KILT is changing hands at $10, recorded a 900% increase in the last 24 hours.

If the protocol’s popularity in the Kusama and Polkadot ecosystems is assessed, KILT could see its price increase further if it realizes its plans to migrate to the Polkadot parachain.

KILT Protocol is the blockchain-based instrument for issuing self-sovereign, anonymous and transparent credentials. Previously, KILT won the parachain slot auction on Polkadot’s “canary network,” Kusama, in early September.

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