The DeFi farming industry has grown tremendously over the past few months reaching a market capitalization higher than $15 billion. KORE is a new non-inflationary cryptocurrency and a sustainable farming model that utilizes an autonomous profit generation method.
About Kore Vault
Kore Vault has created the $KORE token that is distributed to users through a liquidity generation event. The total supply is capped at 10,000. Transaction fees are collected for every KORE transfer or exchange, used to rewards liquidity providers.
The new DeFi project intends to solve the current issues with yield farming. The traditional method of generating tokens on a block-by-block basis is intrinsically bad for the long-term value of the asset.
Instead, KORE utilizes an innovative deflationary farming system that aims to create long-term value for the token.
Features of KORE
One of the main features of KORE is the autonomous yield generation system that allows users to stake tokens like Ethereum and stablecoins like USDC, or Dai to farm KORE. Additionally, secondary tokens like aUSDC, and aLINK are also supported.
Governance
Like many other tokens, KORE holders have the right to propose changes to the network, vote, and make any necessary adjustments to kVault strategies. Furthermore, holders can even mint and burn KORE tokens and change fee details.
Unlike other traditional governance tokens, KORE holders are incentivized to participate in voting and to propose solutions through KORE token mining. This means that holders will be rewarded for voting and compensated for the gas spent.
KORE does support delegates, meaning that holders can delegate their voting power to another user with a credible background if they want to.
Exchanges and Pricing
KORE has a maximum supply of 10,000 tokens and is listed on Uniswap and Bilaxy. The token usually has around $1 million in trading volume per day and reached an all-time high of $320 on October 21. The current fully diluted market capitalization would be around $2.44 million.
Upcoming Products
The project officially announced the launch of KVault02 on October 27. Users that want to utilize the new vault will need to get wKORE. The main mission of this new product is to benefit traders and holders by providing a place to earn interest for holding KORE.
‘KVault 02 will earn it’s rewards from a 0.5% fee on sell orders and transactions of KORE — similarly to KVault 01. Your KORE will need to be zapped into wKORE (wrapped KORE) before staked into the vault automatically with our KZap. You can withdraw and zap your wKORE back to KORE at any time.’
Conclusion
Although Kore Vault is a new DeFi product, the project’s code is being audited by third-party firms to maximize security. The new autonomous farming mechanism is used by the project to solve the current issues with traditional yield farming platforms, especially to protect the long-term value of the token.
