As the year 2020 started, Israel-based blockchain startup, Kirobo, introduced a service that reverses the Bitcoin transactions.
Ever since then, the blockchain startup completed its beta phase to introduce its own token KIRO. Now, Kirobo has released another innovative program called ‘whale-proof’ staking program for its token.
Kirobo Can Reverse Bitcoin Transaction
The Israeli blockchain startup gains popularity in the market for its ability to reverse the transaction of self-custodian Bitcoin.
The startup has notified that with the help of KIRO, the customers can gain the access to Kirobo services at a cheaper rate.
The blockchain startup also stated that apart from gaining services at a cheaper rate, they could stake the tokens in order to support the network.
The CEO of Kirobo, Asaf Naim, has recently said that the users should trust the blockchain and crypto industry, it desperately needs that. And Kirobo creates that trust among its users by offering the services, they needed.
Kirobo launched the KIRO services in April 2020 and since then the team discovered that compared to the average amount of a standard Bitcoin transaction, Kirobo’s native token’s transaction was 7.2 times higher.
Stake KIRO Tokens To Earn Rewards
According to the report, the startup had deployed the retrievable transfer services in over four percent of transactions.
Soon after KIRO was launched in the market, its trading volume within 24 hrs reached $580,000 and its price quadrupled. However, in no time, its value came down to twice the launch price.
Now, Kirobo is working on liquidity staking and it has also decided to lower the transaction cost on its platform. This way, the platform can attract more users and it would become more accessible.
Notably, if the investor puts their fund in the liquidity of currency then they could earn more rewards in this type of staking.
However, the developers of Kirobo made its staking program ‘whale-proof’ which initially will allow the users to hold only seven Ethereum in their wallet.
Naim, while explaining how the ‘whale-proof’ staking program will work, stated, “Limiting the staking in this way effectively neutralizes any efforts to influence the price by a limited number of holders.”