The KYVE Network is reshaping how developers, node runners, and data analysts access and validate on- and off-chain data. By offering sophisticated, decentralized tools for data validation, immutability, and retrieval, KYVE eliminates the need for cumbersome querying or reliance on centralized data solutions. This Layer 1 blockchain not only ensures the accuracy and security of data through its trustless system but also provides a seamless experience for integrating this data into various backends. Discover how KYVE is setting new standards in data accessibility and storage, driving the future of decentralized data utilization.

Introduction to KYVE Network

KYVE Network is revolutionizing customized access to on- and off-chain data by providing fast and easy tooling for decentralized data validation, immutability, and retrieval. With KYVE, developers, node runners, data analysts, and more no longer need to worry about tedious querying or relying on centralized, non-validated data solutions when building for the future. Rely on KYVE as your trustless data hub.

Token Market Data

Coin Statistics:

• Current Price: $0.1247
• Market Cap: $63,630,498.91
• 24h Price Change: 1.15%
• 7d Price Change: 4.50%
• 30d Price Change: -2.16%
• 24h High: $0.1250
• 24h Low: $0.1154
• All-Time High: $0.1972 (2024-01-27T02:34:00.000Z)
• All-Time Low: $0.0219 (2023-11-07T08:50:00.000Z)
• Circulating Supply: 510,143,475.20
• Total Supply: 1,096,405,815.81

Purpose and Utility of the KYVE Network Crypto Token

Decentralization and Security

The KYVE Network crypto token, $KYVE, serves as an essential part of the blockchain, enabling decentralization, chain and protocol security, network incentivization, and more. The token has multiple utilities across the KYVE Network, including staking and delegating to secure the network through Proof of Stake (PoS) on both the chain and protocol levels.

Token Utility

$KYVE tokens are used for staking and delegating, securing the network through Proof of Stake (PoS) on both the chain and protocol levels. Additionally, they are used for funding, staking, and delegating on the protocol level, providing security for uploaded data.

Governance

$KYVE tokens are used for submitting and voting on proposals, allowing stakeholders to have a say in the evolution and growth of KYVE.

Scalability

KYVE has transitioned to an application-specific Cosmos SDK Layer 1 blockchain, which has resolved scalability limitations and enabled the rethinking of its tokenomics strategy to provide more advanced and beneficial token utility possibilities.

Incentivization

$KYVE tokens incentivize node runners to participate on the protocol level by staking tokens on the chain. Validators are compensated with $KYVE tokens, creating a virtuous circle where the value of $KYVE tokens is boosted by rewards from users, companies, or projects utilizing the pools.

Staking Rewards

KYVE staking involves delegating $KYVE tokens to different types of validators to secure the network and earn rewards. The reward amount is influenced by the amount of $KYVE tokens staked and the overall network activity.

Unique Features and Benefits

Two-Layer Structure

KYVE's unique features include its two-layer structure, consisting of the Chain Layer and the Protocol Layer. The Chain Layer is a sovereign Proof of Stake (PoS) blockchain constructed with Ignite, powered by independent nodes that allow users to support and safeguard the KYVE blockchain. The Protocol Layer has its protocol nodes that collect data from a data source, package and upload it to any decentralized storage solution, and then validate it, keeping track of which data is genuinely valid for its users to access. This enables KYVE to store any data indefinitely and is decentralized, resulting in a so-called Web3 data lake.

Tokenomics

KYVE's tokenomics includes uncapped inflation schedules over time, providing validator incentivization in the case of low activity while also referencing the "EIP-1559" standard for the (partial) burning of transaction fees. This helps prevent pools from being taken over by malicious, hefty token holders and ensures that these parameters get configured over time to maintain network stability.

Tokenomics and Distribution Model

Total Token Supply

The total token supply of $KYVE is 1,000,000,000 tokens.

Tokens in Circulation

The number of tokens in circulation is not explicitly stated in the provided sources.

Maximum Supply Cap

There is no maximum supply cap for the $KYVE token, as it follows an uncapped inflation schedule over time to ensure continuous incentives for validators and promote network stability.

Token Distribution

The token distribution of $KYVE is as follows:

• Ecosystem: 27.50% (275,000,000 KYVE)
• Korellia Testnet Rewards: 2% (20,000,000 KYVE)
• Foundation Delegation: 10% (100,000,000 KYVE)
• Developer Adoption: 10% (100,000,000 KYVE)
• DEX: 2.5% (25,000,000 KYVE)
• R1: 10% (100,000,000 KYVE)
• R2: 11.5% (115,000,000 KYVE)
• R3: 10% (100,000,000 KYVE)

Vesting Periods, Lock-Ups, and Release Schedules

Due to the demanding market and macro conditions, as well as the fact that the last round was closed at the end of the bull market cycle, the token release schedule has been updated to better prepare for possible sell pressure from earlier round participants.

• First-round participants' tokens are fully released after up to four years, while round three participants' tokens are released within one year.

Liquidity Update

To secure a minimum level of liquidity at launch, the team has expanded its DEX reserve from 1.15% to 2.5% of the genesis supply of tokens. Additionally, 10% of the genesis network supply has been carved out for the Foundation Delegation Program from the Ecosystem endowment, serving to create an attractive size for the program and limit the number of community $KYVE subject to slashing and other network validation risks.

Bonded Ratio and Proof of Stake (PoS) Participation

Locked tokens affect the Bonded Ratio, so it's important to include some baskets in the bonded ratio, which won't participate in the PoS. Any tokens transferred from the baskets and turned into liquidity will not be counted in the bonded ratio unless they are actually staked or delegated.

Inflation and Fee Burning

KYVE's tokenomics deploy policies to adjust its token inflation by introducing a fee-burning model referring to the EIP-1559. The network starts