Klever Weekly Newsletter – February 11

Klever CEO Dio Ianakiara held an AMA, while Klever’s TRON Proposal 51 went into effect. Bitcoin hit new ATH as MasterCard & America’s Oldest Bank joined BTC, right after Tesla invested $1.5B in BTC.

AMA with Klever CEO Dio Ianakiara

If you missed the live AMA with Klever’s CEO Dio Ianakiara, no need to worry. Here is the full transcript where Dio addressed Klever’s upcoming platforms, security and KLV’s new burn mechanism.

TRON Proposal 51 Set To Make TRX Deflationary Asset

The new proposal would increase bandwidth & energy fees by 3,5x in order to encourage a higher TRX freezing rate, reduce TRX in circulation & promote TRX’s value increase through a deflationary model.

Proposal 51 is a result of discussions initiated during the last SR meeting where TRON’s representatives presented network statistics following the last energy price increases, which showed that the last upgrade did not reduce valuable transaction volume but it did increase the amount of frozen TRX in the network.

It’s aimed at removing their rate and mitigating the impact of such spam transactions. The other primary goal is to have players freeze more TRX in order to pay less transaction fees.

Proposal 51 and its goals are simple and could be very impactful for the network:

Increase the current near-minimal fees for bandwidth and energy by 3,5 times in order to encourage higher freezing rate of TRX, diminish low-value transactions (spam txs), increase security, reduce TRX in circulation, and promote the increase of TRX’s value by eventually making TRX a deflationary asset.

Klever Tutorial: How To Freeze TRX For Energy & Bandwidth To Lower Fees

The successful voting for Proposal 51 implements 3,5 times higher TRX network fees for Bandwidth and Energy on the TRON blockchain, a move that is aimed at making TRX a deflationary asset by burning more TRX than is created.

After the implementation of Proposal 51, raising the fees on TRON by 3,5 times, users will need to freeze TRX to get Energy & Bandwidth to enjoy lower fees. Here are the steps to freeze TRX in Klever.

What is Energy & Bandwidth?

To explain Bandwidth and Energy in simple words, TRON Bandwidth allows users to perform transactions on the blockchain without paying extra network fees, while Energy is a special resource used to process smart contracts on the TRON network.

What is important from a user perspective, particularly if you are interacting with smart contracts on TRON, is to freeze more TRX for Energy in order to continue to use those smart contracts with no or very small network fees.

Simple Steps to Freeze TRX for Energy

These are the simple steps you need to follow to Freeze TRX to obtain Energy in order to have lower fees when interacting with KLV Staking and other smart contracts:

  1. Go to your TRX account Screen in Klever.

  2. Press Freeze

  3. Press Energy

  4. Freeze TRX to obtain Energy to enjoy lower fees in Klever Staking and other smart contracts running on TRON blockchain.

Simple Steps to Freeze TRX for Bandwidth

These are the simple steps you need to follow to Freeze TRX to obtain Bandwidth in order to have lower network fees when conducting transactions on TRON blockchain:

  1. Go to your TRX account Screen in Klever.

  2. Press Freeze

  3. Choose Bandwidth

  4. Freeze TRX to obtain Bandwidth to enjoy lower fees for transactions.

Tesla buys $1.5 billion of Bitcoin, set to accept BTC as payment

Bitcoin broke a new all-time high as Tesla revealed through a filing with the SEC that they have invested $1.5 billion in Bitcoin, and are planning to accept BTC as a form of payment in the future.

In mere minutes, Bitcoin instantly rose from $39k to a new all-time high of $44,9k on February 8, growing over +14% on the news. This instant market reaction underscores the monumental nature of Tesla going public with their Bitcoin purchases, which cannot be understated.

Tesla wrote in the filing:

“we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term…Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future…”

The move is a game-changer for the entire crypto industry, as the world’s wealthiest man Elon Musk and one of the world’s largest and most futuristic companies under his leadership have made it official that Bitcoin is part of their balance sheet.

To find the entire SEC filing by Tesla please click the link below:

BTC Hits New ATH As MasterCard & America’s Oldest Bank Joins Bitcoin

Bitcoin (BTC) hit a new all-time high on February 11 as it broke $48,678, growing over 5% in 24 hours after news broke about Mastercard’s plans to accept crypto as payment for its 30+ million merchants, and that the oldest bank in the US will launch custody services for Bitcoin.

Mastercard has announced that close to 1 billion of their users will soon be able to spend selected cryptocurrencies at more than 30 million merchants worldwide.

Meanwhile, Bank of New York Mellon, America’s oldest bank, announced plans on February 11 to hold, transfer and issue Bitcoin and other cryptos as an asset manager on behalf of its customers.

Friendly Reminder: KLV trading on KuCoin is LIVE!

Did you hear? Klever (KLV) went live on KuCoin last Friday, February 5!

Now, the pairs KLV/USDT & KLV/BTC is available for more than 6 million traders in one of the largest exchanges in the world.

KLV trading on KuCoin launched with two trading pairs:

You can easily create an account on the exchange by clicking the button below:

For guides on how to open an account and how to commence KLV trading on KuCoin, please click the button below:

Klever Friday Giveaway

KLV is our ecosystem’s main fuel, it supplies our current and future products and services. Now, you’re having a chance to get some.

We’re giving away 50,000 KLV to be shared among 25 lucky winners!

To participate, you just need to join our Telegram Channel, Like & RT the tweet below, follow our official Twitter account @klever_io, for a chance to win 2,000 KLV!

Do you know of our in-app Klever News feature?

You can read all of our articles inside the Klever App by simply clicking on the news button in the lower-left tab. Try it now!

Subscribe to our Klever Newsletter by clicking the button below and join the conversation by leaving a comment.


Klever.io Team

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