The expansion of KLV to Ethereum and Binance Smart Chain reinforces Klever’s purpose to reach even bigger audiences and stimulate financial freedom for all
Klever is about to reach new heights.
KLV is expanding to Ethereum (KLV-ERC20) via Uniswap and Binance Smart Chain (KLV-BEP20) via PancakeSwap. With this new reinforcement, Klever goes deeper in the purpose to reach bigger audiences and stimulate financial freedom for all inside the decentralized blockchain ecosystem.
But what happens with Klever tokens once you trade your KLV to these other networks? How does that system work? Resuming: how does this impact Klever’s project?
We’ll try to answer those questions in the most straightforward and ‘Klever’ way possible.
Bringing communities together
The crosschain technology allows users to make a trade automatically between a pair of cryptocurrencies, calculating its amounts with equivalents through Klever Swap.
Now, let’s go to the practical part.
The improvements in Klever Swap involves the addition of the Ethereum (ETH) based KLV and Binance Smart Chain (BSC) based KLV pairings with KLV-TRC20. So, in order to leave no doubts around the subject, some points can be highlighted:
First of all (and maybe the most important part): the new swap pairs do not affect the current circulating supply or total supply of KLV.
This decision to expand KLV to other chains was based on our purpose to grow our ‘financial freedom for all’ goal. By expanding our capacity and expanding to such great and powerful networks like Ethereum (ETH) and Binance Smart Chain (BSC), two of the most active chains worldwide.
They are both on the list of the most active networks in the world in various terms – volume, community size, projects hosted on top of them, etc.
At the same time, only Tron supply counts for circulation (TRC20).
When the user wants to change from KLV TRC20 to ETH or BSC, the TRC20 will get locked in Klever’s custody. Once the user decides to get back, TRC20 will go out to his/her custody again.
But, if the case is otherwise – the user wants to change KLV from BSC/ETH to Tron – Klever will take the tokens from the reserved address and send them to the desired address.
Mind that the tokens on other chains are also locked in Klever’s custody for liquidity.
The trades made by Klever Swap happen in an automated and autonomous way to guarantee security, agility and the best price for the user at the time of the swap.
The swap is done instantly in your wallet, without the needs of exchanges – or in other words, without KYC, without proof of residence, email, phone number or complicated forms.
And it also has the benefit of continuing to keep your own money. In Klever wallet, you have self-custody of all your data, private keys, and cryptocurrencies, unlike on centralized exchanges that hold custody of your funds.
Still have questions? Please do not hesitate to contact us on firstname.lastname@example.org.