Kora - Financial System with Infrastructure Trusted
The Kora Network
Kora is a popular musical instrument in the Western/Eastern region of Africa frequently played in songs of celebration or to pass a message of hope to its listeners.
We are building the infrastructure needed for inclusive, community-owned financial services ecosystems powered through blockchain, all based on:
- Universal access: Anyone can use Kora. You don’t need a smartphone or even Internet access. You don’t need a sophisticated understanding of technology or finance. All you need is SMS/USSD access.
- Engaging with existing communities: Traditional service providers have always existed within communities. We propose a new concept: “Community Value Networks,” or CVNs. The Kora Network empowers long-existing and trusted networks in the communities, providing them the opportunity to create and grow their own CVNs, keeping established relationships in place.
- Ecosystem approach: Providing a standalone service in the financial services space can inhibit the quality of service to be provided to the underserved. From its launch, Kora would build the entire ecosystem needed to cater to the various users and communities on the Kora Network.
- Low cost: Kora drives its costs down by automating or removing much of the overhead that traditional financial services providers face through use of the blockchain.
Our MVP is currently running on the Rinkeby testnet, with an Android app and SMS interface. All transactions are recorded on the Ethereum blockchain and connected to user identities through uPort, and are independently verifiable. This both allows users to build a consistent credit history, and allows regulators to verify compliance and help guard against financial crimes. 3rd party services like GRID+ or SALT Lending can also be easily integrated onto the Kora Network to extend the range of services provided.
Kora Network Token and eFiat
Cash is attractive to many users because it is anonymous, tangible, and has zero transaction cost. But it’s also difficult to transmit across distances, or to settle large accounts with.
The Kora Network will support national currencies as electronic, cryptographically secure tokens (eFiat). As a digital currency, eFiat can be sent over distances and in large amounts.
By introducing eFiat, we leverage the trust people have in fiat currencies, increasing ease of use, and therefore, adoption.
Kora will also have a native crypto-currency known as the Kora Network Token (KNT). KNT will be used to secure and manage the cost of accessing the Kora Network.
Vision
Kora aims to end extreme poverty especially in the most remote regions around the world. We will achieve this by leveraging the existing communities that already support services people trust.
We see in Kora the hope of financial freedom, empowerment, and wealth creation to the billions in regions of the world previously considered unprofitable.
Join Kora in creating opportunity for everyone.
Ecosystem
We believe Kora will build wealth by creating self-sustaining, community-owned ecosystems. “Selfsustaining” means the wealth in the community as a whole grows, and “community-owned” means participants in the existing community take on most of the key roles within the ecosystem.
eFiat
eFiat are digital versions of national currencies that are 100% backed by cash reserves, and redeemable on a 1:1 basis. eFiat will increase ease of use and adoption by offering users the benefits of digital currency in a form they understand and trust.
Token Sale Details
The launch of the Kora Network, and the token creation and emission process, will be organized around the Kora Network public blockchain. The goal of our token sale (the Token Sale) is to decentralize ownership of KNT to ensure the crypto-economic stability of our network, and to exchange KNT for capital to execute on our vision of unleashing the world's potential for wealth creation and becoming a leader in financial services [for the unbanked].
1. Contributors supporting the development of the Kora Network can do so by sending Bitcoin or Ether to the designated address.
2. The KNT received by a contributor is fixed at the USD price at which they bought it. The hardcap for the Token Sale is $24 million.
3. Further details about the Token Sale will be released online. Sign up on our website to stay up to date, and to complete the contribution process.
4. The Token Sale will be split into two phases: Pre-Sale and Public Sale.
5. The minimum investment amount for the Pre-Sale is $5000.
6. There is no minimum investment amount for the Public Sale, and the maximum is $1 million per unique identity.
7. Excess contributions will be refunded.
8. Kora Technologies Limited controls the contract, and the multi-sig address to which funds will be sent.
9. KNT will be distributed to Contributors as an ERC20 token after the token sale is completed. KNT-ERC20 tokens can be redeemed for KNT on the Kora Network when the public blockchain is launched in Q3 2018.
10. All unsold tokens will be burnt.
Token Contribution Overview
Token Symbol: KNT
Minimum Purchase: $5000 USD
Currencies Accepted: BTC and ETH
Our portal is available by invite-only to Whitelist members. If you have signed up on the Whitelist, you will receive an invite to the email you signed up with. If you have not signed up already and wish to get early access, you can do so here.
Security
Be aware for phishing URLs, fake domains, users posing as admins on Telegram or any of our other communities, and emails from non-trusted parties. Be responsible for taking the necessary precautions and stay vigilant.
Our contract address will ONLY be available on our portal. It will never be revealed publicly on any community at any point.
- Only send funds to the address on the portal.
- Do not ask others for the collection address, the link to the portal, or the link to our website.
- We will NEVER personally message you with a wallet address asking you to directly send funds.
- Beware of scammers.
- If you have questions, please email info@kora.network
We believe Kora will build wealth by creating self-sustaining, community-owned ecosystems. “Selfsustaining” means the wealth in the community as a whole grows, and “community-owned” means participants in the existing community take on most of the key roles within the ecosystem.
eFiat
eFiat are digital versions of national currencies that are 100% backed by cash reserves, and redeemable on a 1:1 basis. eFiat will increase ease of use and adoption by offering users the benefits of digital currency in a form they understand and trust.
The launch of the Kora Network, and the token creation and emission process, will be organized around the Kora Network public blockchain. The goal of our token sale (the Token Sale) is to decentralize ownership of KNT to ensure the crypto-economic stability of our network, and to exchange KNT for capital to execute on our vision of unleashing the world's potential for wealth creation and becoming a leader in financial services [for the unbanked].
1. Contributors supporting the development of the Kora Network can do so by sending Bitcoin or Ether to the designated address.
2. The KNT received by a contributor is fixed at the USD price at which they bought it. The hardcap for the Token Sale is $24 million.
3. Further details about the Token Sale will be released online. Sign up on our website to stay up to date, and to complete the contribution process.
4. The Token Sale will be split into two phases: Pre-Sale and Public Sale.
5. The minimum investment amount for the Pre-Sale is $5000.
6. There is no minimum investment amount for the Public Sale, and the maximum is $1 million per unique identity.
7. Excess contributions will be refunded.
8. Kora Technologies Limited controls the contract, and the multi-sig address to which funds will be sent.
9. KNT will be distributed to Contributors as an ERC20 token after the token sale is completed. KNT-ERC20 tokens can be redeemed for KNT on the Kora Network when the public blockchain is launched in Q3 2018.
10. All unsold tokens will be burnt.
Token Contribution Overview
Token Symbol: KNT
Minimum Purchase: $5000 USD
Currencies Accepted: BTC and ETH
Our portal is available by invite-only to Whitelist members. If you have signed up on the Whitelist, you will receive an invite to the email you signed up with. If you have not signed up already and wish to get early access, you can do so here.
Security
Be aware for phishing URLs, fake domains, users posing as admins on Telegram or any of our other communities, and emails from non-trusted parties. Be responsible for taking the necessary precautions and stay vigilant.
Our contract address will ONLY be available on our portal. It will never be revealed publicly on any community at any point.
- Only send funds to the address on the portal.
- Do not ask others for the collection address, the link to the portal, or the link to our website.
- We will NEVER personally message you with a wallet address asking you to directly send funds.
- Beware of scammers.
- If you have questions, please email info@kora.network
Token Allocation
Token Sale - 45% : 339,753,302
Sold to raise funds and increase liquidity of KNT.
Reserved for growth - 20% : 151,001,468
Locked up for a minimum of one year and released as necessary. Used for establishing partnerships, onboarding users, and expansion into new markets.
Reserved for R&D - 20% : 151,001,468
Locked up for minimum of two years and released as necessary. Used to develop protocol and shared infrastructure.
Team - 15% : 113,251,101
Team Token Grants that will be locked up in a two year vesting period with a 6 month cliff.
Use of Funds
Funds raised during the Token Sale will be used solely for the research, development, and growth of the Kora Network. The Use of Funds will be monitored by the Board of Advisors, and we expect to use the following structure when operating our project.
Research & Development - 50%
Research, development, and maintenance of the Kora Network and any software deployed in the Network. Will be distributed to various development groups and individuals.
Network Growth - 30%
Onboarding users onto the Network, maintaining a positive user experience, compliance with various government regulations and other tasks needed to grow the Network. Will be distributed directly to Providers.
Kora Accelerator - 10%
Primarily for seed funding of startups that build value-add applications on the Kora Network. Will be distributed directly to startups in exchange for equity.
Social Impact Investment - 5%
Used for funding of social impact projects that help build out the Kora Ecosystem.
Legal & Token Sale Marketing - 5%
To cover costs of forming the optimal legal structure for the Token Sale, for marketing the Token Sale, and the final Token Sale audit.
Details Information :
Website : http://www.kora.network/
Campaign : https://bountyhive.io/join/Kora%20Network
Facebook : https://www.facebook.com/thekoranetwork
Twitter : https://twitter.com/Kora_Network
Telegram : https://t.me/kora_network
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1273699
Token Sale - 45% : 339,753,302
Sold to raise funds and increase liquidity of KNT.
Reserved for growth - 20% : 151,001,468
Locked up for a minimum of one year and released as necessary. Used for establishing partnerships, onboarding users, and expansion into new markets.
Reserved for R&D - 20% : 151,001,468
Locked up for minimum of two years and released as necessary. Used to develop protocol and shared infrastructure.
Team - 15% : 113,251,101
Team Token Grants that will be locked up in a two year vesting period with a 6 month cliff.
Use of Funds
Funds raised during the Token Sale will be used solely for the research, development, and growth of the Kora Network. The Use of Funds will be monitored by the Board of Advisors, and we expect to use the following structure when operating our project.
Research & Development - 50%
Research, development, and maintenance of the Kora Network and any software deployed in the Network. Will be distributed to various development groups and individuals.
Network Growth - 30%
Onboarding users onto the Network, maintaining a positive user experience, compliance with various government regulations and other tasks needed to grow the Network. Will be distributed directly to Providers.
Kora Accelerator - 10%
Primarily for seed funding of startups that build value-add applications on the Kora Network. Will be distributed directly to startups in exchange for equity.
Social Impact Investment - 5%
Used for funding of social impact projects that help build out the Kora Ecosystem.
Legal & Token Sale Marketing - 5%
To cover costs of forming the optimal legal structure for the Token Sale, for marketing the Token Sale, and the final Token Sale audit.
Details Information :
Website : http://www.kora.network/
Campaign : https://bountyhive.io/join/Kora%20Network
Facebook : https://www.facebook.com/thekoranetwork
Twitter : https://twitter.com/Kora_Network
Telegram : https://t.me/kora_network
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1273699
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