KISS-Token-Utility

KISS Token Utility

Unlock a new world of digital security with the KISS Token. It could just be the best kiss of your life!

KISS Tokens can be used to not only redeem UKISS Hugware, but also to redeem annual platform subscriptions and unlock security services and products from our UKISS Suite of Applications and associated digital security solutions.

To stimulate user adoption and facilitate the expansion of the UKISS Ecosystem, a limited number of early adopters will receive a free subscription for the first year. A modest cost will be charged for subsequent annual subscription renewals, which can be paid in cash or KISS Tokens.

Here is more information about the KISS Token utility.

  • Supplier Staking

UKISS will work closely with third party software partners to ensure top-notch service level provisions and security-auditing of these solutions and applications before offering them to users. To ensure providers meet our rigorous KPI, providers have to stake a certain amount of KISS Tokens as a guarantee. These tokens will be vested to ensure quality of service. Vendors are required to top up the stake pool if it drops below a minimum threshold to ensure the continuation of products & services. In the event of violation of UKISS’ SLA, penalties will be levied by deducting KISS tokens from the staked pool.

  • Defi Mutual Insurance

Users can pay KISS Tokens to buy protections against crypto assets losses. Payment of insurance premiums to be made in KISS Tokens. UKISS is working with 3rd party insurance organisations to provide these Defi mutual insurance schemes that are funded using KISS Tokens from end-users and institutions.

  • Yield Farming

KISS LP yield farming will be offered to our KISS holders who will provide liquidity for our KISS tokens and share in the yield.

  • Governance Tokens

The KISS Token is also a governance token. Hodlers have a chance to partake in decisions concerning the ecosystem by voting with their KISS Token. They can even potentially receive rewards for participation.

  • PKIV NFT

Users get to mint NFTs of their identity credentials such as government/state issued ID. These will be stored on the UKISS PKIV CA blockchain and the UKISS Hugwaresafeguards the Private Keys to these NFTs. This service is available for all KISS Token holders and only the gas fees will be charged.

Users can also mint NFTs of official documents such as SAFT documents, property deeds, education certificates, health records, business contracts etc.

With the increasing adoption of the UKISS Hugware and the growing utility of the KISS Token to mint more PKIV NFTs, enterprises can collaborate with UKISS on developing better applications and solutions by making use of these NFTs for KYC requirements and processes. Unlike the traditional business’ top-down approaches, this bottom-up approach of building and using NFTs will benefit both consumers and enterprises. Enterprises are required to pay transaction fees in cash or KISS Tokens.

  • Commercial Document NFT 

Commercial documents often need to be proven unique, authentic with verified ownership. They are thus most suitable to be represented and secured by a Hugware protected NFT. Entities need to burn KISS Tokens to mint these NFTs. The identity of the individual and entity are verified and stored on our CA blockchain.

  • NFT Farming 

KISS Token hodlers can stake KISS Tokens and get the chance to mint special limited edition NFTs that will reward their owners with special privileges such as complimentary lifelong membership subscription and more. Successfully minted NFT will have their corresponding KISS Tokens burned. Farm a lifetime membership with UKISS!

  • Staking Pool Reward 

30% of the KISS Tokens acquired from users through subscription and application payments will go to the vendors and application providers as revenue. 10% will go towards covering the costs of operations of the UKISS Application Platform (UKAP). The remaining 60% will be placed in a Yield Reserve Pool (YRP) as yield payment for user staking. Out of the YRP, a part will be given to affiliates and referral users. 

The User Staking Pool (USP) is a pool that holds all users’ staking and will offer a maximum 12% APY. This APY will be provided by the YRP. In the first year, UKISS expects a total market circulating supply of about 26 million KISS and targets a 70% staking ratio. As such, UKISS will inject an initial 2,184,000 KISS into the YRP from the reserve fund, thereby creating an expected USP pool size of 18.2 million KISS tokens.

KISS Token Utility Cycle Diagram

About UKISS Technology

UKISS Technology is pioneering the next-generation cryptosecurity wallet that is simple, safe, and secure to use. Their technology has also been granted patents in most major markets including China, the United States, Europe, Asia, and India. Their clients include government ministries, leading medical healthcare providers based in the APAC region, and major FinTech players.

Visit www.ukiss.io for more info.

Related posts

Crypto Token Standards Explained

Crypto Token Standards Explained

Token standards vary depending on the different smart contracts they follow. If you’re looking to…
NFT Gaming Explained

NFT Gaming Explained

NFT gaming is a popular way of collecting NFTs while playing games online. It allows…
$2.9M NFT tweet struggles to sell, US blames North Korean group for crypto theft

$2.9M NFT tweet struggles to sell,...

Goooodddd Friday, folks! Twitter is taking over the Web 3 headlines this week, starting with…

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email