Kardiachain Review ($KAI Token)

So, you’re looking for the next 100x coin that can make you HUGE GAINS!

Well you’re not going to find any claims like that here, because we don’t pump and dump on this channel.

But what I can do, is give you a fair and honest review about the technicals, fundamentals and use-cases of what seems to be a pretty solid layer 1 blockchain.

That blockchain is Kardiachain.

What Is Kardiachain?

Kardiachain is an interoperable blockchain with extremely low transaction fees. It has dozens of decentralized applications built on top of it, including NFT marketplaces, yield farming applications, decentralized exchanges, and much more.

The network is powered by their native token, KAI, and the network is secured using a DPOS (Delegated Proof Of Stake) consensus mechanism.

Kardiachain aims to solve the issue of scalability in crypto, by using a patent-pending system called the Dual Masternode system.

They are currently interoperable with 2 blockchains (Ethereum and NEO), but they aim to add 3 more partners this year.

Interoperability

Before we take a look at some of the dApps built on Kardiachain, and before we discuss the KAI token and its tokenomics, I want to talk more about the technology. Specifically the interoperability aspect, and the dual node system.

This is something I’ve seen a lot of people mention, but I haven’t really seen anyone break it down into understandable terms. So that’s what I’m going to do here- I’m going to make you understand exactly how Kardiachain tackles interoperability with other blockchains.

FYI, if you have a short attention span then this part will probably bore the crap out of you. So feel free to skip ahead to the “Tokenomics” section if you don’t care about the technical info.

Integration Without Assimilation

One issue with most other interoperable projects, is that they require the partner blockchain to conform to their own standards. In other words, it requires the partner blockchain to update or fork their existing code, in order to become compatible with the system.

Kardiachain solves this by taking a non-invasive approach- meaning they can integrate with other chains, without any changes being made to the other chain. For example, when Kardiachain added NEO as a compatible chain, they didn’t even need to contact the NEO team for the integration.

KSML

Another issue with interoperablity is that different chains use different programming languages. This makes it nearly impossible for certain blockchains to interact with one another.

Kardiachain uses a language called Kardia Smart contract Markup Language (KSML), which allows different programming languages to be translated into a single format that all of the integrated chains can understand.

This allows different blockchains to communicate with each other, (and with Kardiachain) without having to worry about a language barrier getting in the way.

Dual Masternodes

I’m sure most of you know what it means to operate a node on a blockchain network.

A dual masternode is basically a combination of 2 nodes. In this system, the node operator has 1 node for Kardiachain, and 1 node for the partner blockchain. Kardiachain holders can stake KAI tokens in order to become a node on the network.

Each new node starts off as a regular Kardiachain node by default. However, they can elect to become a dual node if they want to.

I’ll explain exactly how the dual node system works in a minute, but for now, we need to understand its 3 main components.

Translator

The first part of the dual node system is the translator. Remember the KSML language I just mentioned? This translator takes information from other blockchains, and converts that information into KSML for Kardiachain.

It works the other way as well, converting KSML into languages that other blockchains can understand.

I’m sure you’re starting to see the picture here. Being able to take data from Ethereum, and send that data to Cardano for example, opens the door to a lot of possibilities.

Router

The next component of the dual node system is called the router. This router is able to take a look at the different blockchains that are integrated with Kardiachain, and figure out which one of them is the best place to send a transaction at any given moment.

It takes things like transaction speed, network congestion, and fees into consideration when making this decision.

Aggregator

The third component of the dual masternode system is the aggregator. This aggregator takes multiple transactions from other blockchains, and combines them into 1 “batch transaction”, making things much more efficient and scalable.

Dual Masternode System Explained

Let’s take a look at how this works in practice.

First, a user interacts with a smart contract. Let’s say that this smart contract is built on Ethereum, and let’s say it has 3 functions inside of it.

These 3 functions are then ingested by Kardiachain as 3 separate transactions, where they get moved into a transaction pool.

Next, the translator takes that pool of transactions, and converts them all into KSML.

The router then takes those transactions, and sends them off to be handled by other blockchains.

Transaction fees, speed, network congestion etc will determine which blockchains that these transactions are sent to.

Some of the transactions in the pool might be sent to NEO, some might be sent to Ethereum, and when other blockchains are implemented, some might be sent there too.

This means that the original smart contract may actually be handled by 3 or 4 different blockchains before having the result sent back to it.

You can see how this greatly increases scalability, because it leverages the processing power of multiple different blockchains at the same time. If one blockchain is too congested, another blockchain takes over and does the work.

Alright, so the transactions have been sent off to be handled by other blockchains… now what?

The results from those transactions will now be sent back to the Kardiachain dual node system, where they will be handled by the aggregator.

The aggregator combines (or “aggregates”) these separate transactions into one single transaction when possible.

The data from those transactions is then translated back into the original language (Solidity, in the Ethereum example) and returned to the original smart contract.

SDK

As you should now realize, one single smart contract can be processed by many different blockchains.

This is all done based on criteria that Kardiachain chooses automatically. But what’s even better, is that they’ve created an SDK (Software Development Kit) for developers who would rather customize how their smart contracts are handled.

This means that a developer can write a smart contract, and specify which blockchains he or she wants to handle that contract.

The SDK currently offers the ability to code in KSML only, but they plan to allow direct coding of other languages in the future.

Quick Recap

Just in case you’re still not following, let’s recap.

KAI Tokenomics

Ok, let’s talk about the KAI token a bit, and then we’ll explore the ecosystem.

Kardiachain held their IEO on gate.io in April 2020, raising a little over $1M USD.

At the time of this writing, KAI is currently sitting at rank 389 on CoinGecko, with a market cap of just over $100M.

It has a max supply of 5 billion, with a circulating supply of about 3.4 billion.

KAI is the token that powers the entire ecosystem. It’s used to pay the (extremely low) transaction costs, and must be staked by validators who wish to process transactions.

It is also the main token used for providing liquidity, and yield farming on the network.

The current price is just over $0.03, with an all time high of about $0.16

Do I think it could go higher? Maybe, but I don’t do price predictions here. I discuss fundamentals and provide you with what I hope to be helpful information.

Anyway, let’s take a look at some of the dApps that are built on top of Kardiachain.

Kardiachain dApps

Kardiachain has many dApps built on it. It would take forever to list them all, but I will try to cover as many as I can.

KAIDEX

First up, we’ve got Kaidex. Kaidex is the main decentralized exchange of the Kardiachain ecosystem.

It has a traditional order book system with limit and market orders, as well as an AMM (liquidity pools).

They also have a bridge where you can transfer compatible tokens between KardiaChain, Binance Smart Chain, and Ethereum.

Kaidex also has a wrapping service that allows you to wrap and unwrap your KAI tokens in exchange for WKAI (Wrapped KAI).

WKAI is exchangeable 1:1 with KAI, but the WKAI contract has more functionality. This allows the token to be used for things that regular KAI can’t be used for.

In order to interact with Kaidex, you need to use the Kardia Extension Wallet.

They do plan to implement MetaMask as well at some point.

BecoSwap

Next on the list, we’ve got BecoSwap. This is another decentralized exchange, but they’ve got way more than that as well.

Yield Farming

In addition to the usual swapping and adding liquidity, you can also yield farm and earn their BECO token.

At the moment, there are 13 different farms on BecoSwap, with APR’s as high as 208%.

Staking Pools

If you’re not into yield farming, there are also staking pools on BecoSwap.

You can stake their BECO token and earn 53% APY if you use the auto-compounding pool.

There is also the manual staking pool where you can 43% APR.

NFT Pools

If you’re familiar at all with WAX Blockchain, then you’re most likely familiar with the concept of staking NFTs.

BecoSwap has this on their platform as well. If you stake certain NFTs in their NFT pools, you can earn yield in the form of their BECO token.

I’m unsure of the current reward amounts, since it doesn’t give an exact number on the site, and I didn’t really feel like buying another NFT to find out.

NFT Marketplace

Not only can you stake NFTs on BecoSwap, but you can buy and sell them too.

They have their own NFT Marketplace where users can list their NFTs for sale and get paid in KAI tokens.

It doesn’t seem to have a ton of traction just yet, but it’s still pretty cool to see all these things build on Kardiachain.

Launchpad

BecoSwap also has a launchpad, where new projects can hold IFO’s (Initial Farm Offerings).

They’ve already held 7 different IFO’s.

Investors can pay in KAI-BECO LP tokens. The KAI goes to the project doing the sale, and the BECO gets burned and removed from the supply.

Defily

The next dApp on our list is Defily.

This is another yield farming and staking platform with a really sleek UI.

I won’t go too much into detail on this since we’ve already covered some yield farming stuff, but I wanted to mention them since I like the platform.

They also have their own token called DFL, which you can use for staking and farming.

Defily also has their own IDO launchpad, and a play to earn game called Dragon Wars.

The game is based on NFTs, and has its own token called DRAGON.

To be honest, the Dragon Wars game probably deserves more attention in this article than I’m giving it. I’m just not really a big gamer and don’t really understand half of this stuff, so I’m probably not the best person to be reviewing a video game.

I definitely think you should check it out though, if you’re into that sort of thing.

My DeFi Pet

Here we have another NFT-based play-to-earn game.

MyDefiPet is backed by huge companies like Animoca Brands, Okx exchange’s venture capital branch, and Kardiachain’s venture capital division.

The game can be played on either Kardiachain, or Binance Smart Chain.

MyDefiPet also has its own token called DPET, which can be used in the game for many different things.

They also have an NFT marketplace where you can buy and sell your game assets.

This seems to be one of the most promising dApps on Kardiachain, but again, this is not my area of expertise. So I’ll keep this brief and let you decide whether to look into it further or not.

Kaimond

Next up on the dApp list, we’ve got Kaimond.

Kaimond is the dApp where Kardiachain holders can earn loyalty rewards by staking their KAI.

These rewards include things like:

Staking your KAI on Kaimond basically makes you part of an exclusive club where you get treated like royalty. You also earn a “weak hand tax” from people who unstake their tokens.

Kephi

Kephi is an NFT marketplace. Out of the few that I looked at on Kardiachain, this one seemed to have the best UI in my opinion. If I was going to drop NFTs on Kardiachain (maybe I will), I would probably use Kephi to do it.

They also have a cool little RNG betting game where you can bet their KPHI token and gamble on whether or not the result will be higher or lower than a certain number. You can also bet with the KAI token instead, if you prefer.

Thetan Arena

Thetan Arena is an e-sports play-to-earn game with 23 million players.

You can earn NFTs by playing the game, and sell them for Thetan Arena’s native token, THG.

THG is available on Kardiachain and Binance Smart Chain, and has a market cap of $350M. Which is over 3x the market cap of Kardiachain.

There are literally dozens more dapps on Kardiachain, but I can’t cover them all in this article. Feel free to check out DappRadar, although they don’t have anywhere near a complete list of all the Kardiachain dApps.

Team

Now let’s take a quick look at the team before we wrap things up.

Huy Nguyen (Co-Founder And CEO)

The co-founder and CEO of Kardiachain spent 10 years working at Google, prior to his work at Kardiachain.

Before that, he worked at Cisco for 2 years as a software engineer.

He graduated from Berkeley, where he did some work with surgical robotics and helped implement an API to control the robot’s movements.

Tri Pham (President And Co-Founder)

Prior to founding Kardiachain, Tri Pham spent 3 years leading an R&D team at appFluke.

While he was there, he worked on integrating cutting-edge technology into consumer products. This includes things like augmented reality features, voice-recognition etc.

Before that, he helped manage a $3M fund for Know One, Teach One.

Johnny Tri Dung (CBO)

Johnny is the Chief Business Officer of Kardiachain, and also is currently the CMO of Thetan Arena, which I mentioned above.

Prior to this, he spent a year as the Chief Growth Officer at Galaxy Play, and 5 years as the COO and Co-Founder of BIG CAT Entertainment Group, where he was able to get the original team an exit deal after the first year.

Xno Bui (Chief Creative Officer)

Prior to her work at Kardiachain, Xno Bui worked as a Creative Director, an entrepreneur with a designer brand called Afternoon Tea, and an interior designer.

She also went to the British School Of Fashion, where she got a masters degree for Luxury Brand Management.

Luu Tran (CTO)

Before Kardiachain, the CTO spent 3.5 years as the Director Of Information Technology at Investip.

Prior to that, he spent over 4 years as a freelance software developer, and 1.5 years as a technician and team lead manager for FPT Software.

Bobby Pham (CMO)

Bobby is actually a recent hire, in February 2022. Which is good, because one of the main criticisms I’ve heard from the community is that the team doesn’t do too much marketing.

Bobby owns a company called Boba Digital, which focuses on helping other companies build their SEO.

Prior to that, he’s basically specialized in SEO forever… for companies like NameCheap, AFFcelerator, and IntraPromote.

Thao Dang (Head Of Business Development)

Before coming to Kardiachain, Thao worked as a Technical Business Analyst, Business Development Manager, Customer Service Lead, Head Of Marketing, Graphic Designer, etc.

She graduated with a Bachelor’s in Economics, from Vietnam National University.

Conclusion

That’s my review of Kardiachain. Overall, I’d say it’s a pretty solid project with a sound plan, but plans aren’t everything and we need to see how this plays out.

I love the fact that there are so many dApps built on Kardia already, it really shows the rate of adoption.

There are a few things they can improve- like fixing a little issue with the browser extension wallet, and cleaning up some broken links on their website.

But those aren’t huge issues and I’m sure they will be handled eventually.

I see a lot of potential in Kardiachain. The dual node system sounds great in theory, and so far in practice… but I’d like to see how it does with more chains integrated, and how it runs when it’s really stress tested.

How do you guys feel about this one? Are you bullish? Drop a comment on the video and let me know.

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See you guys next time, peace out.