Categories: Market

KILT Protocol launches Sporran wallet and skateboard staking platform

KILT Protocol (KILT) announced the launch of the Sporran and Skateboard. The team says that Sporran is a browser extension that acts as a wallet for KILT tokens, while Stakeboard is a staking platform.

Wallet and staking platform for KILT

In another exciting development for members of the Kusama Ecosystem (KSM), KILT Protocol – the winner of the Kusama Parachain auction – has started distributing their tokens. In addition, Sporran and Stakeboard wallets have also been implemented to enable the secure and smooth storage and staking out of digital assets.

“The Sporran wallet can be used to hold KILT and allow users to sign and send KILT blockchain transactions. And from the beginning of December, Sporran users will also be able to save logins and create digital identities – similar to the real world. Skateboard is a web application that allows you to interact directly with the KILT blockchain to set tokens. ”

KILT is a fully decentralized blockchain identity protocol for authentication, anonymous and verifiable credentials. On September 8th, it won the sixth auction of the Parachain lot in Kusama after being supported by over 8,000 crowdloan participants.

In particular, the team says the Sporran wallet, currently available as an extension for Google Chrome and Firefox, enables users to create and store identities, as well as manage and sign transactions with their identities.

Simply put, the Sporran wallet was designed to give users control of everything through their own data.

With stakeboard, KILT-Hodlers can use coins and earn well-deserved rewards. However, users must have a valid KILT identity (wallet address) with at least 1,001 KILT (1,000 for staking, 1 for paying transaction fees).

In addition, the team says that KILT stackers can earn up to 8% per year with their used coins (within the first year after the start) if their chosen matcher generates block successes. However, the annual percentage rate (APR) drops to 6% in the second year.

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Annie

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.