What Is Kryptomon (KMON)?
Kryptomon is an NFT Play-and-Earn blockchain game, where Pokémon meets Tamagotchi and Crypto Kitties. Set in the metaverse, community members play as ‘Trainers’ of their own individual monsters. Help Professor Koa and his team of scientists discover the mysteries of mon and earn $KMON. Complete daily and weekly quests alongside pairing your Krypto with another to mint brand new NFTs. Experience the Krypto in real life.
Every month, the walls between Earth and the Kryptomon overlap, allowing trainers to get out of the house and hunt for in-game loot boxes, $KMON and even Krypto eggs. On the 1st of May 2021, Krypto NFT eggs were discovered on an unmarked island that disappeared soon after. Having now evolved into young adults, Eva has discovered some mons beginning to breed amongst themselves.
Kryptomon Storage Key Points
|Circulating Supply||189,843,488.45 KMON|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Financial operators and service providers must maintain and stake/deposit a certain amount of EVERY tokens to earn the right to operate on the Kryptomon network. This grants access to the Every Net execution engine as well as its interoperability to the banking, regulatory, reputation (credit rating) infrastructures required to provide services to their customers. Increases in the participation of the operators and service providers on the network will be constructive to the price of EVRY tokens.
Gases for transactions
Kryptomon tokens is also the fuel for the network. The gas fee is designed to reimburse the EvryNet network for the cost of transactions incurred on a per-transaction basis, as well as to prevent malicious attacks on the network. In the case if EVRY tokens are priced too high (when token price rises), the value of the gas fee will adjust back to the level required to sustain the network’s competitiveness. The increase in the usage of the network on a per-transaction basis will cause an increase in the price of the token. This market-based
mechanism will allow the gas value to be adjusted according to the demand of the network usage.
As part of a contract’s specification, contract composers can specify and limit the amount of gas used in the execution and the qualifications of nodes that can execute the contract. The number of execution steps can also be derived from the content of the contract. Before execution, different providers can offer a range of fees for the contract. The EvryNet network can then match the transaction with the service provider whose fee is within the limit specified in the contract. After the completion of each operation of the contract, the transaction fee can then be transferred to the chosen provider.
The individual users and entities that are important constructs of the EvryNet ecosystem, are rewarded and incentivized with Kryptomon tokens for sharing their financial data to the EvryNet network. The financial data is an essential part of the EvryNet reputation functions that help construct the EvryNet’s proprietary credit rating capacity. The EvryNet reputation network is an important tool for financial operators and service providers to gain access to an optimal risk-adjusted return environment when they issue financial products (i.e. loans underwriting, insurances, hire purchase products) to their customers.
Credit rating enhancement tools
Credit rating enhancement is a mechanism whereby the participants of the Kryptomon network attempt to improve their debt or credit worthiness required to perform a certain transaction, i.e. auction, project bidding, or to obtain better terms for a certain transaction, i.e. interest rate on loan, debt issuance. Through credit rating enhancement, there is reassurance that the counter party of a transaction will honor its obligation through additional collateral, insurance, or a third-party guarantee provided.
Kryptomon tokens are used to drive the adoption and provide incentives for participants on the EvryNet network. Figure 3 shows the interaction among EvryNet network components and how EVRY tokens are utilized in each steps of a smart contract execution. EvryNet App must deposit a certain amount of EVRY tokens in order to initiate an execution of a smart contract. A portion of the deposited EVRY tokens will be used as gas, which will be distributed to all relevant parties who contribute to the smart contract execution. The other portion of the deposited tokens will be considered as stake.