What is Kolion (KLN) – Crypto Beginner’s Guide

Kolion is a crowdfunding project focused on farmer cooperatives. Cryptocurrencies were accepted during the crowdsale. The funds were used to develop local ecotourism and agribusiness. Organic products and vacations in Kolionovo are two incentives in the loyalty program. Special prices for items is another perk for users. Participants bought Kolion tokens (KLN) during the crowdsale. These tokens were created on the WAVES blockchain platform.

During the ICO (April 2017), the maximum token production level was set at one million KLN. One KLN token was valued at 1 USD. Several cryptocurrencies were accepted as payment including BTC, LTC, ETH, ETC, WAVES, and EMC. Awards are given monthly, and the amount is dependent on the balance of the WAVES digital wallet. This amount will be at least 10% of the wallet balance. Discounts for items can reach 100%.

Token holders became loyalty program members. The tokens are used to identify users. Funds from the crowdsale were used for the following expenses:

50% – Goods and services
20% – Repair and recovery costs for real estate
20% – PR for ecotourism and arranging public events
10% – Supervising costs and insurance

The discounts are dependent on the wallet balance. The rates are listed here:

2% – 100-500 KLN
5% – 500-1,000 KLN
10% – 1,000+ KLN

Here’s a list of the products and services offered to users:

● Food basket
● Event arranging
● Kolionovo vacation rental
● Sauna service
● Fishing trip planning/arranging (includes fireside dinner)
● Ecotour weekend trip
● 2-day workshop planning/arranging
● Corporate event planning

Trading KLN Tokens

KLN tokens are traded on one exchange – Tidex. KLN tokens are paired with WAVES and BTC tokens. KLN has a market capitalization of $585,000. Daily trading volume exceeds $7,600. The circulating supply is 700,524 KLN. The total supply is 1 million KLN.

What is Kolion (KLN)
KLN Trading Data – CoinMarketCap

Proof-of-Work Algorithm

KLN Tokens are generated through a Proof-of-Work mechanism. This type of consensus requires the requester to perform some type of task to ensure that it is a legitimate connection instead of spam. Usually, computer processing is offered to verify the request.
There is a block explorer. It lets users view transactions.

Background Info on Kolion (KLN)

KLN is one of the Russian-based cryptocurrencies. The trend in Russia is to form a legislative framework for cryptocurrencies. In fact, early this year, the Russian Ministry of Finance submitted proposals to regulate cryptocurrencies. The Bank of Russia doesn’t approve of cryptocurrencies. In 2017, the Bank of Russia blocked Internet access to exchanges. The Russian Deputy Finance Minister called Bitcoin a pyramid scheme.

There are signs that Russia’s view of cryptocurrencies is changing. Regulated trading of cryptocurrencies will likely be as common as stock trading. One possibility is that only accredited investors will be allowed to purchase cryptocurrencies. These are individuals of a certain net worth. Since the investment is risky, only individuals with the ability to make money are allowed to invest.

Ethereum is the second most valuable cryptocurrency in the world. It is a Russia-based cryptocurrency. Now, Kolion is ready to make its way to the top of the encrypted digital currency market. Currently, it is ranked 931.

There are signs that Russia’s view of cryptocurrencies is changing. Regulated trading of cryptocurrencies will likely be as common as stock trading. One possibility is that only accredited investors will be allowed to purchase cryptocurrencies. These are individuals of a certain net worth. Since the investment is risky, only individuals with the ability to make money are allowed to invest.

Ethereum is the second most valuable cryptocurrency in the world. It is a Russia-based cryptocurrency. Now, Kolion is ready to make its way to the top of the encrypted digital currency market. Currently, it is ranked 931.

What is Kolion (KLN)?
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