Let’s Guide You Through
Koii stands for Knowledgable, Open, and Infinite Internet. Koii is a protocol focused on infrastructure to bring true decentralization to all dApps in the Web3 space. Koii has a fully self-sustaining ecosystem driven by the KOII token.
Blockchain Platform: Ethereum
Registration year: 2021
Token standard: ERC-20
At the intersection of the creator economy, decentralized infrastructure, decentralized identity, and attention-based networks, lies the Koii Network. Powered by creators, developers, and the KOII token; the Koii network enables creators and NFT owners to earn attention rewards in the form of KOII tokens. This is accomplished using Koii’s novel Proof of Real Traffic Protocol (PoRT).
Koii is a decentralized blockchain service that runs Koii “Tasks”, which can be designed to interact with a myriad of blockchains and protocols such Avalanche, Ethereum, Filecoin, Near, Polygon, and Solana.
Koii’s protocol is rooted in two critical components: robust incentives and a scalable consensus. This is achieved by providing a suite of software tools and cryptographic value channels that allow anyone to build tokenized protocols and reward participants; not only by mining new blocks, but also by cultivating attention and reputation. This is achieved by the participation of a variety of actors in the Koii ecosystem, as seen below:
For a more detailed explanation of the workflow see the Koii Technical Paper and Lightpaper.
The Koii protocol is tailor-made for dApps that do not require fast transaction times, providing a superior solution to the expensive infrastructure of Ethereum and similar networks. Koii Nodes use energy efficiently by using Proof of Real Traffic (PoRT) to prevent spam, and a stake-based state transition model for more “gradual” consensus.
The gradual consensus mechanism uses Proof of Real Traffic (PoRT) and interfacing with the Arweave Permaweb for state storage. As a result, Koii can provide a massively scalable chain of signed data without a large node overhead.
Proof of Real Traffic (PoRT)
Koii’s Proof of Real Traffic algorithm makes it possible to verifiably and fairly distribute KOII tokens to the content registered on the network which gets the most attention.
While it’s possible to game any system, Koii has intentionally designed Proofs of Real Traffic (PoRT) to be very hard to subvert, and will dedicate a full team towards continued optimization of the technology going forward.
While Koii uses the Arweave as the main immutable data store, other blockchain networks are easily integrated to expand the possible applications and services. As an example, Arweave-based NFTs can be displayed and traded simply on other decentralized exchanges, and all Koii content is generated according to the same standard.
Koii refers to the network and its artifacts, which includes topics like the Koii Protocol, Koii Nodes and Koii Tasks. KOII refers to the token that runs the network. When you earn rewards, you earn KOII tokens from creating content or running a Koii node.
Every day, the network distributes KOII tokens to all the content that received attention (or was interacted with) in the previous 24 hour period. The amount of tokens a wallet receives depends on the proportion of attention its content receives compared to all of the attention in the network. Initially, the only way to “mine” KOII tokens is by making content that receives attention. You will earn KOII tokens proportional to the amount of attention your content earns every 24 hours. You can earn tokens by running a node, but those tokens are supplied by bounties from the Task creators, not the daily mint.
There will be a genesis supply of 10 billion tokens. After that, an additional 1 million KOII will be minted per day and distributed across the KOII network. You can only mine KOII by receiving Proofs of Real Traffic for content that you submit.
The Koii Network is governed by token holders through a decentralized smart contract system. The longer a token holder stakes, the larger their voting power, ensuring incentives remain aligned for the long term. As projects are built using Koii, they can also employ the same structure to build flexible, cost effective voting systems.
Staking and Rewards
The goal of the Network’s incentive model is to reward reliable participants. To ensure reliability, voting power is scaled to the time and amount staked. Whenever a Node is discovered breaking the rules, other Nodes vote to slash its stake, and receive a share of the slashed amount to incentivize their effort. Rewards are distributed proportionately to each Node’s voting power, which encourages participants to stake as much as possible.
You can get a few KOII tokens and a small amount of AR (to pay for the storage fee) from the KOII faucet. This will provide you with the tokens needed to get started on the network. You can also purchase additional AR tokens from several different exchanges.
Ready to Participate in Koii?
Koii distributes daily KOII rewards proportional to the verified attention generated by NFT creators, developers, artists, musicians, cinematographers, web designers, podcasters; really anyone who takes part in the attention economy. Each time content receives views, comments, likes, or follows, the creator (or owner) mines new KOII tokens. Koii uses the new Atomic NFT standard for all NFTs, which has a few critical features:
- The contract and media file are stored together on Arweave. This means you will never lose your file, you can’t be rug-pulled, and you’ll never find a broken link.
- All Atomic NFTs registered on Koii receive attention rewards.
- Easily transfer your NFT between blockchains.
- Making NFTs with Koii is fast, affordable, and easy with the Finnie Wallet.
Finnie is Koii’s browser extension wallet focused on NFTs and cross-chain bridging. Some features include:
- Drag & Drop NFT creation.
- Share NFTs to earn attention rewards.
- 1-click cross-chain bridging.
- Decentralized ID (DID) that links your cross-chain keys together.
- DID profile that includes personalized links to your pages.
- NFT gallery: See all your NFTs (from multiple chains/keys) in one place.
- Easy NFT collections.
If you’re a creator and would like to experience Koii, the easiest way is to download and install the Finnie wallet browser extension. From there you will be able to register and manage your content, mint an Atomic NFT, create a Decentralized Identity (Koii DID), manage your Arweave and Ethereum Keys, earn attention rewards, and send and receive KOII tokens.
Koii has bridges up and running from Arweave to Ethereum and Polygon, and are currently developing bridges to Avalanche, Filecoin, Near, and Solana; with more planned after that. Also, take a look into the many grants and opportunities Koii is currently offering.
Koii Nodes stake their tokens in order to participate in consensus activities (e.g. voting, slashing, and bundling) and to generate and store information to fulfill Koii Tasks. Node operators are compensated for reliably completing Koii Tasks and can be penalized (slashed) for misbehavior. Tasks run asynchronously and can include writing to one or many blockchains.
Koii is a rapidly growing protocol and we expect to see some huge announcements from the team in the coming months; including partnerships, protocol upgrades, hackathons, and dApp releases.
- Koii is Swimming With NEAR
- The Koii Grant Program Set for Launch
- Deploy your own crowdfunding portal in 10 minutes using Koii-X
- Build the Decentralized App of Your Dreams With Koii-X
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