Ki Foundation AMA with Crypto Society Recap on 29th April 2021 featuring Reda Berrehili
LB
Welcome @berrehili in our small and humble family community ❤️🙏
Bilo 2000
@berrehili It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.
Reda Berrehili
Hey @LBecks and @Bilo_2000 thank you for the warm welcome! 🙂
Happy to be here!
Bilo 2000
Could we begin with a brief history of yourself and your team, and your roles at Ki Foundation and what you were doing before Ki Foundation?
Reda Berrehili
Sure!
My name is Réda I’m the CEO and cofounder of the Ki foundation I am a serial tech entrepreneur, I have created many businesses in the tech industry many were quite successful. The last one was acquired in 2017, a company called Squarebreak, acquired by one of the largest hotel groups in the world. Basically what we did is that we made scalable a business that was not scalable thanks to technology. Property management is a huge that we were able to solve thanks to HOS, hospitality operating system.
This company was acquired for €25 million in August 2017 we had an amazing growth and it was quite a success ( https://www.ft.com/content/b96ff4c6-708a-11e7-93ff-99f383b09ff9 ). Afterwards I decided to create the Ki Foundation which is an organization based on one single asset value, the $XKI, used across all the businesses that Ki foundation will be launching.
Most of the team behind Ki was part of my previous businesses and I am very grateful for having such loyal people to work with!
One of the first businesses that we are launching is called Klub, a private wealth club for Henry’s and High Net worth Individuals that offers a core banking experience and an investment platform that offers them High Risk, High Yield investment products.
For those who want to follow me on LinkedIn, here is my profile: https://www.linkedin.com/in/berrehili 🙂
Bilo 2000
Great — Thanks for that.
Tell us Reda; How and where did you first encounter crypto?
Reda Berrehili
Actually, the first time I heard of bitcoin was in 2011 when Kevin Rose talked about it, I downloaded the client and tried mining for 1h without understanding what it was about. (By the way completely forgot about this until someone favorited my tweeted dated 2011 last year. 🤦♂️ )
But the day I really got into bitcoin was in 2013 when one of my mentors and investor told me more about it. I then bought my first BTCs and started to evangelize my friends around me.
2017 was the year everything shifted, after the acquisition of my company I started looking at decentralization and new models of capitalism; I am a huge promoter of stakeholder capitalism which lead me to go full crypto and create the Ki Foundation.
Bilo 2000
lol — I think everyone tried to be a miner at one point or another😂
How did Ki Foundation start?
Reda Berrehili
[ 😂 Sticker ]
Well, the idea of Ki Foundation and the way it was structured came from my experience after the acquisition of Squarebreak. We had created an amazing scalable business thanks to a business model that aligned the incentives of our operating partners (The Property Managers) and our company. We used to share 50% of our commission, this is what helped us grow 600% in one year of operations and then be acquired. After the acquisition, the CFO of the group saw that we were “giving away” 50% of our revenue, and then decided to start paying them by the hour. A few months after this decision was made, we lost 80% of our managers and destroyed a lot of value.
At that specific moment, I understood that capitalism was broken and had to be fixed with a new way of ownership. Which I call stakeholder capitalism. This is why Ki has no shareholders, the company is held 100% by the Ki Foundation, and us founders, investors, team, and customers only hold $XKI.
So all the value created is aligned with all the stakeholders of the Ki ecosystem, so all the decision taken can be long term decisions.
Bilo 2000
Awesome back story — Always love hearing about how the idea took form and shape
Can you tell us about why you thought Ki Foundation needed to be built and what problem it solves?
Reda Berrehili
I deeply believe that crypto and DeFi are real paradigm shift for the society. The problem is that many of the very talented and genius developers in this ecosystem do not think about how to make it understandable in the simple world of mere mortals.
This is why Ki Foundation needed to be built, creating a bridge between the traditional Centralized world and the Decentralized industry. This will bring more wealth in the DeFi space and bring more fairness in the traditional CeFi space.
Most of the businesses created by Ki will have real life businesses as underlying products.
Bilo 2000
That’s’ fantastic — We at Crypto society are very excited about this project as you well know❤️
Reda Berrehili
[ 😍 Sticker ]
Bilo 2000
As a follow up to the previous question and your answer; How would you describe Ki Foundation’s if you were talking to someone unfamiliar with digital assets?
Reda Berrehili
The Ki Foundation creates a set of financial products that lets you squeeze the leeches of the traditional finance world by benefiting of most of the yields generated by your capital o DeFi without needing to be a computer scientist 😉
Bilo 2000
Thanks — That’s very clear and concise. 👀
Can you tell us what Klub is and what it aims to achieve?
Reda Berrehili
So as you know, the first project of Ki Foundation’s ecosystem is Klub, the first private investment club where every single member joining, becomes an ecosystem stakeholder. Members buy and hold XKI, the foundation’s exclusive financial backbone asset.
Klub is helping high-earning individuals to spend, store and invest their capital. Membership is invite-only and grants access to core banking features coupled with high yield investment products. Klub offers a streamlined experience from banking to investing, in one simple click.
Bilo 2000
What are the different features offered by Klub and what’s the difference between the 3 different tiers?
Reda Berrehili
Actually, there are 4 different tiers, depending on the numbers of $XKI you hold:
- Premium+ 10.000 XKI
- Platinum 50.000 XKI
- Black 150.000 XKI
The last one which is not public
- Black Elite 500.000 XKI
The main value from being in higher tiers is to benefit from up to 98% commission discount on the yields generated on Klub and having the priority to put higher value tickets in the investment opportunities.
In addition to these elements of value there are some additional lifestyle perks that we offer with some service and concierge partners 😉
Bilo 2000
Oops — my bad — was a typo
Reda Berrehili
Haha no worries, actually we only advertise 3 tiers :p
Bilo 2000
😂
Will the Klub app be available for mobile devices?
Reda Berrehili
Yes and it already is!
On iOS:
https://apps.apple.com/am/app/klub/id1545143892
On Play Store:
https://play.google.com/store/apps/details?id=ki.foundation.klub&hl=en_US&gl=US
Bilo 2000
👀
Didn’t know that — That’s awesome
Reda Berrehil
Already live with 200 live members
and thousands in the waitlist
Already generated a few millions in volume and 800K€ in revenue 😉
Klub as a company is profitable
Bilo 2000
🚀🔥🚀
Can you explain to us Klub’s interaction with Coinbase, Binance, Kucoin and Bithumb? How does that all work?
Reda Berrehili
Well I think the biggest question is, how and why will Klub interact with those exchanges?
There are 2 answers to this:
Exchanges will be used to get the best liquidity in terms of crypto brokerage and offer the best prices to the members of Klub who want to acquire crypto.
Exchanges that list the $XKI will be used as a gateway for all the buybacks that will happen on behalf of the business generated. Those buybacks will either be done on behalf of people wanting to become Platinum, Black of Black Elite members, or on behalf of the Ki Foundation to burn the $XKI.
Bilo 2000
Thanks for the explanation Reda
Your Seed and first private sale rounds were a great success; Congratulations! When will the 2nd private sale be open? What is the process for those who wish to whitelist?
Reda Berrehili
Yes! Actually the 2nd private sale was closed we didn’t have the time to update the deck as it closed very fast. We will though soon be listing in both DEX and CEX.
We will soon announce where and you’ll be able to subscribe and participate to the sale 😉
Bilo 2000
Already closed?😢
Congratulations
Reda Berrehili
😅 sorry
Bilo 2000
[ sad face ]
What is the Ki Foundation token used for? Can you describe the Tokenomics?
Reda Berrehili
The $XKI usage can be classified in 2 parts:
1. Protocol usage
2. Business usage
On the protocol level:
The $XKI can be used to secure the network by staking as a validator or by delegating to a validator to secure the network. The incentive behind this is the ability to earn inflation rewards for each new minted blocks.
On the Business level:
The $XKI usage will be quasi infinite, the same way the $BNB is. The first usages is to benefit from better services and rewards by using your Klub card and by getting discounts on the commissions taken in the yields generated through Klub.
Many other usage are going to be developed in 2022, among them Insurance product, DeFi liquidity pools, Collateralized Borrowing, etc…
Bilo 2000
Very nice. Really happy to learn about the insurance product and borrowing
Can you let us know why you decided to build on Cosmos?
Reda Berrehili
We have benchmarked many chains and the top 3 has been deeply analyzed before making our choice. Here is a clear table on how we made our choice:
Bilo 2000
Nice work. Will definitely look into this table a little later. Thanks
Crypto society is a proud Ki Foundation node operator; Can you let our Audience know a little about staking and its advantages.
Reda Berrehili
Sure! And we are happy to have you on-board 😉
Staking on the Ki Chain lets holders earn inflation rewards from securing the chain. Currently it is around 12.5% inflation which leads to a 32% APY in commission to the delegators.
Bilo 2000
What are you currently working on and can you describe your future roadmap?
Reda Berrehili
Right now we are finalizing the integration of the core banking platform and working on the registration of the licence for crypto brokerage and custody.
We should go live with the whole v1.0 of the app with physical cards around September 2021.
Our roadmap on the Blockchain side is more related to protocol upgrades and connecting to IBC to benefit from the Gravity DEX.
We are also working on some smart contracts and interesting stuff of bridging tokens 😉
Bilo 2000
So excited to hear this. Can’t wait to see it all play out. 🥳🥳🥳
Could you please provide us with some challenges Ki Foundation has faced but overcome?
Reda Berrehili
I think the main challenge was to launch during a bear market, but it was the best experience ever. As we self-financed most of the initial developments.
We are very frugal and do not burn money in useless stuff. We built the product through pain, sweat and blood and right now we are harvesting the fruits of flawless execution on our end.
We were also facing the pandemic but overcame it quite easily and came out of it stronger
Bilo 2000
Congratulations on your perseverance and vision
Where do you see the Ki Foundation project next year?
Reda Berrehili
Our goal is to be one of the top 10 CMC projects in the next 12–18 months and become a reference for the traditional world wanting to have access to the benefits of the DeFi world.
We are aiming to launch 2 additional DeFi products used in real life:
- Decentralized Insurance Product
- Collateralized Lending
- Secret project
Bilo 2000
👀
Pssst DM pls
Reda Berrehili
😎
Hahahahaha
Bilo 2000
What do you look for in a strategic partner and can you tell us about other partnerships you are working on?
Reda Berrehili
Well the kid of strategic partners that we are looking for are multiple:
- Provide awareness to new communities
- Help us build new innovative investment products
- Educated the ecosystem about Ki and its main goals
We also have some future partners that are building tools around the Ki Chain, we’ll soon announce them when the products are out 😉
Bilo 2000
I know if this great group of guys called Crypto Society — They seem to fit the bill here. 😉
Reda Berrehili
🙌
Bilo 2000
🙌
Reda…I always ask during the AMA this next question…It’s very important
Reda Berrehili
Haha tell me
Bilo 2000
Makes me very happy if our guest obliges me
Makes me very sad if our guest doesn’t
Reda Berrehili
Oh I certainly don’t want you to be sad
[ 😂 Sticker ]
Bilo 2000
It doesn’t’ happen often that my guest doesn’t oblige… VERY, VERY rare…So here goes
Is there any exclusive breaking news about Ki Foundation that you could share with us here today?
Reda Berrehili
I do
Oh I thought it was gonna be another question
[ 😂 Sticker ]
hahahaha
Reda Berrehili
Well…
I don’t usually share news for the sake of sharing news….
But…Maybe…This time…I may make an exception
Bilo 2000
GIF : YESSSS!
Reda Berrehili
Because I am really happy and excited to share that…
We have finalized…
The tests for the wrapping of $XKI on Ethereum and soon BSC. You can see the testnet result here: https://bridge-test.blockchain.ki/
Bilo 2000
WUUUUT?
Reda Berrehili
In preparation of having the $XKI available on Ethereum 😉
But shhhhhhhh
Bilo 2000
🚀🚀🚀
Reda Berrehili
Keep it between us
Bilo 2000
Shhhhhhhh
ok 1,845 members??; Shhhhh
🤣
Reda Berrehili
😂
Bilo 2000
Thanks for obliging me Reda
Reda Berrehili
My pleasure
Bilo 2000
If not I would have had to send you the sad looking gifs
hahahaha
Reda Berrehili
I never resist to those GIFs
Bilo 2000
Do you wish to let us know anything else that was not covered in the questions above?
Reda Berrehili
Yes just if you guys have any other question that may not have been answered, feel free to join our Telegram channel @KiFoundation and or follow us on twitter Ki_Foundation 🙂
LB
❤️
Reda Berrehili
👀😍
Bilo 2000
With this, we will open up the chat for those who wish to personally thank you for your time with us here today.
Reda Berrehili
🙌
My pleasure!
Kartika❤❤,
There are 3 core problems that are prevalent in crypto and blockchain: Security, Interoperability and Scalability. How do you plan your Project to solve this problem?
Reda Berrehili
We are using Cosmos SDK which is a highly reputable, scalable and interoperable platform by design. We are quite comfortable with the quality of the ecosystem and teams behind 🙂
Daniel P
How to buy?
Reda Berrehili
We will do an announcement in 1 week that will explain how to! 🙂
Thank you for your great questions!
Sylwia Moongirl
When Moon @berrehili ?
Reda Berrehili
Moon is not enough, Pluto or Stars 😄
We’re aiming higher
LB
Check it out peops, huge community, huge project, huge team 👌
Long-term gem 💎
Relevant Links
⚜️ Ki Foundation Website : https://foundation.ki/en
⚜️ Ki Foundation Telegram: https://t.me/KiFoundation
⚜️ Ki Foundation Twitter: https://twitter.com/Ki_Foundation
⚜️ Crypto Society Twitter : https://twitter.com/cryptosocietytg
⚜️ Crypto Society Chat: https://t.me/cryptosocietyy
⚜️ Crypto Society Announcements: https://t.me/CryptoSocietyyy
