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Utilization of the Ethereum Network

The KLT token is emitted on the Ethereum blockchain network and complies with the ERC20 token standard.

For the KELTA project and for token holders, the KLT smart contract guarantees:

Transparency in terms of:

  • Balance: The information on the number of tokens held by any user is public.
  • Transfers: All information on transfers is public and can be traced back in time.

Compliance with rules of token ownership:

  • Scope: Only Ethereum users and contracts can be token holders or take the role of token holder.
  • Uniqueness: Each token belongs to one user-owner. There are no shared tokens.
  • Right to transfer: A token can be transferred to another user only by the direct command of its owner or by the command of the receiver directly authorized by the owner. No token transfer may be initiated by another user.

A unified token supply:

  • Exclusive issue: Only one user, the contract owner, can issue tokens.

Secure contract Management:

  • Replacement: The contract owner can relinquish the ownership in favor of any other Ethereum user or contract.
  • Blockade: The contract owner can stop or resume token transfers between token holders at any time.

Additional guarantees:

  • Recovery: Any call to the contract which results in an error does not change the users’ tokens or Ether balance, except for the gas spent on the transaction.
  • Limits: Maximum allowed tokens in circulation and may be set and are limited to.

The KLT smart contract does not guarantee the following (“Uncertainty Provisions”):

User validity:

  • An account with positive token balance may or may not be a real Ethereum user or contract and therefore may not have a private key. Tokens transferred to such users will likely be lost.

Ether supply:

  • The contract prohibits most, but not all means by which Ether could be sent to it by users who are not contract owners.

The KELTA team engages independent auditors - prominent in the industry - to review the smart contract code line by line, checking for any security breaches, misuses of incentivization, or other concerns regarding the attack surface.

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