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Do you recommend upgrading to K5, or should we be

fine keeping it at K3?

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You have K4, not K3. No, I don’t recommend using an deprecated app like Klever K4. Klever also says you should move to K5. K4 is also not working anymore, you can not fetch prices and you can not nominate a new validator also its probably has many security vulnerabilities since it is a deprecated app.

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