112 days ago • cryptodaily
KNG token IEO, historic campaign by Kanga Exchange
Kanga Exchange is a multifunctional cryptocurrency platform. The core product of the exchange is the spot market, where you can find some of the most popular cryptocurrencies, features and a launchpad.
Now, Kanga is going a step further by organizing a spectacular IEO. Exchange plans to raise at least $1 million and conduct a historic buy back of KNG exchange tokens.
Kanga Exchange - future of the European market (H2)
Polish cryptocurrency exchange stands out on the European market by offering innovative solutions for the blockchain industry. It is a quickly expanding system of FinTech products and services with the objective of enabling the adoption of cryptocurrencies in day-to-day life.
Kanga Exchange founders have a long list of accomplishments in the FinTech sector. Cryptocurrency exchange and KNG token are their newest inventions. KNG creators have scheduled a number of significant events for their token in the near future.
Maximum quantity of the KNG token is 21 million units, which coincides with the supply limit of Bitcoin. KNG, like many of the well-known exchange tokens including BNB, CRO and KCS, is also a utility token, bringing many functionalities to the community.
Most valuable features (H2)
Without a doubt, exchange points are Kanga's most significant product. Kanga is the market leader with over 350 locations throughout Europe and beyond. Founders like to emphasize that Poland, Czech Republic, and the United Arab Emirates are just the beginning of their expansion. Kanga has also prepared Kanga Local as an additional cryptocurrency exchange option.
With Kanga's peer-to-peer system, which features over 300 real people - Locals, anyone wishing to purchase cryptocurrencies may do so with ease. There are various nations where Kanga Locals can be found, including Poland, Germany, Bulgaria, Norway, Sweden, and more. Visiting this page is the simplest way to contact the nearest Locals.
On Kanga Exchange you will find many functionalities. The most important of all is the Launchpad, where users can find the latest public sales, private sales and Initial NFT Offerings (INO). It is worth mentioning that KNG has a unique staking system, as it has a special autotransfer, so that the daily rewards for staking are increased by a bonus that grows every day. The second of the functionalities is staking where the community will find the opportunity to earn passive income on tokens and stablecoins. In addition to the aforementioned, Kanga also includes features such as Dust Sweep and SWAP, which make users' lives much easier.
KNG token IEO (H2)
Founders of Kanga have planned a lot for the end of November. These events will be monumental for the European cryptocurrency exchange sector.
Special KNG token IEO will take place on November 29. Community of the project will be given a unique opportunity to purchase tokens. Developers also created the mechanism to prevent price of the token from being dumped.
Important aspect of this IEO is that the funds collected will not be used by the exchange for its own goals or technological development. The amount raised will fully benefit the community that rallies around the exchange and the KNG token. What will happen to the minimum of $1 million raised?
The result of this IEO will be a historic for the European cryptocurrency scene BUY BACK.
KNG tokens Buy Back (H2)
Kanga is the first in Europe to plan a historic buy back of its tokens worth at least $1 million. The entire buy back will be conducted openly and everyone will have the opportunity to watch it live.
On the exchange's website you will find a counter of bought back tokens and ten recent transactions. Creators are very committed to carrying out the action in full transparency.
Duration: 100 days
Staking Rewards (H2)
As a thank you to the exchange's supporters, the developers of Kanga Exchange plan to distribute half of the tokens collected during the buy back as staking rewards.
Holders of KNG tokens will classically receive KNG staking rewards (which are generated from all revenues of the exchange) but for a period of at least a hundred days, rewards will be higher by the daily amount of tokens bought back from the market.
It is worth noting that tokens will be bought back daily and half of the purchased tokens will immediately go into the pool for staking rewards.
KNG token burn (H2)
Exchange wanted its token to be deflationary for a long time. They decided that the ideal option would be to burn half of the bought back tokens. In this way, the project will reduce the number of tokens in circulation, which will directly affect the value of the tokens.
The amount of tokens that will be allocated for burning will depend on the market price of the KNG token at the time of the buy back. Creators plan to allocate a minimum of half a million dollars for this purpose.
As in the case of staking rewards, half of the tokens collected each day will immediately be burned.
KNG Priority Pass (H2)
Developers have prepared one more bonus for those staking KNG. Holders have the opportunity to take part in auctions before the IEO to guarantee the purchase of tokens at favorable conditions.
With this arrangement, KNG holders who are staking their tokens are rewarded for their loyalty to the project.
Auctions started on 26th of November with 6 available packages and will end an hour before actual IEO.
IEO details (H2)
IEO date: 29.11.2022 at 12:00 p.m. UTC
Max investment: 2000 KNG
KNG price: 50% of the market price from 26.11.
Cliff: Tokens will begin to be released after 365 days.
Vesting: Tokens will be released for 100 days, transferred directly to staking accounts of the buyers.
Token type: ERC20
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