Auction packages – guaranteed participation of auction winners in IEO on Kanga Exchange
As part of the sale of tokens on the IEO, the owner (issuer) of a given IEO has the right to make some (of the entire pool) of tokens available for sale in a given listing for auction, e.g. the pool of a given IEO is 1,200,000 tokens, and some of them (amount depending on the issuer), for example, 300,000 are allocated to the auction, thus ensuring 100% user participation in this IEO.
The winners of each such bidding gain certain participation in the purchase of tokens in a number equal to the number included in the bidding package.
Who can bid?
Users who have KNG on Kanga’s wallets or KNG hodlers (staking users) or those who meet both of these conditions at once (they will be given before each IEO and may differ in each of them) can bid for packages before IEO.
The packet for KNG hodlers is marked with a special POS sticker.
What conditions do you have to meet to be able to bid?
- You must have KNG on your Kanga Exchange wallet in an amount not less than the offer you made to buy the package.
However, this amount does not guarantee that you will win the package.
- You must also have the base currency in the IEO on the wallet that is equal to or higher than the price of the selected package you want to bid, e.g. USDT.
- If the condition for taking part in the auction is having funds at staking KNG at the appropriate Autobonus level and with a certain level of collected prizes, you will also have to meet this condition, e.g. 3% in Autobonus and the total number of prizes from the last 30 days at the KNG level 1.
The conditions to be met are located in the upper right corner of each package. To be able to read them, move the cursor over the “I” symbol.
If you do not meet any of the conditions, you will be automatically notified when you try to click the “bid” button.
Step-by-step bidding of packages
- Go to trade.kanga.exchange and log in.
- Click on the IEO tab and select the purchase you are interested in.
- Below the IEO view, at a specified time before the start of the presale, bidding packages will be placed and after winning them you will receive a guaranteed participation in the IEO – the system will buy for you the selected number of tokens that you have bid in the selected auction.
- Package bidding.
You can bid using the KNG token that you have on your wallet.
How much you allocate to bid for the package depends only on you, but it cannot be lower than 0.01KNG.
You can raise each package many times, but always by more than you gave earlier (at least 0.01 KNG), in which case the original amount of the token allocated to the auction and the difference of KNG between subsequent raises will be blocked on your wallet.
You can bid on all packages, but ultimately only win one – the highest. After losing the auction, the funds are automatically returned to your account.
Winning a bid does not take away your right to participate in the official IEO round. You can still buy tokens, but in the amount that is the difference between the packages auctioned and the maximum purchase, e.g. if you can purchase a total of 3,000 tokens during IEO, and you have bid 2000, then after starting in IEO you acquire the right to buy 1000 tokens.