KNG exchange rate

The KNG token is a representative of this very category.

KNG token – what is it?

It is a utility token of the Kanga exchange, which is a multichain token available on both Ethereum and the Polygon network. It is used to settle operations on the exchange, although it is not just about the transactions that investors perform.

The Kangi ecosystem creates a number of services, among them:

• exchange of cryptocurrencies in fixed exchange offices,
• a staking platform,
• Kanga Pay payment gateway,
• launchpad,
• Kanga Loan cryptocurrency loans.

You do not pay for using the staking platform. On the other hand, for the other services you are charged just for KNG. This is the only means of payment that Kanga accepts. The token is therefore of great importance to the user.

This does not mean, however, that every customer must buy a KNG before using the service of his choice. When he performs an operation, the charge is taken from his account in the currency of his choice, and then automatically exchanged for KNG.

How much does 1 KNG cost? Kanga coin exchange rate

As for KNG, the rate on the KNG/USDT pair currently stands at USDT 1.78, and for the KNG/oPLN pair the KNG rate is PLN 6.96.

Looking at the token’s situation, it is worth noting its spectacular growth. On September 30, 2021, the price reached an all-time high (ATH). At that time, 1 token cost $35.97 USDT. It is very possible that such a scenario will be repeated in the future, and KNG will set another, even higher peak. 

The KNG price also hit its lowest level in 2022. On July 5, 2022, 1 token cost USDT 0.93, and this is currently the cryptocurrency’s all-time low.

KNG is characterized by volatility typical of any cryptocurrency. However, the price of the token remains relatively stable in the neighborhood of $4-3 USDT.

Source: https://trade.kanga.exchange/market/KNG-USDT

We encourage you to check current technical analysis before making investment decisions. 

The beginnings of the KNG token

On November 11, 2019, the official part of the IEO Kanga Exchange began. Prior to that, during several rounds, investors were able to buy the KNG token and shares in the project’s parent company.

The funds raised in the last IEO round held in November 2022 were used to carry out a buy-back, that is, to buy back some of the tokens. Some of the tokens were earmarked for staking, which provided stakers with additional rewards. The rest were burned, in order to provide KNG with a deflationary character.

A total of $1,129,545 was set aside for the 2022 buyback. The bought-back tokens were earmarked for staking and burning, i.e. removing them from the market. This resulted in reduced supply and increased demand, according to the laws of economics. Limited supply is supposed to prevent loss of value.

Kanga bought 357,780.0582 KNG, of which it burned 178890.02911225 KNG. For staking, it allocated the rest of the tokens it bought – 178890.02911224 KNG.

In addition, a year after the 2022 round, the exchange decided to limit the release of more tokens from IEO over time, spreading the whole process over several years. As a result, all the KNGs did not hit the market at the same time, in order to eliminate the phenomena of dumping, i.e. a sudden drop in price caused by massive sales.

However, despite the release of supply from IEO, the price of KNG has not seen significant drops, and has even increased. Staking KNG, on the other hand, generates more KNG than was the case during buying.

Where can you buy the Kanga Exchange token?

The market opened on March 1, 2021, and since then investors can buy and sell KNG token. This was the first market – KNG/oPLN. In September 2021, a market to BTC and ETH was also opened.

Currently, the token is available on the Kanga exchange in pairs to oPLN and USDT. It also appears on Uniswap for the Ethereum and Polygon networks. Interestingly, Kanga was the second exchange in the world to complete integration with the Polygon POS network.

KNG token technology

The KNG token is an exchange token in the ERC-20 standard. Its value is based on the law of supply and demand, which determines liquidity.

KNG is purchased not only by customers, but also by the exchange itself through an automatic converter. It then transfers these tokens to staking and thus becomes a partial participant in the pool.

The KNG token as a utility token:

• is a means of payment for Kangi services,
• is used to conduct transactions on the exchange (commissions are converted to KNG),
• allows KNG holders to pay lower commissions for transactions,
• allows priority access to IEO projects on the Kanga exchange.

KNG has a limited supply – the total supply is 21 million tokens, and the number of tokens in circulation fluctuates due to burning.

In 2024, another round of token burning began. A total of 478,874.46682294 tokens have been burned since the day KNG was established.

In addition, the fact that it is a utility token and performs an important function in the ecosystem of Kanga services makes its situation stable despite the ups and downs of its price. Fluctuations in value are a normal phenomenon in the world of cryptocurrencies and are due to the laws of supply and demand. If the demand for the token is lower at any given time, the price of KNG may fall.

KNG token and its functionalities

Staking provides liquidity in the KNG market. It consists in the fact that people who hold tokens deposit them in an account created for this purpose and freeze them for a certain period of time.

The auto-supply system built into the staking platform further augments the daily reward with a bonus that increases each day.

In addition, people who stak KNG have lower rates when conducting transactions on the Kanga exchange. The maker, i.e. the person whose order goes into the orderbook, deposits a certain amount of KNG for staking.

What are the features of the KNG token?

Features of the KNG token:

• limited supply in advance, which distinguishes KNG from many other tokens and from all exchange tokens,
• guaranteed demand due to the constant exchange buying generated by the revenue,
• conversion of all fees to KNG.

Advantages and benefits of owning a KNG token

• the ability to make money from trading thanks to the existence of the popular KNG/USDT market,
• the ability to invest and earn passive income through the staking platform,
• even more profit thanks to the auto-supply function,
• easier settlement of financial transactions and lower commissions on the Kanga exchange (provided you freeze your tokens in POS and meet several criteria),
• priority participation in IEO Kanga (so-called auction packages),
• quick option to cash in tokens (you exchange KNG for PLN stablecoin oPLN, and then withdraw cash at the Kanga exchange office).

Exchange tokens the future of the crypto market?

Kanga token as an exchange token has a wide range of applications. It is used to settle operations on the exchange – not only transactions, but also activities related to staking, cryptocurrency loans or exchange of virtual currencies at the exchange. The entire ecosystem is based on Kanga coin, and the community is actively using it.

However, KNG differs from tokens of other exchanges, which usually work the same way: they provide a discount on transaction fees, but have unlimited supply. Kanga coin is characterized by a predetermined supply, which means that in case of high interest and lack of sellers, the theoretical value of the token is not limited by anything. 

In addition, all proceeds are used to buy back KNG. This works in such a way that if there were only one seller on the market who set the price of the token at $1 million, it would be slowly bought up.

There doesn’t have to be a willing buyer of KNG for that amount. Tokenomics, however, is based on the user buying BTC on Kanga, paying with a Kanga card, using exchange services or Kanga Loan. The repurchaser will take the funds and spend them to buy KNG for $1 million.

Kanga Exchange token is an exchange token. This means that one of the risks in this case is the potential lack of use. The more activity on the exchange and the more functions the token has, the greater the demand for it. If, on the other hand, the exchange ceases to give the token relevance, its utility would decrease and thus it would lose value.

Any cryptocurrency investment involves risk – regardless of the purpose of the token. The market for virtual currencies is volatile, and that’s where the biggest challenges investors can face come from.

New tokenomics – KNG 2.0

A new tokenomics, also called KNG.2.0, was announced in December 2023, and according to it, changes related to the KNG token itself, as well as the operation of the exchange and the entire Kangi ecosystem, will be implemented throughout 2024.

According to the assumptions, by the end of 2024:

• the way the autobonus for KNG stakers will be calculated will change: it will be available when a minimum of KNG 100 is deposited and will increment for the first 200 days by 0.5%, the next 200 days by 0.25%, the next 200 days by 0.125% (solution implemented),
• the commission paid in KNG will decrease by 25%,
• there will be a Kanga VIP program with facilities for users staking a certain number of tokens and in the form of a monthly subscription,
• KNG will hit the CEX exchanges,
• cryptocurrency loans for pledging KNG on KangaLoan will be launched,
• one million KNG tokens will be burned to reduce supply and strengthen the exchange rate (token burning is in progress).

For more news on the entire Kanga ecosystem, follow this link.

FAQ — KNG exchange rate