Unique KNG IEO on Kanga Exchange
Recently you might have found many announcements on our social media. So far, we have officially announced two special events. Which events are we talking about?
The IEO of our KNG token during which you will find a special offer to buy our tokens. The second event will be a spectacular and most importantly open buyback. We know that the upcoming period will be intense and full of detailed information. That is why we aggregate all data in this blog post and will update it after each news.
KNG token IEO
The IEO we will hold will be unique for a number of reasons. First of all, we are making it not to raise funds for the development of the exchange, but to conduct a buy back. No one in the European market has done such an action so far so Kanga will make history this way.
We have some details about IEO for you to remember:
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..
Max Investment: 2000 KNG
KNG tokens buyback – Starting 01.12, lasting 100 days
Kanga will make a historic buyback of KNG tokens for 1 million dollars. Buyback will be conducted with the money raised during the IEO. KNG will be bought from the market, openly and the transactions will be available for everyone to see. It will be possible to follow the buyback on our page where you will find a counter of tokens purchased and last transactions, which are going to be updated by refreshing the page. The action will be carried out by our bot, which you may already know from buying KNG tokens which are intended for KNG staking. Purchases will be made at random times for a random amount to preserve the full freedom of the market.
Amount of buyback: 1 million dollars
Duration: 100 days
What will happen with boughtback tokens?
After a buyback worth 1 million dollars, which will last a 100 days, purchased tokens will go to the right places, which ones?
We care about loyal Kanga supporters, especially those who hodl and stake their KNG tokens. For this reason, half of the boughtback tokens will be distributed back to the community in the form of KNG staking rewards. The value of the prizes that will be allocated will oscillate at half a million dollars.
For a long time we have been wondering how to make KNG a deflationary token. We got it! Half of the tokens collected during the KNG buyback will be burned. In this way we will reduce the supply of our tokens, by how much?
That we don’t know yet, everything depends on the price of KNG during the buyback. One thing we know for sure is that the value of the burned tokens will be half a million dollars.
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Author: Piotr Szopa