We are pleased to announce a one time KNK token burn of 180 million tokens. This burn will reduce the supply from 200mm to 20mm.
This is an enormous step for Kineko and all its existing and future supporters as it clearly defines the economics of the KNK token.
Our decision to burn 90% of our current supply comes from the realization that a crypto ecosystem can only thrive and survive with clean and transparent tokenomics. We have looked at many successful (and unsuccessful) crypto projects and developed a distribution that is tailor-made for the Kineko project and suits our Promise Of Deflation.
The circulating supply is completely held in the hand of public investors. We expect this supply to continue to shrink as we buyback the KNK token every month.
In order to drive the Kineko platform development to its full capabilities, we have decided to incentivize the current and future Kineko Team with an allocation of 2M tokens (10% of total supply). These tokens will not unlock for at least 2 years and will then unlock every month over a 2 year period. We believe this will enable KNK to recruit, hire and retain the best talent in the crypto space.
Strategic Reserves 🔒
The Strategic Reserves allocation will be used for future potential partnerships that will improve and grow the Kineko platform. The Kineko team currently has no plans to issue these tokens, but believes it is important to maintain the flexibility in the event the team comes across opportunities that will enhance the Kineko platform to the benefit of all stakeholders. We expect any tokens issued from the Strategic Reserves for partnerships to have token lockups of at least 3 years.
Promise Of Deflation 🤝
It is utterly important for us to preserve the deflationary character of the KNK token. Therefore, we are making it our guiding principle that we never – at any point in time – emit more tokens than we burn through our Kineko Buyback Program. This will make the KNK token an unmatched crypto asset that any investor will feel more than comfortable to hold and stake.