It’s safe to say that August was far from a quiet summer month! Our team was hard at work and as we sit here today, we could not be happier with the progress that was made. From releasing a new token, to rolling out our brand new bonus engine with countless new promos and bonus offers for our existing and to-be players. We are excited to see the benefits of our hard work over the upcoming weeks.
Starting things off with an update on the operations of the business. Whilst June and July were quiet sports/Esports months - we roared back in August. The return of major football – English Premier League, Bundesliga, and LaLiga in particular drove us back to great volumes and impressive profits for the month. See below for a breakdown of our monthly betting profits from Kineko.com.
- Sportsbook: $308,904.33
- Casino: $19,780.82
- Total: $328,685.15
To illustrate the growth in our platform, August 2021 total profits were $132,629. Year-over-year growth in profits of 147.82%.
And, yes, like every month, that $328,685.15 profit enables us to buyback $108,466.10 KNK in September. That is on top of the 626.696 KNK that we bought back in August.
Given that we released the new token in August, we thought this would be a good time to outline the utility of $KNK, and why we think it warrants an extra few minutes of attention this month.
So, what is $KNK and why buy it?
Owning $KNK enables you to take advantage of the success of Kineko.com. As of September 1, 2022, there are 11,7M coins outstanding. Going forward, the circulating coin count should not increase and will be decreasing every month – there will be no more vesting, and the only dilution would come from potential liquidity pool rewards, staking rewards, or if we were to bring in a strategic investor.
$KNK is currently trading at $0.08, for a total market capitalization of $1M. That means that we will generate the entire market cap of the coin in 3 months, before factoring in the expected growth in users/betting volumes/profits.
Why buy $KNK?
This is your opportunity to Be The House
- You lose $100 backing your team? You can sleep easier at night knowing that you own a portion of the house by owning $KNK.
- 33.33% of all profits are used to buy back $KNK in the open market.
- Our $328,685.15 profit in August results in a $108,466.10 buyback. Not bad for a coin with a $1M market cap!
- Kineko ($KNK) is hugely deflationary.
- There are only 11.7M coins circulating at the time of publishing of this article. Check back every month and watch that number decline as our buybacks continue to ramp up.
- Kineko is growing despite crypto prices trading down materially in the past 12 months.
- Volumes that we report are based in crypto prices at that time. Volumes denominated in SOL, ETH and BTC have grown materially over the past year.
What is ahead for $KNK?
The last few months have been extremely exciting as we have continued to grow the platform into what it is today. But we are not taking our foot off the gas pedal. Instead, we are just getting going! Over the remainder of the year, you can expect:
- Staking – Incremental rewards for our long-term investors.
- Marketing – The word that most of you want to hear. We have hired a media agency who are helping us bring on additional users. We look forward to reporting more on this in future months
- VIP program rollout – Rewarding our loyal customers for choosing/sticking with Kineko.
- Increased assortment of casino games – Countless new providers and thousands of new games.
- Liquidity – We’ll look to increase the liquidity of $KNK over the next 6 months.
As always, we are incredibly grateful to our Kineko community! We encourage everyone to join us on Discord (link) and follow us on Twitter (link). We are always open to suggestions/feedback from the community. In Kineko we trust.