Kineko August Review
Firstly, the team at Kineko would like to thank our amazing community for assisting us and continuing to be great participants in this exciting project!
August was an interesting month in sports, considering it was the “summer break” we still had the Olympics, Premier League, ESL1 Dota and some UFC/Boxing events. But now everything is back, safe to say with the upcoming schedules in sports Kineko will rise to the occasion and continue to service the market in everyway possible.
At the beginning of August we also did our very first token burn where we burnt ≈270,000 KKO and reduced the circulating supply significantly. So at the end of September we will execute this again, so look out for that!
We will be rebalancing the rewards from our staking pools, KKO-ETH will be reduced by 4% and that will be redirected to the User Volume Pool. We believe with the success of the Volume Pool and the increase in players on the site this is the best decision for user retention. This will be adjusted at the time of publication.
In August we added the live games from Evolution, this added some of the big hits like Crazy Time and Lightning dice. The casino continues to be a strong part of Kineko, which guarantees turnover when sports schedules are not at their fullest.
The casino had a strong month which turned over $1,440,924 and $95,707 in profit!
We saw moderate use of the sports book with football only coming back through the midpart of the month. We predict with an increase in quality sports like NFL, EPL, NBA and other European football traffic will gravitate more towards the sportsbook as these are everyone's favorite betting games.
On that front we saw $184,600 turned over with $36,922 in profit!
The new development team has been hard at work upgrading the backend of the betting exchange. We will focus on UI/UX improvements once those upgrades are finished, such as adding a favorites tab for slots and offering a daily rewards system to incentivize active users.
For the dApp we have started working on a framework for the contracts and we will release more details in the coming weeks and months. Governance will be rolled out shortly as well.
As always, feedback and suggestions are greatly welcomed, so please reach out to the team and tell us what you would like to see on the Kineko platform!
This month is an exciting one for Kineko as we have begun to look for brand ambassadors amongst sports athletes or eSports stars who want to endorse Kineko. The twitch stream will go live with one of crypto’s favorite personalities, and, of course, all of your favorite sports are back; EPL, NFL, NBA and the big eSports tournaments.
After 31 days of trading in August we have seen a total turnover of $1,625,524 with a total profit of $132,629.00. We are pumped with these numbers considering how much $KKO was burnt just last month and this gives the holders something to look forward to when we finish Q3.
Expect a big marketing push in Q4!!!
Lastly, the team at Kineko would like to thank our amazing community for assisting us and continuing to be valued participants in this exciting project.
Betting and Casino: https://kineko.com
Telegram Public: https://t.me/KinekoDefi