After much deliberation and consultation the Kineko team has decided the best way to release the $KKO tokens to the public in a fair manner, is a Liquidity Bootstrapping Pool (LPB) on the Balancer protocol.
For those who are unfamiliar with the Balancer protocol here is some light reading on how a Liquidity bootstrapping will benefit everybody in the fairest manor possible.
There were two major concerns for the Kineko Team when considering what would be the best way to distribute the tokens as fairly as possible.
The first concern was using a launchpad to distribute the token, meant the original community would likely not get any access to the public sale, launchpads tend to have an extremely expensive entry fee.
The second concern was any sort of botting or exploitation that would happen on the TGE (Token Generation Event). A good example of this is when the $OHM got released, one participant managed to buy all the liquidity in the first block during the TGE.
Using the LBP will allow $KKO to discover fair market value before the token is released onto the various exchanges, like Uniswap and Sushiswap. This will alleviate a single party from holding the majority of the small supply we are selling.
The total supply of $KKO is 100,000,000, with 2% being sold via public sale. Seed and private investors are locked into long vesting schedules with no unlocks until 6 months after the TGE.
The tokens issued during the LBP Public Sale and the farms will be the only tokens in circulation for the first 6 months. The sale will be conducted with USDC.
50,000,000 $KKO tokens will be emitted via the farms over a long schedule with a high emission rate at the beginning to bootstrap the circulating supply.
Our aim is to distribute the tokens fairly via the LBP and staking whilst maintaining sustainable growth for the community. With the majority of the tokens emitting via the pools those rewards will give the holders access to a large amount of rewards and governance.
The $KKO Token Sale will begin at 10am EST on the 7th of May! Make sure to follow us on all our Social Media channels to stay up-to-date and warm up for a big surprise 🎁 before the Token Sale Event.
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