The NFT project CyberKongz is preparing to launch a new Token called KONG with a total supply of 1 billion, replacing the current BANANA Token.
KONG Token will operate on the Ethereum Blockchain with a conversion rate of 1:25 for BANANA, while implementing a new distribution mechanism through Kongz Hub, with 2% airdropped to the Ethereum NFT community.
MAIN CONTENT
CyberKongz launches KONG Token to replace BANANA Token at a ratio of 1:25.
KONG Token is exclusively issued on Ethereum and serves as a brand liquidity layer.
The new distribution mechanism through Kongz Hub will allocate 2% of the Token supply for free to the Ethereum NFT community.
When will CyberKongz launch KONG Token and what is the total supply?
On August 20, CyberKongz announced the release of a new Token named KONG with a fixed total supply of 1 billion Tokens.
This KONG Token aims to completely replace the previously used BANANA Token in the CyberKongz ecosystem. Announcing the release time allows the community and investors to prepare, while also demonstrating innovation in the project's digital asset governance.
What is the conversion rate between KONG and BANANA Tokens, and how does this affect the ecosystem?
The established conversion rate is 1 BANANA for 25 KONG Tokens, a conversion mechanism that ensures value for previous BANANA Holders.
This conversion indicates the project aims to expand the value and utility of the new Token, while also promoting liquidity and higher applicability for users. This is also how CyberKongz restructures its economy within its NFT ecosystem.
On which platform does KONG Token operate and what is its main role?
KONG is exclusively issued on the Ethereum Blockchain, ensuring high security and interoperability with other NFT products on the same platform.
This Token will act as a brand liquidity layer, contributing to enhancing the CyberKongz ecosystem by supporting trading, staking, and communication activities. Choosing Ethereum allows the project to leverage a large community and a top stable blockchain infrastructure.
How will the KONG Token distribution mechanism be implemented?
The KONG Token distribution mechanism is organized through Kongz Hub, aiming to allocate Tokens to the right subjects, including specific holders and stakers in the ecosystem.
This principle replaces the previous revenue mechanism of the BANANA Token, aiming to enhance transparency and efficiency in distributing value to the community, while also strengthening the connection between the project and long-term investors.
KONG Token represents a new direction in building a quality liquidity platform for the NFT ecosystem on Ethereum, helping to strengthen the system and expand utility for users.
CyberKongz development team, 08/20/2024
Frequently Asked Questions
On which exchanges can KONG Token be traded?
Specific information about the exchange has not been officially announced; however, KONG Token issued on Ethereum will be compatible with platforms supporting ERC-20.
How does the conversion from BANANA to KONG take place?
BANANA holders will be allowed to exchange old Tokens for KONG at a rate of 1:25 to preserve asset value in the ecosystem.
What percentage of KONG Token is airdropped to the community?
2% of the total supply of KONG Tokens will be given away for free to the Ethereum NFT community to encourage participation and support project development.
What is Kongz Hub and why is it important in Token distribution?
Kongz Hub is the management platform for distributing the new Token, helping to ensure fairness and transparency in allocating Tokens to project holders and stakers.
Does BANANA Token still have value after KONG is launched?
The revenue mechanism and use of the BANANA Token have been discontinued; BANANA will no longer be supported and users should transition to KONG Token.
Source: https://tintucbitcoin.com/kong-token-thay-the-banana-airdrop-nft/
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