Kira Announces KIRA’s Next Public Cash Auction which will start on 25 November 2020, at 3 p.m. UTC and will end in 24 hours or once the hard cap is reached. Customs, Hard & Soft capped A Dutch auction will be launched to ensure that every whitelist The participant will have an equal chance to acquire KEX tokens at the best possible price, depending on demand.
About the auction
The auction will open at a valuation of ~ $ 3.00 per KEX, which will then decline rapidly within the 1st hour to ~ $ 1.00 per KEX. For the remaining 23 hours, the price will drop at a slower rate, to the minimum of ~ $ 0.075 per KEX and the 300,000 USD soft-cap have been achieved. The full schedule can be found here. By setting a reasonably high initial cap, we can ensure that, at least within the first hour, the auction is less likely to end abruptly. It also ensures that everyone will have the opportunity to deposit tokens on time and there will be no need for GAS wars.
The auction will be only accepts ETH. The longer participants wait after the auction starts to transfer ETH, the lower the potential final price will be. However, it also significantly reduces the chances that all participants will manage to acquire KEX tokens before the fixed cap is reached and the auction ends. The final The KEX closing price will be the same for everyone, set at the lowest possible rate regardless of when participants transferred ETH to the contract address, provided they do so while the auction is still ongoing. The KEX the closing price will be determined at the end of the auction and will be based on the total value of ETH contributions divided by the total number of allocated KEX tokens at the auction.
The total number of KEX tokens allocated for the liquidity auction will be set at KEX 4,000,000, which is worth 300,000 USD at $ 0.075. The price is expressed in ETH by KEX in the auction contract and locked 24 hours before the start of the auction based on the ETH / USD ratio as indicated by CoinGecko. While theoretically it is possible that the total ETH value of all contributions exceeds the soft cap of USD 300,000 imposed by KIRA, any capital contributed in the auction above the soft-cap will be used to facilitate additional exchange quotes and increase KEX’s liquidity in the open market, thus returned to its ecosystem and participants over time.
Rules and requirements
- Anyone can participate in the auction, except residents or citizens of North Korea, Iran and unaccredited investors from the United States. To be eligible, participants must submit their public Ethereum key that they will want to whitelist and complete a KYC form available here: https://whitelist.kira.network.
- The whitelist form MUST be completed before November 23, 2020 at 23:59:59 utc, after which no further submissions will be accepted. The auction interface with live status view will be available at: https://auction.kira.network
- To participate in the auction, it is not necessary to use a front-end application or take any other action outside of check the validity of the deposit address and transfer of ETH when the auction starts on 25 November 2020, 15:00:00 UTC, at the contract address: https://auction-contract.kira.network
For more information on verifying a deposit address, please see our Best Practices Article, which explains the deep verification of the PGP signature. the ERC20 KEX Tokens will be automatically distributed to participants within 24 hours of the end of the auction.
Each participant who successfully transferred ETH while the auction was in progress will be able to withdraw their KEX tokens instantly after the auction is finalized by sending a claimTokens transaction directly from Etherscan Write the contract page. The KIRA team will initiate token withdrawals for participants who have not claimed their tokens ~ 24 hours after the auction ends.
Tokens will not be transferable after the auction is finalized to ensure everyone receives their KEX before market access is activated and is given equal opportunity. The token exchange will be activated on November 27, 2020 at 3 p.m. UTC via dedicated Uniswap pools which will be announced later. The opening price will be set at the price at which the liquidity auction was finalized. Until the main listing, trading and transfer to and from only pre-defined and verified contracts and smart pools will be allowed to prevent all potential listing and phishing scams. Join our telegram chat to let us know on which decentralized platforms you would like to see KEX available.
KIRA strives to ensure the highest possible standards for the safety of our community. All contracts approved and deployed by the KIRA team have corresponding third-party audits that are publicly disclosed on our official GitHub page as well as the complete code base and deployment instructions available for testing. KIRA encourages everyone to review KIRA First & Second Security challenges that deeply explore many potential vulnerabilities that can be encountered daily in the crypto industry.
Telegram string: https://tg.kira.network
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