KNG tokens will be used for 3 purposes:
1. Cryptocurrency and token trading fees
Both the seller and the buyer are charged a trading fee. The fee ranges between 0 and 0.25% of the transaction amount (per participant), converted to and payable in KNG tokens.
Transaction participant does not hold KNG tokens The trading fee is deducted from the cryptocurrency or token amount received in trade (e.g. if the user purchases BTC, the BTC total deposited to his or her wallet is reduced by the fee). The fee amount is automatically exchanged to KNG tokens (at the best available rate), which are then used to settle the charge.
Transaction participant holds KNG tokens The trading fee is deducted directly from the user’s KNG balance. The fee amount is converted to KNG using the exchange rate from the last transaction on the respective market (BTC/KNG for the situation in the example above). To reward KNG token holders, their trading fees are reduced by 50%.
2. Trading fee reduction As noted above, KNG holders will pay trading fees 50% lower than non-holders. This is intended to encourage users to purchase KNG tokens.
3. Payment for complementary services provided by Kanga Exchange Cryptocurrency and token trading fees are Kanga Exchange’s principal source of income. At the same time, however, Kanga will provide a number of complementary services, such as: smart contract generation, STO token listing, etc. Payment for all such services will be accepted solely in KNG tokens.
The Early Investment and Private Sale stages offer investor benefits in the form of SPE shares and Kanga Exchange tokens (KNG). During the Pre-ICO and ICO stages, investor benefits are limited to Kanga Exchange tokens (KNG) only. KNG price starts at 0.08 USD at the early investment stage and gradually increases to 1 USD during the ICO.
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