New York, NY, May 2, 2022 (GLOBE NEWSWIRE)- DeFi Kings We are pleased to announce the launch of a new utility-based reward token, a departure from the traditional unattractive volume-based rewards.
DeFi Kings is aiming for an exception when it comes to volume stability hurdles. With a planned launch date of May 2022, the team will replace volume as a primary criterion for measuring the value of reward tokens with practicality.
13% of each transaction will be returned to the holders of the preferred cryptocurrency from a rich list of options such as Ripple (XRP), BUSD, Ethereum (ETH), ADA and Bitcoin (BTC).
In addition to utility-based reward tokens, the DeFi Kings team also offers a staking / farming platform. Codenamed King’s Ransom, the platform rewards each staker for 5% and 2% sell and buy transactions, respectively. This is in addition to the fact that 4% of all sell transactions are deflationary tokens that have been bought back and burned to the platform.
Actual utility
According to DeFi Kings, the main difference between reward tokens and other tokens is practicality. The first utility shown on the roadmap is a peer-to-peer (P2P) lending platform that allows members to obtain loans and secure collateral with locks.
Lenders and borrowers can set loan terms and DeFi Kings act as an escrow between them. The team will be charged for that role. The fees collected will be shared among the $ DFK holders of the King’s Ransom staking platform.
In addition, the platform is building an ecosystem with additional future developments that can generate more rewards for token holders. The goal is to make the project more sustainable as it is transaction volume independent.
KYC, audited contracts, and Doxxed Devs
The developers of DeFiKings, based in the United States, feature transparency. The team explained that it will conduct at least three Know Your Customers (KYC) exercises before launch.
Team members are not anonymous. They recently revealed their identity to the community. The developers are experienced members of the crypto community and have volunteered for other projects that have the necessary experience to make this project a success.
Transparency and safety are their guiding principles and one of the reasons they pay more attention to these features during promotional campaigns.
The team’s smart contracts have had one audit and want to have one or two more audits before the start date.
Pre-sale and release
The team hasn’t announced a specific launch date yet, but has promised the crypto community that pre-sale and launch will take place at the end of May 2022.
Pre-sale is reserved exclusively for Whitelist members with 150BNB and 300BNB softcards and hard caps, respectively.
Social media handle:
telegram: https://t.me/officialdefikingscrypto
twitter: https://twitter.com/defikingscrypto
Reddit: https://www.reddit.com/r/DefiKingsCrypto/
..
