DeFi Project KingSwap Announces Tokenomics Model to Share Rewards of its NFT Success to KingSwap’s NFT Holders
An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards.
SINGAPORE — November 2, 2020 at 1030AM EST — DeFi project KingSwap (https://www.kingswap.io/) with regulated* $KING token today announced the performance of its NFT Rewards Success and Release of Early Liquidity Provider Token Rewards.
KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, a legally regulated $KING token, and fiat conversions.
With KingSwap’s Strong NFT Market Performance, where over 7 mints of limited NFT collectibles have sold out, some of which have already switched hands in the already robust resale market for up to 150% profit. KingSwap also issued the first Halloween series limited edition NFTs that gave its holders rewards and an initial ROI of over 150% calculated on an annualised basis. There have been daily airdrops, with 50,000 $KING tokens already airdropped to the loyal NFT holders, and with much more to come in, as announced by the project. Early yield farmers were reporting insane APY’s, that have since settled at over 3000% APY with more participation in the KingSwap liquidity pools.
The KingSwap project will also be issuing its first distribution of tokens to early liquidity providers, advisors, and some locked tokens to their team and co-founders on Nov 2, 2020.
Users with stacks of NFTs will be rewarded by quests performed, and the mechanism will be powered by KingSwap’s NFT properties. Incentives will be distributed in accordance with NFT holdings in their wallets.
This will also help provide fairness to early NFT adopters and help to rule out uncertainty and give them loyalty rewards and $KING Tokens. Also, KingSwap reduces the chances of an adverse participant exploiting the system to achieve a predictable outcome.
KingSwap wants to use this provably-fair gamified characteristics in its NFT ecosystem to reward users. Kingswap will be able to correctly mint and distribute $King rewards to it’s users based on its distribution smart contracts.
KingSwap will be coming up with more limited edition NFTs to cater to user wants and the development team would help Kingswap to explore NFTs further and to develop its potential to attract more conventional investors as well.
KingSwap (https://www.kingswap.io/) is a fully regulated* DeFi project based out of Singapore that is introducing a liquidity pool platform with fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles. The project launched on Uniswap on October 31, 2020.
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* “Regulated”: KingSwap commissioned Gravitas International Associates Pte Ltd, a Singapore Payment Services Act (“PSA”) exempt company, to issue the $KING tokens. A legal opinion regarding the token issuance has been submitted to the MAS in accordance with the PSA requirements. Gravitas has already submitted an application to the MAS for full licensing under the PSA, and the said application is pending review. KingSwap itself has no licensing specific to DeFi projects, as there is no such specific legislation anywhere in the world at this point in time, and is following the regulatory framework of the PSA in Singapore at the time of writing.*