Happy Kimchi (KIMCHI) X Coinstore AMA Recap 💬
Welcome Back Coin Collectors,
Once again, Coinstore had held an AMA in collaboration with one of our newly listed project party on Coinstore, Happy Kimchi (KIMCHI). This AMA gave our community and KIMCHI’s community a more in-depth introduction of Happy Kimchi’s project. Held on Coinstore’s official telegram group, Happy Kimchi’s team leader and tokenomic advisor, Ridha, was the guest speaker, and the AMA was hosted by Una from Coinstore!
So, here it is another AMA recap with Happy Kimchi. We received an overwhelming response from the community, with a total of 63 questions fielded from 25 interested users.
Now moving on to the exciting part! Here is how the AMA went! To start off this AMA, Ridha introduced himself and Happy Kimchi token to the Coinstore community.
Ridha’s Introduction of Himself & Happy Kimchi:
Assalamualaikum and a very good evening to all coinstorers. My name is Ridha, I’m a tokenomic advisor and the team leader for Happy Kimchi Token.
To make our session easier to understand, I will devide our AMA into 4 parts.
2. The Projects
3. Social Media
4. Coinstore Listing
Happy Kimchi ($KIMCHI) is a community driven, deflationary token powered by ⚡️uperfriends Ecosystem. We design Happy Kimchi in a way that our community members / holders will be rewarded just by holding $KIMCHI. Happy Kimchi was launched on the Binance Smart Chain mainnet on the 14th Jun, 2021.
You can refer to our web and our litepaper in the link below for details:
• Web: https://happykimchi.io
• Litepaper: https://happykimchi.io/wp-content/uploads/2021/06/KIMCHI-LIGHTPAPER-V2.pdf
$KIMCHI will be the main token for the ⚡️uperfriends ecosystem, and as for now there are 2 more tokens in the ⚡️uperfriends ecosystem. That is KOYAK token and DETIK token.
These are the details of our token, $KIMCHI and its tokenomics:
Total Supply: 1,000,000,000,000
Initial Burned: 300,000,000,000
Circulating Supply: 699,666,792,105 (Bogged Finance)
Next Burn: 200,000,000,000
Tokenomics: (10% tax)
🔥 5% Auto Burn — will reduce the amount of $kimchi in the market which will influence the increase of the price due to decrease in supply.
💼 2% Holders Wallet — automatically be distributed to holders
📦 2% Team Expenses — expenses of the team for development of the project.
📥 1% Pancakeswap Liquidity Pool — maintain the supply numbers of $kimchi in Pancakeswap to reduce the market fluctuation
Happy Kimchi is using Binance Smart Chain network as foundation for its projects. This is to ensure that the transaction fee is low, fast transaction, easily swapped, and the most important part is user friendly.
Our objective is to focus on the ASEAN market. From the statement made by KPMG, only 27% of the ASEAN population has a bank account compared to 63% that have internet access in ASEAN countries. This shows smartphone users outnumber bank account holders. We see the opportunity here to create a broader use of the blockchain technology and be one of the top crypto in DeFi segment.
We are currently running 4 projects focusing on ASEAN market:
• Phase 1 : Staking as a Service — a liquid staking platform. (beta v2) launched 25th September 2021 https://stakeit.finance
• Phase 2 : Decentralise Exchange
• Multivendor online shop — focusing on ASEAN market starting with Malaysia as pilot country and will be followed by Indonesia and Vietnam.
• A crowdfunding project for digital properties development, rental, & agricultural activities.
4. Kimchi Planet
• Solar Panel project
• Personal use — cheaper solar panel for home use
• Commercial crowdfunding — commercial building
We just launched our Stakeit.Finance, a staking as a service platform. Stakeit.Finance offers Liquid staking for tokens that are using Binance Smart Chain network.
Stakeit.Finance: https://stakeit.finance (beta v2)
A Staking as a Service platform (estimated: 45% — 360% APY)
1. LP staking — rewarded with native token
2. Native Token Staking — rewarded with native token
3. Liquid Staking — rewarded with USDT (more liquid token)
All the staking will need $KIMCHI as a fee for the contract. For time being, we are still using web2. So, stakers still need to login and register manually. We will upgrade Stakeit.Finance from time to time.
Telegram Official: https://t.me/happykimchi
Telegram Community: https://t.me/happykimchicommunity
Please LIKE, FOLLOW & SHARE them.
We started working out the negotiation with Coinstore for listing since early September. Coinstore opened our trading on the 30th September and we kicked off at $0.00004/kimchi. Our ATH currently stands at $0.0031 and now our current price is $0.000167/kimchi.
Let’s give a huge clap👏🏻👏🏻👏🏻👏🏻 to Coinstore team for their wonderful platform and by giving us the chance to shine here with them.
Moving on to segment 2, where the AMA host — Coinstore Una — will be asking Ridha some questions!
Host: Can you briefly introduce kimchi? What are the highlights of kimchi?
Happy Kimchi ($KIMCHI) is a community driven, deflationary token powered by ⚡️uperfriends Ecosystem. We design Happy Kimchi in a way that our community members / holders will be rewarded just by holding $KIMCHI. We are focusing more on ASEAN market and most of our pilot project will be done in Malaysia, Indonesia and Vietnam. We have launched Stakeit.Finance for liquid and LP staking. This will cater the new token under Binance Smart Chain network to grow and perform in market
Host: What is the use-case of KIMCHI?
Kimchi will be used as a fee for all its projects and as a reward token too. For example, for liquid staking, you will need kimchi to stake in our staking platform.
On our multivendor online shop, kimchi will be used as a payment method for purchasing products there. We are negotiating with few vendors to supply in our multivendor online shop. So kimchi is not just trading or staking, it have lots of other functions too, for example, you are a new developer for BSC network and you need a place to stake, you can use our platform, and all stakers for your token there must use KIMCHI as one of the input just like creating liquidity pool in pancake. And in stakeit.finance, we do offer affiliates bonuses to help grow not just our market also our customers’ markets.
Host: What are some achievements that kimchi has already completed, and what are the upcoming plans?
KIMCHI is the base foundation for ⚡️uperfriends ecosystem. All token associates with KIMCHI, and needs kimchi to participate in all of the ecosystem. The best achievement for now is listed in CoinStore 👍🏻👍🏻👍🏻👍🏻👏🏻👏🏻. We have listed on few community voting web like coinsniper, cryptomoonwatch and others, we also listed with nomics. And they gave us A grade for transparent trade.
Segment 3, is where our community will be asking any questions they have for Happy Kimchi:
- Are there any new projects Happy Kimchi is working on? (Asked By: Shawntth)
We are now in phase 2 of KimchiLab development, a DEX. And we are targeting by January 2022 to launched them. We are also working with Detik token for their NFT market place.
- What is Payout Currency for Staking with Kimchi/Stakeit? (Asked By: DigitalArts)
We currently have 2 staking program.
1. LP staking for KIMCHI/BNB LP holders : reward with $KIMCHI
2. Liquid staking KIMCHI/USDT: reward with USDT
- How many kimchi will be burnt every month? (Asked By: Khalid)
We have burned 300,000,000,000 kimchi and our second burn is 200,000,000,000 kimchi by end of this year. 5% of every transaction will be burnt.
- Is your project only for elite investors, what about others with small funds, is it open to everyone? (Asked By: Coco_0604)
Our project is open to all not just any particular investor.
- Is now the right time to buy your tokens for long term holding and how do I want to buy Happy Kimchi ‘s tokens? (Asked By: Da Nguyen)
Please buy them at Coinstore.
- How much % will your project team get from this project Happy Kimchi , what will you do with that % and do your team intend to stick with this project for a long time? (Asked By: Duno Han)
We have locked 10% of our dev token, you check it here: https://dxsale.app/app/pages/dxlockview?id=1&add=0xE772233050B2637CA770055C0a8efA3414ceb07D&type=tokenlock&chain=BSC
Once unlocked, 50% will be burned, 20% will be funded for charity and 30% will be distributed to our dev team.
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