Looking Back and Looking Forward, KIRA, KEX and Everything In Between
We would like to start this summary by thanking the KIRA community for supporting us throughout our journey thus far. Since the inception of the project almost two years ago and the development of the concept into a reality, to a sometimes long and arduous fundraising and marketing round that included 12 institutional funds, over 100 seed and private investors along with over 60 AMA’s!!!, we’re still more excited than ever for what’s to come in Q4 2020, Q1 2021 and beyond.
Again, we’re incredibly thankful for those who have joined us along the way, we really couldn’t have done it without you!
The most recent part of this journey started at 3 PM UTC on November 25, 2020, with the Kira Liquidity Auction Event. The primary goal of the KIRA Liquidity Auction Event was a fair price discovery method for the KEX token. The auction participants had a chance to select the price they felt was fair by contributing at constantly decreasing valuation, starting from ~$3.00 per KEX, which then rapidly declined within the 1st hour down to ~$1.00 per KEX. For the remaining hours the price declined at a slower pace, after the constantly declining hard-cap had been reached.
The Kira Liquidity Auction successfully completed at 7am on the 26th of November, ~16 hours after launch and ~6 hours before the projected auction ended. In total, 2,597.18 ETH was contributed to the auction contract and 4M KEX was purchased by Liquidity Auction participants. The final ratio at which tokens were purchased was ~0.000649 ETH per 1 KEX or correspondingly ~1540.132 KEX per 1 ETH. The Liquidity Auction was attended by a total of 399 unique participants out of 1299 who applied for the whitelist.
KIRA Liquidity Auction TLDR -
- Closed after 16 hours
- 399 participants, 1299 whitelisted
- Raised 2,597.18 ETH
- Price discovered per 1 KEX ~0.000649 ETH
At 3 PM UTC on the 27th of November 2020 trading of the KEX Token was enabled on the Uniswap. The initial listing price of the token was as per the final price of the Liquidity Auction, ~0.000649 ETH per 1 KEX or correspondingly ~1540.132 KEX per 1 ETH.
Before the Uniswap market opened, $200k USD of liquidity in ETH and KEX tokens were supplied as initial liquidity. Liquidity was locked for the period of six months using Unicrypt Locker to signal KIRA’s long term market support on Uniswap. 24 hours after launch, a further $200k USD of liquidity was supplied to the KEX/ETH liquidity pool, also locked using Uniswap Locker, resulting in a total of 400 ETH and corresponding amount of KEX locked into Uniswap liquidity.
Unlike many other projects that launch on Uniswap and are unofficially listed on other exchanges, KEX tokens are locked via a whitelisting mechanism so seed, private sale and Liquidity Auction participants can only trade on Uniswap and the KEX token cannot be unofficially listed. This lock will remain in place until the KEX tokens primary listing event, which will take place on a centralised exchange in the near future. We look forward to updating our community as to who this primary listing partner is at the appropriate time.
Trading interface: uni.kira.network
Par information: info-uni.kira.network
UNISWAP TLDR -
- Initial listing price ~0.000649 ETH per 1 KEX
- Initial liquidity 200 ETH, additional 200 ETH was added 24 hours later
- Tokens are not transferable until primary listing partner to prevent unofficial listings
- CoinMarketCap and Coingecko listing
As we move past the initial listing of the KEX token we have many exciting events and announcements before the end of Q4. In the coming days and weeks we’ll be announcing our primary listing partner for the KEX token, along with our liquidity incentivisation program for Uniswap, which will feature a favourable APY for KEX holders who contribute liquidity to the KEX/ETH Uniswap liquidity pool.
We’ll also be preparing for the KIRA testnet launch by onboarding Validators and Bounty/Tester for the first release of the testnet. Remember if you’d like to run a Validator on the Kira mainnet, you MUST participate in the testnet! In the coming days a demo of the testnet release will be made available and allow anyone to launch his own test network using provided launcher scripts.
If you’d like to participle in the Kira testnet, you can join our private testers group on Telegram.
NEXT STEPS TLDR -
- Liquidity Reward Program on Uniswap
- Primary Partner Listing
- Onboarding Validators
Telegram Channel: https://tg.kira.network