The news you’ve heard is true. The ICO of K-Chain is already live and is making itself a great deal in the cryptoverse with investors going on a shopping spree. To know why it is being celebrated, keep reading.
If you are familiar with the world of smart contracts, then you must have heard about the Ethereum blockchain. Being a completely decentralized, open-source exchange with its native currency Ether, it used the Proof-of-Work methodology to verify the transactions.
The Initial Coin Offerings, which is commonly recognized by its abbreviation ICO, are handled by the ERC-20 tokens of the Ethereum platform. These tokens are the recognized technical standards that are used for all smart contracts on the Ethereum blockchain for the creation and implementation of all Ethereum-based tokens, including KING-STORE’s KCT.
The ERC-20 tokens are considered to be digital assets with a dynamic value that can be sent and received. These tokens are highly-customizable and can exhibit an astonishing processing speed of transactions. Few of a bundle of advantages of the ERC-20 tokens include,
Interaction with other cryptocurrencies
Smart contract-based functionality
Entirely compatible with similar platforms, projects, and exchanges.
Can be incorporated into decentralized applications
KING STORE online shopping platform’s KCT coin flaunts the above-mentioned ingenious features and is perfectly poised for high scalability and establishes complete transactional security.
K-Chain Token- The Governance Token Of King Store
The K-Chain Token, abbreviated as KCT, is the functional currency of the KING STORE online platform and is an ERC-20 token, running on the Ethereum blockchain. KCT is an integral part of raising capital for business operational costs and, in the long run, is intended to join the bandwagon of major currencies like Bitcoin, Ethereum, Ripple, etc. Some of the salient features of KCT in the KING STORE online platform are as follows:
KCT is available throughout the world and is free from geographical restrictions.
KCT can be employed to transfer funds and execute payments in a P2P fashion.
The KCT wallet supports other significant cryptocurrencies.
KCT will be listed on P2PB2B. Probit, Bittrex, Beaxy and Kraken.
KCT’s value is touted to be appreciated by the infusion of franchise online store fees, and the liquidity is maintained by the usage of KTC in ecommerce purchases in the KING STORE online shopping platform.
Pointers On The K-Chain Token Details
The name of the token is K-Chain token or KCT.
The Soft capital allotted for this ERC-20 token is the U.S. $10,000,000
The Hard capital allotted for this ERC-20 token is the U.S. $20,000,000
The base price of the token for the ICO is $5.
The total number of tokens out for sale is 2,500,000
TOKEN DISTRIBUTION
Core Phase or Crowdsale - 47%
Advisory and Partners - 22%
Project Team Members - 15%
Bonus and Reserve - 13%
Bounty and Campaign - 3%
INVESTMENT BONUS
A magnanimous bonus upto 100% will be offered during the ICO by K-CHAIN TECH INC for all during the private sale phase, expected to execute between 30-60 days, which is devised to increase the availability of tokens to the public. This proposes the possibility of opening the floodgates of bonuses to everyone, besides high profile investors. An additional reward of 15% is designated as a referral bonus.
FUND UTILIZATION
In Percentage
Platform & Core Product Development - 35%
Sales & Marketing - 25%
Accession & Partnerships - 18.5%
Admin & Partners - 10%
Legal & Financial - 8.5%
Bounty Program - 3%
Capital Expenses (Total Budget = $2 million)
King store e-retail system platform = $0.6 million
Headquarter and overseas branch setup = $1.3 million
Multimedia devices = $0.1 million
Operation Expenses (Total Budget = $8 million for 3 years)
Market Research and Development
Logistics and Distribution Centre
Office and Utilities
Human Resource
Sub-Contractors (Graphic Design and MIS)
Social Media, PR, Events
Travelling and Miscellaneous
Final Thoughts
Now, you have an explicit knowledge of KCTs, and the ICO. Don’t be late, hop on to the website(www.kchaintech.com) and go shopping.