Introduction
Developing a digital asset or token is common among most platforms in the blockchain and cryptocurrency industry, especially platforms that offer decentralized finance applications. This crypto-asset enables the network to deliver varied offerings on its platforms and improve the speed, transparency, and security of performing transactions. Kragx Network also has its cryptocurrency, called KRAG, which will provide support to the financial system of clients and investors. While the digital asset of any blockchain project validates several applications on the platform, it still operates as the primary source of revenue to the project. Cryptocurrencies, when well implemented, will benefit both the clients and the platform.
There are numerous ways in which users and customers on the Kragx network can benefit from using the KRAG token. These ways include the lending of crypto assets, tokenization of assets, financing, and others. Investors and enthusiasts can acquire the KRAG tokens through the varied channels available such as the initial coin offering (ICO), airdrop, bounty, etc. For investors who partake in the ICO, will be allocated the tokens and will be able to access the tokens on the dashboard of their account on the Kragx website. The digital asset will be available on different exchange platforms and users can sell, buy, or swap them for other widely-used cryptocurrencies such as Bitcoin and Ethereum, or some popular fiat currencies such as US dollars, Euros, and Pounds sterling.
Having such availability and market value will boost the mass adoption of KRAG token in the market and most businesses and individuals will seek to own it as the currency pairings increases.
KRAGX Token Features
Most crypto assets in the blockchain industry possess distinct features and enable certain functions on their parent network. The KRAG token is also equipped with certain features that allow seamless and efficient decentralized financial operations across all platforms. The token is developed on the Ethereum blockchain network and is an ERC-20 compatible token that is supported on such digital wallets. It enables varied functions for all holders and allows them to have access to such functions, which include liquidity pool, lending, staking, borrowing, governance and voting purposes, etc. One way users can increase their KRAG token earning is via borrowing assets.
The key features of KRAG digital asset include:
ERC-20 Based Token
This crypto asset is developed on the most widely adopted blockchain network, Ethereum, and this enables it to function efficiently within the decentralized finance ecosystem. As an ERC-20 based token, the KRAG crypto asset will be compatible with most digital wallets in the market and users can easily, securely, and conveniently buy, sell, stake, and exchange their tokens. This also increases the number of currency pairings, both crypto, and fiat, available for clients to choose from.
Empowering DeFi Services and Products
Kragx network delivers varied decentralized services and products on its platform, and it validates most of these offerings using the KRAG token. Such utility of a digital asset empowers applications and functionalities on the platform. It is also an effective tool that will support future services and applications on the Kragx network.
High Processing Time
A major challenge in processing transactions is that it takes lots of time to complete. This causes delays in parties receiving payments and loan credits. With the KRAG token, which is developed on blockchain technology and decentralized system, the processing time for all transactions and payments involving the asset takes lesser time. Payment settlements relating to borrowing or lending and liquidity are also performed quicker and more securely.
Exchange and Swapping
Users can utilize the token to exchange for other cryptocurrencies and fiat money on supported exchange platforms
Investor Token Offer
Kragx network developed an incredible amount of tokens to support users who will join their platform as private investors. A total of 70 million tokens is allocated to boost the businesses of these investors.
KRAG Token Allocation
Usually, blockchain projects publicize the total amount of tokens available for allocation and distribution during the launching stage. There are often specific purposes these tokens are allocated and each of the purposes has a percent fraction of the total volume of tokens in circulation. Across the blockchain industry, the allocation for purposes varies from one project to another; though there are common purposes for all platforms.
Kragx network allocates and circulates its token to six (6) different purposes. They include public sales, pre-ICU private sales, airdrop and bounty, team and advisors, acquisition and partnerships, and company reserved. Kragx has about 200 million KRAG tokens in circulation; it has its soft cap set at 500,000 US dollars while the hard cap is 5,000,000 USD. This network’s crypto asset is already compatible with popular cryptocurrencies such as BTC, LTC, ETH, and XRP.
Public Sales
This has the highest amount of tokens allocated to it. Kragx is mapping out this huge number of tokens to enable all users and crypto enthusiasts to gain access to the network and own the token. This allocation also contains the bonuses investors will receive for staking their assets. This sales program is for the entire public. About 45% is allocated for this purpose.
Pre-ICO Private Sales
Kragx network allocates some tokens for private investors who intend to participate and contribute to the platform. This coin circulation often occurs before the initial coin offering. The management team allocates about 5% of the total volume in circulation.
Airdrop & Bounty
These are marketing strategies deployed by most blockchain projects to attract new users to join their platform. Participants in the campaign program are expected to perform several tasks, and they will receive some tokens after completion. Kragx allocates about 1% of all tokens to this.
Team and Advisors
As a way to offer incentives and rewards to founding members, team members, and advisors of the Kragx network, about 5% of the entire quantity in circulation is allocated to encourage them.
Acquisitions and Partnerships
Kragx intends to build collaborations with other key figures and entities in the DeFi space, and this allocation helps sponsor these decisions. It will also cover various purchases performed. About 5% is assigned for this.
Company Reserved
The platform stores a significant amount, 39%, of all tokens in circulation, and keeps them to liquidate the network and support the system.
Projects Info
Website: https://kragx.io/
Whitepaper: https://kragx.io/whitepaper.pdf
Telegram: https://t.me/kragx_chat
Twitter: https://twitter.com/kragxk
Instagram: https://www.instagram.com/kragx_/
Reddit: https://www.reddit.com/user/Kragx_
YouTube: https://www.youtube.com/channel/UCQXzubCYqUb6dNMp3NEoW9w
AUTHOR'S DETAILS
Bitcointalk Username: Whipcloth
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768216
Proof of Authentication: https://bitcointalk.org/index.php?topic=5313790.msg56534868#msg56534868
Eth Address: 0x7AEc70455aC136D09E315A1D2e5ddaE83D8Cd0Cb