We are excited to finally announce details of the official launch of KI Token. Learn more about KI and its role in Genopets in our article on the Dual Token System.
In determining the best approach to launching KI Token, our in-game utility token, the team has examined a variety of options. Launchpads favor speculators, while batch auctions result in over-inflated prices. As such, we decided on a method that would best enable price discovery and encourage utility to benefit the core Genopets community. We’re partnering with Strata on a Dynamic Pricing Protocol that allows the community to participate in discovering the fair market price.
100% of the proceeds from the launch will be allocated towards bootstrapping initial liquidity for KI.
Tokens Available in Launch:20,000,000 KI (⅓ of the initial KI Token supply)
KI Vested Airdrop to GENE Stakers:20,000,000 KI (⅓ of the initial KI Token supply)
Protocol Designated Liquidity: 20,000,000 KI (⅓ of the initial KI Token supply)
Starting Price:0.50 USDC
Starting Supply: 40,000,000 + (20,000,000 / 90) KI Token vested each day for 90 days from the airdrop to GENE stakers
What: KI Token will be sold in a dynamic pricing launch and airdropped to GENE stakers to bootstrap its liquidity ahead of public beta of Genopets.
When: June 20th, 2022 at 15:00 UTC through June 23th, 2022 at 15:00 UTC, or whenever it sells out, whichever comes first.
How: The sale is dynamically priced and powered by Strata. Starting at $0.50, the price will gradually fall and then rise each time KI is purchased, creating a curve and allowing the community to decide the fair price.
Why: KI Token is the Genopets in-game utility token that is earned by Habitat NFT owners for taking steps. It can be used for crafting NFTs, minting Habitats, converting to energy to level up, and refining crystals.
Vested Airdrop: 20,000,000 KI will also be airdropped to GENE Stakers based on their staking reward weight over a period of 90 days starting at the end of the launch. A snapshot will be taken on June 18th, 2022 at 23:59 UTC to confirm eligibility.