🪙KiX Platform Token

At the heart of our ecosystem is the $KIX platform token, an ethereum ERC20 token built on the Polygon blockchain. We have chosen the Polygon blockchain for our network as they are part of the Ethereum community, but with faster and cheaper transactions whilst maintaining a high level of security.

$KIX Utility

The native cryptographically-secure fungible protocol token of the KiX platform (ticker symbol $KIX) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the KiX platform, and which is designed to be used solely as an interoperable utility token thereon.

$KIX is a functional multi-utility token which will be used as the medium of exchange between participants on the KiX platform in a decentralised manner. The goal of introducing $KIX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the KiX platform without any intermediaries such as centralised third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer.

$KIX does not in any way represent any shareholding, ownership, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking. Nor will $KIX entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Panama, the Cayman Islands, Gibraltar, Singapore or any relevant jurisdiction. $KIX may only be utilised on the KiX platform, and ownership of the same carries no rights, express or implied, other than the right to use $KIX as a means to enable usage of and interaction within the KiX platform. The secondary market pricing of $KIX is not dependent on the effort of the KiX team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.

Further, $KIX provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on the KiX platform, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. $KIX is an integral and indispensable part of the KiX platform, because without $KIX, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the ecosystem.

Given that additional $KIX will be awarded to a user based only on its actual usage, activity and efforts made on the KiX platform and/or proportionate to the frequency and volume of transactions, users of the KiX platform and/or holders of $KIX which did not actively participate will not receive any $KIX incentives.

The most significant utility of $KIX is that users need to own and utilise the token in order to participate in the fantasy game of skill. All footballer DATs are bought using $KIX as the native platform currency, and when sold back to the DAT liquidity pool, the user will be able to receive $KIX.

In addition, all Winnings which are earned by players participating in the fantasy game of skill are paid out in $KiX, adding further utility to the token.

$KiX may be used to vote upon KiX governance matters, which would cover key issues and parameters of the platform. To vote $KiX must be locked, however DAT tokens may also be used to vote as a proxy for $KiX, the reason being that $KiX tokens used to buy DAT footballer tokens, are effectively 'locked' in DAT, albeit not for a fixed period of time. We do not want to prejudice the voting rights of users who wish sink all their $KiX into playing the KiX game.

KiX operates a token rewards program to incentivise traders, where revenue streams from games and token sales , i.e. commissions, are paid into the winnings pool, and then distributed to reward and incentivise active community members, partners, contributors and supporters. For example, there would be adhoc events such as KIX trade-athon (as described herein).

Trading $KiX

The $KiX platform token can always be bought and sold instantly on our platform through the KiX xyk AMM. $KiX will also be available to trade on other CEXs & DEXs, more details to follow.

$KIX Issuance

When $KiX is bought on our platform, it is either bought from our KiX xyk AMM or from our $KiX On-Demand Issuance Mechanism.

The KIX project is a DAO and a non-profit organisation, therefore all revenue from the issuance of tokens and other revenue streams, is applied by the Treasury towards user token reward programs to encourage community adoption, as well as internal treasury management purposes.

The only exception being that basic operational cost (that is not covered by funds raised from purchasers) which will be paid from Treasury revenue, and transparently disclosed.