$KIX Liquidity Program
Last updated
Last updated
At the heart of our core values is 'sustainability' and nowhere is this more important than in the provision of $KiX liquidity. The liquidity for the footballer DATs is already .
In similar products that use footballer NFTs to enter fantasy competitions there is little or no liquidity provision. The revenue from an NFT sale might be used to fund winnings, to pay for expensive licenses, fund operations, or to pay a dividend to it's shareholders, or indeed all of the above. You will never actually know. When you wish to sell your NFT you are on your own.
The KiX protocol is decentralized not-for-profit DAO. We are controlled by our community and our north star operational goal is to ensure that the market for our platform token is totally liquid. This liquidity can be any $USDT, or other tokens earnt, and would be applied towards user token reward programs to encourage community adoption - A prime example of this is liquidity provision for the XYK AMM.
Consequently proceeds raised using the from the issuance of $KIX, via the 400 million $KIX On-Demand allocation, and held within the treasury pool has only two applications:
To provide $USDT liquidity for $KIX trading pair. Effectively it is re-introducing the $USDT liquidity that would have been captured had the $KiX been purchased initially from the
To make up any shortfall in basic operational costs. This figure will always be transparent, as will be the operational cost itself.
We intend for the bulk of basic costs to be covered by funds raised from external purchasers. However from the KiX community perspective, funding operational cost through KiX issuance revenue i.e. selling $KiX to the community, is in fact cheaper for the DAO and the community, than through external funding. Fundraising would need to be done earlier at a lower price, consequently applying greater sell pressure further down the line. Notwithstanding, it's our intention that funds raised from external purchasers be used for this purpose.
By 'basic' we mean there are no deductions for expensive licenses, to pay dividends to shareholders, and no deduction to fund winnings, as this has already funded by trading commissions from DAT transactions. There will be oversight of these basic operational costs through the DAO.
* PLEASE NOTE: Under regulation KiX is not offered or promoted to UK users or residents. *