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Fair launch
With thousands of cryptocurrencies available today it became unbearable for end-users to differentiate legitimate projects from scams. The Kangal Core Team designed a fair launch mechanism in which there were no pre-mine or pre-sale.
One of the most common schemes to scam token holders in the recent rise of decentralized exchanges is a rug pull. A rug pull is a fraudulent act in which token holders abandon a project and escape with the funds of investors. Rug pulls are more prevalent on decentralized exchanges (DEXs), where criminals generate a coin, list it on a DEX, and then combine it with a successful cryptocurrency like ETH or BNB as part of a liquidity pool.
Malicious actors impersonating liquidity suppliers then empty the liquidity pool, rendering it difficult for investors to recover their funds or "pulling the rug" out from under them, essentially driving the coin's price to zero. Liquidity providers are issued "LP" tokens when a token is listed on DEXs like Uniswap or Pancake, which is an essential detail in this process. They can trade these LP tokens for other tokens or even use them for yield farming until they have them.
To make a rug pull impossible, all the liquidity of the initial KANGAL pool which started with 100% of the supply was locked in a Unicrypt contract. This liquidity has been locked for 10 years.
As being aware of the token launch first, the Kangal Core Team has personally purchased a stake of 9% of the total supply for their initial and future work. All other tokens have been purchased by unknown users on the free market. At no point in time did the core team receive any proceeds or bounties during the token generation event as all of 100 billion of supply was directly put into the initial pool on Uniswap.
Last modified 2yr ago