Kanga Exchange is a dynamically developing system of FinTech tools and services aimed at encouraging and facilitating the widespread use of cryptocurrencies in everyday life. The main area of Kanga’s activity is the cryptocurrency exchange, which was launched in September 2018 and is available to users without KYC.
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$0.0169133 (24h: +7,25%)
$2 000 000
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Opinion of the Tenset team
Kanga Exchange is an innovative company on a global scale. The exchange took its first steps in 2018, and since then it has been constantly developing by adding new functions and updating its business model, focusing on a coherent ecosystem, which we will explain below. In recent years, Kanga.exchange has created a network of cryptocurrency exchange offices throughout Poland, now planning expansion throughout Europe, followed by the world in the coming years. This strategic cooperation will strengthen the Tenset ecosystem and make the 10SET token more recognizable and available for purchase at Kanga’s physical exchange offices.
A wide range of services and products targeted at Kanga users
What is the KNG token?
KNG is a utility token used to settle operations on Kanga Exchange. These are not only operations on the stock exchange – they provide a number of other services to the market, including cryptocurrency exchange service in physical exchange offices, IEO tokenization platform, payment gateways, loans secured by cryptocurrencies, billing systems facilitating settlements in cryptocurrencies. All fees for using the aforementioned services are collected in the KNG token as it is the only means of payment accepted by Kanga.
Features of the KNG token
So, if someone wants to use the stock exchange, do they have to buy KNG first? Fortunately not, as this would be detrimental to the entire project. The answer to this question results from the main features of the KNG token, which are:
- almost unlimited liquidity,
- automatic interchangeability.
When an operation is performed on Kanga Exchange, the fee is charged in the client’s currency and then automatically converted to KNG. For example, when a user is charged a commission in BTC, an order to buy KNG appears on the KNG / BTC market at the market price for the BTC amount charged. KNG tokens have many other properties: their supply is limited, they are divisible, according to the ERC-20 protocol, etc.
KNG Proof of Stake
Principles of operation
The Proof-of-Stake (PoS) mechanism enables KNG token holders to share in the profits from transaction fees charged on the Kanga Exchange platform. Every holder can deposit KNG, oPLN, oEUR and USDT tokens to a dedicated PoS account and receive rewards in proportion to the staked amount. Kanga shares the full revenue generated by the exchange in the KNG staking pool.
KNG Proof of stake mechanism explanation
Through the mechanism of PoS (Proof of Stake), the system of the market assigns daily prizes to users that stake KNG. The profit is a proportional part of the trading gain, shared between all PoS KNG users, which can be illustrated by the equation below:
PoS profit = charges in KNG * KNG staked on PoS / all KNG in PoS
oPLN, oEUR, oUSD
oPLN, oEUR and oUSD are stablecoin cryptocurrencies, native to Kanga.exchange. OMEGA cryptocurrencies can be withdrawn in the form of cash at an ATM or physical offices throughout Poland. The token is based on the Ethereum Blockchain. It is also possible to send to another Kanga user by using just their email address!