Genopets, the first move-to-earn NFT-based RPG metaverse, has announced the launch of its KI Token and Gene Staker Airdrop for today, June 20, 2022. The Genopets KI Token, which is the in-game utility token of the platform, is set to be sold in a special pricing launch at 15:00 UTC from June 20 through to June 23.
The sale event is powered by Strata and the dynamic pricing will start at $0.50 and gradually fall and rise every time KI is bought. This will create a unique curve to allow the community determines the fair price.
Also, Genopets has announced that 20,000,000 KI will be airdropped to eligible GENE Stakers. The eligibility is determined by the staking reward weight of the stakers over 90 days from the end of the launch.
Set your alarms!⏰
KI Token Launch begins in less than 24 hours.
See you on 6/20 at 15:00 UTC
KI Launch Page (will be live at launch)⬇️ https://t.co/3B56mr8dGm
KI Launch Details ⬇️ https://t.co/tVu7HQwzIk
— Genopets (@genopets) June 20, 2022
More Details about the KI Token Launch
KI Token is the in-game utility token on the Genopets platform. The team has decided to partner with Strata to use a Dynamic Pricing Protocol, which will enable all community members to participate in determining the fair market price of the token.
The sale of the KI Token will be like a dutch auction where the price starts at a high $0.50 and steadily reduce over three days. When more buyers purchase KI, the price will increase and when fewer people buy, the price will reduce.
This will make the price of the token increase and decrease all through the sale period until it sells out. Strata protocol is built on a Liquidity Bootstrapping Curve that uses an unequal weighted curve o achieve equilibrium over a period.
What to Know about the KI Launch Tokenomics
The first supply of KI Token will be available for sale at the launch and also airdropped to eligible GENE stakers. The tokens available for the launch event are 20,000,000, a third of the initial KI Token supply. The same volume of tokens is available for GENE Stakers and Protocol Designated Liquidity.
The starting price is $0.50 USDC, and the starting supply is 40,000,000 and 20,000,000 for 90 days. Overall, the outcome of the launch of the KI Token is in the hands of the community as they determine both the floor and highest prices.