📖 See the whitepaper for a more in-depth view of the Kangal Ecosystem.
What is KANGAL?
KANGAL is the governance and value token of the Kangal dApps ecosystem. KANGAL holders are the stakeholders of the Kangal DAO and can create and vote on proposals that shape up the future of the project. KANGAL staking will be the only way to mint the Utility Token $TEAK which will power the dApps ecosystem which will start out with dApps built by the core team and eventually the platform will turn into a dAppStore where other developers, teams, or companies will be able to submit and publish their dApps. One of the first dApps of the platform will be an NFT drops platform which will eventually turn into a full-fledged NFT marketplace.
Technical Background and Tokenomics
KANGAL is an ERC-20 & BEP-20 token running on Ethereum & BSC and Polygon mainnet.
Max total supply is 100,000,000,000 & all in circulation. There was no presale or special allocations.
Starting liquidity is locked via Unicrypt for 10 years.
Kangal Core Team's one of main responsibilities is bootstrapping the DAO. This is an ongoing process that will get moving faster as there are more stakeholders active in the process. Below is the current situation:
Kangal DAO stakeholders are able to discuss ideas on any aspect of the project and initiate new proposals on the community forum. Voting for proposals take place on projects snapshot spaces, available for both ETH and BSC side.
The project aims not only to give Kangal DAO stakeholders the ability to create proposals and vote on them but also to give control of the main parameters of the ecosystem itself by making them configurable.
The first example of this ecosystem configuribility will be the stakeholders naming the Utility Token, and the APR rate for staking KANGAL and KANGAL LPs.
Utility Token and Staking Deployment
A Utility Token that will be powering the dApps ecosystem will be deployed. This token's supply & circulation will be 100% controlled by the DAO. The name will be decided by the DAO stakeholders as well. Emissions will only occur by staking KANGAL and KANGAL LPs.
Kangal’s price will display the whole Kangal ecosystem’s value, and the Utility Token's price will be driven by the return percentage rate for staking, burns, and fees gathered which will be driven by the transaction volume on the ecosystem usage.
Below are some of the initial plans related to what the ecosystem will get started with:
NFT dApp that will start with special drops, and then turn into an NFT minting and a marketplace.
Holders board, where you can define a handle for your wallet by burning some amount of Utility Token.
BURN board, where the messages left are sorted by the amount of Utility Token you burned for it.