KWT
[Updated on November 14, 2021 on token supply]

What is KWT Token?

KWT, or Kawaii Token, is the Governance token of Kawaii Islands.

1. Utility

Kawaii Token is the main cryptocurrency in the Kawaii Islands game, which is necessary in exchanging gaming assets.
Trading token: KWT will be used in our Marketplace to purchase game items. This will be one of the two entry points to the game, along with Rental Marketplace on TRAVA.
Players need KWT to buy gaming NFTs or any materials from the Marketplace and pay other fees such as special event or Certificate fees (Opening Home Decor, Nurturing,..).
They can exchange their game assets by selling their NFTs at aiRight Exclusive Marketplace for Kawaii Islands to get KWT tokens.
Special In-game Fees: Even though MILKY will replace KWT as the gaming token, KWT will still be used in some special cases. More details will be introduced gradually as new features come out.

2. Governance:

KWT holders have the right to participate in governing any policy decisions related to playing or spending within Kawaii Islands game in a DAO manner. Each proposal is raised via a voting interface in the game (coming soon) and only when the majority votes for its “pass”, the policy is applied.
  1. 1.
    Governance token of Kawaii Islands: DAO feature will be introduced following our roadmap and KWT holders will be able to propose and vote on important game decisions.
  2. 2.
    Investing token: As MILKY will be the gaming token which absorbs fluctuation risks from players, investors who believe in the growth potential of Kawaii Islands will be able to invest in KWT.
  3. 3.
    Share Revenue: As we announced, 20% of Marketplace profit will be shared to KWT holders on a bi-weekly basis, they will have to deposit their KWT into the pool to be captured. (More info at: https://t.me/kawaiiislands/130)

3. Farming:

KWT holders can earn KWT as rewards for their yield farming activities including providing liquidity or staking their KWT tokens.
For boost farming (stake NFT with KWT): https://kawaii-islands.airight.io/boost-farming

Kawaii Token Supply

  • The total supply of KWT is: 1,000,000,000
  • Initial Circulating supply at TGE is: 26,666,667 (2.67%)
  • Listing price is: $0.03
  • Initial Market Cap is: $800,000
  • Fully Diluted Market Cap is: $30,000,000

Kawaii Token Allocation

Allocation of Kawaii Token
The allocation of Kawaii token for different sections is as following:

Kawaii Token release Schedule and Vesting Time

At TGE, 2.67% of total Kawaii Token will be released from Private sale and Marketing and Listing allocations. This includes a release of tokens from IDO allocation, which will be announced in detail soon.
Private sale allocation is released 5% at TGE, and vested in 1 year (linearly releasing block by block).
Team and advisor allocations are locked for 6 months, and are vested for 60 months.
Other allocations are all gradually released, and vested for 60 months.
Please check the following table for vesting schedule and the following figure for releasing schedule.
Vesting schedule of KWT token allocations
Releasing schedule of KWT token for different allocations

Summary

This article has described the tokenomics of Kawaii Token (symbol: KWT), the foundational Governance token within Kawaii Islands ecosystem. The token plays three differently important roles: (1) utility, (2) governance, and (3) farming.
The supply, allocation, as well as releasing and vesting schedules have also been discussed. The commitment of the Kawaii Islands team for building a long-term project is reflected by a long locked time and vesting period.
Overall, the long vesting schedule will help with supply shock and inflation. Future burn of tokens will be announced when necessary.
KWT launched IDO on Polkastarter at $0.03 on October 12, 2021
In November 2021, Kawaii Islands introduced MILKY as gaming token and KWT stays as Governance token.
Last modified 7d ago