Burning of the Remaining 6,480KNV Tokens
Why is there a need to Burn the 6,480KNV Tokens? For what are these Tokens for?
- With the recent bugs upon the Farming Platform deployment, which pushes the Project Kanva to introduce the backup plan of launching KNV2 Utility Token, the allocation for the Ecosystem funds 27% (12,960KNV), which are initially intended for the farming, will not be needed anymore.
All 6480KNV has been already sent to the Liquidity Farming Contracts here:
KNV/ETH Pair — 0x1139AD38697E3157Ab788aD6feE48B36169a325b
DAI/ETH Pair — 0x55e679F6041B0eed168df28742Ac24B00D373Eb1
USDT/ETH Pair — 0xc8d938554F1cD0B0e2C17dbF75bff25bf17A236c
USDC/ETH Paid — 0xF673bF4027768aF3df7159d143986ED842960d06
These tokens are now useless and considered burned as no one will be able to farm KNV from the platform because of the error. (See details of the error from the Farming Platform Mainnet Launch: https://kanvadefi.medium.com/kanva-live-on-mainnet-d3f6c4019885
There are still remaining 6,480KNV unsent to mentioned addresses. These tokens needed to be burn to be fair to all of the token holders. It will result to lower circulating Supply of KNV tokens in the market. The team already burned 1400KNV + 6480KNV + another 6480KNV = 14,360KNV Burned!
Total Circulating Supply will be: 33,640KNV.
Official Token Burning Countdown:
KNV2 Utility token will be used in the Governance Platform that will be launched on Q1, 2021. KNV2 will allow supporters to submit their NFT to the platform. Full details of this will be announced soon.
Kanva farming Platform will still allow users to receive Palette (PLTE) points to farm NFTs on our future NFT Farming Platform.
To stay updated about Kanva, visit our website, and join us on Twitter, Telegram, Discord, and Facebook.
🔗Website: https://www.kanva.org/
📣Announcements: https://t.me/KanvaOfficialAnnouncements
🌎Community: https://t.me/KanvaOfficial
📢 Twitter: https://twitter.com/KanvaOfficial
📢 Facebook: https://www.facebook.com/Kanva-Official-104203498125611/
📢 Medium: https://kanvadefi.medium.com/
📢Discord: KanvaOfficial#6194
Official Kanva Telegram Bot: @faqhub_kanva_bot
