MoonKat Tokenomics Update: Community Is our pirority
As a community driven project our token sharing formula is of upmost importance to us and we will do our possible best to be transparent with it even when there are issues .
In our recently concluded in-house Tokenomics audit we discovered we miscalculated the initial token distribution and liquidity provision. This augmented our valuation and made the tentative listing price higher than it should be.
The initial Tokenomics had
Private — 1 BNB — 375,000 MKAT
Presale — 1 BNB — 225,000 MKAT
For this reason we have adjusted accordingly to a more realistic valuation by adjusting the presale token distribution and placing our valuation at a lower value and an initial market cap of $78,878
This places the presale token distribution at:
Private — 1 BNB — 1,000,000 MKAT
Presale — 1 BNB- 750,000 MKAT
Minimum — 0.2 BNB
Maximum — 2 BNB
Soft Cap:250 BNB | Hard Cap:578 BNB
Tentative listing price : 1 BNB — 675,000 MKAT
50% of funds raised would be used to provide initial liquidity
In an effort to keep the price healthy with the increase of presale tokens
The team has decided to vest the Presale tokens as follows : 70% at launch,2% daily after 2 weeks.
Private sale tokens would be vested as follows 50% at Launch, 2% daily after 2 weeks.
We believe these changes gives us a realistic valuation while keeping MKAT price healthy. We sincerely apologize for any misinformation.
What happens to the rest 20% ?
We will explain to bolster your trust in the community
5% airdrop/ marketing
1% Will be used for airdrops and contests. We have many campaigns coming soon, the remaining 4% will be used for marketing, where we will only release 10% at launch and 10% every month after, as seen in our tokenomics
The team tokens is cliffed for 6months. After 6 months, devs can only sell a maximum of 10 % of $MKAT in their wallet monthly. For the first 6months we all have to buy in the open market.
Devs can also collect their BNB. This is an incentive to keep us working hard and creating a long term project.
10% community development
This wallet will be used for raising capital for development cost: dev salary, future employees and development cost like server, software fee. The tokens itself will be cliffed for 2 months and will only be used for community development activities like CEX listing, certik audit and future initiatives like our NFT generator. BNB rewards collected will also be used to buy back MKAT and burn or sent to the reward pool to balance our in-built lottery payout.
Our team understands the current security concerns in the cryptospace which is even more rampant in the BSC ecosystem. There are several scam projects which take investor’s money and can’t deliver or just rug pull. That’s why we decided to be fully transparent about all of our work with our community and hope we land on the moon together.
Together we can build the future of Defi 🐈