KICK Swap And Token Burning Process

Fully licensed, next-gen crypto exchange KickEX have announced to conduct a KICK Swap as well as their token buring plans. Token burning is the irrevocable destruction of a certain number of tokens. This KICK token burning procedure won’t affect the tokens stored in our user’s wallets. Only coins held in the company’s accounts will be subject to this destruction. The critical purpose of burning is to reduce the available amount of tokens in circulation.

Token burning will take place on June 15, 2021 and the company is going to burn 85% of all issued KICK tokens without the possibility of their recovery. it will significantly reduce the number of tokens in circulation, increasing their value among holders and the percentage of tokens in possession of users relative to the total number of available tokens.

During token burning, the following will be destroyed:

• Test KICK tokens, which were created earlier for various experiments;
• Company tokens that were received in the form of trading fees from our users.

Aside from token burning, KICK Exchange will aslo conduct a token swap. The token swap replaces an existing token smart contract with a new one. This will entail changes in the total amount of tokens, their nature, the method of issue, circulation, and much more. This procedure will affect both company’s and user’s tokens

“The swap between the KICK and KICK v8 tokens will take place on July 1, 2021. On this date, the company will completely replace the current version of the smart contract with a new one.”

During the swap procedure, liquidity will be withdrawn from Uniswap and returned immediately after substituting the old token for the new one.

 KICK v8 is an ERC-20 token created in the Ethereum blockchain. For more detailed information regarding this activity, $KICK token holder must read this article carefully to fully understand how to swap your asset.

ABOUT KickEX
KickEXis an advanced-trading crypto exchange with the lowest trading fees and the most profitable referral program.

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