Kyrrex, the global payment, financial, and investing ecosystem recently announced the presale round for the KRRX Token. As the world’s first digital bank, Kyrrex’s native ecosystem token proposes numerous services and features.
What is Kyrrex?
Kyrrex is the world’s first digital bank, bridging the gap between the crypto and the traditional banking sectors with services and products related to a broad range of entities and individuals. Its global accessibility merged with the reliability of standard banking measures shows its novelty and versatility on a global scale.
Released back in 2018, Kyrrex started as a cryptocurrency-fiat ecosystem. Viktor Kochetov & Mykhail Romanenko backed the system, offering numerous services and products to users. It is an ideal instrument for users dealing with digital assets routinely.
Many traders perceive Kyrrex Crypto Exchange to be the primary USP. The Malta-based platform undertakes crypto transactions and is operable worldwide. With an average 24-hour trading volume of 30 million dollars, it is one of the most popular exchanges worldwide.
Features and Benefits of KRRX Token
The best part about the KRRX token is its different features to access with Kyrrex functions and services. It comes with exclusive features like reducing the trading commissions.
The exchange will categorize accounts into the following:
- Pro Trader
- Market Maker
Different categories will get different discounts on trading fees. Here is an overview of the fees pattern:
KRRX Token Distribution
Public Market: The exchange is planning to issue 50 percent of the tokens in three public rounds to the general public with complete availability:
- Kyrrex has already completed the first private sale round.
- The exchange is conducting the second round (presale). It will offer the token at a discounted price of KRRX/USD 0.7.
- The price during the third listing round on top-tier exchanges at November’s end will be KRRX/USD 1.0 for 150,000,000 tokens.
Operational Purposes: The exchange will keep 20 percent of the supply as its working capital, covering needs while the team holds the preemptive purchasing right.
Lock and Release: Kyrrex will lock the remaining 30 percent for 4 years, with subsequent releases every six months. The platform will not release over 20 percent of the original amount during the interval.
Funds Usage: The exchange will allocate the raised funds to develop the ecosystem’s marketing, products, legal support for licenses in new regions, and insurance funds. The categories will account for 45 percent, 35 percent, 10 percent, and 10 percent of the stash, respectively.
Kyrrex will burn a part of the tokens received as commission every three months. The disposal will account for at least 50 percent of the issued tokens.
The exchange’s Social Trading feature will allow traders to follow experienced users for a fixed fee. Traders can pay the fee via cryptocurrencies, KRRX tokens, or fiat currencies. The fee will be provided to the followed trader without any deduction.
Its Multi-Account Management will consist of trading services of a trader or manager in exchange for the profit share. Users will gain the ability to incur bonuses after accepting the KRRX tokens.
Its Referral Program will provide bonuses when the user invites three or more new traders. The exchange will implement the three latter features in 2022 Q1.
Its Online Banking feature is expected to be released in 2022 Q4 with a 20 percent cashback for in-app purchases and 3 percent on card-based transactions. It will also contain payment widgets, discounts, and cashback. Users who pass the verification stage on the platform exchange will receive additional 20 KRRX tokens.