Exchanges have long since evolved to become much more than just providing a means of exchange between different cryptocurrencies.
The industry is growing at an unprecedented rate, and despite the current bear market, users still need multiple solutions under one roof.
Kanga Exchange is a Poland-based cryptocurrency exchange that combines many different features and provides a complete user experience within a single platform.
What is Kanga Exchange?
Kanga Exchange offers a dynamically developing system of FinTech-focused tools and services designed to promote and facilitate the growth and adoption of cryptocurrencies.
Above all, the fundamental business area of the company is its cryptocurrency exchange – which was launched in September 2018.
However, since then the platform has grown at a steady pace and the service package now includes:
- Kanga Wallet
- Kanga Cash
- Kanga Pay, and more.
As a multifunctional cryptocurrency platform, the main product of the exchange remains the spot market, where users can trade some of the most popular coins, such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Chain link (LINK)
- Polygon (MATIC) and more.
The exchange has locations throughout Europe and beyond, such as Poland and the Czech Republic, and the founders also like to point to their presence in the United Arab Emirates as a starting point for expansion.
The KNG token
Most cryptocurrency exchanges have issued their own native token that powers their ecosystems. Examples include Binance’s BNB token, Uniswap’s UNI, and more.
The main purpose of these is to provide exchange users with various incentives and bonuses. Keeping this in mind, Kanga Exchange has also created its own cryptocurrency called KNG.
More interestingly, the platform becomes one of the first in Europe to carry out a landmark redemption of KNG tokens worth at least $1 million. The whole procedure will take place openly so that everyone can watch it live. It will begin on December 1 and will last 100 days.
In the interest of full transparency, the team also explained how these tokens will be distributed after the redemption.
Half of them will go for rewards as a sign of gratitude to their loyal users. KNG holders will receive staking rewards generated from all platform revenue.
Additionally, there will also be a KNG token engraving. The number of tokens that will be allocated for burning will depend on the market price of the KNG token at the time of redemption. The creators decided to allocate at least half a million for this.
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