Kyrrex Is Launching the Presale Round of Its KRRX Token

Place/Date: - November 1st, 2021 at 12:43 pm UTC · 4 min read
Contact: Kyrrex, Source: Kyrrex

Kyrrex Is Launching the Presale Round of Its KRRX Token
Photo: Kyrrex

Kyrrex, a global investing, payment, and financial ecosystem and the world’s first digital bank, has announced the launch of the presale round for its KRRX Token. KRRX is a native ecosystem utility token of Kyrrex with a broad use across features and services. The token will also provide a range of exclusive benefits to the holders.

Key Characteristics

Token Ticker: KRRX

Token Name: KRRX coin

Asset Type: Token

Protocol: TRC-20 standard – TRON network

Current round: Presale

Round supply: KRRX 50,000,000 tokens

Total Supply (Cap): KRRX 500,000,000 tokens

Round duration: 25 October 2021 – 25 November 2021

Token Price: KRRX 1.0 = US$ 0.7

Token Distribution

Public Market: Kyrrex is planning to issue 50.0 percent of KRRX on the market in three separate public rounds with full availability in the marketplace:

  • The platform has completed the first private sale round.
  • Kyrrex is currently carrying out the second round, namely presale. The platform will offer the discounted price of KRRX/US$ 0.7.
  • The full price during the third round of listing on the top-tier exchanges at the end of November 2021 will be KRRX/US$ 1.0 for KRRX 150,000,000.

Operational needs: 20.0 percent of the supply will serve as working capital for covering operational needs with the preemptive purchasing right held by the team.

Lock and release: the platform will lock the remaining 30.0 percent of the tokens for 4 years with subsequent releases every 6 months and availability on the platform. Kyrrex will not release more than 20.0 percent of the original amount in each respective interval.

Use of Funds

Kyrrex will allocate the raised funds for the development of ecosystem products, marketing, legal support for obtaining licenses in the new regions, as well as insurance funds. The mentioned categories will account for 45.0 percent, 35.0 percent, 10.0 percent, and 10.0 percent, respectively.

The platform will burn part of the tokens received as commissions every quarter. Specifically, the disposal will concern at least 50.0 percent of the issued tokens.

KRRX Token Benefits and Features

The progressive system will allow the users with higher trading volume to enjoy the lower trading commissions. Specifically, the platform will assign each account into the General, Beginner, Pro Trader, Insider, Institutional, and Market Maker categories. Furthermore, Kyrrex will be offering discounts on all trading fees.

The Social Trading feature will enable users to follow other traders at a fixed fee. The payment methods available are fiat currencies, cryptocurrencies, or KRRX tokens. The traders collect full fees paid by their subscribers. The Multi-Account Management will include the trading services of a manager or a trader in exchange for the share of the profit made. The traders will gain the ability to receive bonuses upon the acceptance of the KRRX tokens. The Referral Program will also offer bonuses after a user attracts 3 or more of their peers. The implementation of the three latter features will occur in the first quarter of 2022.

The Online Banking feature expected in the fourth quarter of 2022 will offer a 20.0 percent cash back for purchases within the app, a 3.0 percent on card transactions. Such a feature will also contain discounts, increased cashback, and payment widgets. Users who pass verification on the exchange will be receiving 20 KRRX tokens.

About Kyrrex

Kyrrex is bridging the gap between the banking sector and the cryptocurrency markets by offering products and services relevant to a broad range of individuals and entities. Global accessibility combined with the reliability of traditional banking, reflects the platform’s versatility and novelty on a global scale.

Kyrrex was launched in 2018 as a crypto-fiat ecosystem which has become a wide set of products and services. Kyrrex is a helpful and secure instrument for users who work with digital assets daily. Today, its main product is Kyrrex Crypto Exchange, where various cryptocurrency transactions are performed. Based in Malta, operates worldwide and has an average 24-hour trading volume of about $30 millions.