KAMBRIA - In this announcement we would like to inform you of the Exchange transition for KAT ERC20 as we are leaving KuCoin home to a new one, and our updates on Kambria token plan.
In this announcement we would like to inform you of the Exchange transition for KAT ERC20 as we are leaving KuCoin home to a new one, and our updates on Kambria token plan.
Exchange transition for KAT ERC20
As you may already know, KuCoin has been home for KAT ERC20 since 2018. 5 years with many ups and downs, and now it’s time to say goodbye to find a new home.
The main reason is KuCoin’s requirement of trading volume is not in line with our capability. After several times of ST tag, now KAT is being delisted on this exchange.
Though we are sad and sorry for this situation, we would like to share our viewpoints on this for your understanding:
- Low trading volume has been an ongoing risk for KAT on KuCoin.
- In the short term, we have taken many actions to improve this weakness following common tactics, such as working with market making partners, burning tokens, KYTE swap… But they all did not work for us.
- As stated in the Tokenomics page, our project is more suitable for longterm investors. The daily trading volume at this stage is lower than other projects and would be more sustainable when the DAOs are in operation.
- From our observations, there are some “whales” who have accumulated a substantial amount of KAT and manipulated KAT prices with pump and dump games. We don’t know who they are, but we see it will harm Kambria community in the long term.
- With the mission to shape the future of technology where technology is open and contributes more to society, we are at the breakthrough stage of the inception of Kambria DAOs. We want to focus our efforts, resources and energy on it, as well as build the ecosystem with those who share the same views and values with us.
- So this time, we accept to end the loop.
- We appreciate the collaboration with KuCoin for the past 5 years. We have learnt a lot from this phase and those lessons are valuable for us in the next phase.
The arrangements for the delist on KuCoin
At this time Kambria team has not received the details yet. According to KuCoin team, they will post an official announcement in the next few days with details about the arrangement for the delist.
Please note that after delisting, the withdrawal feature is kept for 6 months, and get yourself prepared for the upcoming foreseeable volatility.
New home for KAT ERC20
We are preparing to list KAT ERC20 on another exchange in December, and will release the official announcement when it’s ready.
Kambria Token Plan update Nov 2023
The Token Plan Update presents our directions for 2024 such as Reward for KAT holders, Enact the roles of KAT in Kambria DAO transactions, and Privileges for KAT holders in Kambria DAOs.
Reward for KAT holders
In the Token Plan update Dec 2023, we have shared our target price as a goal in alignment with Kambria DAOs launch and fundraising.
As the DAOs launch and fundraising are taking more time, we would like to say sorry to the community that the goal achievement is being delayed. Anyway, please rest assured that we are committed to our vision and it’s just a matter of time.
From meetings with potential investors in the last few months, we learned that they are not ready to invest yet although interested in the DAOs - mainly because of the present economic scenario and the lack of prototypes / MVPs (minimum viable product) for technology solutions of the DAOs.
We are working further to get ready for the right timing.
In the meanwhile, we are grateful for your support and as a token of our appreciation, Kambria will allocate a reward fund of 20M KAT to Top 500 KAT holders in proportion to their KAT hold at 11/11/2024.
Enact the roles of KAT in Kambria DAOs transactions
During 2023, Kambria team has developed smart contracts to integrate to XDAO to tailor the design of Kambria DAOs model and enable transparency in DAO transactions.
Next step, we will focus on building a Model DAO to showcase what we have been developing, with the goal for this DAO to enter the commercialization phase in 2024, where KAT’s roles are enacted in Kambria DAOs transactions:
- Community members can use KAT or USDT to purchase DAO LP tokens and become DAO members.
- Manufacturers can use KAT or USDT to purchase NFT IP Licenses to become Production Partners of the DAO, to manufacture the DAO products at their local or countries.
- Community members can use KAT or USDT to purchase DAO products or membership.
- Payments for Dev Partners and other partners for the work in the DAO are in KAT and USDT.
In the Model DAO, besides playing the role of Organizer, Kambria will play the lead role in solution development and commercialization as a demonstration.
After that, we can aim to have 2-3 more DAOs to enter the commercialization phase in 2024-2025.
These DAOs will be in the verticals of AI, IoT, blockchain and AR/VR, with products and services close to our daily lives, so that everyone can participate in the DAO communities.
Privileges for KAT holders in Kambria DAOs
All purchases paid by KAT are discounted significantly to 50% versus paid by USDT. For example you can buy a pet care robot or assistant robot valued 1000 USD just with 500 USD in KAT.
By this KAT holders can enjoy good deals in Kambria DAOs ecosystem.
Moreover, KAT holders can also earn profits from reselling these products and becoming DAO Channel Partners at their local or countries.
We will share with you more details in the 2023 Year In Review and 2024 Roadmap report as well as Activity Announcements. Please follow our social channels for the updates.
Yours faithfully, Kambria.