Our Features
- Supply Burn
Coin burning is the action of removing coins or tokens from the supply, which decreases their number in circulation. To carry out coin burning, the coins are sent to a wallet address that only accepts coins but cannot carry out transactions.
For KingKong DOGE the 1% supply burn feature is made by deducting 1% tax instantaneously on all purchases and sales, and supply decreases, increasing the demand in return.
Supply burn will reduce the token supply and increase the demand. This burning mechanism, which is 1%, accumulates in all purchases and sales. The 1% part of the token goes into the dead wallet and that is the place where it accumulates and is burned forever. The most common reason for burning tokens is for deflationary purposes. We utilize token burning to make sure the value of KingKong DOGE stays stable or accrues value and therefore to create additional incentives for traders and holders.
- Timed Burn
Apart from the supply burn, KingKong DOGE also has a timed burn function that occurs on selling, the rate of which is 1%.
Another burn feature is that the tokens accumulated in the wallet are sent to the dead wallet and automatically burnt after 24 hours.
The tokens are accumulated in the burn wallet, also known as the dead wallet; hence, the total supply of tokens becomes less. Following the principle of 'the lesser the supply, the more the demand'. KingKong DOGE keeps its demand and value in check with the help of these burn mechanisms. Hence, ensuring a fully decentralized token.
What makes KingKong DOGE unique and different from the rest of the crowd is that it has two burn mechanisms;
Automatic burning, which is discussed above, and
Normal/Instantaneous burning, which happens every time a KingKong DOGE token is bought or sold.
This Multiple-burning mechanism helps increase demand, keep the Community engaged in the ecosystem, and maintain its value. Moreover, the token-burning process is a community process. Often, token holders or community members will encourage a community burn. This way, everyone burns a small number of holdings simultaneously, making a notable difference in the overall number of tokens in circulation and the token's value.
- Liquidity Pool
Liquidity pools drive our project forward! Tokens generated from these pools will be used to fuel development and support regular burns and buybacks.
We, the KingKong DOGE team, have no team token and have also locked liquidity for 100 years to prevent our Community from such thefts and frauds in every way and provide them with a 'safer than ever' meme and community token. This means that our developers or the entire team has essentially no rights to withdraw funds from the liquidity pool. This is beneficial for the team and the Community as it helps build trust in the project.
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