Public Kwikswap ($KWIK) Tokenomics
- Vesting periods implemented for all token holders
- TGE 27.05.2021 2pm UTC
- Kwik Token Distribution breakdown
We are excited to announce the outcome and details of the KWIK token launch. Contributors were able to participate through token events on our website and also through MantraDao’s Zendit and CyberFi’s Samuarai IDO Launchpads.
Kwikswap is a Multi Cross Chain Swap Protocol with Layer 2 Scaling powered by Ethereum, Polkadot, Plasm, Reef Chain, BSC & Acala Network. KwikSwap is a decentralised protocol built primarily on the Ethereum Network.
KwikSwap allows the creation of token markets, own KWIK token, Non-Custodial wallet connection, no need for KYC, features layer 2 scaling and you always control your funds for a completely decentralized experience.
Kwikswap Protocol is a multi-cross chain DEX that is currently operating on Ethereum and Binance Smart Chain. (app.kwikswap.org and bsc.kwikswap.org)
Kwikswap DEX is also released on the PLASM Dusty Testnet that is available for testing from testnet.kwikswap.org.
We believe in a Decentralized Vision
James Lee “We are working tirelessly to deliver a fully automated decentralized ecosystem featuring multiple cross chains where new projects and startups can be nurtured through our Kwikstarter.org IDO Launchpad and be taken to market on our cross-chain Kwikswap.org DEX”
Mirza Usman “We are developing in new environments that others haven’t yet ventured into, it is challenging but rewarding. We believe our users will be happy with our releases”
End user security
We believe in offering only the best most robust decentralised solutions, that’s why we have partnered Halborn; the best auditors and security advisors in their class.
Kwikswap engaged Halborn to conduct a security assessment on their Smart contracts on May 31st, 2021 to June 10th, 2021. The security assessment was scoped to the smart contract provided in the Github repository Kwikswap
Smart Contracts and an audit of the security risk and implications regarding the changes introduced by the development team at Kwikswap prior to its production release shortly following the assessments deadline.
Though this security audit’s outcome is satisfactory, only the most essential aspects were tested and verified to achieve objectives and deliverables set in the scope due to time and resource constraints. It is essential to note the use of the best practices for secure smartcontract development.
Token Events (15%)
$KWIK is inherently a governance token that will play a vital role in the process of upgrading Kwikswap protocol and delivering other elements that increase the usability of the protocol. The Kwikswap Protocol team is committed to formulating a functional and theoretically sound governance model that will be released as per our roadmap. The Kwikswap Token IDO and Public Events plan was to originally allocate 60% of the total supply, however, pivoted to create healthier tokenomics and ended the sales early to accommodate this at ~14% of total supply.
Token Reserve / Treasury (50%)
The Token reserve will be used for KWIK token staking to assist in creating a more stable market and also greater stickiness to our ecosystem.
Token reserve use will be also guided by governance in regards to potential token burns and other topical items on the development agenda.
Staking rewards are paid from this fund wallet.
To sustain the Kwikswap Protocol ongoing operations and to provide development beyond the first five years.
External Development Fund (25%)
This will be utilised to assist in making targeted capital injections into high potential projects and teams that are attempting to grow the Kwikswap Protocol ecosystem, strategic partnerships, hackathon prizes and for community development activities.
These KWIK tokens may also be used to incentivise future Kwikswap Protocol core developers via token compensation packages.
Founding Team (5%)
Team Tokens are subject to the following vesting terms: 3 months cliff, then 12.5% unlocks quarterly for 2 years. We believe this should be standard practice for any team that is committed to making their project a long term success.
Marketing and Influencers (5%)
We will utilize this fund to assist in ongoing marketing and influencer/KOL engagements to ensure brand awareness and onboarding.