The moment has come and we are about to burn all the extra pools of KickCoin that have remained undistributed since the end of our ICO campaign. The reason why we are going to burn them is, first, preventing anyone from getting a hold of these pools, and second, increasing the value of the circulating volume of KICK. However, the whole thing is not as simple as it used to be at first sight.
Despite all the guidance and devotion our consultants and advisors contributed to help us design our economic model, it is not entirely flawless. For instance, wishing to make KICK more appealing, we made a monthly bonus — KICK airdrop — to give extra KickCoins to holders, and this is going to last for yet another 1,5 years. Then, KICKICO as a whole and personally I invented the infinite emission of 4%, which will inevitably inflate KICK if nothing is changed. Furthermore, we utilized the Ethereum blockchain to create our token, which back at the moment seemed the only rational solution; on the other hand, now the market has changed and this approach is to become obsolete in the future. Finally, we made our beta release a bit too early, when we could not provide our full functionality, which distorted the overall understanding of the whole KICKICO concept among our community members.
Prior to our successful ICO, being fresh and lacking the experience, we did not have a clue about several important aspects and could not foresee all the obstacles, major and minor, in our path, otherwise we would have never make a decision to lose the reserves necessary to to get listed on some exchanges or to run promotional programs for our partners and contractors. We have a couple of examples to describe when such reserve is essential: two exchanges that will support KickCoin soon demanded 1 million KICK both for marketing campaigns in order to get us listed, attract new KICK users and make KickCoin Airdrops within the existing user pools. As a result, we can expand our community broadly by getting more and more people to know about KICK and by letting them buy and sell it on more exchanges. Thus, we accepted these conditions and have fulfilled the requirements, but this would have been impossible if we had had no KICK reserve.
In addition to that, we have by now already used 7,788,433 KICK for Marketing&PR, authors, advertising and traffic, which means out of the initial 42 million KICK remaining in the reserve, we have 34 million left, and, frankly speaking, we would not even think of burning it now, since it has become a natural payment tool. Nevertheless, we have promised to burn the reserve and we will burn 20 million KICK right now: the other 14 million will be left for the sake of promoting and developing, which will only serve to the best of our community and holders, who are waiting for KICK to go to the Moon. The 14 million reserve will be used to pay for listings, Mass Media, competitions and awards and so on, and so forth. Please, see the following screenshot or visit the wallet address to check the numbers:
The second part of the story is no less important than the first: we now void the infinite emission letting KICK go with the flow: as mentioned above, every backer who supported a campaign at KICKICO with ETH gained a 4 to 8% cashback in KickCoin. These KickCoins were created out of nothing, which could result in great inflation and KICK devaluation, especially in case of large campaigns. Previously we believed such strategy would mitigate some risks for campaign participants: in case the campaign fails, every participant will at least have some KICK remaining. However, the current stage of the market doesn’t work that way, and there is no point to support one crowdfunding campaign with our cryptocurrency this way: due to the rapid price increase of the main cryptocurrencies it is no longer profitable. Besides, during an ICO backers get tokens and discounts anyway. Stepping a bit ahead, I would like to tell you we already have created a solution to this problem and we will soon unveil it to the public.
Now, having us nulled the 4% cashback, KickCoin no longer has unlimited emission, which means it will not increase in quantity unpredictably. Besides that, considering the commissions and fees we burn at the platform, KickCoins will actually only decrease in volume, which will result in higher demand to supply ration and consequently cause the price growth. Furthermore, a top exchange representative says the only reason they do not list KICK now is the infinite emission. We hope this is so and soon enough we will be listed at your most desired exchanges.
To draw the bottom line, I would like to say this is still the very beginning of many major updates we are going to bring to you. We have the most loyal, patient and passionate community and we truly value that: we are glad and honored to work for you and with you every day and we are right now in the process of preparing a couple of great surprises that you could not find in our White Paper, it is going to be something totally new — so follow our news and keep track of the KICK rate, it will soon please you a lot. Join our publics and channels not to miss the most important stuff at Telegram (eng), Twitter (eng), Facebook(eng), Facebook group (eng), Reddit (eng)