On September 1, the KickEX exchange will buy back KICK at a price of $0.00015 per token
The crucial details and the mechanics of the very first KickToken buyback on the KickEX exchange
On September 1, 2020 at 12:00 (UTC), the KickEX cryptocurrency exchange will buy back KICK tokens (KickToken) worth a total of $100,000 at a price of $0.00015 per token. The buyback will be carried out only on the KickEX exchange and according to specific conditions. To participate in the buyback, token holders must register on the KickEX exchange, successfully pass KYC and place a limit order to sell KICK in the KICK / USDT pair in the 24 hour period before 12:00 (UTC) on September 1, 2020.
How does the buyback work?
The KickEX exchange buys back orders for sale with the KICK token at a price, not higher than $0.00015. The uniqueness of this redemption is in its fair mechanics — absolutely every participant who puts KICK tokens for sale in the KICK / USDT pair will be able to sell all or at least part of their tokens, provided their order is relatively small. Only limit orders will be redeemed.
Date and time: On September 1, 2020 at 12:00 (UTC), a buyback order will be triggered, and KICK tokens put up for sale in the KICK/USDT pair at a price equal to or less than $0.00015, will be bought in equal shares.
How do I get involved?
- Register on the KickEX exchange and go through KYC verification (usually takes 2–3 minutes);
- Deposit KICK (KickToken) or another cryptocurrency if you wish to buy KickTokens;
- Place a limit order to sell the tokens in the KICK/USDT pair (market and stop orders, including trailing stop, will not be triggered). A sell order can be placed until 11:59 (UTC) September 1, 2020, that is, almost until the very last moment before the buyback order is triggered on the exchange.
- Part or all of your order will be automatically filled at a price equal to or less than $0.00015 at 12:00 UTC.
Learn more about the buyback details
- During the period of the buyback, the previously placed stop loss orders for the KICK/USDT pair will not be active for all users.
- Starting from 11:59 (utc) and till the end of the buyback, users who have not passed KYC will not be able to place any type of orders, and stop orders will be inactive for all users.
- For users without completed KYC, any orders during the buyback period will not be executed.
- In case of unforeseen situations, the buyback procedure can be carried out with an increase in the time interval until the required result is achieved.
What will happen to the repurchased KickTokens?
The redeemed tokens will be removed from circulation and frozen forever — in practical terms, burned. Tokens are not intentionally burned so that there is no negative impact on the capitalization of the KICK token, and does not impact the token’s position in rankings. Perhaps later these tokens will be burned when their liquidation will not affect its ranking position. The results will be as transparent as possible and full details of the results will be published on our official website.
This buyback will be the first in a series of KICK token buybacks to be carried out on the KickEX exchange and is specifically implemented for a small amount, as this is an experimental buyback of tokens and a test of the mechanism. Each time the buyback mechanics will change, improve, and target different audiences: holders of a small volume of tokens, “whales” of the KICK token, and newcomers. Each new buyback will be more interesting, technologically advanced, and better than the previous one. You can follow the news and announcements of new token buybacks on the KickEX exchange.
Kick Ecosystem Team