The total number of tokens set for this event is 4,000,000 KTY, and the bidding process will end in three weeks.
The exciting thing is if the available tokens run out, let’s say at $0.80, it doesn’t matter how much you had bid, but everyone will get the KTY tokens for $0.80. Once the bid period is over, the actual sale will take place. For example, there is a chance early bidders will start their bids at $1.94, but as time runs out, others will enter at a different interval like $1.80, $1.49, $0.99, and so on since the price is dropping with time. Bids will start at 0.00542 ETH right now, equivalent to $1.94, and the minimum bid price will be 0.00082 ETH/$0.29.Īs the bidding period takes place, the price will gradually decrease towards the minimum bid price. At the beginning of bidding, a certain number of KTY tokens are set aside to be sold by auction. If it sounds confusing, let’s try and break it down. This will help determine the cost of KTY by choosing the least possible price after the bidding period is over, and each participant will get to buy the tokens at that price, no matter how much they had initially bid. Auctionĭubbed the KTY Dutch auction, this event will precede the KittieFIGHT volcano yield farming, where participants will get the chance to set the price of KTY by sending bids. During a six month period, participants are rewarded handsomely in KTY and SDAO tokens. Owners of KTY tokens will have a chance to provide on-chain liquidity on the network by staking Uniswap liquidity tokens.
Then after the auction, they can use the KTY tokens to participate in a lucrative yield farming program that will take place on the Uniswap V2 pool. KittieFIGHT is offering fans of the digital pet game a chance to earn KTY tokens through an auction.
Almost three years since Cryptokitties took the crypto world by storm, it seems the game is back at it again, this time with KittieFIGHT, one of the games based on the platform.
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