Description
KAPS creates the first community-driven ecosystem consisting of a crypto- and blockchain-related discussion forum underpinned by a utility token supported by a stablecoin reserve in BUSD and used for subscriptions and as an incentive mechanism. The KAPS token is the heart of the ecosystem that offers a solid price floor through the creation of a stablecoin reserve through the ICO proceedings combined with a mechanism to reinforce it with transaction fees over time (from here on called reserve fees). The token has a fixed total supply that never increases and dedicates nearly 100% of the proceedings collected via its initial sale to the formation of this reserve. The project aims to continuously expand this reserve pool over time by dedicating 60% of all future reserve fees to it. The KAPS collected through the fees will be subsequently sold on exchanges and directly swapped to BUSD. The Reserve pool will be regularly audited, the results of which will be publicly available at all times. With this mechanism in place, KAPS will always have a solid price floor, since the circulating supply will be fully supported by the same value in BUSD. The remaining 40% of the reserve fees will be split between the community rewards and the project team. The project further empowers its contributors through a community forum that allows ecosystem participants to engage in discussions on cryptocurrency- and blockchain-related topics. KAPS encourages community members to be actively involved in the discussions and provide valuable information and insight by rewarding the top contributors with bonus KAPS tokens at the end of each month based on upvotes they have received from other users.
