What Is KickToken (KICK)?
KICK is a promising cryptocurrency that holds a lot of potential in the DeFi space. Its ecosystem is continually developing and opening new opportunities for crypto enthusiasts.
On this page, you will be able to swap the KickToken (KICK) cryptocurrency to hundreds of different coins. Before you do that, you can learn about KickToken’s basics, its advantages, and its role in the Kick Ecosystem.
The KickToken cryptocurrency is the native coin of the Kick ecosystem, which is used to serve a wide range of purposes. This blockchain environment consists of many parts, resembling a Lego model of financial products:
- KickEX — a decentralized AMM exchange where users can swap tokens at low fees. KickToken is used to pay the fees on this exchange.
- KickICO — is a proprietary ICO platform of the Kick ecosystem. Here, developers can launch their projects, and users can participate in these ICOs by paying with the KICK crypto and some popular cryptocurrencies like BTC, ETH, XRP, etc. Worth noting is that the crowdfunding works on an Auction-Based Initial Coin Offering (AIO) model.
- KickRef — a referral program where users can get KickToken rewards when they get their friends to sign up to the KickEX exchange.
The KickToken cryptocurrency was released in late 2017 to support the KickICO platform. However, the system was entirely revamped only recently (June 2021).
The entire KICK crypto supply was swapped for a new version of the token, called KICK v8. As such, the system shifted to a proof-of-stake model, allowing holders to earn rewards with their KICK holdings.
More importantly, the entire supply of KICK was cut by 100 times. For each 100 KICK tokens, a new KICK v8 token was issued and distributed to holders. The rest of the tokens, around 85%, were irrevocably burned and destroyed in the process.
Within the new model, 5% of the KICK tokens needed for transaction fees are burned. This effectively moves KICK into a deflationary model. Thanks to this, KICK will become more scarce over time, and therefore, more valuable.
KickToken Price Index
KickICO was one of the most popular crowdfunding platforms during the 2017-2018 ICO boom. Consequently, the KickToken price skyrocketed at that time, reaching a new all-time high of $0.18.
However, when regulators began banning ICOs all over the world, the price of KICK crashed to a low of $0.000015. But the project slowly picked up the pace in 2020 and is back on track in the 2021 price rally.
Since the relaunch of the KICK exchange, the KickToken price has reached as high as $0.02. What is interesting about the Kick price chart is that it rarely correlates with the BTC or ETH prices. Consequently, savvy traders can use technical analysis and trade KickToken to USD independently from the rest of the market to make considerable profits.
Circulation of KickToken
Today, there are 1.5 billion KICK tokens in circulation. This is the number of tokens after the coin burn that took place at the end of June 2021. Before this, there were more than 1.2 trillion, which considerably diluted the value of the KickToken price USD.
The number of tokens in circulation is extremely important, as this is what helps cryptocurrencies be considered as a store of value, For instance, Bitcoin is considered a deflationary currency, because there can only be 21 million coins mined in total (in the year 2140).
After the coin burn, KickToken considerably reduced the maximum supply of the token. What’s more, every time a KICK transaction is executed, 5% of the fees will be irrevocably burned.
Because KickToken’s supply is entirely pre-mined, no more new KICK tokens can be created. As such, the burn feature means that the supply of KICK will ultimately reduce over time, and its value should go up in the process.
Ways of Buying KICK
The best way to buy KickToken is to swap it. Since the KICK v8 tokens are still fairly recent, no FIAT-to-crypto exchanges have listed them yet. Some choose the native KickEX exchange to convert their altcoins to KICK.
Godex.io is a great option for acquiring KICK. There are multiple reasons why this is the right choice for you:
- Full anonymity. No need to create an account to convert KICK on Godex.
- No purchase limits. We provide high liquidity and don’t have limits on how much KICK you can buy.
- Streamlined purchase process. To use our KickToken exchange, just provide your KICK wallet address and sign the transaction. It’s as simple as that.