Dear Kawa community,
After a fortnight of discussions, planning, development and testing, we are ready to announce everything you need to know about the $KAWA token relaunch!
TL;DR
- We took our time to test and confirm the safety and proper functionality of the new KAWA contract
- New token contract: 0x546aed37d202d607f45cbd2b8c0cad0d25fbe339
- New tokenomics with 1% reflections to holders and 2% to the dev fund
- New token gets deployed on September 3rd, 2021
- Airdrops will be sent out after launch
- Investigations still ongoing to get a hold of the rogue dev
- Important news on rebranding and exciting updates to follow after launch
As part of our new quality and security protocols, we didn’t want to rush the release of the token to ensure the contract is absolutely safe. This is why we took an extra week before announcing the relaunch. In addition to our lead developer creating and testing the contract, several team members also conducted an internal audit and carried out extensive testing on the testnet to confirm it’s safety and proper functionality.
First, why a relaunch?
Let’s put it very simply:
Since the team (made up of volunteers from the community) has no control over the old Kawa abandoned by the devs, and seeing the huge loss suffered by everyone from the exploit, we immediately agreed that a relaunch would serve us, and our goals better.
Date & time of the launch
The token will get deployed today, 3rd September 2021. As soon as the contract is deployed, liquidity will be added on Uniswap and airdrops sent to holders in 1:1 ratio - 100% automatically as previously announced. The exact time of the launch will be shared in our Telegram group and on our social media as soon as it’s live.
New KAWA tokenomics
The new token contract introduces a couple of simple reflection features to the relaunched token. Unlike the original token which had no extra features, the new one will include the following:
- 1% $KAWA redistribution to holders on every buy or sell transactions on Uniswap
- 2% $KAWA swapped to ETH on every buy or sell transaction on Uniswap and sent to dev fund
The reasons for adding these features are simple; we want to incentivize and reward our holders, as well as provide a steady income to the dev fund through tax on transactions, allowing us to build the ecosystem more easily by spending the funds on product development, marketing, and listings.
2% tax to the dev fund in ETH will be introduced to protect $KAWA market price. We decided it’s better to get it in ETH, than have to sell $KAWA instead. This tax might be reduced to 1% in the near future, but it’s necessary to boost our momentum as we take off.
Token details
Contract address: TBA on launch
Liquidity: 11 ETH / 33,000,000,000 KAWA (additional liquidity to be added in stages)
Total Supply: 1 Trillion
Market cap: $1,1m
Token price: $0.0000011
Minimum slippage: 3.5%
The initial market cap/price will be identical to what it was just before the exploit and token dump by the rogue developer. The starting ETH liquidity will be lower than what it was however, which means all trades will have greater price impact at launch.
This launch setup will create new trading dynamics, and coupled with the new reflection tokenomics should make holding more rewarding and trading more exciting. As the market cap increases the team will strive to add more liquidity to the pool.
Airdrops
As initially announced, the new KAWA will be automatically airdropped to everyone who had the tokens at the time of the farm incident in the ratio of 1:1.
Investors eligible for the airdrop
- All KAWA holders (investors that held KAWA in their wallets prior to the exploit.)
- All KAWA stakers on V1 farm
- All KAWA stakers on V2 farm
Note
- You still get the airdrop even if you sold after the exploit, as long as you held KAWA before the exploit.
- V1 farm is unaffected by the incident. All tokens stakes on V1 can be withdrawn and sold on Uniswap. Those who fall in this category will still get the airdrops.
Investors not eligible for the airdrop
- Anyone who bought KAWA after the incident. We released announcements on all our channels right after the incident and advised against buying KAWA, stating that we wouldn’t compensate those who bought after the exploit. We understand that many were trying to take advantage of the low price to hold more without realizing what was happening at the time but those who bought were/are still able to sell at no or minimal loss.
Rogue dev investigation
Our team is in talks with a blockchain forensics agency and have relayed all the information we have on this individual to their team, who will be conducting an investigation in order to find him. As soon as we have any important information, we will share it with the community.
As a way to make sure this doesn’t repeat itself, some of our team members will doxx themselves to show how committed we are to the project and the community. Also, we won’t be hiring/including anyone in the Development Team if they are not fully doxxed.
Short-term relaunch goals
As soon as the token is live for trading again and airdrops all sent out, the team will work hard to update all the published information to be in line with our new contracts and rebranding strategy:
- DEXTools notification on the outdated KAWA redirecting investors to the new KAWA page.
- CoinMarketCap and CoinGecko requests to update our token contract and tokenomics.
- Website and media updates to refer to the project as Kawakami.
- Make sure our marketing partners update their resources to link to the new contract.
We will be releasing full details about our rebranding and some exciting news the KAWA relaunch. A lot of marketing in the works as we are still in contact with our partners from before.
We are thankful to you, our awesome community for being so supportive throughout this phase, and we could not be more excited for where we are heading and the exciting things coming.
Let’s continue to tell the world about KAWA. Yes, we still need you, our community to support us and spread the word now more than ever before and show everyone what we’re made of. #KAWAISCOMING
