After a few weeks of discussions on the best course of action to keep building the Kawakami ecosystem, we have made the following decisions:
I know what everyone is thinking — again?!! The $KAWA token will be relaunched as a no tax token, with all current holders getting their supply share at 1:1 ratio on a new contract. The supply will be reduced however this will not affect the percentage of supply anyone will own as well as the dollar value of KAWA they hold. The token will be launched on Uniswap with liquidity added to V3 which means we will collect fees that will be used for project development.
One of the major reasons we decided to make this move is that we feel (as do many other people) the sell tax of 9% is too high which is a dealbreaker for people who were interested in buying KAWA but found the tax just too extreme. Another benefit of launching as a no tax token is that we will have more volume, and will get exchange listings easier.
The token relaunch process will be as follows:
A. Current holders will send in their KAWA tokens to the following team address:
This is the address that is the owner of the current token contract. Those who haven’t claimed their KAWA from NFT staking yet, I recommend claiming so they can send in their tokens. If you are unable to connect via WalletConnect, the devs are currently working on updating WalletConnect to v2 so it allows people to connect, it should be completed within 48 hours.
The deadline to send in tokens in order to receive new tokens is 4 weeks from now — February 14th.
Also the current contract will be paused today, January 17th, to disable trading, preventing people from buying or selling a contract that is no longer to be supported.
B. As our liquidity is locked for 100 years, we have no other way to drain the ETH in liquidity but to sell the tokens, this is the reason everyone will be sending their KAWA to the above address. Those who send in their KAWA will be airdropped the new KAWA at 1:1 ratio. Those who do not send in their KAWA will not be eligible for the airdrop.
C. The ETH gained from selling KAWA will be used for — liquidity for the new launch, first payment to the development team to continue building the product, marketing, and Brew Factory expenses.
The date and time of the launch will be announced once we have secured enough funds from the liquidity pool as well as pooling money as a team — next Medium article coming on Monday, January 22nd.
One of the primary reasons of our failure as far as delivering on our promises and creating a revenue generator for the project is the fact we tried to do too many things at the same time, which lead to none of the utilities being fully complete (tools, coffee, store, NFTs, game…). We will focusing on a smaller number of utilities we want to deliver before moving to the next goal. The utilities we will focus in the first stage are:
A. KawaTools — this remains the key to our success. We have the design files about 40% ready, the designer is already working on finishing them. In the meantime I am talking to the dev team that will be creating the core platform and they will begin working on the code this week. I will talk about the plans with KawaTools in more detail in the coming updates, for now I will just give a list of key features of it:
- Gemfinder search
- Fresh launch alerts
- Influencer alerts
- Memecoin dashboard
B. NFT Staking Generator — part of KawaTools, this is already a live and functional service but we have never truly used it to its full potential. We’ll be making minor code and visual upgrades and create a pitch deck and a strategy in order to start pitching to projects and start generating more revenue from it. The idea stays the same — projects can create their custom NFT staking pools, we set it up for them and host their staking for a price. We will also have a referral program for anyone bringing us projects that create pools on the platform.
c. Brew Factory — another part of Kawakami that is established but not connected to the ecosystem and the token yet, we will be spending some funds to integrate it into KAWA and do what we planned to do — use proceeds to buy back the token.
Once these 3 are fully operational and bringing in revenue, we will begin to expand and work on other ideas, new and old.
We will release a new whitepaper this week that will also include the short-term plans for our NFT holders too.