The information about Kanga Exchange Token (KNG) is as follows: KNG is a utility token launched on the Ethereum blockchain, adhering to the ERC-20 standard. It serves as the native token of Kanga Exchange, a Polish-based cryptocurrency exchange that began operations in September 2018. The token is designed to facilitate transactions and services within the Kanga ecosystem, which includes a cryptocurrency exchange, physical exchange offices across Poland, an IEO (Initial Exchange Offering) tokenization platform, payment gateways, cryptocurrency-secured loans, and billing systems. The total supply of KNG is capped at 21,000,000 tokens, a number inspired by Bitcoin’s maximum supply, reflecting the project’s ambition to position KNG as a prominent exchange token in Europe. Its smart contract address is 0x471d113059324321749e097705197a2b44a070fc, and the token’s release is staggered over several years rather than being fully distributed at once.

KNG is the sole accepted payment method for fees across Kanga Exchange’s services. When users incur fees in other currencies (e.g., BTC), these are automatically converted to KNG via market orders, ensuring its integral role in the ecosystem. The token also supports a Proof-of-Stake (PoS) mechanism, allowing holders to stake KNG and share in the profits generated from transaction fees on the platform. This staking feature includes an auto-transfer system, where daily rewards are compounded, increasing the bonus over time. Additionally, staking KNG offers benefits like reduced trading commissions for makers and priority access to token auctions before IEOs, incentivizing long-term holding and participation. The exchange has expanded its reach by listing KNG on decentralized platforms like Uniswap, where significant liquidity was provided (e.g., $4 million in KNG/USDT in October 2021), and it operates a network of over 250 physical exchange points in Poland, with plans for broader European expansion.

The Kanga Exchange ecosystem emphasizes practical cryptocurrency adoption, offering features like cash withdrawals of stablecoins (oPLN, oEUR, oUSD) at ATMs or physical locations, and enabling users to send tokens using just an email address. KNG holders also gain access to exclusive opportunities, such as guaranteed allocation in IEOs via the Kanga Priority Pass system. The project has pursued initiatives like token buybacks (e.g., a minimum $1 million buyback announced in November 2022) and staking reward distributions (e.g., $500,000 allocated in 2022), with half of repurchased tokens redistributed to stakers. These efforts underscore KNG’s role in fostering a community-driven platform that blends centralized exchange services with decentralized finance elements, all built on Ethereum’s robust blockchain infrastructure.