A long time ago in a galaxy far, far away....
Kitty Inu, the guardians of inclusive fun, entered the metaverse to bring cross-community experiences and interoperability to the gaming and metaverse sectors through cryptocurrency innovation.
Driven by the battle cry “For the Community, By the Community,” Kitty Inu is determined to develop a Kitty Empire that captures the hearts and minds of digital asset enthusiasts around the metaverse, Inuverse, cryptoverse, and beyond.
With their sights set on community aspirations and interests, Kitty Inu believes that safety, security, and longevity are the foundational threads of their Empire.
Kitty Inu Recap
$kitty is the native token underlying a multifaceted, character-centric ecosystem that aims to bring the satire and community orientation of meme coins into the metaverse. This is achieved through the creation of an interactive,virtual being logo character.
Launched on October 24, 2021, Kitty Inu has over 7,500 holders of the $kitty token and at their all-time high reached $100 million in market cap.
This project has successfully implemented a BSC bridge, with the contract having been audited by Certik – a complete full security assessment of Kitty Inu’s Ethereum smart token contract. InterFi also completed a KYC verification of the lead developer and CEO of Kitty Inu on October 29, 2021.
While the names of the founders have not yet been released, it is for good reason. Kitty Inu has employed the help of a legal team at Squire Patton Boggs to aid in the process of establishing their formal business entity. Upon completion, all will be revealed!
Kittynomics
For the Community and By the Community
Not only is this Kitty frisky, fun, and a serious leader of the NFT, meme coin metaverse, Kitty Inu was founded on a strong set of standards and tokenomics.
Being an honorable cat begins with their opening hat-trick: a fair launch process, safety & security, and no team tokens nor venture capital.
Prior to the Kitty Inu token launch, there were no presales, no preferential tokens, and no venture capital (i.e., no team allocations). Instead, adequate notice regarding launch time and date was provided publicly to anyone interested in purchasing the $kitty token.
As shared by the Kitty Inu team:
“These "team allocations" are problematic by nature. They can force those most passionate about the project to sell against it to pay for their livelihoods, and/or risk accepting startup capital from individuals or entities who may not act in the best interest of the project in the long term.”
Token Tax
Alternatively, the Kitty Inu project is proudly pioneering the fee-on-transfer (“tax”) model to support 100% of the project costs. It’s an innovative way to avoid these pitfalls, and instead, create a project for and fully funded by the community.
The Kitty Inu team adds:
“Originally 10%, the fee-on-transfer (buys, sells, and wallet-to-wallet transfers) has since been reduced to 8% in December and is planned to be further reduced in the future as other sources of revenue are established.
This fee supports marketing, development, operational costs, liquidity provisions on decentralized exchanges, legal fees related to the project, and centralized exchange listing fees. It will ensure that the Kitty Inu team delivers on the aspirations and interests of the Kitty community.”
Since the tax occurs within the smart contract transfer function with no ability to distinguish between the origins of the function call, Kitty Inu suggests purchasing $kitty in the wallet you intend to store it in to avoid a tax on inter-wallet transfers. Kitty Inu recommends setting slippage to 12%-15% when purchasing.
Token Distribution
With the influx of projects launching on PancakeSwap turning out to be scams, it was paramount that the Kitty Inu project be designed to ease buyer concerns around safety and security. This is what they’ve done to date with their liquidity, lock, and burn features:
Decentralized Exchange Liquidity: 46% of $kitty tokens were paired with either Ethereum or BNB and added to the liquidity pools on either Uniswap or PancakeSwap, respectively. These tokens are fully circulating.
Team.Finance Locked: 28% of the total supply (1T) is locked on team.finance. It will be used for liquidity provisions for future centralized exchange listings. These tokens unlock monthly and are used if a CEX listing application has been approved. All of this requires a liquidity provision in order to be relocked for an additional month, particularly if no CEX listing has been approved or no liquidity provision is required. These tokens are not team tokens. Rather, they are only to be used to provide what is necessary to a CEX to list the token. In the event that too many tokens have been held back for this purpose, the excess will be burned. These tokens are not circulating.
Burned by Antibot: 12% of tokens have been bought by addresses flagged by antibot measures and should be considered burned as they cannot be sold nor moved. The two antibot measures implemented in the token smart contract include:
1) A hardcoded list of 28 addresses known to be associated with automated buying/selling. These 28 addresses can purchase the token, but they are prevented from ever transferring it to another wallet or selling it from their wallet, and
2) If a single wallet address sends two transactions to the contract in the same block (which is indicative of using automation), they would be added to the list of addresses that could no longer sell nor transfer the token. These measures provide a truly fair launch and prevent front running on the decentralized exchanges.
Burned by Development Team: 14% of “excess” tokens have been burned by the team since launch. To adhere to not having team tokens and only ever using tokens obtained via buybacks from the ‘tax wallet’ or from the team. finance unlocks for liquidity provisions. The Kitty Inu team realized, in certain circumstances, either too much was bought back for a specific listing or too much had been locked at the start for future listings, and therefore, they burned the excess.
Within this trilogy, Kitty Inu, the guardians of inclusive fun of the metaverse, discloses details on their inspiration behind Kitty Inu, KittyKart features, AI and other gaming developments, and the unveiling of the Kitty Empire
If you haven’t already, check out Part 1: Rebel Forces Strike.
Next up… Part 3: Kitty Inu is Reaching for the Stars…
To learn more, follow Kitty Inu, DexTools, Telegram, Twitter, Discord, Instagram, Medium, and Github. To purchase Kitty Inu, go to UniSwap or PancakeSwap.
