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KRRX: The Key To Cryptocurrency-Fiat Ecosystem

3 mins
Updated by Shilpa Lama
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Kyrrex, a global investing, payment, and financial ecosystem and the world’s first digital bank has announced the launch of the presale round for its KRRX Token on October 25.

KRRX is a native ecosystem utility token of Kyrrex with broad use across features and services. 

First, what is Kyrrex?

Kyrrex is bridging the gap between the banking sector and the cryptocurrency markets by offering products and services relevant to a broad range of individuals and entities. Global accessibility combined with the reliability of traditional banking reflects the platform’s versatility and novelty on a global scale.

Launched in 2018 by Viktor Kochetov & Mykhail Romanenko, a cryptocurrency-fiat ecosystem Kyrrex has become a wide set of products and services. Kyrrex is a helpful and secure instrument for users who work with digital assets daily. Today, its main product is Kyrrex Crypto Exchange, where various cryptocurrency transactions are performed. Based in Malta, operates worldwide and has an average 24-hour trading volume of about $30 million due to the official site.

It recently obtained a Class 4 VFA Service Provider license in Malta, proving its reputation as a reliable partner in cryptocurrency matters.

Under the Class 4 VFA License, Kyrrex will provide its VFA services to experienced and novice investors in full compliance with the EU regulations. It includes VFA exchange management, own account transactions, and custody and control of client assets. Class 4 VFA License by the Malta Financial Services Authority (MFSA) makes Kyrrex one of the few cryptocurrency exchanges to have received such recognition.

KRRX token benefits and features

The most interesting feature is the KRRX token which implies different conditions for interacting with Kyrrex services and functions. The best part of the token is that it provides exclusive benefits for all KRRX holders. For example, it makes trading commissions lower.

Specifically, the platform will assign each account into the general, beginner, pro trader, insider, institutional, and market maker categories. Furthermore, Kyrrex will be offering discounts on all trading fees.

Check out KRRX distribution

Public market: Kyrrex is planning to issue 50.0 percent of KRRX on the market in three separate public rounds with full availability in the marketplace: 

  • The platform has completed the first private sale round.
  • Kyrrex is currently carrying out the second round, namely presale. The platform will offer the discounted price of KRRX/US$ 0.7. 
  • The full price during the third round of listing on the top-tier exchanges at the end of November 2021 will be KRRX/US$ 1.0 for KRRX 150,000,000. 

Operational needs: 20.0 percent of the supply will serve as working capital for covering operational needs with the preemptive purchasing right held by the team.

Lock and release: the platform will lock the remaining 30.0 percent of the tokens for 4 years with subsequent releases every 6 months and availability on the platform. Kyrrex will not release more than 20.0 percent of the original amount in each respective interval. 

Use of funds: Kyrrex will allocate the raised funds for the development of ecosystem products, marketing, legal support for obtaining licenses in the new regions, as well as insurance funds. The mentioned categories will account for 45.0 percent, 35.0 percent, 10.0 percent, and 10.0 percent, respectively. 

The platform will burn part of the tokens received as commissions every quarter. Specifically, the disposal will concern at least 50.0 percent of the issued tokens. 

Finally, better to pay attention to Kyrrex & KRRX key features

The social trading feature will enable users to follow other traders at a fixed fee. The payment methods available are fiat currencies, cryptocurrencies, or KRRX tokens. The traders collect full fees paid by their subscribers. 

The multi-account management will include the trading services of a manager or a trader in exchange for the share of the profit made. The traders will gain the ability to receive bonuses upon the acceptance of the KRRX tokens. 

The referral program will also offer bonuses after a user attracts 3 or more of their peers. The implementation of the three latter features will occur in the first quarter of 2022.

The online banking feature expected in the fourth quarter of 2022 will offer a 20.0 percent cash back for purchases within the app, a 3.0 percent on card transactions. Such a feature will also contain discounts, increased cashback, and payment widgets. Users who pass verification on the exchange will be receiving 20 KRRX tokens.

The project really deserves every user’s attention, join Kyrrex socials here to stay on top.

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Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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