[PRESS RELEASE – City of Panama, Republic of Panama, September 19th, 2023]
Kunji Finance, the asset management platform on Arbitrum, has announced the upcoming IDO on two prominent launchpads: Poolz Finance and GameFi. It is a decentralized platform that connects asset managers to liquidity providers. It has partnered and integrated with both spot and derivative platforms, including GMX, MUX Protocol, and KyberSwap, offering a platform where asset managers can run both long and short strategies.
Kunji Finance launched its beta platform on August 23, 2023, and made it live for 500 whitelisted early adopters and is now all set to launch its native token, KNJ.
According to the whitepaper, KNJ tokens will be used for providing principal cover to the investors, governance mechanism, and staking. The protocol protects investment funds in several ways. Their Principal Cover structure prevents managers from mishandling the funds users provide or major drawdowns and compensates investors based on KNJ staked and vault maximum cover.
The IDO will take place on both platforms on September 21, 2023, with a target raise of $450,000. With the IDO, 1.5M KNJ tokens are up for grabs out of a total fixed supply of 100M tokens. The wallet whitelisting is open on Poolz Finance.
Tokenomics of KNJ tokens
Chain: Arbitrum One
Token Supply: 100,000,000 (Fixed)
IDO Allocation: 1,500,000
IDO Price: $0.3
TGE Market Cap: $990,000
After the IDO, the KNJ token will listed on centralized exchanges, i.e., Gate.io and BitMart. The date of listing will be announced soon.
About Kunji Finance
Kunji Finance is a decentralized platform built on Arbitrum that connects asset managers with liquidity providers, allowing those asset managers to leverage their skills with access to further capital while generating trading-based profit opportunities for capital providers. The asset management services can be based on discretionary investment theses that run long and short strategies created by asset managers on the platform, enabling the creation of “hedge funds” for retail investors without any regulatory ambiguity. Kunji is to crypto hedge funds what Uber is to Limo services. Learn more: https://www.kunji.finance/
Read the full article here