Mario Bautista
RoboKiden, a popular blockchain based game, has announced the much anticipated launch of its $KIDEN Initial DEX Offering (IDO), scheduled for September 30, 2024. This event marks a major moment for both the game’s community and prospective investors, as it offers the first opportunity to obtain $KIDEN, the official token of the RoboKiden ecosystem.
Here’s a comprehensive guide on everything you need to know about the $KIDEN IDO, how to participate, and what makes the token so valuable in the RoboKiden universe.
What is $KIDEN?
$KIDEN is the core currency within the RoboKiden ecosystem, serving as a utility token that powers various in-game transactions. Players can use $KIDEN to purchase loot boxes containing rare and valuable NFTs, which can be used to gain an edge in battles. Additionally, $KIDEN enables players to buy NFTs directly from the marketplace, giving them access to exclusive in-game items that can strengthen their characters and bots.
Beyond its role in asset acquisition, $KIDEN has a deeper role in the game’s economy. It allows for progression by upgrading skills, weapons, and bots, unlocking new abilities, and customizing the player experience. In short, $KIDEN is a crucial element that offers strategic opportunities and personal customization.
Key Features of $KIDEN
The $KIDEN token offers several features that enhance gameplay and provide users with economic opportunities within the RoboKiden ecosystem. Players can use $KIDEN for in-game progression, upgrading their characters, bots, and skills, including unlocking special abilities like emotes and kill bands.
Additionally, players can earn free NFTs by completing daily quests and advancing through the season pass, which not only rewards $KIDEN but also exclusive skins and NFTs, further enriching the gaming experience. The in-game NFT marketplace allows players to purchase NFTs, which can be used to farm more $KIDEN while playing.
A key aspect of $KIDEN’s design is its deflationary mechanism, which burns 2.5% of the tokens in circulation during each game session, helping to maintain a balanced economy and increase the token’s long-term value.
What are the Requirements to Participate in the $KIDEN IDO
To join the $KIDEN IDO and acquire tokens, there are a few steps that prospective investors need to follow. Participation is limited to users who hold roles within the Elixir Games platform, and they must undergo a KYC (Know Your Customer) verification process to ensure compliance with regulatory standards.
Additionally, users are categorized into various tiers based on their stakes within the platform, which directly affects their access and allocation in the IDO.
IDO Structure: Multiple Rounds for Fair Distribution
The $KIDEN IDO will be conducted in four rounds, allowing for a fair and structured token distribution. An IDO (Initial DEX Offering) is basically a type of fundraising event where a project launches its token on a decentralized exchange (DEX). It allows investors to acquire the project’s tokens at an early stage.
Each round offers different levels of access depending on the user’s stake in the platform or their NFT holdings. Let’s break down how these rounds will work:
Round 1 – Tier Holders Round (Guaranteed)
The first round is reserved for Tier Holders, individuals who have attained specific staking tiers within the Elixir Games platform. This round has a guaranteed allocation of 300,000 USD worth of $KIDEN tokens. Users will need to have a verified Elixir account, complete the KYC process, and meet the minimum staking requirement to qualify.
A snapshot of eligible participants will be taken one hour before the round opens. The base allocation for each tier will be calculated based on the number of participants and the available pool weight. Here’s a theoretical example:
- Planktons: 100 participants, base allocation of 1,114 $KIDEN per participant
- Shrimps: 30 participants, base allocation of 3,064 $KIDEN per participant
- Dolphins: 20 participants, base allocation of 7,799 $KIDEN per participant
- Sharks: 10 participants, base allocation of 22,284 $KIDEN per participant
- Whales: 5 participants, base allocation of 83,565 $KIDEN per participant
Round 2 – NFT Holders Round
The second round is open to Elixir Flask NFT Holders, allowing them to purchase any remaining $KIDEN tokens from Round 1. To participate, users must link their wallets to the platform or use the Elixir Wallet. They also have the option to stake their NFTs to receive more allocation. However, note that the NFTs used in this round will be burned after participation, with the amount of $KIDEN allocated depending on the traits of the NFTs.
- Without Traits: 50–100 $KIDEN
- One Trait: 100–175 $KIDEN
- Two Traits: 175–500 $KIDEN
This round incentivizes long-term players and collectors who have held and staked their NFTs throughout the game’s development.
Round 3 – Tier Holders Round (First Come, First Serve)
In the event that any tokens remain unsold after the first two rounds, a second round for Tier Holders will be held. Unlike Round 1, this will operate on a first-come, first-serve basis, with allocations multiplied by a factor—usually by x3 or x5. However, allocations are not guaranteed in this round, so users need to act quickly to secure their tokens.
Round 4 – Public Round
The final round is open to the public, giving all users with a verified Elixir account and KYC approval the chance to participate. Any remaining allocation from the previous rounds will be distributed in this round, with a minimum ticket amount required to enter.
How $KIDEN is Distributed
The $KIDEN token will follow a structured distribution model to ensure long-term sustainability. The total supply of $KIDEN is capped, and tokens will be allocated to various areas of the RoboKiden ecosystem, including gameplay rewards, staking incentives, and marketplace transactions. (see image)
Additionally, the deflationary mechanism in place—where a portion of tokens is burned after every game—ensures that the supply of $KIDEN remains balanced, preventing inflation and helping sustain its value over time.
