Kangal Token will integrate all of these essential aspects of the current cryptocurrency wave, DAO, Defi, and yield farming to create the ultimate multi-chain DAppStore.
What is Kangal?
Kangal is the Decentralized Autonomous Organization (DAO) building the ultimate App ecosystem. The project will integrate the Defi and Dapp system utilizing the DAO settings, where holders of the DAO tokens are privileged to make core platform decisions. The platform will become the hub on which dApp developers and creators can build/publish their dapp powered by $TEAK tokens.
Decentralized Autonomous Organization (DAO):
The core purpose powering the Kangal Token is its DAO ecosystem. In Kangal, the community holders are given the privileges to make platform decisions. The platform is essentially a community-driven multichain platform and will take decisions via its snapshot on both ETH and BSC sides.
The DAO will be the governance protocol where proposals are voted on and decided on by the community via its snapshot portal(see all the latest proposals). The token and DAO are 100% community-owned. The team has already used the governance protocol to vote on their utility token name. Overall, this feature grants users protocol voting rights.
The Kangal DAO ecosystem is available on both the Ethereum and Binance Smart Chain (BSC) networks, effectively making it a multichain platform. Kangal Token exposes the DAO platform to the increasing Defi members of two of the top chains in the Defi ecosystem.
ETH and BSC holders can take part in the Governance proposal available on the snapshot page HERE.
Decentralized Applications (Dapp):
Kangal aims to be go-to the Dappstore for blockchain developers and creators to publish their works. The platform plans to commence NFT minting, marketplaces, gaming apps, Defi tools, Lottery systems, and a lot more planned in the future.
Decentralized Finance (DeFi):
There is the staking side to Kangal, through its Governance token $KANGAL. The supply for $TEAK will be distributed as incentives to Kangal stakers and Kangal LP providers.
At the time of this review, the stake platform isn’t live yet; information regarding the staking interphase will be communicated via its outlets below.
In recent updates, the new website was launched; the platform update including the following notes:
New Website and Branding completed
54k KANGAL on-chain transfers
6800+ KANGAL holders on ETH and BSC
3650 community members on Telegram
8000 Followers on Twitter
Utility token name vote concluded, $TEAK won
Coinsbit bounty distributed
Meme contest #3 announced
New Turkish Twitter account
More progress on utility token and staking contracts
Whitepaper in progress
The platform employs a two token system;
KANGAL Token: This is the DAO token of the platform with fixed supply of 100 Billion 100% in circulation. There is 10 years of locked liquidity on unicrypt.
TEAK Tokens only minted through staking KANGAL token or LPs
Utility Token proposals & deployment
$KANGAL & LP staking
Kangal ecosystem release with first dApps and NFT drops
Official KANGAL merchandise
dApp Ecosystem Expansion: Lottery and Games
dApp Ecosystem Expansion: NFT minting
dApp Ecosystem Expansion: NFT marketplace
Higher-tier exchange listing
Turning the dApp ecosystem into a dAppStore
Marketing agreements for wider audiences
Kangal is a community-owned DAO, so feel free to speak up! You will be enabled to create more roadmap items via forum discussions & proposals.
Kangal and its LP staking are already planned. Together with the launch of its dapp ecosystem and expansions the platform aims to continue exponential growth. A higher tier exchange listing is also expected to follow.
Onchain governance, in addition to its snapshot protocol, will come in Q3. Since it’s a community project, DAO participants will have the opportunity to vote for more utility to the platform.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.