Kragx is a unique platform that seeks to solve many of the problems that investors encounter when attempting to use digital financial services. Kragx aims to support DeFi applications as a hybrid between the conventional centralized financial structure and decentralized cryptocurrencies. Decentralized finance is a network that allows small traditional financial programs to develop in a decentralized way. To be qualified as DeFi, a financial network should provide one or more decentralized functions. Dedicated to decentralized financial applications by investing, lending, swapping assets, liquidity pool, staking, yield farming and community reward governance, all while backed by the Ethereum 2.0 smart contract, KRX tokens can be used to invest, loan, swap and gain interest.
In Afrikaans, Krag means “power,” while X means “shift.” This simply means that users have governance privileges that they can use to conduct exchange transactions. They will use the KRX token to save, lend, exchange and earn interest on the Kragx network.
Kragx’s long-term DeFi objective is to broaden and democratize access to investment assets — both digital and traditional — while also heavily rewarding KRX token holders. Kragx intends to restore financial control to the end-user in order to promote financial inclusion and democratization. The Kragx DeFi movement has introduced groundbreaking solutions in lending, exchanges, derivatives, settlements, automated market making and asset tokenization. Many of these cutting-edge services are permissionless and free, making them accessible to anyone with an internet connection. This will extend the scope of the new financial system to accommodate as many users and assets as possible while maintaining security.
With a small amount of KRX being introduced to the Kragx ecosystem every day, users will be compensated with KRX for borrowing, staking, issuing loans, depositing, providing collateral and engaging in liquidity pools. They get rewarded both for borrowing and providing liquidity when they engage in yield farming. Individuals with long-term deposits can augment their earnings or return on investment by participating in the KRX liquidity pool. Users are credited with KRX based on their share of the platform’s overall value and turnover.
On its website, Kragx is currently holding a presale that will run until June 4, 2021. The total number of tokens available in this round is 10 million KRX. A sum of 70 million KRX tokens were available for purchase during the presale, including the amount from the previous rounds.
KRX tokens will be distributed to pre-sale participants and will be traded on the Kragx platform for United States dollars, British pound, Bitcoin (BTC), Ether (ETH) and 10 other currencies once the platform goes live. The current price of 1 KRX is $0.20, with a 5% token bonus campaign running until the end of this round. KRX tokens can be purchased with ETH, BTC or Litecoin (LTC). Investors are advised not to use exchanges to make payments. Instead, they can go to the kragx.io website to register, submit their receiving wallet, and make cryptocurrency payments using MyEtherWallet, MetaMask, Mist wallet and other similar services.