KICK token only on BSC: December 27
We’ve got some very important news for you — news will change the life of not just the ecosystem, but also the entire community. We’ve made a decision that we didn’t even expect ourselves for KICK token to be featured solely on the Binance Smart Chain network. This will make transactions cheaper, simplify all blockchain transactions, make it easier to add/deposit the token to the exchange, and remove all the controversy that has recently arisen in the community.
Our main priority is convenience and comfort for KICK token holders, as well as a healthy and friendly atmosphere in the community. A recent update that added the token to the BSC network upset this balance. Two different tokens were formed, the old one being in the Ethereum network and the new one in the Binance Smart Chain network. They were both traded at different rates on different platforms.
This split became awkward, adding to the discussions in our community, which were sometimes destructive. It seemed as if two different tokens had formed, the “old” and “bad” KICK token on Ethereum, and the “good” and “trendy” one on BSC, although this was certainly not the case. We had planned to make it so that conversion from one network to the other was free, but that wouldn’t have solved all the problems such as, for example, the incredibly high, unacceptable commissions on the Ethereum network, which practically paralyzed our deflationary model.
KICK will certainly return to the Ethereum network when Ethereum 2.0 comes out. Commissions will then revert to how they were before and will once again be reasonable for the vast majority of people — not just whales. This will be a full-fledged bridge and tokens will flow from one network to another, burning in one and appearing in the other. In addition, we plan on bringing KICK to the TRON and Polygon networks in the exact same way.
So what are the benefits of moving completely to the BSC network?
- Token unification — there won’t be any need to convert KICK manually. Everyone will receive the new KICK token automatically at the expense of the company;
- Rate unification — from now on, there won’t be two different tokens and ambiguity in regards to which rate is real and which is not. There will be one KICK token with an easy-to-follow rate;
- Transaction fees on the BSC network are very affordable. It will be available to everyone and will quite literally cost pennies;
- Our services will become more accessible, such as the kick.win lottery, which has already been transferred to BSC and is fully operational;
- Access to the Binance ecosystem is opening up, and KICK might appear there as well someday. The chances of that happening, at least, are much higher.
Our decision to switch entirely over to BSC was dictated purely by our concern for your convenience and comfort in token operations.
How the transition will happen
KICK’s transition to the Binance Smart Chain network will happen on the days leading up to New Year’s — December 27. All tokens will be automatically swapped from the Ethereum network to the BSC network at the current KICK (ETH) / USDT — KICK (BSC) / USDT rate. What other nuances need to be considered?
- If you have KICK tokens on other exchanges, it’d be better to move them over to KickEX to avoid unnecessary issues;
- The same goes for users who store KICK on custodial wallets (it’d be best to transfer them to our exchange);
- Staking and burning functionalities will remain, and things should become much more efficient seeing as the low commissions on BSC will open up transfers to everyone, and not just whales.
If your KICK tokens are stored on KickEX, in non-custodial wallets like Metamask or Trust Wallet, then you have nothing to worry about. On December 27, they will all automatically swap over onto the BSC network and we’ll soon be reunited with that one plain and simple KICK token that we all know and love.