City of Panama, Republic of Panama, Sep. 19, 2023, Chainwire
Kunji Finance, an asset management platform on Arbitrum, has announced the upcoming IDO on two launchpads: Poolz Finance and GameFi.
The protocol connects asset managers to liquidity providers while partnering with platforms like GMX, MUX Protocol, and KyberSwap for long and short strategies.
Kunji Finance’s beta platform went live on Aug. 23, 2023, for 500 early adopters on the whitelist. Now, they are ready to launch their native token, KNJ.
KNJ serves multiple purposes, as outlined in the whitepaper. It offers principal cover for investors, plays a role in governance, and supports staking.
The protocol safeguards investment funds by using a Principal Cover structure that prevents mishandling of funds by managers and protects against significant losses. Investors are compensated based on their KNJ holdings and vault maximum cover.
The IDO is scheduled for Sep. 21, 2023, on both platforms, aiming to raise $450,000.
1.5 million KNJ will be available, from a total fixed supply of 100 million tokens.
The wallet whitelisting is open on Poolz Finance.
Chain: Arbitrum One
Token supply: 100,000,000 (Fixed)
IDO allocation: 1,500,000
IDO price: $0.3
TGE market cap: $990,000
Following the IDO, KNJ will be listed on Gate.io and BitMart.
The listing date will be announced in the days ahead.
About Kunji Finance
Kunji Finance, a decentralized platform on Arbitrum, connects asset managers with liquidity providers. It enables asset managers to use their skills and access additional capital, generating trading profits for capital providers. These services are based on discretionary investment theses, including long and short strategies created by asset managers on the platform. This allows the creation of “hedge funds” for retail investors without regulatory ambiguity. Kunji aims to provide crypto hedge funds similar to what Uber does for limo services.
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