Quick Whale Update & AMA with the Team (Sunday, 6/27 at 6pm PST)

A few things + AMA coming up!

Whale Update:

Hello again, KURO fam! We’re at just about one full day after our successful token launch on Harmony (thanks to TokenJenny.ONE and VenomDAO) and wow, a lot has already happened!

Most notably, a concerned member of the public brought to our attention the fact that one whale was able to pick up around ~50% of the KURO token supply at launch yesterday, by using a bot to circumvent KURO’s whale-deterring mechanism (which you can read about here).

Of course, whales are of concern to everyone. We all want this project to succeed, and any individual holding that significant of a portion of the total supply is indeed worrying. We had an honest and open discussion with the whale-in-question on Discord about how to handle the valid concerns, and we were floored by their response:

The whale burned 100,000,000 KURO (valued at ~$30,000 USD at the time) to the “black hole” address!

You can confirm all four transactions below, each transaction having sent 25,000,000 KURO from the whale’s wallet to the burn address (0x0000000000000000000000000000000000000001). This was completed in four sequential transactions instead of one single transaction, due to KURO’s maximum transaction limit of 5% of the total token supply.

  1. https://explorer.harmony.one/#/tx/0xdbf888a4f7e5dc6ba4cfbf3533125786cd8980bad0613a642c72eeea7c4751ba
  2. https://explorer.harmony.one/#/tx/0x98e725b8d36788d48b94e628813ac6ed6fb0676c625d39545a407d89ad3e39f5
  3. https://explorer.harmony.one/#/tx/0x6bd5b066fefec49a3e34584273f6c8e8f55f2ae8873b2fd6606a4dce7b783150
  4. https://explorer.harmony.one/#/tx/0xaf0ed5d27fdc1d526a2408d0460158ffa7c961fe813d3d19c22d31a0a64860fe

What an incredibly selfless move — we are so grateful! This means 1/5th of the entire KURO token supply has been burned forever, leaving a total maximum circulating token supply of 400,000,000 KURO. (The actual circulating supply is less than this, due to the 1% automatic burn feature in KURO’s contract.)

We hope this alleviates any concerns that the public might have regarding KURO whales, and shows how deeply we are all invested in the wellbeing of the Harmony ecosystem! Please keep in mind, however, that whales cannot be completely eliminated in any project. We were just very lucky that our whale chose to act in good faith and burn their tokens for the greater good.

Join us on Discord tomorrow for an AMA with the KURO team!

AMA with the Team:

Lastly, we wanted to announce that our team is holding an AMA on Sunday, 6/26 at 6pm PST (Monday, 6/27 at 1am UTC). We apologize in advance for the poor timing for our Asia/EU friends. If there’s demand for another AMA in the future, we’re happy to host one at a time that works for more people.

Join us on Discord to participate in the AMA!

We look forward to chatting with you all!

Join KURO and friends!

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