The volatility of the crypto market unravelled today after the price of a new cryptocurrency called Kindness For Soul (KFSG) surged 206,567.57% propelling its price from $0.02084 to $43.06 in 24 hours.
The new coin started trading on January 13. It is currently listed on Crypto.com, PancakeSwap (V2), and CoinMarketCap, and it has set a new all-time high above $43, a price that it could maintain for some time or possibly build upon in the days to come.
The maximum supply of the KFSG token is 18 million tokens.
What is Kindness For Soul (KFSG) token?
The kindness For Soul (KFS) token is the native token of a new blockchain network called Kindness For Soul, which is focused on empowering its token holders through crowdfunding projects, and a reward system that shall offer them some passive income.
The Kindness For Soul was launched in Q3, 2021 by the Kindness For Soul team and its token started trading in January 2022.
The platform uses smart contracts to allow individuals to buy and sell KFSG tokens.
The KFSG token is self-deflationary. It uses a deflationary model that ensures its supply decreases with time instead of increasing as is the case with most cryptocurrencies including Bitcoin. As a result of its deflationary nature, the value of the token is expected to keep rising in the future depending on other market factors.
Whenever a KFSG token transaction is made:
- 2% of the involved tokens are distributed among KFSG token holders.
- 2% goes to KFSG Liquidity.
- 4% is set aside for use in strategic buyback & burns for KFSG tokens.
The token holders get access to Crowdfunded projects on the platform which includes land sales, seed sales, and real estate opportunities.
Kindness For Soul also has an interest-free lending platform, where users can take a loan using KFSG tokens as collateral. In using KFSG as collateral, each KFSG token given as collateral can take a loan of $1. This means if an individual wants a loan of $100, he or she requires collateral of 100 KFSG tokens.