Konra

Posted by TheEmpress Posted on June 18, 2022

Konra Token:

Konra will serve as a merit system and a store of value due to it’s extremely slow growing scarce supply.

Here I will use Konra as an example to share vital basic information that you’ll see with each token.

0x4F1480ba79F7477230ec3b2eCc868E8221925072

Each token on the blockchain has a unique contract address, as you can see above. It looks just like a normal address but it’s so much more. In short it serves as an identifier of that particular token or smart contract. Contract Addresses are used for a lot of stuff in Crypto and DEFI. For instance in a DEX you can trade any token which has liquidity added by simply looking up and manually adding it’s Contract Address. In addition you can use this Contract Address to assure the token is really Konra and to check it’s progress and market activity on various market listings and blockchain explorers.

Name: Konra SEP20

Yeah I got so creative here but the funky name has a reason for being as it is. Normally you wouldn’t include the blockchain token type in the name but there were two versions of Konra when I established the token on SmartBCH. So I made it’s name Konra SEP20 to differentiate it from the SLP version thereof.

A token’s name is sometimes the same as the ticker symbol, but other time’s it’s slightly different.

Ticker: KONRA

This is the market ticker symbol; think of the funny letter combinations you see on a stock market listing. Back in the day many coins and tokens only had a 3 or 4 Letter ticker which is how you ended up with BTC for Bitcoin, ETH for Ethereum and BCH for BitcoinCash. I think they were trying to imitate the stock market in this. However, as the crypto currency community matured the ticker symbols ended up gaining a few letters and now Ticker Symbols can be multiple letters long. This carried over to KONRA which has 5 whole letters; it’s name! This was done so it’s easy to differentiate Konra from other Tokens and Coins. We don’t care about imitating the stock market, after all Konra is a currency not stock shares of a company.

Blockchain: SmartBCH Type: SEP20

There isn’t just one blockchain and there’s more than one token type. Quite a few people know BEP20 and ERC20; SEP20 is a similar type of token which lives on SmartBCH. Knowing this type of information is often important, especially when participating in airdrops to make sure you know which blockchain the token you’re trying to earn or win lives on. While you usually don’t have to know the “type” for casual use knowing it’s blockchain is vital so you can assure your wallet is compatible and you know which market listings and block explorers to check for it’s progress.

It’s almost like an evolution of blockchains had to occur before Konra could exist!

Ethereum came first, it was versatile but had huge gas fees and slow transactions. The Binance Smart Chain solved the fee problem, but gained a good amount of centralized control over their main protocol. SmartBCH solved both of those issues making a fully decentralized ecosystem with ultra cheap gas fees and near instant transactions. All of this is backed by a fully functioning scarce and valuable peer to peer currency, Bitcoin Cash.

Naturally Konra had to live on the best blockchain in the world SmartBCH!

Yes, you read that right, there are only one thousand five hundred and ninety nine Konra in existence right now.

Over half of the supply is in Liquidity pools across multiple Decentralized Exchanges (DEX’s).
150 tokens are locked in time locks.

This makes Konra an extremely Low Supply token; making it unique among most crypto currencies and tokens out there.

The Supply of tokens can be quite varied, from just a few thousand tokens all the way to a quadrillion of them.

Token Supply Specifics: Mintable and Burnable

A contract code of a token can specify several interesting thing about token supply besides the overall quantity.

For instance a token can be mintable, minable, non mintable, burnable or a combination of the above.

So some tokens are mintable this can occur via smart contract issuance (think DEX reward tokens) or be done manually. Others are minable, though in many cases their total supply is already set in stone.

Other tokens are deflationary and thus burnable allowing token developers to burn tokens. True burning is not to be confused with merely sending tokens to a 0x000dead address, which while it’s called burning tokens and gets them off the markets it still keeps them in the total token supply.

While other tokens grow too fast, Konra grows very slowly and deliberately as we kept the human element intact. On the reverse side Konra can also be burned completely thus fully removing tokens from circulation and the total supply forever. Hence there are 1299 tokens right now, one got burned.

This allows the Konra project ultimate flexibility which is practically unheard of in tokenomics.

Pretty nifty, right?