The Relaunch — Everything You Need to Know
Kermit Finance will relaunch in under 48 hours, here’s what you need to know to get up to speed with everything.
What happened?
The $KERMIT token was exploited by a team member who had access to the private admin key that allowed them to inflate the supply and dump the tokens on the market.
Kermit Finance now has a new team, we are a group of anons who contacted the old team to give us access to the existing socials. Though, we could not get our hands on the domains. Kermit Finance is ready to come back stronger than ever.
The Relaunch
The new token will be relaunched at 9PM UTC on 10th Dec 2021. The new ticker will be $KMT.
There will be a snapshot of existing $KERMIT token holders at 9PM UTC. After that new $KMT tokens will be automatically airdropped according to the split to snapshot holders.
Moreover, there is a retroactive airdrop. Any wallet that has interacted with the KermitX DEX Serum Front End for a trade will be eligible for an airdrop. The snapshot for this was taken on Nov 7th 2021. There will be a seperate post giving more details about the retroactive airdrop.
A new Serum market will be created for the KMT token along with a Raydium Permissionless Pool.
Tokenomics
KMT will launch with the following tokenomics.
Max Supply: 1,000,000,000,000.00
Contract Address: DVEigNJZHWGFyiyKzURSK3jde2GV4Cw1RdQZCuGqL5Fg
1. 275 SOL ($50,000~) will be paired with $KMT tokens as a liquidity boost, this LP be sent a burn address, further reducing supply.
2. 275 SOL($50,000~) will be used to buy-back and burn KMT, on a schedule of ~19.65 SOL per day for the two weeks following launch.
Further burns will be announced after this period and we will use our platform fees to buy-back and burn additional KMT.
During the next 48 hours a new website will be live with a new roadmap, and with details about the project and the future to come. Social Media channels will be rebranded with a new logo and headers.
PS: We are looking for discord moderators that can help moderate the discord server, please drop us a message on Twitter if interested.
We’re excited to continue to build $KMT and the Kermit Finance platform.
We hope you will join us for the relaunch of $KMT, if you have any questions don’t be afraid to tag Kermit Finance on Twitter. A new discord server will be up soon.
