In Brief
- Unexpected launch of $KURO token from Kuroro Beasts on October 30 via Believe App on Solana, not Ronin as anticipated, leading to community unrest.
- Price volatility marked the token’s debut, with an initial surge to $0.02 followed by a steep drop to $0.002-$0.003.
- All community tokens were made available without vesting on launch day, defying common practice in web3 gaming token releases.
Community Reaction: Mixed and Concerned
The launch of the $KURO token, tied to the Kuroro Beasts project, received a mixed reception from its community. The primary concern stemmed from the unexpected platform choice for the launch, with most members assuming it would be on the Ronin network. Instead, the release took place on the Solana network via the Believe App, catching many off guard due to the lack of prior detailed announcements, a deviation from usual launch practices. The community’s feedback ranged from disappointment to frustration, with members voicing concerns over the platform switch and the underwhelming financial return, some even noting that the returns were “lower than the transaction fees paid.”
Initial Trading Performance: Volatile Start
The trading debut of the $KURO token witnessed extreme volatility. After opening at around $0.02, the token’s value quickly plummeted to between $0.002 and $0.003. This instability led to significant discontent among investors, especially those who entered early expecting substantial gains. Further complicating the launch, some early trading links mistakenly directed users to fraudulent websites, an issue that the Kuroro team, along with partners Believe App and DEXScreener, promptly addressed.
Platform Choice and Strategic Alignment
The decision to launch the $KURO token on the Solana network via Believe App aligns with a strategic move towards embracing Internet Capital Markets (ICM) features, which promote rapid tokenization and broader engagement strategies. While this approach may benefit the project technologically and financially by tapping into newer trends within the cryptocurrency markets, it diverged sharply from the community’s expectations based on past communications, leading to renewed discussions and inquiries about the project’s direction.
Tokenomics and Future Outlook
Launching with 42.5% of its total supply, the $KURO token offered a notably lenient tokenomics structure to its community, featuring immediate availability of community-centric tokens like those from staking, airdrops, and referral rewards without vesting periods. On the other hand, the remaining 57.5% of tokens, belonging to the team, investors, and other partners, are locked for one year with subsequent vesting schedules.
Looking forward, Kuroro Beasts plans to broaden its horizons with new games, an animated series, and an expanding universe of digital offerings, potentially increasing the utility and value of the $KURO token. As the team navigates post-launch challenges and places a renewed focus on long-term strategies and community relations, the future of $KURO and its associated projects remain a critical focus for stakeholders.