8.3. Token Functionality

$KOL token in the King of Legends ecosystem is used mainly for 2 purposes: Staking & Payment.

The $KOL token serves a variety of functions on the platform or application that hosts them and can grant $KOL token holders distinct rights. Such permissions and functionality have broad implications for users, token holders, core teams, and partners built on top of tokenomics.

The ability to deeply visualize how the $KOL token will change in value in different situations depends in part on a clear understanding of the functions or rights that the $KOL token offers. Answer the following questions to understand the function of the token: what is a token use case? Why do users want or need the $KOL token? What value does the $KOL token bring to token holders? Questions regarding token functionality are also an important component of tokenomics, along with token metrics, circulation, and governance considerations.

Functions of the $KOL token:

Payment: the $KOL token is the only payment or value transfer method on the platform. Token Holders use $KOL to buy and sell items, and game characters and pay transaction fees on the NFT marketplace.

Staking: $KOL token holders will bring tokens to the stake to receive attractive rewards. The longer the staking time and the more initial investment, the more rewards you will receive. After 24 hours, users will receive rewards corresponding to the amount of $KOL staked.