Unfortunately, this writing will not teach you how to purchase Ethereum, and all the basic skills that you need for purchasing Krakin’t tokens.
To read more about the presale mechanism, click here to see the light-paper.
If you really want to get technical, see the source code and documentation here.
However, to skip all the text below, just follow these links:
If you don’t know how to use the presale and the miner DAPPs, please read the following:
Foreword
A lot of things have been going on in the background, and we will give just a few highlights.
Within the first couple of days of a contract deployment, we have managed to collect 22 ETH. Today, this translates to $12,000 USD. In other words, we only had a deployed contract without any UI or documents. The word was spread only on the Telegram and Twitter. Although Krakin’t is making only 2% of a token purchase, our business model does not rely on funding from the block-chain. Therefore, we have a freedom of bringing the best rates and deals to the block-chain technology supporters.
If you ask yourself “Why should I purchase Krakin’t tokens?”, this is the right place to start your research.
First catch — you can make ETH by purchasing Krakin’t tokens
This works by applying a 4% fee to your purchase. 2% goes to Krakin’t and 2% is spread across the investors. However, you are always free to exchange tokens back to ETH, except the mentioned 4%. Nevertheless, more tokens you purchase, more earnings you make. It is important to mention that you can exchange only the amount of KRK that you purchased, regardless where the KRK tokens came from.
Second catch — Risk of losing money is only 4%
If you deposit 1 ETH, you are actually making a purchase with 0.04 ETH, since the 96% of ETH that you deposited is yours and can be taken back whenever you want. Therefore, the true 1 ETH purchase implies depositing 25 ETH. The GAS fees, however, were not calculated although they might be a bit higher than the fees you’d normally pay for other tokens. This is simply because Krakin’t is a micro-framework and not just a token. It is a network of smart-contracts and with an unique architecture. Our aim is the future of Ethereum network solving the scalability issue, and not the present affairs. Unfortunately, this comes with a higher price-tag. The reason why the risk is so low is because you can always exchange KRK tokens back to ETH, in case you decide not to hold.
Third catch — You can mine tokens without hardware or wasting any electricity
As soon as you make a purchase, you can place tokens into a miner contract, and start earning more tokens. The current earning rate is around 2% per day, and this number will decrease with time. Please visit our official website to read more about the miner.
Fourth catch — Varying purchase difficulty
The first couple of individuals who made the purchase were lucky, however, as soon as they decide to exchange KRK back to ETH, you can become one of the lucky individuals too. The Krakin’t algorithm is made to increase a difficulty (that is, price in ETH) when more purchases are made, and decrease when KRK is exchanged back to Ethereum. Purchasing mints new tokens into circulation, while exchanging burns the old tokens. This is how we are regulating demand and a supply. With the varying difficulty, we are also stabilizing the purchase price.
Fifth catch — The money loop-hole
If you combine swaps/exchanges, miner and the token sale, you can create a money loop-hole. Unfortunately, we will not tell you how, as we will be focusing on our products to bring some solid value to a token, rather than transferring the assets from one pile onto another.
The last point worth mentioning is that Krakin’t CANNOT take any of your ETH, and the use of a contract is your responsibility. The source-code for the contract is available here.
Presale UI
As already mentioned, the presale UI can be accessed by clicking here
No Metamask installed
If you have no Metamask installed, you will see the following:
You can click on the “Metamask Plugin” to open a new tab and install Metamask. We have also made a video on how it is done. Then, simply click on the circular arrow, top-right corner.
Metamask is not connected
If you have installed Metamask but not connected or logged-in the browser add-on, you will see the following:
Simply connect to Metamaks (it usually pops-up) and press the circular arrow, top-right corner.
NOTE: sometimes it may happen that you are connected but still see this screen. Wait a few seconds, and then press the circular arrow, top-right corner.
Metamask connected
Once everything is connected properly, you will see the first and the last letters of your private key and a message asking you to click on any hexagonal buttons. As you hover over the hexagonal buttons, the small screen will tell you what each button is for.
ETH to KRK
This is where you make the Krakin’t token purchase.
Simply enter the amount of ETH you wish to deposit, and press the “Send” button.
Please note, the Rate may display 0 ETH. If it does, it means that you don’t have any Ethereum deposited OR that your exchange rate is too low (the numbers are truncated).
KRK to ETH
This is where you get your money back.
The interface also tells you how many KRK tokens you will get if you deposit 1 ETH.
ETH Statistics
This gives you the overview of the ETH flow through the contract. If all numbers are 0, please wait, the interface is communicating with the ETH network…
- Your ETH tells you how much ETH has been deposited by you.
- Your fees tells you how much ETH you spent on fees (in total). This excludes the GAS prices.
- Circulating tells you how much ETH is on hold by the contract.
- Deposited tells you how much ETH was deposited since the contract deployment.
- Withdrawn tells you how much ETH was withdrawn since the contract deployment.
- Fees tells you how much ETH was spent on fees, by everyone, since the contract deployment. 1/2 of it goes to Krakin’t and 1/2 of it is spread to all investors that hold ETH on a contract.
KRK Statistics
This tells you the current state of KRK affairs within the contract. If you see 0 as the KRK amount, it means that you either have made no purchase or that the number got truncated. The Available KRK tells you how many KRK tokens you can exchange to ETH.
- Your KRK tells you how many KRK you can exchange to ETH (number is truncated).
- Circulating tells you how many KRK tokens can be exchanged back to ETH.
- Burned tells you how many tokens were exchanged to ETH.
- Minted tells you how many tokens were purchased (not circulating).
Earnings and Rewards
This is a fun part of the purchase contract. It tells you how much ETH you have earned. Unfortunately, Krakin’t account has not made any earnings (on purpose) that can be demonstrated. As you can see, we only have 0.001 ETH on hold.
- Your reward tells you how much ETH you have earned, if you exchanged all of your KRK tokens back to ETH.
- Without reward simply tells you how much ETH you have on hold
- Your total is a sum of a reward and the ETH you hold
- Shared Earnings is the amount of ETH that is given to all investors
Final words
This is the end of a document. We will be updating our white-papers and making videos about the presale user interface and advertising it while doing a lot of other things in the meantime. Please spread the word, and earn some ETH !
