KICKICO-KickEx:Legit business or scam in making?

[cryptoaddictchie]

Actually looking on this thread and see if there are people whom already tried out cashing out some of their kick tokens since the way now to retrieve or unlock it is use the platform by doing some trades.

I'm just confuse the ratio on how much it would unlock everytime we trade? For example you trade 400usd worth how much is gonna unlock on the kick token side. Like 1/4 or half of the supply already? Worse lower?

[Rikafip]

I'm just confuse the ratio on how much it would unlock everytime we trade? For example you trade 400usd worth how much is gonna unlock on the kick token side. Like 1/4 or half of the supply already? Worse lower?

This is from their website in regard to the unlocking of those "freezed" tokens

Are there any fees for the unfreezing procedure?

Yes, since the token has a smart contract on a blockchain, a certain fee is charged for each defrosting transaction. That is a dynamic fee charged in KUSD equivalent. For example, you want to unfreeze 888,888 frozen KickTokens at $0.000019 per KICK, which is $16.89, then you need to have $17 in KUSD on your account + fee = approximately $17.9 in KUSD.

What is a KUSD token?

To unfreeze the KICK tokens, you need to have KUSD tokens. KUSD is a semi-stable token on the KickEX exchange that is backed by proof-of trading and a fixed price within the Kick Ecosystem. The KUSD token is rewarded to traders for their trading volumes on the KickEX exchange. A trader receives 1 KUSD for every 4 USDT of the trading fee they paid. So the more you trade on KickEX, the more KUSD you have, and the more frozen KickTokens you can unfreeze.

So, in order to unlock those freezed 888,888 KICK you have to pay 72 USDT of trading fees. At first this seems very simple. But let's say that as a fee they take 0.5% (which is as far as I know pretty much standard percentage ) so in order to pay those 72 USDT of fees, you have to make trades worth of approximately 15,000 USD. Unless you are an experienced trader, chances are that you will loose some money while doing so. Then add on that that you will have to do KYC on that dodgy exchange, send your own money there etc, I doubt that many will bother with this.

But that is just the begininng. Bare in mind that math has been done when 888,888 was worth only ~17 USD, and now the price is ~20x more, or more precisely 335 USD, meaning that you need 335 of their KSD in order to unlock them. So now you have to pay 4x335 (1340 USD) in trading fees to unlock the tokens, meaning hundreds of thousands of dollars worth of trading.

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

[cryptoaddictchie]

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

Oh fuck that! Maybe I shouldn't claimed those silly airdrop. It's just literally annoyed me when I've checking my wallet on etherscan that the value in USD is display knowing all these facts that it's gonna take and cause us so many money to claim it. I wish they just unlock it the way it supposed to be cause this is really a dirty kind of marketing just to gain clients and traders.

[Rikafip]

Oh fuck that! Maybe I shouldn't claimed those silly airdrop. It's just literally annoyed me when I've checking my wallet on etherscan that the value in USD is display knowing all these facts that it's gonna take and cause us so many money to claim it. I wish they just unlock it the way it supposed to be cause this is really a dirty kind of marketing just to gain clients and traders.

Of course you shouldn't try to claim those, as chances are that you will loose way more while trading than those tokens are worth. I know that I would loose shit load of money in process as I am terrible trader

In the end demands are completely crazy and out of reach of anyone who real target audience of this airdrop is. After all, that's one of the reasons why they keep pumping and dumping

[DaveF]

So, in order to unlock those freezed 888,888 KICK you have to pay 72 USDT of trading fees. At first this seems very simple. But let's say that as a fee they take 0.5% (which is as far as I know pretty much standard percentage ) so in order to pay those 72 USDT of fees, you have to make trades worth of approximately 15,000 USD. Unless you are an experienced trader, chances are that you will loose some money while doing so. Then add on that that you will have to do KYC on that dodgy exchange, send your own money there etc, I doubt that many will bother with this.

But that is just the begininng. Bare in mind that math has been done when 888,888 was worth only ~17 USD, and now the price is ~20x more, or more precisely 335 USD, meaning that you need 335 of their KSD in order to unlock them. So now you have to pay 4x335 (1340 USD) in trading fees to unlock the tokens, meaning hundreds of thousands of dollars worth of trading.

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

No your math is correct. However as has been discussed

1) Their withdraw fees are, are at least were stupid high. So you loose that to.
2) It's a small exchange with limited coins.

Never forget: TANSTAAFL:

There
Aint
No
Such
Thing
As
A
Free
Lunch

Apply this to everything that is given to you for free, especially in the crypto world, and then figure out what the cost really is.

-Dave

[Beparanf]

Is there someone here successfully unfrozen there airdrop kKIK token? I've got tons of this token that I get during 2017-2018 airdrop and the current price is very tempting to redeem. I already read the mechanics of unfreeze for the token but I'm worried whether they will really giveaway there free token or not.

[Rikafip]

Is there someone here successfully unfrozen there airdrop kKIK token? I've got tons of this token that I get during 2017-2018 airdrop and the current price is very tempting to redeem. I already read the mechanics of unfreeze for the token but I'm worried whether they will really giveaway there free token or not.

I seriously doubt that you will find anyone who managed to unlock KICK tokens, as based on my little napkin math few posts above you would have to pay ~$1340 of fees in order to unlock 888,888 KICK. While doing so, you will probably loose few couple of thousands more, unless you are an experienced trader..

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

[Husires]

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?
people are willing kyc for 1000 dollars. 888,888 is much greater than what some would risk doing.

[Rikafip]

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

people are willing kyc for 1000 dollars. 888,888 is much greater than what some would risk doing.

888,888 KICK is currently worth only ~$250 so it's not as much as you think. And in order to unlock those tokens you have to spend amount several times higher than those tokens are worth, and while doing so you will probably loose even more money as if you are not an experienced trader, you will loose the money.

When you take all that above into consideration you will understand why noone in their right mind will try to unlock those tokens.

[cryptoaddictchie]

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?

If the value goes close to 5 to 6k then I maybe try to pull recovering it. But right now it's not that much si we will just waste time and money.

But spending a 500 or 1k usdt on something glike worth 10k above is worth it right? However no one actually speaks here in even though we knew there are dozens of account or 2wallet address received the 888,888 token of kickIco

[Rikafip]

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?

If the value goes close to 5 to 6k then I maybe try to pull recovering it. But right now it's not that much si we will just waste time and money.

You forgot the crucial thing here, and that is if the price of KICK goes up significantly so 888,888 KICK is worth $5-6k, that means unlocking of those tokens will become much harder too.

Remember, their unlock (or "unfreeze" as they like to call it) system is tied to the value of KICK, so as KICK price goes up, so the amount of KSD needed. So, if aidropped KICK tokens are suddenly worth 5,000 USD, you will have to get 5,000 KSD, and to get 1 KSD you have to spend 4 USD in trading fees,meaning 20,000 USD spent in trading fees. Unless you are whale, it will be impossible for you to reach that. And if you are whale, you won't bother with these shitcoins. Catch 22.

Once again, you have to be either insane or completely clueless  to try doing something like that, and that's exactly their target audience. God knows how many greedy noobs swallowed the bait, sent the money to their exchange, did KYC and then realized that unlocking is much harder than it looked at first.

[cryptoaddictchie]

Remember, their unlock (or "unfreeze" as they like to call it) system is tied to the value of KICK, so as KICK price goes up, so the amount of KSD needed. So, if aidropped KICK tokens are suddenly worth 5,000 USD, you will have to get 5,000 KSD, and to get 1 KSD you have to spend 4 USD in trading fees,meaning 20,000 USD spent in trading fees.

Thats a lot actually mate. But if there are some who tried who knows might worth a chance if and only price of kick is worth it.

I'm pretty sure some are still mad and pissed with this airdrop since their value is quite appealing only if can be send only to burn address so it won't show up. But the team is really smart and tricky to pull of this method but very selfish also.

[Rikafip]

Thats a lot actually mate. But if there are some who tried who knows might worth a chance if and only price of kick is worth it.

What you basically get is 25% of the trading fees that you paid. Doesn't make any sense to do it, especially not doing it on that dodgy exchange. The only time when this is worth trying to do it after they finish with the KICK dump. As the price goes lower, so is the amount of KSD needed. But still, you have to be crazy to go for it, and hodl those shitcoins hoping that hey might get pumped again in the future. Unless you are very experienced trader, you will probably loose more money while trading than those tokens are worth, no matter the current price.

As I said before, system is built around tricking greedy and naive ones, and luckily for Kickico, there is abundance of those in crypto.