we hosted an amazing AMA with Karen Coin on the 13th of July
And here we will put some of the best questions:
Q1) Can you please introduce yourself as well as Karen Coin ?
I am Blake, one of the co-founders of Karen Coin. Karen Coin is a meme token based around the most recognized meme in the world and focusing on the massive problem of scammers in the industry through our utility Karen Approved. This is a meme token launchpad with ICO and auditing features to make investing in meme tokens safer for everyone. We audit coins, categorize them into risk levels and provide all necessary details about the project and team. This platform is designed to make investors feel safer when making a decision to understand more about the project and the people behind it. We also have a ICO launch function activating shortly to help launch new coin projects. Karen Approved also has official crypto influencer partners such as Crypto Monkey, Rocket Signals Crypto and The London Crypto.
Q2) What are the advantages of Your project ?
Our project has advantages such as the tokenomics distribution tax of 8%. 4% is distributed to the liquidity pool providing a more stable trading floor for the coin, the other 4% is distributed to holders as a benefit of holding Karen Coin. We have purposely made this tax cheaper than most other coins to incentivise more trade.
Other advantages is that in most westernised culture the meme is instantly recognised and has immense brand recognition already which leads to a good talking point amongst potential investors.
We also have a use case unlike many other meme coins who have no purpose. Our purpose is to make the meme token industry that represents approximately $20B a safer space.
Finally we are one of the youngest meme coins to ever be listed on BitMart. They usually only list projects with minimum 40k holders and we listed when we only had 7k holders. A big thing here is that they reached out to us because they loved our project.
We also have a strong telegram community and good sized followings on twitter and other platforms such as reddit, facebook and instagram.
Q3) please tell us about the goal you want to achieve in this year?
Our primary focus is to concentrate on increasing the brand awareness around our use case ‘Karen Approved’ and to make people realise that we are a platform to be trusted. We not only produce audits in house through our expert audit team but we also have Certik as an audit partner who believe in what we’re doing and want to help us achieve our goals.
We have goals to increase our coin holders and market cap by using our influencer partners to draw more attention to our project through their followings. So far these influencers onboard have a total collective following of 1.6 million people who are crypto specific audiences. We are aiming acquire more partnerships this year with more influencers to further increase this reach. We will also be increasing our daily trade volume with more people who use our Karen Approved platform as Karen Coin is the currency used to pay for services.
We have also got plans to bring in a consulting service for the launch and marketing of projects through our platform Karen Approved.
Q4) Every project has a story behind their name, Can you tell us more about the story?
So Karen Coin began as an fun idea as we noticed a lot of other interesting names of coins being released into the market. We saw how absurd some of the names were such as cumrocket and decided that we should release a coin ourselves and do a better job by having an experienced team in business and marketing running the project. After some research we also saw that in the US alone that the keyword ‘Karen meme’ got searched 135,000 times per month on Google, and even more worldwide. Once the project started and we saw how much people loved the name we decided to work on this full time and begin building a community around the project.
And here we will put best questions from our members and Karen Coin fans:
Q1) According to your roadmap, for their first phase they plan to launch the first use case, of their token, will this use case be essentially focused on your ecosystem or will it give voting and decision making power to the community?
Well the first use case has been launched and will be the first of the steps in moving towards an ecosystem of apps that the community can use. We consistently listen to the community through where they are most active and this is in the telegram chat. We constantly read thousands of messages a day to understand what it is that the community wants and the strength of our community is evidence that we listen. We are open to any and all suggestions that our community bring to us and our admins are always on top of this.
Q2) A few days ago you announced a new partnership between Certik & Karen. What are you going to work on together? what do you aim to achieve together? How does this strategic partnership benefit both projects?
As mentioned above, Certik have agreed to be an audit partner for our Karen Approved platform. For projects that want an audit from an internationally recognized company with the benefit of being featured on their website which attracts thousands of visitors per month and also being able to use their branding on their site, Certik is a great option to choose when looking for an audit. To be able to stand beside such an internationally recognised company benefits Karen Approved and furthermore Karen Coin a great deal as you can imagine. It sets us up to be the new standard of authority. On the other hand we are able to help Certik obtain business and this keeps them interested in our project with potential for further integration down the track.
Q3) 50% of $ KAREN supply has been burnt forever. So can you tell us the reason of burning 50% total of your tokens? How does this burning strategy affect the price of $ KAREN in the market? What impacts that burning brings to your network and the community?
We burn an amount with each transaction through the setup of our tokenomics structure. With the 4% that is redistributed to holders, the dead address that the 50% LP tokens were sent to (which is impossible to access hence why it’s called a dead address) is also technically a holder and so it too receives a part of this 4% with every trade. As this wallet grows so does to the rate of deflation that our coin has. This initial 50% burn sets the rate at which coins are burnt with each transaction moving forward and the price therefore increases as a result which positively affects the project overall.
Q4) The $ KAREN meme token is the native token of KarenCoin. Meme tokens have a reputation for being useless and with no real life utilities, so would you tell us what are the use cases of this token? How can users benefit from holding $ KAREN?
Please read our answers in the first half of the AMA. This is explained in great detail.
Q5) Do you have a Token Burning plan to increase Token value and attract Investors to invest?
the token burning rate increases with every trade.
Q6) While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Always, our telegram group are constantly giving us feedback and requesting for things to happen and we always make it happen.
Q7) What are the main milestones in your roadmap – both the things you have already achieved and the things you can look forward to? Any short/long term technical partnerships and milestones you would like to talk about or draw attention to?
Please head to Karencointoken.com to see what we have already achieved and what we are looking to achieve.
Q8) Is your platform suitable for Crypto new starter? Or does it only appeal to Pre experienced and proffesional users?
It the perfect platform for anyone. We do offer guidance on influencers to get the word out there for you and our influencers have a total organic reach of 1.6 million crypto investors.
Q9) Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term??????? ” Why you build your token, on Ethereum blockchain? As we all know Ethereum has scalability issues. so you have any plan to move on other blockchain or mainnet?
Our project is built on BSC not ETH. Our project value is realised through our use case Karen Approved which solves the biggest problem in crypto right now which is preventing scammers and making sure people make smarter buying decisions. Our auditing techniques and risk profiling will make the meme token industry safer for all.
Q10) What factors will influence the future demand for your project’? or What steps would you take to boost demand? Could you please tell me how you intend to attract more business partners to your project?
We have acquired a number of influencer partners knowing that all projects need constant exposure. We will continue to acquire more influencers as we go to make sure that people are constantly hearing about Karen Coin.
Q11) How secure is the doxxing process going to be? Like is there any guarantees?
We are going to video dox project devs to make sure we have their records on file. This will give us a lot of security and allow us to have necessary leverage over scammers who do the wrong thing. They will also need to complete a KYC.
Q12) Where can I buy it?
also all the links to all your social media platforms if possible?
You an purchase Karen Coin on pancakeswap or BitMart:
Q13) What is your motive behind the creation of this project and what are you thinking of doing in the future? How can ordinary people benefit from it?
For ordinary people Karen Coin is the saviour or protector of their investments. Investing in Karen Coin benefits anyone as we are a project with purpose and a lot of partnerships with crypto specific influencers. Moving forward we intend to complete our roadmap and continue moving forward with Karen Approved which is our first use case.
And this was the end of our AMA with Karen Coin.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://www.karencointoken.com/
Twitter :- https://twitter.com/karencointoken
Reddit :- https://www.reddit.com/r/KarenCoinToken/
Discord :- https://discord.com/invite/M27jzcZWQh
Facebook :- https://www.facebook.com/karencoincrypto
Instagram :- https://www.instagram.com/karencointoken/
Tiktok :- https://vm.tiktok.com/ZSJfe1o8B/