Kangal

Kangal (KANGAL) is the governance token of the decentralized application (dApp) ecosystem, also called Kangal. The Kangal platform seeks to develop a dApp store where other developers, teams, or enterprises may submit and publish their dApps. The goal of the KANGAL token is to transfer value and voting power to its stakeholders or the Kangal community, referred to as the Kangal DAO. On the community forum, Kangal DAO stakeholders engage by exchanging ideas on any area of the project and proposing new ideas.

According to the platform’s official document, communities critically require their currency to serve as a payment medium, a store of value, a utility, or a measure of value in order to self-sustain. Therefore the platform introduced the KANGAL token. KANGAL deploys both the ERC20 and BEP20 token standards.

Other than a governance token, the Kangal platform seeks to introduce a supplementary currency called $TEAK. $TEAK is a utility token to help fuel the community. In simpler terms, in order to fuel the dApp ecosystem, KANGAL tokens are staked to obtain its utility token, $TEAK. Staking can be understood as a mechanism to earn crypto as a reward. The Kangal platform seeks to use $TEAK to power all its dApps. Kangal also aims to let dApps generate rewards or burn $TEAK.

The platform seeks to host various offerings in the ecosystem, such as NFT dApps as a pre-launch to the NFT marketplace and minting. Additionally, the DAO seeks to form various groups called boards to facilitate and disperse token functionalities. The ecosystem also seeks to launch games, lotteries, and more.

The Kangal genesis was created by a group of designers and developers on February 14, 2021. The name, Kangal, is named after the Anatolian Shepard breed of dogs.

The Kangal ecosystem reports a total supply of one hundred billion KANGAL tokens.