Kite Foundation Completes Ozone Testnet and Releases Token Data

The Kite Foundation completed its Ozone testnet and ‘FLY THE KITE’ NFT snapshot on October 31 in Beijing, marking a pivotal step in its AI-powered agent payment infrastructure development.

$KITE tokenomics were unveiled, spotlighting a blockchain for AI payments, which may influence digital asset interactions post its Binance Launchpool listing and spot trading commencement on November 3.

Ozone Testnet Concludes with Groundbreaking Tokenomics Release

The Kite Foundation has confirmed the completion of the Ozone testnet and the “FLY THE KITE” NFT snapshot, which included interactive data and social media binding. As of now, the binding of EOA wallets is an ongoing process with the deadline yet to be announced on the official page. The tokenomics for $KITE were laid out, highlighting a total supply of 10 billion tokens, allocated primarily to the ecosystem and community at 48%, and modules, including supply-side services, at 20%.

The KITE tokens are designed to promote a blockchain infrastructure that facilitates AI-powered agent payments. The remaining allocations include 20% for the team and early contributors and 12% for investors. These modules are pivotal as they encompass services like computing and data and reward verified usage. The listing of Kite (KITE) on Binance Launchpool and the announcement of KITE spot trading from November 3 is expected to boost liquidity and user participation.

Kite Foundation, Official Communication, Kite Foundation, “The Foundation also revealed the KITE tokenomics: $KITE has a 10 billion total supply, with allocations designed to incentivize AI-powered agent payment infrastructure.”

Binance Listing and Market Implications for $KITE Token

Did you know? The KITE tokenomics model is akin to other blockchain launches that prioritize community and ecosystem development as seen in past industry practices.

Kite Sync (KITE) currently shows a 14.31% price increase in the last 24 hours, despite its circulating and max supply data unanswered. Over the past 30 days, KITE saw a significant price reduction of 87.68%, as recorded by CoinMarketCap.

Analysts from Coincu suggest that the output from such blockchain initiatives can reshape AI payment mechanisms, with the $KITE token prioritizing both ecosystem and technological partnership incentivization. This allocation model could reflect a broader aim to stabilize the network’s infrastructure efficiency and user loyalty over time.