New listing – DODO token

Do you even DODO?

We want to welcome DODO to Kanga Exchange. DODO is a set of DeFi tools that are used by many DeFi users every day. DODO is operating currently on multiple blockchains like Ethereum, Polygon, BSC and HECO. These as some of the things available on DODO protocol:

  • create an asset on the blockchain: Ethreum, Polygon, Binance Smart Chain, HECO- pool and create a swapping market for your asset.
  • create a crowd pooling campaign that allows you to build liquidity for your token with the help of the crowd.
  • create a liquidity mining campaign- DODO is also a decentralized swap exchange that offers great liquidity for many assets.
  • earn DODO by providing liquidity and many more.

DODO is one of the leading DeFi protocols and it has a great potential to become a go-to DeFi platform for any crypto asset.

Listing details:

  • deposits are open from today.
  • we are listing an Ethereum based DODO token.
  • new pair is DODO/ETH.
  • trading starts on Friday at 12:00 GMT.

The ‘Fake Bitcoin’ fraud or how not to get tricked out of your lifetime savings

As the Polish police informs the number of frauds involving financial services, including cryptocurrency, is invariably growing. Let us look at a hypothetical case: Edward lost his job due to redundancies at his company. The ongoing pandemic and his close-to-retirement age did not make it easier for him to find new employment. In theory, he had enough savings to cover for his basic needs. However, things turned bad for Edward and he suffered a severe loss. What do you think happened? 

A survey would come in handy at this point, but it will be easier for me to use a few examples which would fit well in this quite stereotypical scenario. And no, it was not the ‘fake grandson’ or ‘fake policeman’ or any other fraud method involving a trustworthy person. Edward fell victim to a fraud which for the purpose of this article I called the ‘fake Bitcoin’ fraud. 

Situation 1. The Internet scam

Who would not like to get rich quickly and easily? Especially in a situation where they struggle to find a steady source of income? Edward was one of such people. While searching through social portals on daily basis an advertisement glorifying the possibility to earn money on cryptocurrencies caught his eye a few times. A smiling attractive woman at the side of a prominent businessman in the picture was an additional stimulus encouraging him to click on the advertising banner. Next, it was enough to read a few sentences about ‘your only chance in a lifetime’, fill in the contact form and wait for a phone call from ‘a broker/consultant/exchange agent/personal advisor’ (the sky is the limit). 

What next? Well pleased Edward sets the kettle to make some tea, rubs his hands and… Huh, the phone is ringing! Good morning, good morning – the usual exchange of courtesies. He can hear that there is a gentleman at the other end. Eloquence, elegance. A slightly foreign accent, but after all Edward’s grandmother was from Vilnius, so we cannot suspect a man of dishonest intensions based on that! 

‘Right then, so what is the plan? Well, dear sir, 250 euros/dollars will suffice. Such a trivial amount, you must admit, considering the sea of opportunities which will later unfold for you!’ Things followed a scenario that is well known to the police and the Financial Supervisory Authority (KNF): 

Edward was asked to install an application on his computer, which would enable the consultant to run the so-called ‘remote screen’. Thanks to that, as was explained, he could show Edward step by step how to run the operations. He also needed a trading application (a cryptocurrency wallet) and another one, which would enable him to make multicurrency transfers, preferably one that also offers a quick exchange to cryptocurrencies. Edward made a transfer for 250 euros. 

Next, having learnt ‘his client’s needs’ the consultant persuaded Edward to make another bigger investment. All legal, off course. Edward could see with his own eyes the steps that were being taken. Both men were operating on the same computer, the only difference being that the consultant was present remotely and every now and then asked Edward to provide the codes that were being sent to his client’s phone number. At some point the situation got complicated, because unlike so far, when Edward could see his funds in the wallet, now he saw them disappear… and they never came back. In panic he tried to contact the nice gentlemen but, unfortunately, it was impossible to connect to him. He lost 1000 euros.

Situation 2. A phone scam

A similar situation, yet this time Edward receives the information about ‘the investment of his life’ on the phone. The speaker presents himself as a representative of a well-known company/cryptocurrency exchange and informs Edward that his phone number was retrieved from a database in which Edward’s number was available as the result of a consent he had given to be contacted for marketing purposes. Dismayed Edward cannot recall anything of that sort, but then again, he was not reading the message that carefully. They start the conversation. The broker asks about his economic situation and cheers his victim up, saying he could not have come at a better time. They make an appointment to meet. Once the broker presents the investment plan, Edward decides to invest 50,000 PLN. The broker assures him that he does not need to do anything. Well, only to go through a positive KYC verification, but that is just the same as for banks – there you need to give your full credentials as well. No need to worry, they will help. 

The day comes when Edward is asked to make an additional verification as part of the KYC procedure. This time in the form of a video conversation with an exchange worker. Edward does not find it convenient, but his new advisor promises to prepare him for the video call. This way during the conversation Edward conceals the fact that he is not acting on his own behalf and was persuaded to open an account by a third party. Let us assume that he managed to outsmart the exchange worker. As a result, Edward can make transactions for more than 1000 euros. He gives his advisor details to access the account and… that’s right. The advisor disappears along with Edward’s savings. Edward calls the exchange support, appalled. He learns that workers of the exchange never call to their clients first, and they surely do not offer help in the form of investment advice. Edward was frauded and must report the fact to the police. 

Summarizing the above situations: 

  • NEVER give your personal information to third parties – this concerns both your personal details and credentials to access your banking systems, e-mail and the like.  
  • ALWAYS check who you are speaking to. If there is something that rises any doubts in you, trust your intuition and resign for your own safety. 
  • If you receive a phone call from someone who present themselves as Kanga exchange worker (or a worker from another service), tell them you will call them back. Note down the phone number and call the support of the company which allegedly contacted you (do it preferably by phone, since scammers most probably also have access to your e-mail box). You may also report the case to the police. 
  • Fraudsters may also try to contact you via such popular communication channels as Whatsapp, Skype or Telegram. 

Finally, I will describe one more method used by fraudsters, equally popular. 

Situation 3. Phishing or crypto phishing 

This method has been known among fraudsters for a very long time. It involves sending spam messages with the use of an email or text message. The fraudsters pretend to be cryptocurrency exchange or other cryptocurrency service providers (e.g. exchange offices). Most often the messages include a link confusingly similar to those sent out by real companies. For the sake of the discussion for this situation we must assume that Edward already has some funds in a cryptocurrency wallet and receives a worrying message (e.g. that his funds are in danger) with a call to action. Unfortunately, unluckily for Edward, he fails to carefully check the sender’s address and clicks the link, which redirects him to a clone website. He enters his logging credentials and is surprised to see that everything is fine. He logs out and the next time, once he logs in to the proper service, he is in for an unpleasant surprise: his wallet is empty 🙁 

Fraudsters in social media, including the popular Facebook platform, work in a similar manner. They create a fanpage that is identical to the one our protagonist observes and place information about free bitcoins there. Additionally, very often they tag their victim posting a dedicated message with congratulations. It is enough for the user to click on that link and… you know what will happen next. 

Summarizing:

  • ALWAYS check carefully and thoroughly the email address and phone number from which you received a message which rises your doubts, especially when it comes to your finances and personal details! 
  • Do not believe that someone wants to give you a Bitcoin or another cryptocurrency for free. 
  • Install anti-virus software on your devices. 
  • Never allow a third party to access your devices remotely! If they ask you to install such applications as TeamViewer or AnyDesk – do not install. 
  • Whenever possible enable two-step verification. 

You can read more about the actions taken by fraudsters in our previous article or on the website of Polish police. 

Something made you feel alarmed? Contact us immediately!

New listing – SUSHI

Feeling SUSHI…

This week we welcome pSUSHI on Kanga.Exchange. We want our users to have a chance to trade the best DeFi tokens out there. SushiSwap is one of the major players in the DeFi space. Its team hasn’t stopped and has been rolling innovation non-stop! 

One of the latest news is an innovative new generation AMM (Automated Market Maker) called Trident AMM, which is rolling out as we speak.

SushiSwap is the most multichain swap exchange out there! You can use it on Ethereum, Polygon, BSC, HECO, Avalanche, Fantom and many others. 

It has been recently approached by large VC funds that offered Sushi DAO large investments but they got refused by the Sushi Community. Showing the strength of the community and a decentralized nature in the core. 

SushiSwap entered the market in mid-2020 with its successful vampire attack on UniSwap, and after that, many thought it won’t last for long. But It proved to create a really strong and vibrant community, that is constantly innovating. Since then Sushi has become the money market with multiple great products enabling trading, leverage, yield farming, automated yield strategies etc. 

For DeFi investors, SUSHI is a must-have token in the portfolio.

Listing details:

– We are listing a Polygon-based SUSHI token with a symbol “pSUSHI” – it means low fees and fast transactions,

– We are opening a new pair pSUSHI/pMATIC  

– Deposits of pSUSHI are open from today

– Trading of pSUSHI/pMATIC starts at 12:00 GMT on Friday (27th of August)

Happy trading!

Technical analysis of the KNG token 17-08-2021

KNG/PLN 1D

On Thursday KNG reached a new ATH at the level of 11 PLN alongside vast turnover – three times higher than a day before. After a few hours of hovering around 10-11 PLN some investors realized their profits and finally KNG closed at the opening level. The next day brought another series of rises, this time more stable, and the following two days welcomed another correction and currently KNG is under consolidation around 7.10-7.20 PLN. This situation is normal after such a strong increase and quite typical for consolidation when accompanied by a decreasing turnover. 

There is a strong resistance ahead for KNG at the level of 7.20 PLN, where there is a significant sales order. Breaking that level should lead to quick increases, since the former charge at 11 PLN caused a concentration of supply of KNG. Looking at the order book there is still a slight resistance at the level of 8 PLN. 

If, however, there should come a deeper correction then one important support is to be found at the level of 6.75 PLN, where currently there is a purchase order for 1035 KNG awaiting. Only breaking that level will bring further drops towards 5.85 PLN.

Current price: 7.20 PLN.

Resistance levels: 7.20, 7.99-8.03, 8.55-8.60, 10.50-11

Support levels: 6.75, 5.85-6.10, 4.85-5.13, 3.70-4.10

KNG/ETH 1D

The KNG/ETH pair has been forming a descending triangle for over ten days, which may be indicative of breaking out in a downward movement by going outside the 0.000520-0.000565 support and declining even further. However, if that were to happen, the breakout should come in the next two or three days. If, however, KNG should escape upwards by breaking through the 0,000585-0,000650 level, the market should reach 0.000895-0.00100 quite quickly. 

Right now what we can see is that similarly to the KNG/PLN pair the biggest turnover for KNG/ETH was recorded on Thursday, when we also observed a substantial volatility. However, the pair reached its ATH at the end of July and that was at the level of 0.001295. If Etherum should undergo consolidation in a longer run we can expect another rise of the KNG/ETH pair. Otherwise, we may be returning to the levels we had in June and the first half of July, when the pair was moving sideways between 0.000400-0.000500. Only a strong acceleration of increases for ETH will probably cause the pair to fall. 

Current price: 0.000574 

Resistance levels: 0.000575-0.000585, 0.000895-0.00100, 0.00125-0.001295

Support levels: 0.000520-0.000565, 0.000498-0.000513, 0.00035-0.000400

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange) where the current purchase price is 0.000656896 ETH, so the difference is 14% compared to the price on Kanga exchange and gives room for arbitrage.

The KNG tokens are also available on ShibaSwap in Etherum network (https://bit.ly/3Bt7gLA). Here the current price is 0.000568959 ETH for 1 KNG and is 0.8% lower than on Kanga exchange.

Maciej Harcej – Liga BTC for Kanga Exchange

New listing – MahaDAO!

This week we welcome MahaDAO on Kanga.Exchange. 

Our Polygon listings are getting more interesting and there is more choice every week, we hope you like it. 

MahaDAO is a Decentralized Autonomous Organisation that is creating a new kind of money that maintains it’s buying power irrespective of which direction the market moves in. This is a new kind of the stablecoin, called Valuecoin. Rather than being pegged to USD it aims to be a stable store of value even if the value of the USD collapses. 

ARTH is pegged against a Global Measurement Unit consisting of a well-diversified, anti-correlated, carefully curated basket of assets to provide ARTH users a lasting stability of intrinsic value. ARTH is one of the first currencies that will not only protect people’s wealth but will also promote social good.

During those uncertain times, when the brightest minds question the position of US Dollar as a reserve currency and turbulences in the global economy MahaDAO is creating an asset that sole goal is to protect the purchasing power of it’s holders. With enough adoption, the potential of MAHA and ARTH is huge and can save lives!

Kanga is listing the governance token of the MahaDAO called MAHA – it empowers the token holders to vote on savings rates, stability fees, direction, strategy and future course of action for the ARTH coin. The MAHA tokens help keep the ARTH coin completely decentralized. By buying MAHA you become the shareholder of what might become a new generation of the International Monetary Fund. 

Yesterday MahaDAO have released their second product – ARTH Loans on Polygon. ARTH Loans is a 0% interest-free loan platform to secure loans in $ARTH valuecoin 😳 Find our more here: https://arthcoin.com/

MahaDAO is a relatively new project with a smallcap but with huge potential. It has expanded recently from Ethereum to Polygon and plans to become multichain. It’s being traded on multiple exchanges, but not yet on Binance… 😉

Listing details:

– We are listing a polygon-based token with the symbol “pMAHA” (contract address: 0xedd6ca8a4202d4a36611e2fff109648c4863ae19)

– pMAHA deposits are open from today. 

– We are opening a pair pMAHA/pMATIC

– Trading starts on Friday (20.08.21) 12:00 GMT

Pro-tip

Don’t miss the opportunity for the arbitrage between Kanga and Swap markets

New listing – Cryption Network Token!

This week’s listing is the Cryption Network Token $CNT!
Cryption Network is the ecosystem of DeFi products like swaps, farming, Initial Farming Offering, mobile wallet etc.
Recently Cryption Network launched PolyDex on mainnet (July 28th). It’s a next-gen interoperable AMM DEX that offers several unique features and rewards to the community. It is a first-of-a-kind DEX that offers better farming rewards using Cryption Network’s Elastic Yield Farming.
PolyDEX operates on the Polygon mainnet; however, it offers interoperability between Ethereum and MATIC networks for easy movement of crypto assets within different blockchains.
There is a lot done, like:

Tokenomics:

  • Total supply: 100 000 000 CNT
  • Circulating supply: 8 346 097 CNT
  • Utility: Governance token, incentive token, token burns, Initial Farm Offering

Listing details:

  • We are listing a polygon-based token, with a symbol $pCNT
  • New pair is pCNT/pMATIC
  • Deposits are open from now.
  • Trading starts on Friday 12:00 pm (13.08.21)