Iāve received some long-awaited news: the integration of the 4,444 @KanstarWorld characters into the wonderful world of @pixels_online has been confirmed. I can't wait to start using the skins of my adorable cosmic companions ā¤ļøāš„š¾ WOOF #KindCreator
Kanstar Transparency Update
Weāve always believed that transparency is the best way to address questions from the community. While we understand the sentiment of Web3 seeing many projects disappear over the years, Kanstar will continue building and weād like to provide the blockchain facts regarding Kanstar.
1. Kanstar NFT Mint $RON Funds: The Facts
ā¢ā ā 100% of our NFT mint funds were allocated to opening the Kanstar validator on Ronin.
ā¢ā ā Additional private investment was added alongside the mint funds.
ā¢ā ā Combined, this amounted to the amount required to open a validator: 250,000 $RON, to provide perspective, when $RON was around $2 (roughly $500,000 in value at the time).
ā¢ā ā We have never converted those mint funds into USDC or any other token. They are still there on $RON.
ā¢ā ā The validator stake remains on-chain on Ronin and can be verified through the links below.
Today, with $RON trading around $0.057, the value of those same holdings is dramatically lower at exactly $14250. This is simply the reality of the market, and one of the main reasons our runway became much more limited.
100% of our Kanstar NFT Mint $RON Funds are INTACT.
Blockchain Proof:
https://t.co/7i6ELy9acS
2. KANSTAR Validator $RON Rewards
Validator rewards have not been sitting idle. They have been used to keep Kanstar operating, including:
ā¢ā ā Validator development and maintenance
ā¢ā ā AWS (Amazon Web Services) infrastructure
ā¢ā ā Validator operational costs (approximately $600ā800/month)
ā¢ā ā Buybacks
ā¢ā ā Supporting our art team
ā¢ā ā Supporting our community team
ā¢ā ā Supporting our Discord team
ā¢ā ā Community giveaways
ā¢ā ā Development of artwork and assets
As the price of $RON declined over time, the value of validator rewards decreased significantly, while key operational expenses continued to be paid in USD. This substantially reduced the validator's ability to cover ongoing costs.
Following Ronin's migration to Ethereum in May, validator rewards have also stopped, meaning this source of operational revenue is no longer available.
Despite these challenges, we've continued doing everything in our power to keep Kanstar moving forward. We have continued building, maintaining operations, and supporting the community, even without a consistent source of revenue.
3. Why Development Takes Longer
Many people have asked why certain elements on our roadmap took longer than expected.
The answer is simple:
As the value of our treasury and validator rewards decreased alongside $RON, our available runway became significantly smaller.
For example, the Kanstar x Pixels integration alone cost mutliple thousands of dollars for every one of the 4444 Kanstar NFTs in existance to have an animated version. We are incredibly grateful to both the Pixels team and The Pixel Rogue Studio we worked with for their patience while we secured the resources needed to complete. At one point, we even had to take on additional personal financing to finalize the integration.
4. Kanstar Treasury
We have also never sold out our $KANSTAR treasury funds. 463,389,684.95 $KANSTAR on our treasury.
The vast majority of our $KANSTAR tokens remain untouched and have primarily been used for ecosystem rewards and team support.
Blockchain proof: https://t.co/O9OdjDusYP
5. Personal KANSTAR Buybacks
Personally, I have continued increasing my own Kanstar NFT position through buybacks because I believe in the long-term future of the project. Currently Iām the 3rd top holder in the world with 170 Kanstar NFTs.
Blockchain proof:
https://t.co/v1pDgUPasA
6. Looking Forward
In the future our $Ron mint funds (Valued at $14250 at the moment) will be moved to Binance staking to improve capital efficiency while continuing to support Kanstarās long-term sustainability.
Despite the challenges, we remain committed to Ronin.
We continue to believe in the future of the ecosystem and community, we continue building.
Thank you to everyone who has supported Kanstar, trusted us, and continued building alongside us.