We wanted to talk about Tenshi and some errors that occurred during its launch.
Firstly, we want to say that it was by no means intentional and that we are extremely sorry for the mistake that happened.
So, what exactly happened?
When we were first creating the contract for Tenshi and testing it over 1,000 times, it seemed that it had 0 flaws and that everything was working perfectly, which it did.
We took our time to make it a gold standard, just like Kishu, hence why we decided to delay its launch date.
Unfortunately, an issue that occurred during the launch was Tenshi became inflationary, as opposed to our plan of keeping it deflationary and having a hard cap of 1 trillion tokens in circulation. That’s the main reason you see the total supply increase.
After some internal discussions and extensive research — inflation isn’t necessarily a bad thing, quite the opposite. Apart from playing a key component in every economy, inflation increases the chances of the token being used and transacted long term. There are many inflationary tokens that are in the top 10 — Ethereum, Dogecoin, Polkadot…the list goes on. Over time, the minting (inflation) wears off and it becomes much slower, which ultimately helps reward holders faster while also creating strong fundamentals for future projects, such as Kishu Learn and Kishu Play. So, as long as the inflation rate is steady and predictable, you want it to more or less match the growth of the entire ecosystem — in our case, the growth of Kishu.
Deflation on the other hand increases hoarding which is problematic because the majority of the tokens never get spent and they actively take up a percentage of the total supply, leaving it inaccessible.
Some people suggested stopping the trading and re-launch the contract while air-dropping the existing tokens into the wallets of their holders.
Sadly, there is no way to remove the liquidity pool once the tokens have been launched, and the supply has been burnt — like it was in Tenshi’s case. It’s an absolute struggle to remake the contract and air-drop the tokens back.
Now, before you bash the entire project — we think that the launch was an absolute success, regardless of what happened during the launch.
We will actively work on developing both projects, but the focus is still on Kishu — since Tenshi is a complementary token to the Kishu ecosystem
Thank you very much for your understanding and support. We have some exciting news to share with you soon, and this is definitely just the beginning of a long journey.