The KING becomes an internal token of the platform, which will not be traded on the market, its utility will be to acquire tournament boards, accessories, customize profiles, access DChess Pro and more uses within the platform.
Those users who have KING will be converted into QUEEN at the value of the swap. They will have until 12/1/2022 to deposit the KING in their DChess account, so that we can deposit the QUEEN later.
The KING will be purchased through stablecoin at a fixed price and cannot be withdrawn as it is an internal asset of the platform. 75% of the proceeds of the KING will be used for the liquidity pool of the QUEEN token, the remaining 25% will be used for the development of the platform.
The main reason for this decision is that the DCHESS economy goes from an inflationary model, by the constant issuance of KINGS as rewards, to a deflationary model, in which there is a limited supply of QUEENS and it is distributed staggered in the different specifications mentioned in the token section.