KAY9 Pre-TGE Research: A Different Token Launch Structure

KAY9 – Pre-TGE Research

Been looking through KAY9 and one thing that caught my attention is how different their launch setup is compared to most pre-TGE projects.

There was no private round or presale according to their docs. Instead they plan to sell tokens through a public auction, which is supposed to be the only sale.

Total supply is 1B KAY9 and the split is pretty simple:

→ 45.5% → public auction → 45.5% → permanent liquidity → 9% → team

The team tokens unlock:

→ 1% at TGE → another 4% after 6 months → the remaining 4% after 12 months.

There also aren't any planned staking emissions/token inflation.

What I actually like about researching this structure is that the usual question of “what price did the VCs buy at?” basically doesn't exist here.

But I dont think that automatically makes the tokenomics safe either.

91% of the entire supply is going towards the auction + liquidity.

So for me the more important thing to watch is how many of those 455M auction tokens actually get sold and what exactly happens with the other 455M reserved for permanent liquidity.

Another thing I wouldn't ignore is security.

Their watchdog product is already running on Robinhood Chain, which is a positive because there is something real to look at before the token launches.

But the KAY9-specific contracts dont have an independent third-party audit yet.

They have published other security/review work, but I wouldn't count that as the same thing as an external audit.

Also no point trying to calculate an FDV yet imo.

The auction is supposed to determine the price, so before that happens any FDV number would just be an assumption.

For me the things worth checking again before TGE are: → auction result / actual token price → how the 45.5% liquidity allocation is locked and deployed → whether an independent audit gets completed → what kind of adoption the watchdog actually gets Interesting project to follow mainly because the token distribution isn't the standard low float + huge VC unlock structure. Sources I used: Docs: https://docs.kay9.ai Tokenomics: https://docs.kay9.ai/tokenomics Security: https://docs.kay9.ai/security GitHub: https://github.com/KAY9AI Disclosure: No position, no holdings and no compensation.

Good question, I checked this deeper because calling 45.5% “permanent liquidity” would be a pretty big claim if the team could still withdraw it. According to KAY9's published design, the liquidity position is supposed to end up in Uniswap's FeeSplitter, which has no LP withdrawal path. The roadmap also says the KAY9LiquidityLock.lock() step is permissionless, meaning the lock shouldn't depend on the team deciding to execute it later. So if the deployed contracts match the published implementation, this is stronger than a normal time-locked LP. There isn't supposed to be a function that lets the team recover the underlying liquidity after a certain date. But I wouldn't consider the claim fully verified yet. This is still pre-TGE, so the important check at launch is whether: 1. the deployed lock contract matches the published code, 2. the actual LP position is transferred into it, and 3. there is no admin/upgrade path that could bypass the intended restriction. So my conclusion for now is: the design supports the “permanent” claim, but the actual permanence can only be confirmed on-chain after deployment. That's something I would specifically verify before treating the 45.5% liquidity allocation as permanently inaccessible to the team.