## Red Kite and Firebird develop independent growth strategies
**On March 1st, 2023, Red Kite and Firebird had officially announced that both brands will be focusing on growth strategies** that best suit their individual needs. As a result, $PKF tokens will belong to Red Kite. 

Read more about this announcement [here](https://medium.com/polkafoundry/announcement-red-kite-to-build-independent-growth-strategies-a442445391ac). 

## What is Red Kite?
Red Kite is a top-tier launchpad by PolkaFoundry (now Firebird) that allows investors to participate in pre-sales of carefully chosen Web3 projects.

As part of the PolkaFoundry ecosystem, Red Kite now utilizes the platform's native $PKF as an utility token. Investors can hold $PKF tokens to join pools on Red Kite and participate in secure and reliable token sale rounds of handpicked projects in crypto. 

## What makes Red Kite unique?
Red Kite Launchpad offers fairness for all participants with a lane-based swap system, an integrated vesting schedule, a reputation point-based tier-ranking system, and multi-chain support. As a result of recent market disruption, Red Kite now strives to become a pioneering, industry-leading Smart Launchpad with powerful and innovative solutions with the help of AI technologies. 

Following the independent growth strategy development announcement, Red Kite plans to gradually grow and expand our ecosystem, build DAO models, and add distinctive features to increase utilities for $PKF owners. 

## Who is the team behind Red Kite?
PolkaFoundry, a one-stop production hub for DeFi and NFT apps on Polkadot, was established in 2018 and rebranded as Firebird in October, 2022. 

Red Kite was built on PolkaFoundry and is powered by Icetea Labs - Asia’s leading Web3 incubator and powerhouse specialized in Web3 development, game discovery, and user engagement.

As a result, Red Kite is able to take advantage of the Icetea ecosystem's outstanding features while also receiving assistance from technical advisors, influential people, accelerator programs, and other sources.

## Red Kite token economics
* Token name: PKF token
* Token Symbol: PKF
* Total Supply: 200,000,000

PKF token is Ethereum's ERC-20 token. In the future, when Firebird blockchain launches the mainnet, PKF token holders can swap ERC-20 PKF token for native PKF coin at the rate of 1 for 1.

**Token Utility**
* Staking to participate in pools on Red Kite Launchpad
* Check out our [Help Center](https://help.redkitepad.com/overview/readme) 


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