KuCoin Is Trailblazing Its Quest For Web3.0 Expansion With A Healthy USD 150 Million Raised in Pre-Series Funding
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KuCoin receives dedicated support from big-name investors during their ‘pre-series B’ funding round of their USD 10 Billion Valuation. KuCoin plans on launching into Web3.0 with plenty of research and development that will put that capital straight to work!
How KuCoin Raised Its Valuations To USD 10 Billion:
This round of funding, ‘pre-series B’, is the second funding round in KuCoin’s now USD 10 Billion valuations. And a successful round it was! With the help of Jump Crypto, Circle Investments, Matrix Partners, and IDG Capital. The success of this funding round can be attributed to a solid group of investors, which always help pique interest in a project. However, hats off to KuCoin who has shown strength and commitment by rallying a dream team of investors who were happy to contribute USD 150 Million. This clearly demonstrates KuCoin’s thorough understanding of the direction in which the market is headed. This show of support speaks volumes to the quality of research and development that KuCoin has produced. While the numbers are impressive to marvel at— let’s take a deeper look and find out KuCoin’s projects that have everyone pulling out their wallets!
KuCoin’s Self-Sustaining Ecosystem Built on The Native KCS Token:
KuCoin is recognized for their highly advanced, yet user friendly features offered on the exchange. Deemed ‘The People’s Exchange’ the team at KuCoin has cleverly foreshadowed its destiny of advancing to Web3.0. What we didn’t see coming was their genius approach to pioneer the Web3.0 movement. The native token of the exchange (KCS) has been built into a self-sustaining machine of a blockchain ecosystem that strategically covers each advancement along the journey to Web3.0. All the while, maintaining their core value stated in the KCS Whitepaper “From Geeks to Mass Adoption”.
We have previously introduced the KCS blockchain and have linked that right here. If you’d like to read more about KCS.
KuCoin has not only built a solid blockchain ecosystem around KCS but integrates the KuCoin Community Chain (KCC) seamlessly into their vast ecosystem, allowing their advancements in Web3.0 to be decentralized by simply authorizing governance privileges to their community members. As the KCS ecosystem is deployed on Web3.0 the introduction of The KCS Management Foundation, The KCC members alongside The KCC GODAO Foundation, angel investors, The KuCoin core team and, KCS holder community members will make up the Management team. That group of people will organize and maintain the infrastructure in its infancy. As the community grows and is able to maintain autonomously, the community will become fully decentralized, as promised.
The Solution That Has Investors Respectively Breaking Their Wallets Out
The first order of business in the KCS whitepaper is to improve KCC so that it’s geared towards multi-chain operability. Yes, with their three-part plan, KuCoin plans to implement interoperability with Ethereum Virtual Machine (EVM). The third finger of the plan is multi-chain operability. In fact, KCC 1.0 powers the native token of KuCoin exchange KCS - used for gas fees, etc., on the exchange. Furthermore, KCC 1.0 being built on EVM solves two issues with EVM or interoperable ecosystems - time consuming transactions and extremely costly gas fees. KCC 2.0 will be implemented as the community grows, its function is to build internal subroutines to those of KCC1.0 on EVM. This is to ensure that KCC1.0 remains functioning and no interruptions are made to EVM while deploying the second phase of the solution. As per the third phase, KuCoin outlines its objective and use-case in the white paper, beautifully, as quoted below—
“Within the KCS ecosystem, the payment system can connect all projects and participate in all activities, such as the KuCoin exchange ecosystem’s transactions, derivatives trading and new coin launches, the KCC ecosystem’s transactions, stablecoins, lending, NFT transactions etc.; Outside of the KCS ecosystem, the payment system can bridge to the main chains and break through the digital barriers for both institutions and individual users, thereby minimizing the threshold for digital payments, serving users more easily and efficiently, and growing the KCS ecosystem’s userbase.”
Concluding… For Now
When thinking of crypto exchanges you may think about how user-friendly they are, how secure, and how adaptable they are to the ever-advancing crypto markets. KuCoin has always been an innovative exchange with their AMM trading Bots, variety of cryptocurrency options, global adoption and user-friendly interface. KuCoin has always been committed to creating a welcoming environment by analytically studying the possibilities of major disconnect in the mass adoption of crypto. This would be attributed to lack of awareness, lack of technology and lack of regulation. Any actions taken to help ease the strain of possible future issues in the crypto space demonstrate the dedication and commitment that KuCoin builds into each project that they develop. So there is no surprise to see them raise USD 150 Million in pre-series funding rounds crediting themselves a valuation of USD 10 Billion. After taking a look under the hood - KuCoin has planned their Web3.0 with an artistic touch. They simply stuck with their brand’s core values and applied them to the space in its entirety. With meticulous planning and patience, KuCoin has certainly earned the support of each and every investor. Stay tuned for the next game-changing move by KuCoin— “From Geeks To Mass Adoption”.
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Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 18 million users in 207 countries and regions around the world. According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts.