"KuCoin Crypto Lending 2.0" Early Access
05/16/2023, 21:14:08
Dear KuCoin Users,
In order to improve the borrowing experience and provide Margin users with more trading options, KuCoin will open the invitation for the "KuCoin Crypto Lending 2.0" Early Access on May 16, 2023, and Early Access will start on May 29, 2023 (UTC).
What is "KuCoin Crypto Lending 2.0"?
The "KuCoin Crypto Lending 2.0" is an experience upgrade product based on the "KuCoin Crypto Lending 1.0" (Margin Lending Market).
The upgrade will match the funds of the users who have successfully subscribed when other users have market borrowing needs so that the subscribed users would earn interest.
What is the difference between "KuCoin Crypto Lending 2.0" and "KuCoin Crypto Lending 1.0"?
| Lending | KuCoin Crypto Lending 1.0 | KuCoin Crypto Lending 2.0 |
| Lending Experience | Place order, the best interest rate transaction dealt | Expected interest rate subscription, matchmaking order immediately, easy lending |
| Redeem Experience | Redemption at maturity, a minimum of 7 days | Redemption at a minimum of T+1 hour after matching, flexible utilization of funds |
| Borrowing | KuCoin Crypto Lending 1.0 | KuCoin Crypto Lending 2.0 |
| Borrowing Experience | When renewing the loan and there are no available funds in the market, borrowing may result in the liquidation of the position | With a stable supply of funds |
| Interest Experience | Fixed rate interest payment until renewal | Interest follows the market and is updated hourly |
How to participate in the Early Access of "KuCoin Crypto Lending 2.0"?
Registered User Process: Users who registers in the form above will receive notifications to enter the Early Access to "KuCoin Crypto Lending 2.0"
Invited User Process: Users who have been invited by KuCoin will be able to receive notifications to enter the Early Access to "KuCoin Crypto Lending 2.0"
Access From: KuCoin website > Earn > KuCoin Crypto Lending 2.0
Early Acess Period: May 29, 2023 - June 26, 2023 (UTC)
The "KuCoin Crypto Lending 2.0" will be enabled to all users according to the actual experience of the Early Access users.
At that time, the "KuCoin Crypto Lending 1.0" will gradually be offline, and the specific offline time will be announced separately.
"KuCoin Crypto Lending 2.0" Early Access Requirements
All users who can access to "KuCoin Crypto Lending 2.0" page, hereinafter referred to as "Alpha Testers", the page can be accessed through KuCoin website > Earn > KuCoin Crypto Lending 2.0.
There are specific differences between the “Alpha Testers” in the process of Margin Trading include lending and borrowing funds from "KuCoin Crypto Lending 1.0".
For more details, please refer to "KuCoin Crypto Lending 2.0 User Documentation" and "KuCoin Crypto Lending 2.0 FAQ".
The Lender
• Alpha Testers can lend in "KuCoin Crypto Lending 2.0", and the system reserves the user's permission to lend in "KuCoin Crypto Lending 1.0".
The Borrower
• Alpha Testers can only borrow from "KuCoin Crypto Lending 2.0", while the "KuCoin Crypto Lending 1.0" lending market will not be available.
* If the corresponding token supported by 1.0 is not available in the Crypto Lending 2.0 market yet, the borrowing of that token will automatically switch to the 1.0 market.
Currency Support
• During the Early Access period, "KuCoin Crypto Lending 2.0" will gradually increase the currency support list until it covers the borrowing and lending of all currencies in "KuCoin Crypto Lending 1.0".
• The first list of supported borrowing and lending currencies are AMB, CELR, ONT, XRD, RDNT, and USDT.
Tips:
1. Alpha Testers will be eligible to participate in the upcoming "Bug Bounty" activity and will receive corresponding rewards for any bugs or suggestions found during the participation.
2. If the Alpha tester still has liabilities from Crypto Lending 1.0, the liabilities of 1.0 will be repaid first by default when repaying.
3. If the Alpha Tester has a large-scale daily borrowing demand, it is recommended to use the main account after "KuCoin Crypto Lending 2.0" has been opened to all users. During the Early Access period, minor accounts can be used to participate.
4. "KuCoin Crypto Lending 2.0" is expected to open to all users at the end of June 2023. If you are loyal to Margin Trading or interest-earning with Crypto Lending, it is recommended to sign up for Early Access in advance.
5. The loan orders generated by "KuCoin Crypto Lending 2.0" can currently be viewed through KuCoin website > Earn > KuCoin Crypto Lending > Margin Borrowing.
6. Since "KuCoin Crypto Lending 2.0" is not yet open to all users, the currencies supported and the loanable amount will be gradually improved.
If the Alpha Testers’ daily trading expectations are not met, they can cancel their qualification for Early Access through customer service until the product is open to all users.
7. The Early Access time may change according to the actual situation and will be announced at that time.
8. It Is recommended that users access the Crypto Lending 2.0 via Kucoin.com at present, and the APP support will be gradually released.
9. For more details, please refer to the "KuCoin Crypto Lending 2.0 User Documentation" and "KuCoin Crypto Lending 2.0 FAQ".
10. When you are able to subscribe at the "Crypto Lending 2.0", which means that you have been granted the early access.
Risk Warning: KuCoin Earn is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks. The KuCoin Group is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right to the final interpretation of the activity. Kucoin is not responsible for any loss of assets caused by the user's own investment decisions or related behaviors, and the user should assume full responsibility.
Thank you for your support and understanding!
The KuCoin Team
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