KCC Unicorn Contest AMA on KuCoin — Building a Thriving and Vibrant KCC Ecosystem

2022/03/21 07:26:44

Dear KuCoin Users,

Time: March 15, 2022, 11:00-12:18 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with KuCoin CEO Johnny Lyu, together with the KCC Head of Community Operations, Sam, in the KuCoin Exchange Group.

Project Introduction

KCC is a public chain project initiated and built by the developer community of KCS and KuCoin, aiming to solve the network latency and high gas fee of Ethereum. KCC is Ethereum-based and compatible with EVM and smart contracts to provide community users and developers with a higher-speed, more convenient, and lower-cost blockchain experience.

Official Website: https://www.kcc.io/

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Johnny Lyu — KuCoin CEO

Sam — Head of Community Operation for KCC

Q&A from KuCoin

Q: As a CEX, can you share KuCoin's next steps in decentralization?

Johny: As a technology-driven company, KuCoin will continue to enhance our infrastructure, launch more innovative and easy-to-use products, and bring more diverse services to all different types of users.

Decentralized business is one of the focuses of our future development. At present, we have made some progress in the fields of wallet, NFT, GameFi, and Metaverse.

Next, we will further build a broader and diversified decentralized ecosystem through incubation, investment, and acquisition, such as launching KuCoin's official decentralized services, continuing to support KCC, and empowering Metaverse, Web3.0, and other fields.

Q: It seems like inflation is becoming a global problem. Do you have any suggestions on how to reduce the losses?

Johny: I must say that there are always inherent risks in any investment. Volatility is there in the crypto market. So, it is important to make value-driven investments that can grow and beat inflation.

For crypto holders, passive income is one of the best ways to fight inflation.

There are many ways to make passive income on KuCoin. Users can lend crypto assets to earn approximately 10% annualized return. Alternatively, they can use KuCoin Earn, which includes Staking, Savings, BurningDrop, and other products. The KuCoin Trading Bot is another great choice. In a year since its launch, Trading Bot has earned about $150 million in passive income for its users.

Q: Can you please share what KCC and KCC Unicorn Contest are with us?

Sam: I think many of you are not yet familiar with KCC, so let me introduce KCC to you all first, and hopefully, by the end of this AMA, you will know more about KCC.

KCC is a decentralized public chain initiated by the KCS community. It is community-driven and uses KCS as a bridge to connect KuCoin and users in the entire decentralized world.

Although it is still young, KCC has successfully put different pieces together with the KCS ecosystem. Currently, the projects in the KCC ecosystem cover decentralized exchanges, wallets, DeFi, NFT, DAO, GameFi, etc. The on-chain TVL has exceeded $50 million.

To further reinforce the prosperity of the KCC ecosystem and fully explore and support the KCC ecosystem, KCC has launched a $50 million ecosystem accelerator program in February this year.

Check it out here: https://kccofficial.medium.com/kcc-announces-50m-ecosystem-accelerator-program-43f65285f33b

KCC Unicorn Contest, as the first action of the incentive plan, is officially kicked off today! We welcome all those who are interested in KCC.

Visit the KCC Unicorn Contest page for more information.

Q: Recently, the KCC Unicorn Contest has been highly discussed. Could you please tell us more about it?

Sam: Overall, KCC Unicorn Contest is a part of the ecosystem incentive program, and it aims to comprehensively evaluate on-chain projects and discover those that make a major difference for users.

The contest covers DeFi, Infrastructure, NFT, GameFi, SocialFi, Metaverse, Web3.0, etc. The winning projects will obtain generous ecosystem incentives provided by KCC GoDAO and other sponsors.

The top-ranked Unicorn project will not only win a prize of up to $300,000 but will also receive various types of market support and even potential investments.

To help you better understand it, we have prepared a video for you.

Currently, Web3.0 is the talk of the town. KCC hopes to provide extra support and opportunities for projects with potential and quality.

We look forward to seeing more Unicorn projects and a prosperous KCC ecosystem.

Q: How did the KCC Unicorn Contest manage to draw so much attention?

Sam: First of all, I believe these projects recognized that this could be a wonderful opportunity at the right time. The secondary market might be bearish, but it is time to BUIDL. These projects have shown their desire to compete, and some of them will come out on top. We want to showcase some of these contestants.

As of March 11, the following projects have handed in their application forms:

Since we made the poster, more than a dozen new projects have submitted their application. But sorry we could not include their name on the poster on time. But all of them will get a chance to showcase themselves to the entire community very soon.

In addition, KCC is a community-driven public chain. And KCC hopes to build a strong decentralized ecosystem with the KCS community as its core. KuCoin, as KCC’s closed partner and one of the top 5 centralized exchanges in the world, backs KCC, and this itself speaks volumes.

Moreover, KCC is safe, efficient, inexpensive, and scalable.

For many projects, it means better user experience and lower cost during cross-chain migration. At the same time, the playing field is pretty much leveled for all the projects at this stage. It screams for huge growth. This caught projects’ eyes, and hence, they took action.

Our users are the driving force and our best support to make this contest even greater. We will run a number of events and promotions during the contest in the following weeks.

Last but not least, good ecosystem incentives and market resources for the winning projects also play a factor. The list includes direct financial rewards, liquidity support, market resources, advising sessions, and incubation investment.

The prizes for the KCC Unicorn Contest are as follows:

Q: As an important part of KuCoin's decentralized ecosystem, KCC has been highly anticipated by the KCS community. Sam, would you share with us the future development plan of KCC?

Sam: My answer is going to be a bit technical. So please bear with me here.

Along with the development of Web3.0 and continuous emerging technology, KCC is and will keep evolving. To be specific, KCC will gradually move from the EVM-compatible 1.0/ 2.0 era to a multi-chain and multi-asset compatible chain or a cross-chain 3.0 ecosystem.

KCC will not only vigorously build infrastructure and make sure it is scalable for a large number of developers and users (which includes building a lower-cost layer2 extension layer). Still, we will also build a more developer-friendly KCC SDK.

Our plan also includes an intra-chain/inter-chain protocol providing better privacy, and better support for DeFi, GameFi, Web 3.0 ecosystem cross-chains, even between different accounts.

KCC always believes that technical innovation is the most fundamental driving force for the blockchain industry to step forward. We are also aware of the difficulties that projects are facing in their initial stage.

Thus, we will continue to devote more resources to discover and support high-quality developers and early innovative projects.

KCC ecosystem incentive plan will also play a major role this year.

We will strive to create a user-friendly ecosystem combining innovative technology, ever-improving products, and happy users through technical iteration and operational support.

Q: In the era of public chains, each chain has its own developing direction. From your perspective, where is KCC heading towards?

Sam: I also answered it in the AMA with Avalanche last month. Each public chain has its own unique traits. As a community-driven public chain, KCC's main goal is to serve the entire KCS user community or an even larger community, providing them with a high-quality decentralized experience. With this positioning, KCC will also continue to cultivate and evolve. We will work with KuCoin to connect centralization and decentralization.

KCC, backed by the world's top centralized exchange, KuCoin, can enjoy great dividends from KuCoin’s existing user base.

High-quality projects seek to collaborate with KuCoin through various avenues, while KCC will discover and incubate high-quality projects out of these KuCoin partners.

The goal is to g0ive back to the KCS community and KuCoin platform through holding hands with KuCoin.

Meanwhile, KCC fills in the gap for KuCoin and provides users with a one-click decentralized experience through much deeper future integration from the two parties.

Q: As the underlying gas and fuel of KCC, how will KCS going to be empowered by KCC?

Sam: At the moment, KCS already has great value. No matter if users simply hold KCS to enjoy KCS bonus or they choose to participate in Spotlight and BurningDrop, KCS holders have seen what KCS can do. Now what KCC has to do next is to further amplify the value of KCS. That is our mission.

KCS is the native token of KCC, and the application scenarios of KCS will become more abundant as the KCC ecosystem develops. For example, with the rise of MojitoSwap and KuSwap, KCS can act as transaction gas fees on KCC. Using KCS for liquidity mining and staking further expands the usage scenarios of KCS and brings certain benefits to KCS holders, such as passive income.

Of course, the application scenarios of KCS are not limited to this.

I have emphasized many times that KCC is positioned as a community-driven public chain.

We hope to build a strong decentralized ecosystem with the community at its core so that KCS holders have the opportunity to participate in some important voting and governance of the community and hence allow these contributors to enjoy the benefits brought by the BUIDL dividend.

Free-Ask from KuCoin Community

Q: As a public chain backed by a CEX, when will some leading projects appear on KCC? Will the projects in the KCC ecosystem be listed on KuCoin?

Sam: We do hope that many high-quality projects emerge from the KCC Unicorn Contest, and they will be supported by ecosystem incentives. We believe multiple of them to flourish on KCC. Please stay tuned.

As for listing on KuCoin, we can just say that we will provide maximum support for projects.

After all, we welcome all high-quality projects, and we will continue to discover and support high-quality developers and early innovative projects. We will keep finding hidden gems for investors.

Q: So far, many public chains have launched stable coin projects, but KCC is still very quiet on this track. Is there a corresponding plan?

Sam: Yes, we are conducting a stable coin, and we will be in sync with the progress in our official channels!

Feel free to follow the KCC official website, KCC official Twitter account, and KCC Telegram community to check the latest news.

Q: What are the steps if someone would like to join the KCC on-chain projects? Will there be a tutorial?

Sam: It is very simple. Users only need to configure their wallets to experience the on-chain ecosystem. Please click here to read the related tutorial.

As I mentioned, many promos will run later on. It will be a very good idea to set up your wallet on the KCC mainnet beforehand.

Q: Which sector is KCC focusing on? What is the according to incentive plan?

Sam: KCC ecosystem is still under development. We welcome projects from DeFi, Infrastructure, NFT, GameFi, SociallFi, Metaverse, and Web3.0 to deploy on KCC.

KCC Unicorn Contest is officially kicking off today. Check for more details.

If you run a blockchain project, we encourage you to apply for it, and we will provide as much support as possible on KCC.

If you know anyone that runs a project and is a group of decent human beings, feel free to encourage them to apply. And we would love to get to know them and support them as well.

Q: Is there any close interaction between KuCoin and KCC?

Sam: All I can tell you all here is, please follow our social media accounts because some huge announcements might be made in the near future!

KCC Twitter: https://twitter.com/KCCOfficialTW

KuCoin Twitter: https://twitter.com/kucoincom

KCC Official Telegram: https://t.me/KCCOfficialEnglishCommunity

Q: Could you introduce some products for newbies?

Johnny: Beginners prefer easy-to-use, more trading tools to help them get started. KuCoin Lending and Trading Bot could be the ideal choices for newbies.

KuCoin Crypto Lending offers a peer-to-peer lending market, where users can lend assets to earn passive income. Take ATOM as an example. The APR currently is more than 16%.

KuCoin Trading Bot is a user-friendly trading tool and is free to use. You can start creating a trading bot with a few steps to automatically execute trading strategies. KuCoin now supports 5 trading strategies: Spot Grid, DCA, Futures Grid, Smart Rebalance, and Infinity Grid. Over 6 million bots have been created worldwide, and you can copy others’ settings to get started quickly.

Q: What are the Metaverse investment strategies you build in your project?

Johnny: Metaverse is the next trend of the crypto world. As a Metaverse-friendly crypto exchange, KuCoin is accelerating the layout of the Metaverse and actively exploring its development.

In September 2021, KuCoin launched the Metaverse Trading Board. It currently lists over 20 Metaverse tokens, which not only allows users to comprehend the Metaverse sector but also trade the Metaverse tokens instantly.

In November 2021, KuCoin Labs launched a $100 million “KuCoin Metaverse Fund'' to empower the development of the Metaverse ecosystem. In addition, the KuCoin Meta Office in Bloktopia’s Skyscraper will officially open soon, which will advance our pace in the metaverse ecosystem.

Ending words:

We have noticed the rapidly growth of KCC lately and some interesting projects built on it. This might be another place to hunt for gems. Keep following and don't miss it!

Giveaway Section

KuCoin and KCC have prepared a total of 500 USDT to give away to AMA participants.

1. Free-ask section: 50 USDT

2. Red Envelope: 450 USDT

. . .

If you haven’t got a KuCoin account yet, you can sign up here!

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