KuCoin CEO Johnny Recaps Milestones As KuCoin Turns 4 and Shares a New Direction Moving 4ward
Dear KuCoin Users,
Time: September 27, 2021, 11:00-12:53
A special AMA (Ask-Me-Anything) session with KuCoin CEO, Johnny Lyu, was held in the KuCoin Exchange Group as KuCoin celebrates its 4th anniversary. Johnny recaps milestones as KuCoin turns 4 and shares a new direction moving 4ward.
KuCoin’s 4th Anniversary Page: https://www.kucoin.com/land/KuCoin-4th-anniversary
KuCoin Crypto Friday Activity Page: https://www.kucoin.com/land/crypto-friday
Johnny Lyu — CEO at KuCoin Global and Co-Founder of KuCoin
Before joining KuCoin, Johnny accumulated abundant experience in the e-commerce, auto, and luxury industries. At KuCoin, Johnny used to lead the listing, business development and strategic investment team while also being the main contributor behind Spotlight, Pool-X and KuCloud. In March 2020, Johnny took over the position of KuCoin Global CEO and is now in charge of the day-to-day operations of KuCoin, KuCoin Futures, Pool-X, as well as the expansion and prosperity of the KCS ecosystem.
Q: It has been four years since KuCoin was founded in 2017. Can you share with us what remarkable achievements KuCoin has achieved so far?
Johnny: Sure. On our anniversary page, we have reviewed our milestones achieved throughout the past 4 years as well. I would like to share some key numbers here.
Our cumulative transaction volume has exceeded $500 billion this year, the total users of KuCoin has surpassed 8 million, and the highest daily transaction volume has outstripped $10 billion.
As one of the biggest altcoin exchanges, we have listed over 400 promising tokens with 900+ trading pairs.
Very happy to see that KuCoin has grown into a top 5 crypto exchange globally, and we are named one of the best crypto exchanges for 2021 by Forbes Advisor!
All these achievements are inseparable from the support of every KuCoin user, partner, and our employees who firmly stand with us all along—much appreciated!
Q: KuCoin has launched many innovative products welcomed by users over the past 4 years. Can you share with us one or two representative products?
Johnny: Happy to talk about it.
The reason behind the establishment of KuCoin is to bring crypto to the masses. During the past four years, we’ve been non-stop in achieving our goal by building products for all classes of investors.
Two interesting products we introduced this year are KuCoin Trading Bot and KuCoin Win.
I believe many people here are using KuCoin Trading Bot to make passive income. It's smart, easy to set up, and totally free. So far, over 3 million trading bots are serving users in various trading strategies.
You can simply start creating a trading bot with a few steps, and it will help you automatically execute trading strategies, including Spot grid, DCA, smart rebalance, etc., with returns during the volatile market.
Try it out if you haven't.
KuCoin Win is a gaming platform and it's highly associated with KCS.
The platform offers games that allow users to get involved with crypto in an entertaining way. The first game - LuckyRaffling - opens easy access for everyone to participate in early-stage investment in promising crypto projects. And just a few days ago, we launched a new game – Guardian Star, a mystery box game for players to choose the merchandise set they are interested in.
We noticed that the hype on NFT is on the rise. The game Guardian Star will incorporate many NFT projects in an interesting way in the following weeks.
Q: In addition to bringing high-quality products to users, KuCoin has always been committed to the construction of the industry ecosystem. Can you update us on your latest progress on this?
Johnny: Yes, as you may notice, we have relaunched our investment arm - KuCoin Labs - earlier this year.
An ecological fund of 50 million USD has been introduced by KuCoin Labs to support and incubate promising blockchain projects. By joining hands with partners such as AU21, SkyVison Capital, Polkastarter, Polygon Foundation, KuCoin Labs has supported a number of projects like Fractal Protocol, UnoRe, HurricaneSwap, DAOsquare, Swash, etc.
If you are building an interesting project, you can reach out to KuCoin Labs through the application form for detailed information.
Another thing we are supporting is KCC. Though it's not developed by the KuCoin team, we are happy to contribute to it and we see huge potential in it.
This June, the mainnet of KCC and the KCC bridge were launched. The KCC team also launched the Grant Plan, which focuses on the development of the bottom layer, tools, and application on KCC, and the research on exploring protocols of the blockchain technology.
It's still in the early stage, but we have a long-term commitment to this. We welcome more promising projects to join the KCC to build a vibrant decentralization ecosystem together.
Q: We have noticed that the crypto industry has experienced bull-bear transitions, especially in the past year. Will the market fluctuations impact KuCoin’s future development and how?
Johnny: 2021 might be the best year for crypto.
Since last year, the market experienced a 312-plunge, Bitcoin halving, DeFi boom, memecoin hype, NFT summer...the industry is rising amid uncertainties and challenges, for sure.
Going through two rounds of bull and bear, KuCoin is maturing with the fluctuating market with improved security levels and customized products that can meet user demands in various market conditions, such as lending products, KuCoin trading bots that I mentioned earlier, Pool-X, and BurningDrop, etc.
The market is still evolving rapidly, what we can and shall do is to keep a close eye on it, adjust our development plan accordingly. Being agile is essential in this field and I think KuCoin is doing pretty good so far.
Q: Can you share with us what is KuCoin’s plan for future development moving forward?
Johnny: I would love to! And we thought much about this lately.
Looking at the development of crypto exchange in the past decade, all exchanges were focusing on making a better trading tool. It's important but not enough as more people are joining the industry.
After 4 years' development, we are thinking it's time to go beyond trading.
Just as I mentioned at the TechCrunch Disrupt 2021, we believe that a crypto trading platform in the future should also satisfy people's social needs in the crypto world, and KuCoin aims to gradually transform into the first and the largest Social Trading platform in the future.
Imagine that every KuCoin user can learn from the trading strategies of more experienced traders with similar risk appetites, get to know each other, and share trading experiences.
We have a vision that crypto trading will no longer be limited to a small group of experts. Instead, it will be open to everyone in a simpler way. And through the information and interaction services provided by our platform, a newcomer will have a bigger chance of getting higher returns in crypto.
In Q4 this year, we plan to launch a series of new SOCIAL features, allowing users to better understand and trade crypto on KuCoin, and find global crypto investors who share the same interest. Stay tuned!
You can check more info regarding our plan to make KuCoin a social trading platform through my speech at the Disrupt!
Q: What activities KuCoin will launch for users to celebrate its 4th anniversary?
Johnny: I will be quick on this one. Quite a few, actually. Some events have already started. We launched 1,000 exclusive NFTs for our 4-year anniversary yesterday and they were all drawn in a few hours.
While if you missed that, it doesn't matter as the KuCoin Crypto Friday is on the way.
You can see it as the Black Friday in crypto. In KuCoin Crypto Friday, users can enjoy prize draws and crypto discounts by participating in various game sections such as collecting coin shards, prize draw, crypto discounts, and red envelope rain. The event will start on September 29. Keep an eye on our announcement and don’t miss out.
We already have a warming-up announcement about the Crypto Friday, check it out to be better prepared: https://www.kucoin.com/news/en-kucoin-crypto-friday-is-coming-soon-follow-and-share-1000000-usdt-worth-of-prizes
Q: Hello sir, my questions are:
1. In 2017, when you started your new journey with KuCoin Exchange, at that time, many big companies were already established. So what was your motive behind making your KuCoin Exchange the best exchange?
2. After a successful 4-year journey of your KuCoin Exchange, now, what is your future plan for this company for the competitive crypto world?
Johnny: Thanks. I'm also an early crypto adopter, and I used multiple platforms to trade back in 2017. Although there were lots of players at that time, we believe the industry was still young and users were pursuing a more disruptive experience in crypto.
Our team has plenty of experience in making good Internet products, and when we think about how to improve better UX and products for users while bringing more innovation and creativity to the industry, we have so many ideas. This is my original intent of establishing KuCoin. In short, we hope to be the precursor to bring more products to all crypto users.
Per the second question, we always keep thinking about how to satisfy user demands by providing more innovative products and services to users. For instance, the social trading feature that I've mentioned previously to be launched in Q4, we believe that technological advance is the core to promote the development of the industry.
Q: Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
Johnny: For all crypto platforms, trust is always the core, and we always put the building of community trust above everything else.
The second important thing is to improve the user experience. How to make KuCoin a simpler, safer, and more interactive place to trade crypto always matters to us.
Regarding partnerships, we will assist all partners and projects in their further development in diversified ways such as token listing services, while helping promising projects in improving their market cap. We are looking for a win-win with our partners.
We do not care much about the short-term token price to be honest since we believe that as we continue to build, the price will take care of itself.
Q: NFT is getting more popular nowadays. It looks like NFT has a bright future. So do you guys have any plans to include NFT in your project?
Johnny: Yes, we have many plans around NFT. In our recent attempt, we introduced a game on KuCoin Win to distribute NFTs to investors in a more interactive and entertaining way.
KuCoin's NFT marketplace is also under development. It will offer a more user-friendly experience compared with most existing marketplaces, and we believe it will be the place where many people get their first NFT.
Q: Trust is very important in business. What makes investors, customers, and users feel safe when working with your project?
Johnny: Agree, trust is everything.
We aim to earn user trust by continuously improving the user experience. KuCoin has gone through various stages, ups and downs in market volatility, as well as security challenges. Just as with our positive attitude towards all difficulties in life, we have to face them, take responsibility, and improve our capabilities to reduce the impact the bad things might bring to us and everyone surrounding us.
Therefore, we've put a majority of investment in improving our overall security level, and we'll keep close with our community to see what users are talking about, what they need, and think about how to improve their experience. I think staying with your users is always key to building trust and #MOVING4WARD together.
Q: What's your plan with KCC? You just talked about it but don't you think KuCoin should put some funding in it and make it competitive to BSC and ETH.
Johnny: Very good question. Oftentimes, we are thinking about what kind of public chain is most needed.
It's true that there are already many different kinds of public chains out there, some are technology-based, some are commercial-based. But I think basically a public chain should be driven by both community and technology.
We're happy to see that KCC has become a community-driven public chain and is completely run by open-source developers and community members. KCC has proven itself in the decentralized world by carrying out successful programs, the recent Grant Program, for instance, and it also provides a growing number of dapps to benefit KCS, the gas of the entire KCC ecosystem.
In the long run, KuCoin will always contribute to the development of KCC and KCS. The continuous expansion of the KCS ecosystem will benefit KuCoin in terms of its growth, and KCC, the public chain driven by KCS holders and the community, will bring more crypto gems and applications to the field bringing the industry to the masses.
KuCoin has given away a total of 500 USDT to AMA participants.
1. Red envelope giveaways: 400 USDT
2. Free-ask in KuCoin Telegram group: 100 USDT
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