Charting The Course Of KuCoin: 3 Years And Counting

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This month marks three years since KuCoin launched its exchange. KuCoin made great progress in fixing issues that they know have been plaguing them for a long time and investing in innovative new features they hope will build the foundation of the next phase of KuCoin.The platform started as a crypto-to-crypto trading platform, but quickly expanded as it gained popularity. Months after going live, KuCoin became the world’s largest cryptocurrency by trading volume alongside Binance. Although not as contentious as the said exchange, KuCoin has worked hard to become one of the most prevalent exchanges today. Ever since launched, the exchange has always stuck to its values which is to provide amazing customer service and to help propel the crypto space with equality. KuCoin has grown rapidly that they already have over 6 million registered users from a hundred countries and regions. In many aspects, Year 3 of the KuCoin journey is all about ingenuity.

Ingenuity, More Options
Amidst the bear market of 2018, the team never ceased to work on building stronger foundations and closer communities. This has led KuCoin to gradually enriched its product line and successfully launched Spotlight, KuCloud, KuCoin Futures, P2P Fiat Trading, Margin Trading, Pool-X, KuChain, and more. Additionally, KuCoin has often been considered to be skilled at finding "hidden gems" in the field of blockchain. It listed over 250 high-quality blockchain projects, supporting approximately 450 trading pairs. Year 3 was also when KuCoin started turning its vision of launching fiat-to-crypto gateways into reality.

KuCoin Global CEO Johnny Lyu recently highlighted the company’s objective to expand its fiat gateways across multiple markets. The Seychelles-based crypto exchange started offering credit card support for 50 fiat currencies as it set its sights across many different countries and regions to purchase cryptocurrencies. More recently, KuCoin announced that its P2P Fiat Market had added support for 11 fiat currencies including CNY, AUD, USD, and more allowing traders to buy digital assets such as USDT, BTC, and ETH conveniently via payment platforms like PayPal.

KCS Poised To Rally
Despite the growth and ingenuity which has led to unprecedented heights for KuCoin, however, the exchange's native token has entered a stagnation phase and couldn't keep up with its proliferation. Although the function of KCS is as many as the exchange token in other channels, pay trading fees, get VIP rights, etc., and KCS also has plenty of use cases outside of KuCoin in traveling, gaming, financing, social networking, and other industries, the value of it still felt short.

It's pretty obvious that 95% of KCS's utility is tied to the network of KuCoin which indicates a large room for KCS growth. One can healthily assume that once KuChain is live, the exchange has proved a point and is therefore witnessed as a more secure play vs speculation and this creates more grounds and generate more attention towards the coin. Not to mention IEOs using the Spotlight and DeFi projects that will jump on the KuChain. It's quite fascinating to think about all of these use cases. Moreover, given the assets' low total supply and constant token burns, KCS can become the next BNB in a short time frame. BNB represents all the excitement and innovations that Binance and its subsidiaries are bringing to the world of cryptocurrency, the same can be said for KCS.

Supporting Crypto's DeFiant Rise
Decentralized finance (DeFi) is recognized as the major catalyst for the boom in crypto markets this month. During the period, Ethereum, perhaps the most commonly used blockchain in the DeFi space, rose by 90% from a low of $230 to a two-year high of $440, Chainlink, listed as the top token on CoinMarketCap’s DeFi list, recorded a 260% rise from as low as $7 to its all-time-high of $18. It is clear that people want DeFi. And we are heeding that call,with the most recent actions KuCoin is making in its ecosystem. KuCoin never tried to hide its DeFi ambitions, often pushing for KCS utilization as the only liquidity option to access its next round of DeFi IEO.

Velo is an open financial protocol which is poised to become the largest decentralized settlement network in Southeast Asia. Supported by dozens of leading Asian corporate groups like CP Group, Lightnet, UOB Ventures, Seven Bank, and HashKey Capital, Velo is expected to become the first blockchain project that brings DeFi to the masses. Meanwhile, the launch of KuChain appears to be aimed at the opposite approach — instead of bringing KuChain into DeFi, the company seeks to bring DeFi and DEX projects to KuChain.

While this remains to be seen if the ecosystem will be able to compete with other public chain’s considerable network effects, despite the promise of a faster blockchain and direct support. In the meantime, KuCoin began opening itself up to DeFi on its main exchange, listing tokens like ORN, LINK, UMA, LEND, AKRO, and many more.

Strength In Numbers
In light of the above progress on KuCoin's development path, all the growth and innovation that they achieved as a team in Year 3 would not have been possible if not for the KuCoin community.

Globalization is the backbone of KuCoin, and that's a strategy the exchange has been practicing as it keeps expanding. Over the last 3 years, KuCoin has gained 6 million users worldwide, achieved $80 billion in accumulated trading volume, and proceeded with 670 million transactions. Bringing its ever-expanding community closer, KuCoin connects more than half a million users with its Global Communities, supporting over 20 languages and over 50 fiat currencies. KuCoin also pioneered such advanced service concepts as one-on-one support and 24/7 customer service, which have become industry standards.

Growing The Team
With the expansion of the KuCoin ecosystem and so many things happening, the team is expanding and growing rapidly as well. Meanwhile, KuCoin made some major adjustments to the company's structure and built the best team structure to support its long-term development.

From its initial team members to a global team of more than a hundred members, KuCoin has attracted a large number of programmers, engineers, and marketers who have a passion for technology and blockchain. Evident to the team's instinctively adoration for technology, which may have something to do with the technical background of KuCoin's founding team. In the past three years, the team has spent most of their time and energy on technology, and self-developed the KuCoin 2.0, WAF protection system and L3 data push mechanism, etc,. Looking to the future, KuCoin plans on continuing to develop products and finetune its platform to create the optimal user experience for anyone looking to understand more about crypto assets.

Looking Ahead
Achieved by integrating premium assets worldwide and constructing a state-of-the-art platform, KuCoin’s main objective of introducing all these products is always the same, making KuCoin the best place for users to store and trade crypto. And they are still working hard to make the experience more friendly.

Through its third year of existence, KuCoin is about to celebrate it in the way they want to thank their users with a flurry of new promotions offered over the next few weeks. Make sure to check some of the important details and highlights from KuCoin’s eventful Year 3 for a chance to win huge prizes and much more!


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