KuCoin (KCS) Rallies as Degens Turn to KuCoin Community Chain (KCC)
About four weeks back, cryptocurrency exchange KuCoin launched its KuCoin Community Chain (KCC) on mainnet.
Now, in less than a month, hundreds of projects have been launched on this blockchain. Recently, KCC launched its grants program and an ambassador program. As of writing, KCC Explorer isn’t really showing much data but mentions 17,842 transaction counts and just under $240k in transaction volume in the past 24 hours.
“The market conditions on Kucoin Chain are surreal, even in the degen realm,” noted crypto enthusiast Shual.
The first day I checked out KCC there was < 100 tokens. The day after there 500+ and it was 99% rugs 🥲 https://t.co/fdp63HRbsO
— Darren Lau (@Darrenlautf) July 12, 2021
KoffeeSwap is a popular project on the blockchain, which is a Uniswap inspired automated market maker (AMM), which Shual describes as a “rug store.”
Over the weekend, the team of KoffeeSwap assured it's just under 3k followers on Twitter that they have a long-term vision with the developer team still hard at work and not going anywhere.
They are currently working on performance improvements to help with the slower chart loading, bridging, and stablecoin plans, CoinGecko listing, and more new features.
Not just AMMs, the blockchain has many copy-pastas such as Shibance and KuDoge on it.
Interestingly, with no stablecoin on the blockchain, all the tokens on KCC are paired against the exchange’s native token, KCS.
This obviously has KCS soaring and becoming the second-biggest gainer, after AXS of Axie Infinity, in the past week with an almost 84% uptrend.
The $1 billion market cap coin is currently trading at $13.50 but still down more than 30% from its all-time high of $20.17 made in Jan. 2018, according to CoinGecko.