Not everything was bad in the first half of 2022: take a look at KuCoin figures — Infographic
“Avant-garde” is a term of military origin, used to refer to the most advanced part of an army. The “avant-garde” concept is part of an ancient division in armies, dating back to the Middle Ages, which distinguished between the rearguard, the bulk of the army, and the vanguard, which is the body of the army made up of the fastest, lightest and bravest men.
Due to the fact that the “avant-garde” directs the march of the troops and opens paths, some of its functions are the exploration of the terrain, the clearing of potential dangers for the advance of the army, the search for enemies, the dismantling of traps or ambushes, as well as the occupation of the most advantageous positions on the battlefield (heights, trenches, etc.).
The “avant-garde” concept has gone beyond the military sphere to become a general ideology to designate entities that are at the forefront in their fields of action. Specifically, in the business field, it refers to companies that stand out, that lead the way, and that displaces the competition in various attributes. Marketing uses the term “avant-garde” to position a company and its products and thus mark the course of a sector so that other competitors line up to follow it.
According to Johnny Lyu, CEO of KuCoin, “KCS will build a bridge between the centralized and decentralized world by connecting KuCoin and the KCC community, and lead the way for the creation of a self-circulation ecosystem with the community support and bring the blockchain from the geeks to the masses”.
This is an “avant-garde” statement.
From a strict marketing point of view, KuCoin is taking ownership of various concepts, such as “people’s exchange”, “self-circulation ecosystem”, and “from the geeks to the masses”. In this sense, I do not see in any other direct competitor the development of an “avant-garde” marketing discourse, that is, the close direct competitors are paled and become part of the “more of the same” swarm. In other words, they become “NO-BRANDS” as opposed to an “avant-garde” “BRAND” like KuCoin. The products, and by extension the companies, that do not have a BRAND, are “commodity” products or companies. Marketing works precisely to “un-commoditize” a product and shows the market the uniqueness of a BRAND.
Now, in an industry that is just beginning like blockchain, Web 3.0, and decentralization in general, which has not yet developed its fundamental pillars, the main competitors are not really competing against each other, but against the traditional structures of the industry that they are substituting. Competitors “help” each other in this process, even though some, like KuCoin, take the lead to develop competitive advantages that they will take advantage of at the time of market consolidation when fundamentals are needed to win the competitive battle between peers. A competitive advantage is a differentiation that cannot be copied. For example, no one can ever copy a KuCoin “the people’s exchange”.
However, KuCoin is built for all classes of investors. KuCoin is the top 1 altcoin exchange, with 700+ assets and 1,200+ trading pairs. A number of crypto gems like BLOK, CHMB, VR, KMA, and DAO had their primary listing on KuCoin. KuCoin currently provides Spot trading, Margin trading, Trading Bot, Convert, P2P fiat trading, Futures trading, Cloud Mining, Staking, and Lending to over 18 million users in 207 countries and regions around the world.
According to CoinMarketCap and CoinGecko, KuCoin is a top 5 crypto exchange.
On May 10, 2022, KuCoin announced a $150 million Pre-Series B Funding Round, bringing its valuation to $10 billion.
Here is an infographic showing the evolution of KuCoin during the first half of 2022.
Infographics are usually very attractive, but space is tyrannical, and sometimes a little more detailed explanation of the items shown there is necessary.
Here are some expansions of the topics shown in the Infographic regarding the evolution of KuCoin in the first half of 2022.
KuCoin Labs. KuCoin Labs is KuCoin’s new incubator, aimed at powering cryptocurrency development in its early stages. As a first step, the KuCoin team has established a fund of 50 million for this purpose. The launch of this incubation and research program is not new to the KuCoin ecosystem. The predecessor to KuCoin Labs was the “KuCoin Incubation and Investment Program”, which was established in May 2018. KuCoin Labs is the rebranding of that program with the launch of a $50 million fund. KuCoin Labs seeks to bring together a group of crypto experts who have been engaged in market research, analysis, investment, and incubation in the cryptocurrency industry for a long time. If you think you have what it takes, you can submit your application to this link. The portfolio projects of the former will be under the umbrella of KuCoin Labs. This means that it now owns a portfolio of more than 50 Defi and NFT projects. But the KuCoin Labs program will not only focus on direct funding of early-stage projects but will also empower the development of high-quality blockchain projects through marketing and PR support, support for trade associations, secondary market fast track, blockchain technical support, legal advice, business planning, token economy design and the like.
KuCoin Ventures. KuCoin Ventures is a leading investment arm of KuCoin Exchange that aims to invest in the most disruptive blockchain and cryptocurrency projects in the Web3.0 era. Committed to empowering Crypto/Web 3.0 Builders with deep insights and global resources, it is also a research-driven, community-friendly, full-stage corporate company focusing on Defi, Game-Fi, and Web 3.0 infrastructure, working closely with its portfolio of projects along the path of entrepreneurship.
Gems. This is what new projects that have great potential to grow spectacularly after their launch are called. If there is something in which no company can compete against KuCoin, it is in the listing of new projects. Being the top 1 altcoin exchange, KuCoin permanently brings a series of hidden gems to the crypto sphere. In the first half of 2022, KuCoin listed 137 crypto assets, which led to more than 700 cryptocurrencies listed that can be traded on KuCoin. Of those 137, 31 had their first listing on KuCoin, including 5 projects on KuCoin Spotlight and 5 on KuCoin Burningdrop.
Fiat Trading Pairs. For the first time, KuCoin supports pairs against fiat. At the moment EUR against blue chips like BTC, ETH, and USDT. But it seems that many others will soon be added.
Cloud Mining Goes Live. Kucoin Cloud Mining is a cryptocurrency mining model that uses rented computing power in the cloud. Cloud miners do not need to own expensive, complicated, and power-hungry machines. They also don’t have to maintain them. They participate in the process of solving math puzzles 100% remotely, paying only a small basic fee. KuCoin Cloud Mining has made cryptocurrency mining accessible to more investors. To mine cryptocurrencies with a GPU or ASIC, a lot of technical knowledge is required.
KuCoin Cloud Mining allows you to start the process with a single click. You just need to buy a mining contract.
KuCoin Cloud Mining is an excellent option for people who want to participate in cryptocurrency mining but do not have a large enough money to purchase the necessary equipment. This option will also benefit investors who do not want to worry about issues such as equipment maintenance.
Convert Function. KuCoin added a convert function to make trading easier. The trader avoids making tedious operations in the spot market by going through other currencies. With this feature, crypto conversion is done in one click and with no hidden fees.
Isolated Margin. This is a sophisticated trading function released in February 2022. Unlike cross-margin, in isolated leverage mode, each pair constitutes an independent position and has a specific account. The debt ratio of each transaction is calculated independently for each pair and does not affect the others. As of now, over 70 tokens have been supported in Isolated Margin trading, making the total margin pairs over 200.
OCO Order. In June 2022 this variant was introduced. An OCO (One Cancels the Other), is an order that allows traders to take a position through two separate orders, combining a “limit order” with a “stop-limit order” that is taken at the same time, although only one of them is executed. The moment one is executed, the other is canceled.
KCS Whitepaper co-released with KCS Management Foundation. KCS Management Foundation is a governing entity made up of multiple stakeholders including the KuCoin core team, KCC GoDAO foundation, investment institutions, and representatives of the KCS holder community, among others.
KuCoin Token (KCS) is a deflationary digital asset that achieves its deflation structure by performing a regular monthly buyback and burn from the secondary market. The final supply of KCS is planned to stabilize at 100 million through the use of its burning mechanism. The amount of KCS burned is calculated based on KuCoin’s overall monthly income.
What was laid out in this KCS Whitepaper is the focus on the KCS ecosystem’s scaling. The mechanisms designed to accelerate the value growth of KCS have been illustrated and the distribution plan of the 90 million KCS in lock-up has been clarified, in which 20 million KCS will be burned permanently. The KCS Whitepaper also highlights that KCS will build a payment system and a web3.0 ecosystem to empower KuCoin’s web 3.0 strategy, by exploring and implementing the following areas: DIDs (Decentralized Identifiers), NFT ownership rights, management and transaction, and construction of metaverse network platform.
The new co-released Whitepaper outlines the concept behind the distribution of the 90 million initial KCS lock-up. Of the 65 million KCS held by the founding team, 20 million will be burned for the first time permanently to accelerate the deflationary process of KCS. The mechanism is implemented to maintain price dynamics stable over the long term. 20 million will be used as long-term incentives for KCS holders and ecosystem contributors, and 25 million will be donated to the Foundation and gradually released in 5 years. For the 25 million KCS held by the initial investors, 18 million will remain with the early investors and be released linearly over 5 years, and another 7 million will be made as a donation to the KCS Management Foundation to further enrich the ecosystem.
Wonderland. To strongly show and make clear its “avant-garde” position and its intention to promote growth in the blockchain, metaverse, and web3 gaming environment, KuCoin presented the IGO (Initial Game Offering) product, through the NFT launch platform called Wonderland. KuCoin IGO users will be able to manage their NFTs on the platform, and game developers and creators will be able to launch their creations on KuCoin IGO. Pikaster was the first to reach KuCoin IGO.
The card battle game features its own NFTs to enable a Truly-Play and Truly-Earn GameFi project. Pikaster leverages a three-token economy model, profit sharing system, and wallet, while also offering multiple game modes. Developed by Metaland, the game takes advantage of the KCC blockchain. KuCoin made a strategic investment in Pikaster through its KuCoin Ventures arm in March 2022.
Wonderland is one of KuCoin’s developments to fully enter the Web3 ecosystem. Wonderland is an interactive platform for the launch of NFT gaming, which allows users to buy, invest and manage their NFTs within the platform’s games. It was launched in April 2022 and has already completed the sale of NFTs for 4 projects, with a total of 46,000 NFTs sold and a volume of 1.5 million USDT. KuCoin is ready to open up to the world of NFTs with Wonderland. It is a community-focused cryptocurrency trading platform. The platform offers users the opportunity to earn KCS token rewards for participating in the platform. There are also special events and promotions for KuCoin Wonderland users. Some projects or sales are only available for whitelisted users. Users can launch their in-game ítems through flat sales, auctions, and mystery boxes on Wonderland.
So far, Wonderland supports KCC and Polygon networks, but ETH, BSC, and SLP are coming soon.
Windvane. Windvane is another Web3 project. It is the KuCoin Marketplace for collecting NFTs, digital collections, digital art, and game consoles. After its launch in April, more than 1 million signatures were registered on Windvane. To encourage the adoption of NFTs, a $100 million Creators Fund was launched in conjunction with KuCoin Ventures, the investment arm of KuCoin Exchange.
Windvane launched NFT Launchpad with Zzoopers as its debut project. Zzoopers, an NFT project that allows users to collect and use lovable animal avatars as digital identities across many different Metaverses, became the first NFT project available to users. Zzoopers Genesis, built on the Ethereum Blockchain, is a collection of 5555 unique animal avatars of different species, endowed with a wide range of personalities and traits. In fact, Zzoopers Genesis had its initial sales on the Windvane NFT Launchpad in June 2022. And also in June, Windvane held a whitelist event through Twitter and Discord, to select 500 winners.
Torches Finance. This is my favorite KuCoin project of the first half of the year. Torches Finance is a decentralized non-custodial liquidity protocol based on the KuCoin Community Chain (KCC). Torches Finance combines lending, leveraged mining, and unprecedented NFTs, with the advantages of ultra-low barriers to entry, highly transparent smart contracts, an innovative economic model with incentives, and DAO autonomy. Torches take multiple risk control measures to maximize the security of users’ assets. Due to frequent security incidents in the industry, Torches Finance has carried out many security tests and designs on the business model. Avant-Garde Defi.
Torches Finance announced that it has received seed funding from KuCoin Ventures. KuCoin Ventures and KCC will jointly incubate and empower Torches Finance to build the infrastructure foundation for KCC. Torches will leverage seed funding in product development, technology innovation, security, marketing, and other aspects to increase protocol adoption and market share. For example, in terms of products, Torches will further improve accessibility, optimize user experience, upgrade product features such as leveraged mining and NFT, and continuously expand the richness of Torches services. In terms of technology, Torches will continue to improve the transparency of the protocol and will work with the KCC to increase the adoption of the protocol.
Pyth Network. The market generally assumes that all oracles are the same: any and all pricing sources are excellent and will always present the most correct rates. However, this can be a serious mistake. Oracle platforms must constantly ensure a high degree of reliability by presenting the correct pricing information; otherwise, there will be money lost for downstream customers. Pyth focuses on 3x reliability. Pyth has a backup schedule in place if Oracle fails. In the white paper, Pyth has proposed a mechanism for this goal. Pyth’s initial line of defense is to set up mechanisms and assemble admittedly high-quality sources of information. Pyth would like to give a clearer picture of how they fight for the reliability of their pricing information sources. Pyth set out to model probabilistically, quantitatively, and optimize for optimal self-confidence. KuCoin made a strategic alliance to work with this Oracle and guarantee the security of external market prices and its connection with the exchange ecosystem.
The definitive search of any company is to search and obtain a BRAND, which is much more than a TRADEMARK. The BRAND is the most important asset that a company has, and it has two fundamental characteristics, first, it is an intangible asset, and second, it is not physically inside the company, it does not even appear on the balance sheet as inventory, but is outside, in the market, in the minds of consumers, whether or not they consume that BRAND.
A product or a company is not a product but three products at the same time: a Physical Product (PHP), (the tangible that the company delivers), an Imaginary Product (IP, what people buy, ultimately the BRAND), and an Economic Product (EP, the number of units of account in which the buyer and seller agree).
KuCoin is a truly new product launch (PHP) power-house, and we have been bombarded with new projects during the first half of the year, to the point that it is difficult to digest them all and integrate them into a coherent investment strategy. This is what is called brand building (IP) through the launch of new physical products (PHP). This has always been Apple’s strategy, and we could say that it went quite well…
If for some reason you still do not have a KuCoin account, you can join this incredible and vibrant community with my referral link, and start doing crypto-business in its most varied aspects, since you have everything at your disposal on a single platform. Web 3.0 is just in its infancy. This is the moment.
Thank you for reading! Decentralize yourselves as much as you can, and much more! Work for yourselves, not for others. When you work for someone else, they pay you what YOUR POSITION is worth, when you work for yourself, they pay you what YOU are worth. No one achieves financial independence by working as an employee. Live long and prosper!
As usual, none of the things written in this post are financial advice and are not intended to replace personal research. My sole intention in writing this post is informative. Several of the things discussed here could be wrong, so in no way can this post be construed as financial advice, and in no way should it replace your own research.
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