New chain integration: KuCoin Community Chain
Our resolution for the New Year came with the primary objective of improving HYVE further, expanding its initial collaborative scope. We are planning to introduce new and groundbreaking features that could facilitate and automate much of the freelancing process, be it through administrative tasks or simplifying work-related tasks. HYVE will ultimately enable freelancers to fully focus on creative endeavors and unlock their productive potential.
However, while there was no explicit mention within the roadmap of further improvement in our blockchain architecture, this fact came as a given, as we would not be able to build our Web3 ecosystem without future additions and improvements. That's why we are excited to announce we are deploying HYVE on our eighth blockchain to date - KuCoin Community Chain (KCC)!
If you remember Tudor's AMA with KuCoin on the 2nd of January, this would not seem like a surprise to you, as you would have had a glimpse into what was yet to come.
Let's do a deep dive and see why you should be excited about the KCC Integration, and some extra surprise for you!
HYVE x KuCoin - a tale as long as time
Before we do a trip down memory lane, our long-time supporters might remember the early days, when news about the $HYVE token represented the prime reason for excitement. For the newer supporters, we'll go back to Q2 2021, when $HYVE was listed on KuCoin, with two trading pairs on $BTC and $USDT, a move that signaled increased trust in our project, as it meant HYVE had passed the rigorous verification process.
HYVE
One aspect we were especially excited about in 2021 was the community of KuCoin, which sets it apart compared to other CEXs. Users take an interest in projects they encounter in trading, wanting to find out more information and use cases. It is no surprise that KuCoin has been the go-to exchange for many of our supporters, as $HYVE registers consistent volumes daily, with most of the overall trading occurring on its platform. We have been part of the trending and top gainers section on KuCoin numerous times, highlighting the increased interest in our project.
For those unfamiliar, here are a few words about KuCoin...
KuCoin is one of the leading CEXs, offering a diverse trading range of more than 800 digital assets!
Launched in 2017, it has rapidly grown to become one of the most popular platforms in the crypto space, preferred by users for its low trading fees, secure platform, and intuitive user interface that enables a straightforward trading experience for both novice and experienced users.
KuCoin also provides services such as spot trading, futures trading, and an initial exchange offering (IEO) platform.
What is more, we believe that the listing on KuCoin greatly benefitted our exposure as a project, providing increased outreach. Plus, we have participated in various co-marketing activities, including an all-access AMA straight after we all returned from the obligatory New Year Hangover.
Tudor provided some serious insights into what we were cooking, including the AI Agents, the Escrow Now functionality, and other features, later detailed in our comprehensive roadmap. Furthermore, Tudor discussed some more details about the inspiration for HYVE, as well as the HYVE team structure, enabling supporters and curious lurkers to get a personal glimpse into the project.
More on KCC as our 8th blockchain
The KuCoin Community Chain (KCC) is a decentralized, high-performance blockchain designed specifically to address the needs of the community within the KuCoin ecosystem. KCC provides a more efficient, cost-effective, and user-friendly platform for transactions and decentralized applications (dApps).
Another significant feature of KCC is its compatibility with the Ethereum Virtual Machine (EVM). This compatibility means that developers can easily migrate their Ethereum-based dApps to the KCC blockchain without significant modifications. It also allows for the use of familiar tools and programming languages, such as Solidity, further lowering the entry barrier for developers.
At the heart of KCC is its consensus mechanism, which is based on Proof of Staked Authority (PoSA). This hybrid approach combines elements of Proof of Stake (PoS) and Proof of Authority (PoA), offering a balance between high transaction speed and reduced energy consumption.
KCC also emphasizes community involvement and governance. The governance model is designed to be transparent and democratic, allowing $KCS holders to participate in decision-making processes regarding network upgrades, improvements, and changes. This community-driven approach ensures that the network evolves in a way that aligns with the interests of its users.
KuCoin Token ($KCS) is the native token of the KuCoin exchange, offering a range of utilities, as $KCS plays a central role in the KCC ecosystem. It is used for transaction fee payments, governance voting, and as a base currency for decentralized exchanges and other dApps built on KCC. The integration of $KCS within the ecosystem not only drives its utility but also aligns the interests of KCS holders with the growth and success of the KCC network.
And now for the surprise...
This would be no surprise for those who read the initial KuCoin AMA, but if you haven't, we're going to say it again: we're adding three tokens at the time of the KCC blockchain integration, namely $KCS, $USDT and $USDC. What is more, we are slashing fees entirely for listings made on the KCC blockchain, within those three currencies, for the first three months! Make sure you enjoy no-fee tasks and jobs until the 24th of April 2024.
We want to stimulate listings on the platform, while also providing the $KCS token with additional utility as a means of payment on HYVE and enable the KuCoin community to pay and receive payment for their services, removing intermediaries and hidden fees. Moreover, we are also adding the two largest stablecoins on the KCC network and eliminating platform fees, to encourage freelancers and clients to create listings on our latest integrated network.
What comes next for HYVE
As we are currently in the Wrap-Up phase for HYVE V2.5, we will be working to tie any loose ends and deliver incremental upgrades to our platform regularly. Thus, we are committed to introducing new features aimed at simplifying the lives of freelancers even further, with an upcoming surprise in the next few days. Can you try to guess it? Drop us a mention on X!