KuCoin Labs Strategically Invests in MojitoSwap to Accelerate the Development of KCC's Decentralized Ecosystem

2022/03/16 10:00:00

KuCoin Labs announced a strategic investment to MojitoSwap, the first DEX on the KCC, to support the more comprehensive development of MojitoSwap in the KCC ecosystem. This investment is KuCoin Labs' first round of investment in MojitoSwap and is also the first time that KuCoin Labs directly invested in the KCC ecological native project.

The investment from KuCoin Labs will better assist MojitoSwap in improving its products, operations, branding, and liquidity. In the future, MojitoSwap will gradually improve the liquidity mining mechanism, expand support for NFTs, and create a more friendly product experience for the users. At the same time, MojitoSwap will also accelerate the support for native and cross-chain currencies on the KCC chain, and more projects will be launched on the MojitoSwap Launchpad and Bar.

It is worth mentioning that this round of KuCoin Labs' investment in MojitoSwap will gradually open up a more diversified form of resource exchange between KuCoin Exchange, MojitoSwap, and KCC, helping KuCoin to strengthen its in-depth development in the field of decentralized ecology.

MojitoSwap was officially launched in October 2021 and successively launched functions such as Trade, Bar (Farm), Wine Pools (Pool), NFT, Launchpad, etc. And in a short period of time, it achieved the No. 1 TVL and user rankings on the KCC chain. With the support of the KCC community, MojitoSwap has become one of the most anticipated comprehensive DEX on the KCC chain with its rich layout of product functions.

Not long ago, MJT (MojitoSwap's platform currency) was officially launched on KuCoin, which is the first time that KuCoin has supported a KCC ecological native project. At the same time, MojitoSwap Launchpad also completed the IDO sale of the virtual mining project CoolMining in the first two weeks and assisted CoolMining in obtaining nearly one million US dollars in sales within a few hours.

MojitoSwap CMO Gloria said: "MojitoSwap, as the first DEX on the KCC chain, is honored to have the support of KCC community users and KuCoin Labs. MojitoSwap is one of the basic protocols on the KCC chain. At the opening of the KCC Unicorn Contest, I hope to use this investment to cooperate with more KCC ecological projects to jointly build the future of MojitoSwap and KCC. At the same time, we will also focus on promoting the further development of DeFi, GameFi, Web3, and NFT-related tracks.”

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 600 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 10 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the top 5 crypto exchanges. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts.

To find out more, visit https://www.kucoin.com.

About KCC

KCC is a public chain project initiated and built by the developer community of KCS and KuCoin, aiming to solve the network latency and high gas fee of Ethereum. It is Ethereum-based and compatible with EVM and smart contracts to provide community users and developers with a higher-speed, more convenient, and lower-cost blockchain experience. 

About KuCoin Labs

Founded in May 2018, KuCoin Labs is the investment and research force of the KuCoin ecosystem. KuCoin Labs diversifies and intensifies investments into projects at an early stage to help more builders achieve sustainable growth and success in the decentralized world. KuCoin Labs now possesses a portfolio of over 50 projects, including Arweave, MultiVAC, CertiK, OneLedger, LUKSO, and Ankr, in sectors such as infrastructure, DeFi, and NFT. In April 2021, KuCoin Labs established a $50 million fund to find the next crypto gem, in November 2021, KuCoin Labs has introduced a $100 Million Fund to empower the metaverse ecosystem and other innovative projects, aiming to accelerate the development of underlying infrastructure by investing and incubating early-stage projects.

About MojitoSwap

MojitoSwap is a DEX running on the KCC with the AMM mechanism. It provides all-in-one solutions for on-chain assets with Swap, Bar (Farm), Wine Pool(Pool), Launchpad, NFT, and other functions.

MojitoSwap aims to provide users with an efficient and low-cost token exchange. At the same time, users could get their token value-added while using MojitoSwap. MojitoSwap also provides a safe, easy-to-use, high-liquidity, and basic DeFi protocol for KCC developers.