KuCoin Community Chain Launches $50M Accelerator to Nurture Ecosystem Projects

The program will finance initiatives such as a developers bounty, hackathons, incubation funds, liquidity support and listing recommendations.

AccessTimeIconFeb 25, 2022 at 1:56 p.m. UTC
Updated Feb 25, 2022 at 2:40 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

The KuCoin Community Chain (KCC) has unveiled a $50 million accelerator program aimed at empowering projects in its ecosystem.

  • The program will finance initiatives such as a developers bounty, hackathons, incubation funds, liquidity support and listing recommendations, KCC announced Friday.
  • The KCC is a public chain project built by developers in the crypto exchange KuCoin community.
  • KuCoin's native token KCS is Ethereum-based and is one of many aimed at solving the problem of high gas fees (transaction fees) on the network. Holders of KCS (which stands for KuCoin Shares) receive a daily share of transaction fees accrued by the KuCoin blockchain asset exchange proportionate to the amount of tokens they hold.
  • The Singapore-based crypto exchange reached 10 million users in December, and records daily transaction volume of over $3 billion according to data by CoinGecko.

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Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.