An Insight into KuCoin Plus

What is KuCoin Plus?

KuCoin Plus is the area designated for top-ranked tokens – the top 40 according to Coinmarketcap, that is. The token’s volume and performance will also be reviewed, with those holding a position in the top 10% for a consecutive two month period being eligible into the exclusive trading area. Of course, tokens that make it into KuCoin Plus will be reviewed regularly based on these criteria to ensure they maintain their performance.

The KuCoin Plus trading area enjoy numerous benefits and opportunities. First and foremost, they are placed prominently before the main market. The designation and promotion of KuCoin Plus also highlight that these are high-quality projects that have passed not only the strict screening process but also the regular review process. Therefore, they can be generally regarded and lower risk than those in the main market, though users are still encouraged to perform their own due diligence.

Here are a few examples of projects currently in the KuCoin Plus trading area.

 

MakerDAO: The Lending Platform

MakerDAO logoMakerDAO is a decentralized platform that focuses on decentralized exchanges. It’s two token system consists of Makercoin (MKR) and DAI (DAI), which are both ERC tokens. MakerDAO’s MKR token is used in the DAO to govern DAI and pay the ‘stability fee’, an annual fee that is paid to receive DAI.

The trading pair MKR/BTC was promoted to KuCoin Plus. MKR is a utility token, governance token and recapitalization resource of the Maker system. It is a requirement for all users on the platform as it is the currency used for paying fees related to the CDPs. CDPs are the smart contracts used by MakerDAO to generate DAI. This MKR payment fee will be burnt and removed from the circulating supply.

Summarizing MakerDAO’s System

As MKR is a governance token, its role is to allow MKR holders to vote regarding risk management and business logic of the Maker system. This is crucial for the survival and long term running of the system. Votes are taken on specific risk parameters for collateral asset and CDP type.

The voting process uses a continuous approval model, where every MKR holder can vote for any number of proposals using their held MKR. The idea is that 1 MKR is equal to one vote in any proposal. New proposals can be submitted, while votes can be cast or withdrawn at any point. Following proposals, there is a security delay that will allow the community to react and prevent malicious activities from going forward. As well as voting rights, holders of the token can also decide when to create or destroy DAI tokens, and so are incentivized to run the platform.

It is difficult to talk about MKR without talking about DAI. DAI is the soft-pegged stablecoin, with a stable value relative to USD. It is the first of its kind to be built in Ethereum. It uses the CDP smart contract platform to stabilize the value of DAI to one USD, making use of several mechanisms such as economic incentives and external market mechanisms. Thanks to the smart contracts, DAI is verifiable, while with other stablecoins, it is difficult to verify their backing. The high level of transparency, together with the more decentralized Maker platform gives DAI more of an advantage over other stablecoins.

EOS: The Decentralized Platform for Apps

EOS logoEOS is a blockchain platform that is focussed on developing decentralized apps (dApps), operating in a similar fashion to Ethereum. The ultimate goal for the project is to gather the best, most promising features of the various smart contract technologies together. EOS/BTC trading pair was promoted KuCoin Plus.

The aim is to provide one simple to use, scalable dApp platform for all users. They are building a blockchain dApp that can scale up to thousands of transactions a second while maintaining a high level of security and the best user experience possible.

Defining EOS’s Vision

The vision of the EOS project is to build a blockchain dApp platform that is accessible, secure, and scalable. They hope to become a complete operating system for dApps by introducing new services such as server hosting and user authentication.

The community is important for the project, as their support will help shape and build the platform. Whether investors, contributors or just those interested in the prospects of dApps, EOS has been active in creating a following across social media. Meetups are common too. Ultimately, the goal is to draw in developers and teach potential users how to use the platform to build up the portfolio of more than 100 dApps already on the EOS network. Their most active application, PRA CandyBox, has just over 6000 daily active users, substantially higher than Ethereums most popular dApp, the IDEX decentralized exchange, which sees just over 1000 daily active users.

EOS also provides a venture capital business, aimed at supporting the ecosystem through partnership funds that will invest in a diverse portfolio of blockchain-focused companies that are built on the EOSIO software. The ultimate vision is to assemble the most knowledgeable, capable advisors in the industry for mentoring and strategy for blockchain-based developments and entrepreneurs globally.

Tomochain: The Scalable Blockchain Solution

Tomochain logoTomochain is a project that aims to be the most efficient blockchain for the token economy. The TOMO/BTC trading pair was promoted to KuCoin Plus. Coined as the solution to the Ethereum blockchain’s scalability problem, Tomochain relies on a system of 150 masternodes with proof of stake voting (PoSV) as the consensus mechanism. This allows the project to support near-zero fees with just a 2 second confirmation time for transactions.

The blockchain is able to provide security, stability, and chain-finality through numerous novel methods. Similarly, new scaling techniques make TomoChain’s masternode architecture ideal as a smart contract public blockchain for decentralized apps, token issuances and token integrations for businesses of all sizes.

The platform has numerous use cases from social networking and e-commerce to food traceability and open banking. With this ecosystem that utilizes the Tomochain blockchain, it is clear that the economy of ‘internet of value’ has proven its worth.

What are TOMO used for?

Tomocoin (TOMO) is the native currency of Tomochain’s blockchain. It is used as the main currency on chain, the only one that can be used to pay for the fees. Staking is another use for TOMO, where the coins need to be staked in an effort to secure the blockchain and allowing the ‘staker’ to vote for masternodes. Speaking of masternodes, they will be the only ones capable of retransmitting transactions through the blockchain. To do this, a stake of at least 50k coins will be required.

The Best of KuCoin

KuCoin Plus serves as a tool for promoting high-quality projects such as these and bringing them into the limelight. The prominent positioning brings more attention to this area and so users can know which projects show promise and so should be researched into further. A variety of different projects currently occupy this space, each with their own uses and goals. This just goes to show how diverse the world of blockchain and cryptocurrency has become and the different areas it is looking to improve.


Check out all the projects that KuCoin Plus has to offer.

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