In the first days of July, as we explained in a Medium post, we were applying to the KuCoin Community Chain Grant Program sponsored by KCS Foundation.

The two main reasons

1) Time

The last day for the application review by KCS is the 28th of July, this means that to be funded the estimated waiting time was 1-month minimum, and as we all know, timing is very important in the crypto-space especially in an early phase like this.
In one month a large number of competitors could launch their project directly by selling their tokens to the public, growing their community and gaining shares of the market.
With a Token Sale we can save a lot of time and move faster, launching our platform, listing $KCCS and adding us to price-tracking websites such as CoinMarketCap and CoinGecko by the end of July.

2) Distribution & Community

KCS Grant Program rules forbid projects like us to sell tokens, this means that all $KCCS should be airdropped to users that meet a list of standards set by them, for example holding a certain amount of KuCoin Shares.
As you can understand there are thousands of KCS holders and maybe just a small percentage noticed that they received an airdrop and just a part of these are really interested in our project.
$KCCS is the key to invest in projects launched and to vote in the DAO, since that we can’t have a high number of “passive” holders because this would mean that projects won’t reach the hard cap and DAO votes will no meet the quorum.
Furthermore, without selling tokens we couldn’t create a strong community of supporters that could help us to have a boost in the crypto-space and we couldn’t close deals with VCs/Funds that can really be helpful by helping us closing partnerships and with marketing strategies.

Tokenomics

We decided to release tokens to participants using the following schedule:

  • 40% at TGE, 30% after 30 and 60 days for Presale
  • 50% at TGE, 25% after 30 and 60 days for Public Sale

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In the next days, we will share new details about Tier Levels, make sure to follow us!

The first launchpad built on the KuCoin Community Chain.