KuCoin, a leading global cryptocurrency trading platform, announced that its venture capital arm KuCoin Ventures, has made a strategic investment in sKCS.io, the first liquidity-staking protocol based on the KuCoin Community Chain (KCC). The KCS Management Foundation, a governing structure responsible for the development of the KCS ecosystem, joined the investment round.
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sKCS.io is dedicated to providing users with a simple and easy-to-use DeFi product with stable returns, allowing users to stake KCS and receive sKCS. sKCS can be used to participate in other DeFi products to obtain higher returns or unstake to KCS at any time.​ As an underlying asset protocol on KCC, sKCS.io helps users experience the composability of DeFi protocols in one click. Apart from the attractive yields that sKCS.io offers, it is also expected to become the next highly-recognized asset on the KCC. Currently, nearly 10,000 KCS are staked in the sKCS.io.
The financing will support sKCS.io’s team expansion and many other aspects, such as product, technology, and security to improve its user experience and launch more innovative products. With the official launch of sKCS.io, it will focus on developing the market and cooperating with more KCC-based projects to accelerate the prosperity of the KCC ecosystem.
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Justin Chou, the Chief Investment Officer of KuCoin, said: “As an important infrastructure for KuCoin to explore the Web-3 environment, we are accelerating the development of the KCC ecosystem. As the first liquidity staking protocol in the KCC ecosystem, sKCS.io creates new use cases for KCS, and plays an important role in the KCC ecosystem. We look forward to working with sKCS.io to facilitate the development of the KCC ecosystem.”
Duke Smith, the CEO of sKCS.io, stated: “Liquidity is critical for crypto assets. It is an honor to receive a co-investment from KuCoin Ventures and the KCS Management Foundation. With the support of both parties, we will work to build the KCC ecosystem and facilitate the free flow of asset values.”
With the launch of sKCS.io, a Staking campaign will be held, where users can stake KCS to share rewards. In addition, KCS Whales can enjoy more exclusive privileges by participating.
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