Crypto buying and selling platform KuCoin’s project capital arm, KuCoin Ventures, announced a strategic investment in sKCS.io, the flagship protocol for staking liquidity basically basically based totally on KuCoin Neighborhood Chain (KCC), Coin Journal learned from an announcement.
The KCC ecosystem governing constructing KCS Management Foundation is additionally taking fragment within the investment spherical.
What is sKCS.io?
The protocol gives true returns via a easy, easy DeFi product, enabling users to stake KCS and receive sKCS. They are going to utilize sKCS to rob fragment in assorted DeFi products to generate higher returns or get to unstake at any time.
sKCS.io gives users get right of entry to to one-click on DeFi protocol composability as an underlying asset protocol. It’s anticipated to turn out to be a broadly identified and popular asset on KCC besides offering shapely yields. On the moment, virtually 10,000 KCS are staked within the sKCS.io.
Supporting personnel growth
The investment will be aged to provide a boost to the growth of the sKCS.io personnel besides security, abilities, and products to introduce extra innovation and enhance user journey. The protocol will purpose emphasis on market vogue and cooperation with assorted KCC-basically basically based mostly initiatives to lag up KCC ecosystem development.
KuCoin CIO Justin Chou commented:
KuCoin is speeding up KCC ecosystem vogue as a finally crucial infrastructure to explore the Web3 atmosphere. sKCS.io will play a key purpose within the KCC community as the major liquidity staking protocol within the ecosystem besides possess unique utilize cases for the token. We’re excited to work with sKCS.io to facilitate the design of the KCC ecosystem.
sKCS.io CEO Duke Smith added:
Liquidity is indispensable for digital property. For us, it’s an honor to receive a co-investment from KuCoin Ventures and the KCS Management Foundation. With the give a boost to of both parties, we are able to work to form the KCC ecosystem and facilitate the free dawdle alongside with the dawdle of asset values.
A staking campaign will happen with the open of sKCS.io, the put users can stake KCS to allotment rewards. What’s extra, KCS whales can rob fragment and journey extra uncommon privileges.
