Last week, we presented our first This Week on KCC with an article about the overall state of KuCoin Community Chain. We used that article to give quick summaries of the coins on our Approved Coins list and what makes them unique. This week, we begin the real intention of this weekly series — to give a summary of the events of the past week. While KCC is still a new chain and there aren’t nearly as many new projects being listed as competitor chains like Binance Smartchain, there is still a good bit to talk about and keep up with.
No chain is immune to rugpulls and developer disappearances, and KCC had both over the last week. Kupcakeswap was a new dex that popped up and had a responsive team with a simple, themed website. There was a small amount of hype around the project. Upon launch, everything messed up. The developer muted the Telegram and released a statement which read, “yes it all sucks, I agree.” While people waited for answers and wondered whether is was incompetence or a scam, the answer was probably both. The staked LP was drained from the MasterChef to an outside wallet. After hours of waiting, everything disappeared. Estimates show the stolen haul to be about 5 or 6 BNB — hardly worth the effort, some might say. The biggest warning sign might have been that the front end still showed a BNB logo for KCS!
This incident should serve as a reminder to always do your own research. Try to be realistic and don’t suffer from FOMO in the early stages of a coin. At KCS Daily, we never give financial advice, but we do try to set an example with our Approved Coins list, which is extremely conservative in the coins that get listed. We wait for community feedback, developer activity and transparency, and a proven vision for longevity from the team before we begin considering any coins. Stay safe!
Onto the more optimistic events, there is actually a plethora of new projects showing up on KCC right now. KCC users are still weary of the slowness of new projects, but this is usually a symptom of being early on a growing chain. Let’s take a look at some of the new projects. Please note that this does not serve as an endorsement of any project. All of these projects are too new for us to have done our proper research into them. This only serves as a guide to point people in the direction they need to go do their own research! (We know that it’s common for people to say NFA and then imply differently, but we really mean this! We are not vouching for any of these projects!)
Probably the fastest growing of un-launched projects this week on KCC has been Dark Matter DeFi. We have to admit they have a very catchy name. There is a little bit of mystery surrounding Dark Matter DeFi, as they aren’t quite releasing their whole roadmap and tokenomics until later. Right now, they are in the process of setting up events to distribute the Founder’s Tokens, and they have released some (not all!) of the perks that will be granted to people who hold the Founder’s Tokens.
Here’s what we know about Dark Matter DeFi. According to their roadmap, they will have farming and staking pools. They have some sort of “alien story” that will be intertwined with their NFTs, and they hope to also implement NFT staking in the future. They also list “Dark Matter Vaults”, which could be similar to Dinoswap’s Extinction pools (speculation).
For more information about Dark Matter DeFi, you can check out their website, Telegram, and Twitter.
Another project that has popped up is Demxn, which aims to be KCC’s first gaming NFT. According to the website, the game will use in-game currency called SXULS to make purchases and upgrades. SXOULS will be reflected to holders of the main DEMXN token. The project is currently a work-in-progress, but the head developer states that he has 20 years of experience creating apps and websites. The game is described as a fantasy-themed RPG.
The website definitely has a unique theme and is well put together. They already have their token listed on KuDex’s presale launchpad, with a soft cap of 6,666 KCS and a hard cap of 66,666 KCS, which is certainly ambitious. The developer has expressed an openness to branching out to other chains, but states that he wants to see how the KCC community works out and is also open to focusing completely on KCC.
For more information about DEMXN, you can check out their website, Telegram, Twitter, and Medium (for much more information about the game itself).
With a TVL of around $50,000 on Binance Smartchain, and a TVL of around $20,000 on Polygon, Ham Defi (Oink’s second layer token) has now branched out to KuCoin Community Chain! One unique feature of HAM is the “random locking” feature. At the time of this publication, Ham Defi sports a whopping $171,139.95 TVL for its brand new KCC dex! Hopefully this helps to ease fears that KCC is slowing down, as a brand new project has been released and already outperformed the projects on two other chains!
Ham Defi is the newest launch to occur, and KCS Daily has not had a chance to really research all of the features that are already live on the project. The “random lockup” feature is implemented with the hopes to reduce massive harvest sells by locking up tokens within a minimum and maxium range of time. Current farming includes HAM, stable coins, WKCS, and BNB.
If you want to learn more about Ham Defi, you can check out their website, Telegram, Twitter, and RugDoc audit (for BSC/Polygon).
KsfSwap is the most established on this list. They are a recently launched dex with a large following and have had recent success with their native KSF token climbing over $3.00. Their farming supports stable coins, KUS, KOFFEE, KAFE, and others. Their solo staking has an Automatic Restaking pool and a Manual Restaking pool. The website lists an upcoming KFO and lottery system. They also hope to implement a governance system, NFTs, NFT gamification, prediction markets, and more!
You can find out more about KsfSwap by checking out their website, Telegram, Twitter, and gitbook.
Finally, we’d like to quickly share with you some contests that are currently ongoing on KuCoin Community Chain.
First of all, KuSwap has a massive “trading competition” that they have implemented. You can find more information in their Medium article about it.
COVIDKunks is also running a daily competition for anyone who mints their kunks. You can find more information on their website.
Bit Kitties is an NFT project that with cool pixelated cats, and the Bit Kitties community has been running tons of contests, from drawing and singing competition to stories about peoples’ pets. Winners have been getting custom art showing their pet’s photos in pixelated form!
KuCoin Community Chain is building! Come join us!
