KuCoin to Launch Velo Protocol With Platform’s 3rd Anniversary

KuCoin, a self-described “global cryptocurrency exchange for numerous digital assets and cryptocurrencies,” has revealed updates to the platform as well as a Porsche 911 giveaway in a new press release from the group.

On top of this giveaway, it will also pass off an iPhone, merch, token rewards, and more.

That and the Velo Protocol, the platform’s 8th Spotlight project, will launch alongside this. The release describes Velo as:

“An open financial protocol that aims to build a decentralized settlement network that allows partners to safely and securely transfer value between each other in a timely and transparent way. Supported by dozens of leading Asian corporate groups, like Lightnet, UOB Ventures, Seven Bank, and HashKey Capital, Velo is expected to become the first blockchain project that brings DeFi to the masses.”

The platform’s test network, Kratos, will also run an initial token distribution during this time. “KuChain and Kratos are public chains that are oriented to the needs in the DeFi field, and they provide even more stable underlying environments for decentralized applications, including DeFi and DEX. KTS token distribution will be conducted with LockDrop.”

Speaking on the matter is Johnny Lyu, the CEO of KuCoin Global, who said:

“The 3rd anniversary is a major milestone for KuCoin. We have grown from a 7-person team into a global enterprise that employs over 300. From serving a few countries in Asia, we now have 6 million users in 207 countries and regions all around the world.”