Recap of the live AMA with Kucoin CEO Johnny Lyu

Community:
lets start by a short intro of yourself and how you came to be the CEO of kucoin? :)

Johnny Lyu CEO Kucoin

Hello everyone, Johnny from KuCoin here. As you might know, we recently announced the establishment of KuGroup and Michael moves to the chairman of KuGroup, I will take over the role of KuCoin Global CEO

Actually I joined KuCoin as the cofounder in 2017, I used to manage the listing, BD and investment team of KuCoin

We know we have lots of supporters in this group, so very happy to be here today to meet all of you

Thanks a lot for your always support and feel free to let me know your thoughts and suggestions for KuCoin

Maybe we can start with a red envelope 🙈

Community:
would love the OCO order feature on Binance to be implemented on KuCoin

Johnny Lyu CEO Kucoin
Will check with our devs to see how it goes

Community:
ok lets start, how do you see the current market conditions, and what does it mean for kucoin atm?

Johnny Lyu CEO Kucoin,
Well, as we all can see, the global financial market is performing poorly recently, due to the coronavirus. BTC and most major tokens dumped a lot. But from our point of view, people are over-react on this

The whole market is waiting for two things, 1) recovery of the US stock market, and 2) new good news for the crypto market

Our recent announcement about KuGroup for instance, bringing some confidence to the market, and that’s why we saw positive movements for KCS and other tokens in this week
I believe many of you are investing for the long-term and the price will gradually return to the value.

Community:
send it!

Johnny Lyu CEO Kucoin
hahah sent already but more to come

Community:
can you lay down, what exactly this KuGroup announcement mean for the exchange and the future of it?

Johnny Lyu CEO Kucoin
We made this adjustment because of the development of our businesses. in early 2019, KuCoin only offers crypto-to-crypto service while we now offer a series of financial services including fiat-to-crypto, futures, staking and more. With this change, we will be able to further expand our services into new areas, KuChain, KuDEX, KuCloud and more

Community:
What are Kuchain top priorities for now ? And what steps will be taken in the future ?

How do you manage to implement your key features when it comes to mass adoption?

How can Kuchain be sure that validated files are not fakes?

Johnny Lyu CEO Kucoin
KuChain will be a trully decentralized publich chain. We are now working on the testnet and hopefully it could be launched in Q2. We will soon release more details and open the community for developers

Community:
I don’t know how confidential it is to ask about this: as a company, were you prepared or insured for big drops in the market like the one from several days ago?

Johnny Lyu CEO Kucoin,
I think exchanges won’t be suffered a lot from these market moves as the trading volume is often in line with the fluctuations. But such drop will effect our users like many of them may lose confidence on crypto. We would suggest our users to invest for the longterm

Community:
Is Kucoin easy for new users? What are the highlights that attract users of Kucoin?

Johnny Lyu CEO Kucoin
Yes, super easy. We now support 15 languages, 22 fiats, and we have many new features to help new users get on board. For instance, KuMEX lite might be the most user-friendly futures trading platform

Community:
What security measures do you have to ensure that all assets stored in your wallet are safe and secure?

Johnny Lyu CEO Kucoin
Yes good question. We have many security mechanism to protect our users and our system is quite stable and reliable. And we are working with many security company like Chainalysis and white hats to improve our security level. I cannot say too much as the hackers may watch as well. But for sure that trading on KuCoin is pretty safe. Let me know if you have any suggestions to make KuCoin safer 🙂

Community:
If Investors need to fully consider the market, who are which target group of audience are you after? And How do you convince them on joining?

Johnny Lyu CEO Kucoin
All traders are welcomed of course, while I think KuCoin is a better suit for people who believe in crypto. We often list projects with really good tech background and business ambition. The price of their token may not pump in 1–2 days, but their value will gradually reveal. That’s why we call them hidden gems

Community:
What plans do you have to increase liquidity on Kucoin?

Johnny Lyu CEO Kucoin
I think for most major coins like BTC or ETH, the liquidity is pretty good on KuCoin. Take BTC/USDT for instance, the spread is only 0.1 USDT for most of the time. But for some altcoins, the liquidity is not good enough. The team is working on it and hopefully it can be improved in Q2 & Q3

Johnny Lyu CEO Kucoin,
BTC is performing good today by the way

so is KCS 🙈

Community:
Will USDT Futures will there be a competition to celebrate the launch in the next time?

Johnny Lyu CEO Kucoin
Sounds interesting. The feature development is almost done

USDT futures will be launched at the end of this month or early next month. We are planning some campaigns to celebrate it and reward our users

Community:
What’s makes investors should invest on KCS ?
And what is the special program KCS project provide to investor in long run?

Johnny Lyu CEO Kucoin
Many interesting thing will happen to KCS with the launch of KuChain. We will dramatically adjust the business model of KCS and the current bonus plan

Community:
From technological and commercial perspectives, how can traditional companies be integrated into the blockchain? And what are Kucoin plans for traditional companies that continue to exist with their own systems?

Johnny Lyu CEO Kucoin
As far as I know, many internet giants like Facebook, Alibaba are investing into Blockchain. In some asia countries, we are also working with the government and some traditional companies to explore the potential of Blockchain

Community:
Exchanging Fiat to Crypto may be the biggest barrier for newcomers in the industry., please how would KUCOIN handle this issue?

Johnny Lyu CEO Kucoin
We now have three fiat gateways, OTC, Simplex and Banxa, allowing 22 fiats. Our goal for this year is to support 100 fiats

Community:
What would you say are the biggest criteria any project needs to fulfill in order to get listed on kucoin?

Johnny Lyu CEO Kucoin
We will review them through over 100+ criteria, but I think the most important thing is how the project would make a difference in the crypto world

Community:
Can you summarize what are the main and greatest advantages that Kucoin has over the rest of the competitors?

Johnny Lyu CEO Kucoin
Many hidden gems, more stable (supre smooth during big ups and downs), more secure and more user-friendly 🙂

Community:
Could you give me the key points to convince the community members to invest in #Kucoin in long-term?

Johnny Lyu CEO Kucoin
Many hidden gems, more stable (supre smooth during big ups and downs), more secure and more user-friendly 🙂

Johnny Lyu CEO Kucoin,
I think most because we make plans for KuCoin for the long-term. We work on many things that will not bring benefits to us in the short term but will be an advantage for us in the longterm.
For instance, KuCoin is the only two exchanges that support Level 3 data push, most exchanges only support Level 2

The other exchange that supports this is Coinbase 🙂

With Level 3, you will be able to check every single trades on KuCoin, which means the platform is 100% transparent.

You orders on KuMEX for instance will not be unusually liquidated. If you have any query about your order, you could check it yourself. Super transparent

Community:
Not everything is money, what measures have kucoin workers taken in the face of the coronavirus pandemic?

Johnny Lyu CEO Kucoin
During the outbreak in China, we donoted many medical goods to Wuhan, China. And now as it’s spreading globally, we are also thinking what we could do to help our users all over the world. Anything you need? let me know please!

Community:
Why Kucoin does not launch a separate stablecoin for Kucoin Exchange itself. In the current Downtrend period, this is necessary for investors.

Johnny Lyu CEO Kucoin
This will be super easy when mainnet of KuChain is live 🙂

Johnny Lyu CEO Kucoin
So many questions lol. Thanks a lot
Pls give me some time to review these questions 🙂

Community:
What are you expected for the future of crypto?

Johnny Lyu CEO Kucoin
One day everyone will be with crypto. I think in 5 years or so, it would be very common to invest in crypto for everyone.

Community:
Can you explain everything about KuCloud? looks very attractive

Johnny Lyu CEO Kucoin
It’s our cloud solution. KuCloud provides advanced technology solution, builds spot and derivatives trading platform allowing instant deployment. We offer this top-tier white-label solution with adequate liquidity and dedicated services in exchange for your minimum input.

Community:
You held a very useful AMA session and received many questions related to Kucoin Features, Kucoin’s future vision.
So now I want to ask what do you want to receive from the community?

Johnny Lyu CEO Kucoin,
Would love to know what else we shall do to make KuCoin a better place to trade 🙂

Community:
I am a new user KuCoin. why KuCoin contract more than 10x levelrage need a kyc?

Johnny Lyu CEO Kucoin
That’s our way to protect our users. High leverage = high risk. Choose the leverage wisely 🙏

Community:
Can we use KCS as payment in the future ?

Johnny Lyu CEO Kucoin,
You can do it know actually, you could use KCS to book a trip on travala, get a loan on Constant, play games on Playgame.com, do some shopping through PandiX. We will continue to expand the use cases of KCS

Community:
Why is your Kucoin application not optimal to be able to log in to multiple accounts on the app at the same time?

Johnny Lyu CEO Kucoin
You have a need for that? I think it’s an interesting feature to add 🙂 thanks for the idea

Community:
I would like to suggest an improvement to the Kucoin UX. Some people prefer the old version of Kucoin and some prefer the new version. If you logout and close the browser, Kucoin will open the new version next time you log in. Is there a way to save the settings regarding your preferred Kucoin version (OLD / NEW), so that next time you log in you’ll have your favorite version saved?

Johnny Lyu CEO Kucoin
Good point. thanks. I think our devs make it this way as they would like to suggest our users try the new UI, but will check with them and see if we could do something on this

Community:
Can we have an upgrade for the interface where we can move panels like Bitmex or at least hide some?

Johnny Lyu CEO Kucoin
I’m forwarding your suggestions to our devs 🙂
Good one, thanks

I think it works on KuMEX now. Will check if we could have such feature on KuCoin as well

Community:
What are your plans for 2020?

Johnny Lyu CEO Kucoin
KuChain & KuDEX will be one of our focuses. And for KuCoin, KuMEX and Pool-X, we will further improve its user experience

Johnny Lyu CEO Kucoin
Sorry guys, I have to go as I have a meeting in 10 mins. Maybe let’s leave some questions for next time?

Community:
Thanks for the AMA.
it was great to have you
Great AMA

Johnny Lyu CEO Kucoin
Thank you guys, hope you like the AMA as much as you like trading on KuCoin

Hope the red envelope brings you good luck and fortune!!

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