KCC: An interview with KuPay
Hi there, crypto enthousiast!
This interview is part of my KCC-collection — a series of interviews with known and lesser known projects hosted on the ‘Kucoin Community Chain’ and published on KuCoin S(ocial). KCC is a blockchain by and for [but not limited to!] users of the KuCoin Crypto Exchange. Want to learn more about KCC? You can visit the official website here.
Leviathan: Hi Tucho, thanks for joining us today. The first question will take us back to the very beginning. Where did the inspiration for KuPay come from❔
🅰️ Tucho: We were already active on KuCoin CEX. We liked the interface a lot. At that time we were learning on BSC about Smart Contracts. When we heard that KCC blockchain was about to launch, we wanted to be there from the very beginning. Initially as investors, but as we got more involved in the communities on Telegram, the three of us sat down to see what we could contribute to this community and thus Tokenmerch was born.
The idea for KuPay came shortly after to give the projects on KCC the option to add an additional use-case to their token: to buy merchandise of their respective projects. We think we can bring lots of users to the KCC blockchain with the products that we feature, especially because we are enabling the purchase of real goods with the assets that users hold on the KCC blockchain.
Leviathan: KuPay and TokenMerch are indeed closely related. What is the logical link between both projects❔
🅰️ Tucho: Tokenmerch was our first project and shortly after KuPay was born. We felt that credit card payments weren’t really appropriate to purchase Blockchain merchandise. If you have such a sophisticated technology with incredibly low transaction fees at your disposal, why not use that as the go-to payment system?
Leviathan: Can’t argue with that. On to the next question: you have recently launched an NFT-collection (KuOrks) via KuSwap, which sold out in a matter of days. They are more than just fancy digital images. Could you tell us more about the current and future use-cases of these 888 KuOrks❔
🅰️ Tucho: Possession of a KuOrk directly connects the owner to our project. Each owner will be entitled to a discount on every purchase made on Tokenmerch.
Furthermore, owners will be eligible for an airdrop when we launch our KuPay-token — based on the number of Orks they posess, capped at 5.
in addition to these benefits, owners will be able to exchange their KuOrks in a later stage for an actual share in the project. These shares entitle the owner to a percentage of KuPay’s profits made on transaction fees.
Leviathan: A fair number of benefits, indeed. Some of these KuOrks refer to the now infamous AlphaDAO project. What is your stand on this matter? How should owners of these NFT’s look at their Orks❔
🅰️ Tucho: As most KCC-users know, AlphaDAO is a project that failed along the way. We feel sorry for everyone that lost their investment in that project. We did too. This is something that sadly enogh happens in this space. We all know that we are operating in a very sophisticated, high tech environment of which risk is an inherent part.
AlphaDao failed but its transactions are still written in the blockchain and will remain there for as long as the KCC Blockchain exists. When you own a KuOrk, you own a piece of history of the KCC Blockchain. AlphaDao has its place in that history.
Leviathan: Well said. Let’s zoom in on those KuPay shares again. What is the idea and distribution model behind it? What will happen to the KuOrks once they’ve been traded in❔
🅰️ Tucho: NFT’s are mostly considered digital art / images that you can buy and whose ownership rights are stored in the blockchain. We think that this is only the starting point. The NFT-market will grow to be a system in which ownership rights of a plethora of things will be stored and transparant for everyone on the blockchain. This includes ownership of real estate, cars and especially stocks. When this transition takes place, shareholders will be registered in a public ledger and they will manage their portfolio on the blockchain, not via a private bank account.
We want to be a frontrunner in this transition. Holders of our KuPay shares will be shareholders in our project, which entitles them to a respective share of the profits. If you return your KuOrk for shares, then that specific Ork will be returned to KuPay. These KuOrks can then be resold to raise additional capital for future growth and development, which in turn brings even more value to the project.
Leviathan: What are the criteria for KCC-projects to be included in the Tokenmerch store? I’m sure that some readers are wondering why MojitoSwap is not part of the Tokenmerch offering, nor represented on any of the KuOrks❔
🅰️ Tucho: There have been talks with MojitoSwap and we would love to list them on Tokenmerch as well. Their team is currently focused on delivering features and bringing more value to the ecosystem. And so are we — working on our very own roadmap. Maybe a collaboration will happen in the future. Time will tell, but first things first.
Leviathan: KuPay is participating in the Unicorn contest. If you happen to be one of the winners in your category, how will these funds be used to grow the project and the KCC-ecosystem❔
🅰️ Tucho: We will need liquidity to do a successful token launch. If we win, part of the funds will be allocated to achieve that goal.
The remainder will be used for further development of our projects and to fund the ‘Reversed Pyramid learning game for the DeFi-ification of Africa’ — in which we will give unbanked people access to an electronic payment system that runs on KCC. The word ‘reversed’ implies that value in this pyramid will flow from the top down when people bring new users to KCC.
Leviathan: Wow, that is an ambitious goal for sure — best of luck. One last question: could you tell us something more about the upcoming features/roadmap? Perhaps an exclusive sneak-peak for the readers❔
🅰️ Tucho: We have just added the Binance Smart Chain to our payment system. We felt that it would open up an additional market where many potential users of our payment system can be onboarded. We think that this can be a stepping stone for them to make the switch to KCC once they learn about the low transaction fees.
Also we might be announcing another NFT project soon… . But dont tell anybody!
🔚 Haha, my lips are sealed. Thank you for taking the time to answer these questions — and good luck with all of the upcoming features.
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👆 As always, the choice is yours and yours alone. Do your own research before investing in crypto projects. The content of this interview is in no way sponsored, so you can consider it part of your research. 😏
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The original interview on KuCoin S can be found here. Want to learn more about KuPay or Tokenmerch?
🚧 Roadmap: Detailed and weekly updated roadmap can be found here.