MultiVAC Partners With KuCoin For Their First Initial Exchange Offering
Since KuCoin is a known cryptocurrency platform with an established userbase, MultiVAC trusted to conduct its first Initial Exchange Offering on this exchange.
MultiVAC, the pioneering all-dimensional sharding, and flexible blockchain have announced its partnership with KuCoin and the said token sale commencing will be announced soon. This is MultiVAC’s first IEO activity and also the first project of KuCoin Spotlight.
Let’s learn more about MultiVAC and how its partnership can further benefit on both ends.
What is MultiVAC?
MultiVAC is known as next-generation high-performance public blockchain that aims at sustaining industrial-scale decentralized applications. The name is derived from the supercomputer in Isaac Asimov’s book “The Last Question.” The project utilizes a trusted sharding technology that enables for high levels of sustainable scalability and proposes a sharding model based on Verifiable Random Functions (VRF) that it implements to transactions, computation, and storage.
To achieve Blockchain’s full economic value in society, it must be scalable, but this statement inevitably requires compromises. The blockchain protocols are perceived to suffer from the so-called “impossible triangle.” It is difficult for a single blockchain to have at once the three requirements of security, decentralization, and scalability. MultiVAC offers a trusted sharding model that solves blockchain scalability problem, allowing for the unlimited growth of transaction power from nodes worldwide, i.e., scalability without limit.
The platform emerges from present-day electronic computers into an entity existing beyond space or time, having merged with all the human souls in the universe. In the universe’s final days, MultiVAC finally discovers the answer to its continuing enigma of “can entropy be reversed,” and therefore makes this statement: “Let There Be Light.”
As part of their continuous development, they have partnered with KuCoin, one of the leading cryptocurrency exchanges globally for their Initial Exchange Offering. This will further reach their goal financially and for exposure in the cryptocurrency world.
Understanding Initial Exchange Offering (IEO)
An Initial Exchange Offering is a token sale conducted on a cryptocurrency exchange platform. Opposite to Initial Coin Offerings (ICOs), an IEO is controlled by a crypto exchange on behalf of the startup that aims to raise funds with its newly issued tokens.
Before the token sale starts on the IEO exchange platform, both the exchange team and the project team will deal with an agreement. The exchange platform will do a careful review of the project utilizing certain conditions to ensure that the project is worthy authentic.
Initial Exchange Offering also presents an intermediary to the decentralized fundraising model, which provides the crypto traders a strong insight of confidence while participating.
How does IEO work on KuCoin and what is its impact on KCS?
There is an increasing number of cryptocurrency exchanges that have begun to embrace Initial Exchange Offering (IEO), and KuCoin is just among those few platforms that started considering this activity.
As the token sale is conducted on KuCoin’s exchange platform, token issuers have to spend a listing fee along with a percentage of the tokens sold throughout the IEO. In return, the tokens of the crypto startups are sold on the exchange’s platforms, and their coins are listed after the IEO is over. As the cryptocurrency exchange gets a percentage of the tokens sold by the startup, the exchange is incentivized to assist with the token issuer’s marketing processes.
IEO participants do not send contributions to a smart contract, that governs an ICO. Instead, they have to generate an account on KuCoin where the MutiVAC IEO is conducted. The contributors then fund their exchange wallets with KCS coins and use those funds to buy the fundraising company’s tokens.
KCS as KuCoin’s based token and native currency, users will be required to buy this token to participate on the Initial Exchange Offering, thus making this a demand token. Since “supply and demand” is the most critical determinant of cryptocurrency prices, KCS will positively have a soaring value. Also, another factor that can provide a significant impact on KCS is the increasing level of its utility as a demand token during an IEO.
If KuCoin plans to do 1 to 3 Initial Exchange Offering each month, it will affect the price of KCS to ascend rapidly. Therefore, making KCS as one of the most promising and a token to highly invest.