KCC AMA Series — Episode 1 — What’s Done And What’s Next In 2021

Dear KCC Community,

KCC hosted an AMA (Ask-Me-Anything) session with KCC Main Developer: Leandre in the KCC Group, discussing about the story and latest updates and KCC. If you missed the AMA, you may check the full transcript here.

Time:3PM, August 3, 2021, (UTC)

First Part-The Story of KCC

Guest Introduction:

Hello everyone, I am Leandre. I am a blockchain and backend developer. I have done some blockchain and smart contract development before, and I have also done traditional web development. My first contact with blockchain and cryptocurrency was in 2018, and later the same year, I also discovered KCS and KuCoin. I am also one of the loyal fans and holders of KCS and KuCoin, just like anyone else.

Q1: How did you come up with KCC?

Leandre: Probably everyone has seen from the KCC official website (kcc.io) that KCC was built by the fans of KCS and KuCoin. In the past year, DeFi has driven the entire cryptocurrency market, and NFT+Game has also begun to emerge in recent months. Due to the popularity of these projects, the performance of the Ethereum mainnet was overwhelmed. The gas price remained high for a long time, even reaching 100 gwei. Which is very expensive and unfavorable for users. So, I searched for a few friends who are also developers in the KuCoin community and talked to them about this. Without doubt, they agreed with me.

“Recently, BSC has done a good job, and it’s very popular. If KuCoin had a chain like BSC, it would be nice to use KCS to pay for gas,” a community developer friend said.

With this idea, the community partners found Johnny on Twitter and talked to him about this idea. Johnny supported and agreed with our idea and stressed that KuCoin is also hoping to support interesting and added-value projects of developers in the community.

And that’s how our small team of community developers started the KCC development journey through Github.

Q2: Why is it called KCC?

Leandre: As mentioned earlier, KCC was born out of the ideas of community developers, so we first named this project “KuCoin Community Chain”, which is also the full name everyone sees at first. We hoped that this chain would grow in the community and attract more community developers to develop and operate on it. So, it does not belong to the KuCoin Exchange but belongs to the entire community. But after KCC went online, some people said “KuCoin Community Chain is a sub-brand of KuCoin” and used Binance and BSC as an analogy to deceive users into buying their tokens, which brought some negative effects to the community, the users, and KuCoin. We do not wish such instances to continue. Therefore, after discussing with Johnny, we contracted the full name “KuCoin Community Chain” and used the abbreviation “KCC” instead, hoping to prevent some people from using the name “KuCoin” to spoof “KCC”.

Q3: What does KCC do?

Leandre: The KCC project was officially launched at the end of March 2021. Here’s what we have done so far:

1. KCC testnet and mainnet online deployment (server fee sponsored by KuCoin)
2. kcc.io website
3. explorer.kcc.io browser (together with Tokenview, sponsored by KuCoin)
4. KCC Bridge cross-chain bridge (currently supports Ethereum and will support more chains and currencies in the future)
5. Some wallet support, such as MathWallet, TokenPocket, Shield protocol, etc.
6. Community construction, including Telegram, Discord, Twitter, Medium, etc.
7. Grant Program (with 200,000 KCS budget sponsored by KuCoin)
8. Technology Ambassador and Community Ambassador Program (with 100,000 KCS budget sponsored by KuCoin)

Q4: What is KCC doing recently?

Leandre: Here is a list of what we are doing at the moment, glad to share with the community:

1. Screening and funding follow-up for Grant Program
2. Screening and follow-up for Technical Ambassadors and Community Ambassadors Program
3. Design and construction of a DAO organization
4. Establishing a community based KCC operation team
5. KCC Bridge’s support for more chains and currencies
6. Introduction and improvement of more stable blockchain basic tools
7. Development, support, and introduction of more high-quality community projects and applications
8. Support and introduction of more high-quality community developers and operators
9. DApp application list
10. KCS Bouns on the KCC
11. Some optimization and governance work

In general, KCC has just completed its incubation. There are still many ecological construction tasks to do. We hope that more KCS holders, community developers, and volunteers will join in to develop and build KCC together. KCS creates value for blockchain and decentralization.

Q5: What is the positioning of KCC?

Leandre: KCC is independent of the existence of KCS and KuCoin Exchange. It does not belong to KuCoin Exchange, nor is its sub-brand. KCC was born through the hard work of the community of developers and fans of KCS and KuCoin. It is funded by KuCoin Exchange with the help of Mr. Johnny Lyu and many of its full-time employees. The future development of KCC will also be traded with KuCoin. Complementing each other, KuCoin Exchange will continue to vigorously support and help the development and construction of the KCC project and the KCC community, including liquidity, funds, resources, projects, and so on.

Q6: What’s KCC’s Vision?

Leandre: Perhaps unlike some other exchange public chains, KCC’s Vision is: To accelerate the liquidity of value around the world without boundaries. We hope that through community-based construction and development, we can realize this idea and create the common value for us all.

Second Part-Questions From KCC Community

Q1: How many wallets currently support the KCC Chain Token. Do you have any plans to build your wallet?

Leandre: All Ethereum-based wallets such as MetaMask, MyEtherWallet, imToken, TokenPocket, MathWallet, etc., support the addition of KCC Chain and the tokens based on it. For your reference, you can check this guide: How to configure the MetaMask wallet or this video. We currently have no plans on building our independent wallet. But in the meantime, we expect more developers in the community with interests to contribute to this area. We welcome all wallet teams within the community to contact us if they’d like to support KCC Chain. I’ve spoken with Johnny before, and I can tell you that the KuCoin App might support the plug-in of the KCC Chain wallet in the future in order to further reduce the threshold for ordinary users.

Q2: What happens if we used KCC instead of ERC20 when sending Tether to an address that doesn’t support KCC? Does it bounce back after a certain amount of time?

Leandre: If the target address is your personal address, the operation is quite simple. Change the wallet network to KCC, and import your address and your KCC-USDT contract address, then you can see the USDT balance.

If your target address is an exchange or a centralized wallet, you need to contact their customer support to either let them support KCC or refund them to your original address.

Therefore, we suggest our users to be clear about why they will make the transfer since blockchain features immutability, meaning that any transfer cannot be rolled back once sent, and we always recommend first giving a try with a smaller amount.

Q3: When can $KCS holders stake $KCS and delegate them to validators? Will @kucoincom support that?

Leandre: So far, we have not opened the applications for the validator nodes yet, and we are planning to initiate the candidate selection within Q3 gradually. One of our primary concerns is the relatively low gas rewards compared to the node costs. Currently, the costs incurred from node servers are sponsored by KuCoin.

In addition, we will be launching the KCS on-chain bonus scheme (sponsored by KuCoin Exchange) within Q3, which will be integrated with the existing functions, including bonus/farm/stake/validator. The whole scheme is currently under design, and we welcome the community to provide us with their advice and suggestions.

Q4: When do you plan to initiate marketing?

Leandre: Our current focus is on constructing the ecosystem infrastructure and community members recruitment, including the KuCoin Ambassador Program. A solid infrastructure will empower our marketing along with user support. We are also planning to establish a DAO organization to run KCC. I believe that the KCC ecosystem will further grow with the huge support from the community and KuCoin Exchange and will thus generate more value to our community. Besides, we are encouraging the KCC users to share their resources and support each other in talents, internet traffic, media, etc. Probably you will see the launch of several marketing events soon.

Q5: When will the Grant result be published?

Leandre: The first round of applications for the Grant Program has been closed. We have 15 candidates in total, amongst which 8 met our preliminary selection criteria. We will talk to each of the 8 projects and launch an on-chain vote to collect feedback from the community on their supporting projects. If everything goes well, the final list for the Grant Program will probably be announced in late August 2021.

Q6: Why didn’t KuCoin support KCC and legit projects running in KCC, like swap platforms, yield farming, ….

Leandre: Firstly, as we mentioned before, KuCoin has always supported KCC in terms of capital, talents, and other resources. DEXes, yield farming platforms are independent projects launched and operated by community members without any direct connection with KuCoin. But we’re quite happy to see their achievements so far, and we hope to cooperate with these platforms to build its ecosystem further. These projects and KuCoin are key members of the KCC community, who will share resources in users, traffic and media, and support each other’s development. This is what we’re trying to achieve.

Q7: We only have the chance to use KCC for KCS, USDT, and USDC. My question is, when is the full integration with the rest of the crypto tokens going to happen? And if so, which ones are next?

Leandre: KCC Bridge currently supports the following assets: KCS, ETH, USDT, USDC. We’ll support more mainstream assets this week, including UNI, PAX, etc. There’s also a third-party bridging project — the AnySwap Bridge that provides cross-chain service, including BNB, BUSD, WBTC, DAI, etc.

Q8: Why is the KCC Grant Program limited for projects yet to be launched? Which projects have already launched on KCC? What kind of support do they get from the KCC Community?

Leandre: The Grant Program is a funding scheme rather than an investment, aiming to support promising developers and projects that focus on building tools and protocols for the infrastructure to benefit the ecosystem. So far, the SWAP projects initiated on KCC are fork projects, and they have issued their native tokens; therefore, they are not included in the scope of the Grant Program. As mentioned previously, we encourage the KCC users to share their resources and support each other in connections, Internet traffic, media, etc., stay tuned.

Q9: When will the RPC error stop being an issue for new developers?

Leandre: Our official RPC is https://rpc-mainnet.kcc.network, and we are also using it without any problems so far. If you have any inquiries regarding this, you can provide us feedback via our Discord community-Issue channel, better with the screenshot and detailed error information for us to address the issue accurately. In the meantime, we’re communicating with third-party node services to offer you better services in the future.

Q10: What is the KCC team doing to prevent rug pulls on KCC？

Leandre: To be frank, rug pulls are unavoidable on a decentralized public chain, as it offers free access for anyone to deploy their projects without being reviewed by the KCC team. Therefore, we recommend you to DYOR before participating in any projects to avoid huge loss in valueless tokens for higher APY.

In addition, we are establishing a decentralized DAppStore which includes community and external reviews/scores that might be valuable for your reference. We will also add a blacklist function in the KCC bridge and KuCoin’s wallet system to reduce your risks at deposit and withdrawal.