This is our second addition to the KuDoge updates with a recap of the recent developments.
Liquidity
Firstly the liquidity on KoffeeSwap has been unlocked, these are the initial funds provided by the main developer. The main contract held more than twice of the initial liquidity, and as stated in the whitepaper the initial liquidity will be pulled once we reached our desired threshold. This has dropped the overall liquidity by around 25% but it still remains higher than we had set our initial threshold to. We may look into changing the contract fee structure to burn more tokens instead of giving to liquidity in the future.
The KCS we got from the liquidity has been distributed with some of the very early supporters of the project (community managers and developers). The rest has been sent to KuCoin to get the bonus from the fees. Those were always considered our own funds and it is nice to get something back for the hard work we put in without selling any KuDoge tokens. We will need that KCS and maybe some more to run the validator, then it will be moved on-chain again.
KCC
A few days ago Leandre, the main KCC developer held an AMA in the official KCC Telegram telling us a lot about the KCC and KuCoins stance on it. Even we were surprised to hear the backstory as we had somewhat assumed that KCC is simply the replacement for KuChain, built by KuCoin itself. But no KCC stands true to it’s name as a community chain and is only supported by KuCoin.
They revealed to us that they are more focused on building the network than doing any fancy marketing campaigns. But despite that they showed their willingness and ambition with the ambassador program, which is effectively going for community marketing. Although to any crypto investor that may seem as the slower route to success, it may also be a more genuine one.
Now lets discuss our future developments and plans
Marketing
Just like KCC itself we also want to grow with the help of the community and not by relying on some shady influencers pumping or dumping our token. We tried this way for a bit as the community requested it, but in the end it doesn’t feel genuine or productive. Our resources seem to be better spent on focusing to build and support the rest of the ecosystem. Aside from that we are trying to collaborate with other projects in the ecosystem as much as we can, hoping to grow together with them.
Developments
Development has gone forward a bit slower than expected because of various reason (personal issues, medical issues to name a few).
Still we have gotten an idea and are currently working on two projects:
-custom tipping bot
-refreshed website which will be a dApp, making something like a referral program which allows us to give back to community members who help us grow. Both of those will still take a while but we made solid progress nonetheless.
