KUCOIN’S NEW LISTING CHALLENGE
KUCOIN’S NEW LISTING CHALLENGE
By Brian Odongo, Content Creator at KuCoin.
KuCoin is the “Peoples’ Exchange” as it offers low and attractive trading options to its users compared to other crypto traders. It has introduced New Token Listings, which the users and its grading have positively received according to the CoinMarketCap and CoinGecko.
With more than 700 assets and more than 1200 trade pairings, KuCoin is the leading alternative currency exchange. Numerous cryptocurrency treasures, including BLOK, CHMB, VR, KMA, and DAO, have KuCoin as their principal listing.
Over 20 million users in 207 countries and territories currently have access to KuCoin’s spot trading, margin trading, peer-to-peer fiat trading, futures trading, staking, and lending services.
The KuCoin’s New Listing Coins in July and August 2022
KuCoin has been proud to announce different New Listing Coins in July and August. Among them include;
- Fracton Protocol (FT)
- Wombat (WOMBAT)
- Wombat (WOMBAT) Platform and how it works.
There is rapid growth in gaming industries, and analysts have projected that the sector is likely to generate $196 billion in the year 202
2, up from $178.2 billion in the year 2021.
The games are run in a closed environment, in a centralized manner (games are under the control of a few game publishers and developers); hence only a few people can benefit from the sale of game items.
In restricted environments, players do not own them despite paying for in-game objects. Additionally, players are not paid for their time playing the current games. The blockchain addresses these issues by making it possible for game producers to incorporate a play-to-earn (P2E) model.
The P2E gaming paradigm is better for players even though it prevents widespread adoption. And the primary difficulties include convoluted onboarding procedures, confusing user interfaces, inadequate NFT marketplace, trading infrastructure, and security concerns. Wombat addresses the P2E challenges and has launched a fully-equipped Web 3 gaming platform.
What is Wombat?
Wombat is an open Web3 gaming platform launched in June 2019, and so far, it has over 2.6 million users. The project’s primary goal was to make it simple for traditional gamers to transition to the Web3 gaming environment.
The Wombat Platform integrates NFTs into AA and AAA games from top game companies, fusing the best features of Web2 and Web3. The Gamers on Wombat can quickly discover the latest games with crypto or NFT monetary mechanisms, store, manage, transfer, and interact with NFTs and cryptocurrencies.
Game progress and NFTs can be exchanged between players. Using Wombat, gamers can also trade, lend, borrow, stack, and swap their cryptocurrency and NFTs for fiat on top exchanges and other third-party marketplaces.
How Wombat works
Ethereum, Telos, Heco, Polygon Chain, Avalanche, Fantom, WAX, and EOS are the nine blockchain networks supported by the Wombat Platform. In some networks like EOS, WAX, and Telos, Wombat covers the transaction cost and allows users to sign 10x as many transactions daily to help improve the experience of the users.
The Wombat app is on Android, iOS, and chrome platforms. The app has dApp explorer for users to interact with dApps on different blockchain networks. Within the Wombat app is also an NFT gallery for viewing and completing functions of NFT.
The purpose of WOMBAT
Wombat ensures gamers who participate in the community activities with Wombat are rewarded. The primary use of Wombat is to support payments within the app.
Gamers can vote on specific criteria for Wombat’s planned NFT market. Wombat token holders can vote on projects within the wombat ecosystem.
Why Wombat is Unique
- Wombat offers users a non-custodial wallet that stores the user’s private keys.
- Wombat app can back up users’ credentials on users’ Dropbox Or GDrive accounts for security purposes.
- Wombat users can sign in 10x as many transactions daily on some blockchain networks.
- Fracton Protocol and How it Works.
Since 2014, Non-fungible tokens (NFTs) have signified ownership over assets; however, their nature prevents ownership division inhibiting adoption among small asset collectors. NFT collections have floored prices exceeding one ETH, approximately $1,500.
The traders, collectors, and public have rolled out Fracton Protocols to address the liquidity problem associated with NFTs.
What is Fracton Protocol?
The Fracton Protocol is an NFT liquidity infrastructure that offers permissionless liquidity and an oracle for all types of NFTs. It has two steps of fractionalization (ERC721-ERC1155-ERC20).
This project aims to separate the financial layer from the NFTs’ usefulness. Fracton is simple to integrate into CEX and DApps and provides solutions for inter-protocol liquidity providers and fractionalized NFT market makers.
The Fracton Protocol currently supports BASIC and PUNKS as fractional systems. Over time, the project hopes to incorporate additional major NFT initiatives.
How Fraction Protocol works
Fracton Protocol starts minting campaigns for a specific digital collectible before it sells a BAYC NFT. By selling Blind Boxes to the general public, the protocol raises money. Collection and Round are two features of Blind Boxes. Fracton deposits numerous obtained BAYC NFTs in the BAYC Meta-Swap as part of the Collection option. In this Meta-Swap, Fracton treats each NFT as though it were valued equally. Shareholders in Collection Blind Boxes own a portion of the BAYC Meta-Swap.
But for one BAYC NFT to be purchased in Round, 1,000 Blind Boxes must be sold. With this choice, regardless of whether the BAYC acquisition is successful, Fracton will use the monies generated responsibly.
After the minting round is successful, Fracton buys the desired BAYC and adds the digital item to the Meta-Swap. Users can open blind boxes in this location to obtain people’s BASIC. Users can use the platform to remove People’s BAYC to remove BAYC from the Meta-Swap.
Fracton uses the money it has raised to repurchase all accrued ERC-20 fractions in the case of a failed purchase. By guaranteeing that each ERC-20 token has equal ownership of one NFT in the Meta-Swap, this mechanism helps curb the inflation of ERC-20 tokens.
Why Fraction Protocol is Unique
The Fracton Protocol enables users to buy, own, or sell top NFTs in small quantities. This strategy encourages more people to enter the NFT market and actively take part in trading the most valuable. The Non-Fungible Crew, a collection of 10,000 NFTs with profile pictures (PFP), is available on Fracton. The Fracton ecosystem will give holders of these NFTs the ability to act as decentralized verifiers collections.
One of the goals of Fracton is to develop an open, decentralized, and cooperative NFT fractionalization protocol. Due to its role as the protocol’s governance token, the Fracton (FT) token is essential to the project’s goals.
CONCLUSION
Fracton Protocol exposes a large population to top NFTs by fractionalization of top NFTs. With a competitive advantage over online markets that only permit the trade of full NFTs, this strategy makes the platform stand out as an NFT trading platform for ordinary investors.
The move by Wombat to combine a wallet, dApp browser, and NFT marketplace into one app streamlined the onboarding process and user interface for traditional players who want to explore Web3 gaming. Working with top Web2 game studios and publishers also positions Wombat for success. Click here to start trading on Kucoin.
REFERENCES
https://www.kucoin.com/zh-hant/news/categories/listing
https://www.kucoin.com/id/blog/all-you-need-to-know-about-fracton-protocol
https://www.kucoin.com/zh-hant/blog/what-is-wombat-and-how-does-it-work
