KuCoin Weekly Report #2–2018/5/21

KuCoin

Published in

kucoinexchange

4 min readMay 21, 2018

1, CEO Michael of KuCoin wants to share something with you:

Dear KuCoin Users,

on behalf of all the KuCoin management level and staffs, I’d like to express our sincere appreciation on your support to us. Thanks for your consistent concerns over KuCoin and thanks for your splendid ideas and suggestions to our services. I’d like to talk about some of the important issues that you concerned about. For these issues, we have developed some plans.

Plan I: The Referral bonus button fails to respond

Issue description: In our preliminary design of the KuCoin bonus system, as we hope to establish relations with more users, we neglected the overload pressure that may exert on the system in the future. The synchronized transaction scanning and corresponding referral bonus calculation within this system lead to the long time delay and response failure as is mentioned.

Solution: Arrange senior R&D engineers to handle this function module. The system design reconfiguration is estimated to be finished in two weeks.

Remark: During the reconfiguration, we would temporarily stop the referral bonus and KuCoin bonus services.The delay would not lead to the bonus losses. Users could collect the referral bonus as usual after the system repairing. We would release announcement before we start our reconfiguration.

Person in charge: R&D Team

ETA: 2 Weeks

Plan II: Campaign rewards distribution

Issue description: To ensure the security of the campaign rewards distribution, the distribution operation adopts a relatively complicated statistical summary method. But after multiple-level leaders’ approval and the final release permission of the core company level, the rewards delivering period is prolonged.

Solution: Next week, the back-end R&D team of KuCoin will optimize the rewards distribution interface and build an campaign rewards distribution system. The R&D team will process all the campaign rewards distribution to improve service efficiency and aim to finish the ranking and rewards distribution within 72 hours after the activity.

Person in charge: R&D Team

ETA: 2 Weeks

Plan III: KuCoin Bonus

Issue description: The calculation and distribution of the KuCoin bonus sometimes fail to respond.

Solution: The KuCoin bonus calculation and distribution issues have been basically solved. We will continue to optimize the system to ensure that the calculation and distribution process of the KuCoin bonus is smooth.

Person in charge: R&D Team

ETA: Continue system optimization

Plan IV: Airdrop/Fork distribution as promised and support by KuCoin

Issue description: The Airdrop/Fork distribution requires large amount of works and the problem always occurs that the amount of token that KuCoin received from the project side is inconsistent with the amount shown in the snapshot took by KuCoin. This takes KuCoin long time to negotiate with the project side and therefore affected the efficiency of the Airdrop/Fork distribution. Meanwhile, due to the instability of the Airdrop/Fork token wallet system, users might fail to withdraw the token in short time after the distribution.

Solution: The Business Department of KuCoin would examine and verify the Airdrop/Fork projects and determine the final Airdrop/Fork projects. We would negotiate with the project side the practical airdrop amount checking before the process to avoid the token number inconsistency issue and work delay. We would arrange multiple R&D engineers to optimize the Airdrop/Fork distribution and to participate in the airdrop accessing and data snapshot processing. We will distribute the rest CLO, ePRX and the ONT of the Airdrop/Fork project as soon as possible.

Person in charge: BD & R&D Team

ETA: 4 Weeks

Thanks for your support and understanding!

KuCoin CEO Michael